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Leisher wrote: ↑Wed Jul 12, 2023 3:50 pm Ok fair, and I'm not throwing shade at you or anything. I'm just making the argument that inflation dropping is great, but until it translates to real prices people see on a day to day basis, it means nothing to them.

The only thing I've really noticed day-to-day was that eggs have finally gone back down significantly, but that's a bird flu issue more than economy.

So... 1) A GIANT amount of money was stuffed into the economy, prices aren't going back to where they were. If you picture a simple economy of like 10 people where everyone has $10, and then suddenly everyone has $15, prices will also go up 50%, because the money supply grew. 2) Prices will go wherever the equilibrium in the market takes them. If people will pay X for something, why not get X? Why get 80% of X?

Leisher wrote: ↑Wed Jul 12, 2023 3:50 pm Maybe you travel in better circles than I do (I live in a factory town, so very likely), but I hear a lot of grumbling about prices and the cost of living. I've also seen an increase in the number of posts I see on FB and Twitter about it too.

I think median household income where I live is like $107k. (Toledo, OH is like $40k, I know you're not quite in Toledo any more, but close). Most of the grumbling is about cars + houses + vacations.

Fundamentally, I think wages need to go up. Raising minimum wage would make a big difference in a lot of lives, for example.

Rent is getting weird. Corporate ownership of housing (apartments, houses, etc) is growing and has been for many years. This has helped raise housing prices a lot with the extra demand. And now, instead of buying houses, more people are becoming renters.

According to Statista, in 2021, 34% of U.S. households were rented, which represents 35% of the U.S. population. This number has been increasing since 2010

Social Security increases are based off inflation, yet those benefits only went up 8%.

That's where the "LOL yeah 8%" comments come from.

GORDON wrote: ↑Wed Jul 12, 2023 7:12 pm Social Security increases are based off inflation, yet those benefits only went up 8%.

That's where the "LOL yeah 8%" comments come from.

SS is up 14.6% over the past 2 years (2022 + 2021) alone.

