Economy and Finance Thread

By the way the price of gasoline here in my neck of the woods is simply ridiculous, same for a 2 by 4. Hey, even the price of 4K Blu-ray movies is not going down.
This world during this pandemic was built for the rich, the elite, the high class, the Hollywood society, ... Everyone else can wait till they can afford a first class ticket into space ... à la Richard Branson...the Virgin man.
 
Economy

"Federal Reserve Chairman Jerome Powell also said part of the temporary boost in inflation is due to “the sharp pandemic-related price declines from last spring drop[ping] out of the 12-month calculation”. In other words, comparing the low prices at the height of the pandemic in the US to today’s increased demand is making the inflation problem look worse than it is.

But investors haven’t been fully assuaged by Powell’s ongoing request for patience in the recent past. Wall Street closed lower Tuesday even as big corporations and banks reported high third-quarter earnings. The fear is that even higher profits won’t insulate major firms from inflation fallout.

Those fears aren’t unfounded. Consumer prices soared 0.9 percent last month after rising 0.6 percent in May, the US Department of Labor said, the sharpest one-month change since June 2008, when the US was mired in the Great Recession of 2007-2009.

Producer price increases are breaking records too, spurring concerns that businesses could pass even higher prices on to consumers in July. Producer Price Index data released on Wednesday ahead of Powell’s testimony showed that the prices businesses fetch for goods and services increased 1.0 percent in June after rising 0.8 percent in May, according to the Department of Labor." - Wednesday, July 14, 2021 (today) / Al Jazeera
 
not being an alarmist, but in my opinion, the whole situation with the U.S. Fed, Stock Market, Debt, out of control spending (investment), etc is just a house of cards.
This artificial economy cannot survive. Yet our elected officials don't seem to be concerned.
I just don't get it.
My system is sounding pretty good and I have some provisions put away. I should be OK as along as they can keep the electricity flowing and I can afford it.
 
jadedavid said:
not being an alarmist, but in my opinion, the whole situation with the U.S. Fed, Stock Market, Debt, out of control spending (investment), etc is just a house of cards.
This artificial economy cannot survive. Yet our elected officials don't seem to be concerned.
I just don't get it.
My system is sounding pretty good and I have some provisions put away. I should be OK as along as they can keep the electricity flowing and I can afford it.
Click to expand...

As am observer from the "Land Down Under" - you - Sir - have nailed what I believe is the ideal response - stated your view in a nonconfrontalist way - then invited us into your happy place - works for me:D
 
NorthStar said:
How much more is going to cost now for a decent pair of loudspeakers, and a pair of mono amps ... 9%, 18%, 33% more? What about a brand new 2023 Lamborghini? Are we going to pay more taxes on our properties, our lands, our homes, our water bills, our electricity, our solar panels, batteries, gas, oil, air conditioning, fire insurance, cell phone service and Internet providers, Netflix, Amazon Prime, Apple products, Windows 11, cameras, wheels, motyorcycles, yachts, movie tickets, TV cable, Music download, Disneyland?

Are they going to tax the poor more? Are they going to charge dead people?
I think there's a small lack of common sense balance in this world we live in (that is for people who can still breathe some air). Maybe, just maybe, someone somewhere's in charge? :( :S :disbelief: :dry:
Click to expand...


As long as someone buys them regardless of cost, the prices will continue to increase year after year.
 
jadedavid said:
not being an alarmist, but in my opinion, the whole situation with the U.S. Fed, Stock Market, Debt, out of control spending (investment), etc is just a house of cards.
This artificial economy cannot survive. Yet our elected officials don't seem to be concerned.
I just don't get it.
My system is sounding pretty good and I have some provisions put away. I should be OK as along as they can keep the electricity flowing and I can afford it.
Click to expand...

Agree we just had our kitchen cabinets upgraded. When we completed the contract back in Dec 2020, the wood actually real oak was $5656.00 less, but at completion that same wood priced was just nuts. This Fake economy is going to bust one of these days. People paying outrageous prices for new home construction, re-sales and remodels. Those same homes when this thing burst is going to impact a lot of people when their home value drops a few $100 k or more. ( in my area ) .
 
and our Gov't offers child support to six figure income families, we're doomed ...........:panic:
 
This is all part of the same plan that has been playing out over the last 2 years. I would have been much worse if someone did not interrupt their plans for a couple years. This is not all just a chance happening.
 
jadedavid said:
not being an alarmist, but in my opinion, the whole situation with the U.S. Fed, Stock Market, Debt, out of control spending (investment), etc is just a house of cards.
This artificial economy cannot survive. Yet our elected officials don't seem to be concerned.
I just don't get it.
My system is sounding pretty good and I have some provisions put away. I should be OK as along as they can keep the electricity flowing and I can afford it.
Click to expand...

Key word for a bunch: "artificial". Soon or later reality will strike; it already had in many counties and countries...Cuba, South Africa, South America, ...
With a Corona pandemic and a Delta variant and a booster vaccine and all the jazz going on (jobs, water, food, power, gasoline, consumer goods)... who is a professional economist today?

Yes the real estate house market is ridiculous, a huge bubble, a disaster for young families needing a roof above their heads. When will it end? And how many will benefit and how many will suffer? For the rich no problemo, for the poor* (most of us) not a rosy picture.

* How many here make well over six digits a year?
 
TheOctopus said:
The civil unrest in Cuba due to inflation and food shortages is a glimpse of the same problems brewing at home...

The coming food shortage is real! Supply chain breakdown and crop failures.

No Water, No Crops: Farmers Forced to Sacrifice Crops as Water Shortages Linger



The coming food shortage is real! Supply chain breakdown and crop failures. - YouTube
Click to expand...

You just mentioned a big point; water. It's a problem. And the cost of getting it, and the cost of fighting fires, and the cost of replacing burned homes and forests, and the cost of rebuilding when the materials are three times the price they used to be. Also, electrical grids, air conditioning, food delivery and supply, plus freezers that cannot cope with the heat. Some grocery stores have to shut down because of the heat. This weekend coming another heat wave is forecast for the Rockies across Canada and USA. All this affects the economy, people have to evacuate, tourism economy suffers, lungs and hearts suffer...fragile people suffer. I'm fragile, and a whole bunch of us.

California, Oregon, Cuba, Haïti, South Africa, ... what do they have in common?
South Africa right now is a not a rosy picture, and neither all the fires on the US west coast.
All of this points out to a less than stellar future economy, to ... inflation.

Anyway, for the ones making well over six digits a year there's nothing to worry about; enjoy the swimming pool on the yacht and the sound system in the lounge.
We live in the jungle, right?
 
NorthStar said:
You just mentioned a big point; water. It's a problem. And the cost of getting it, and the cost of fighting fires, and the cost of replacing burned homes and forests, and the cost of rebuilding when the materials are three times the price they used to be. Also, electrical grids, air conditioning, food delivery and supply, plus freezers that cannot cope with the heat. Some grocery stores have to shut down because of the heat. This weekend coming another heaT wave is forecast for the Rockies across Canada and USA.

California, Oregon, Cuba, Haïti, South Africa, ... what do they have in common?
South Africa right now is a not a rosy picture, and neither all the fires on the US west coast.
All of this points out to a less than stellar future economy, to ... inflation.

Anyway, for the ones making well over six digits a year there's nothing to worry about; enjoy the swimming pool on the yacht and the sound system in the lounge.
We live in the jungle, right?
Click to expand...

How do you think the Caribbean islands get their fresh water?

The same way Florida does:

Tampa Bay Seawater Desalination Plant | Tampa Bay Water

Any worry about rising ocean levels can be mitigated by desalination. Solves two problems.


Sent from my iPhone using Tapatalk Pro
 
On the gulf Islands near me tourists are advised to bring their own water.
The Islands here rely on rain water for drinking tap water. Where's the rain? Not in the sky right now. How come they don't use desalination of the ocean water, here? You guys in Florida got the the nuts and bolts working right. In Canada we're behind...the gulf Islands on the west coast (my neck of the woods), where jazz rains more than wet water from above. It's no more like it used to be.
 
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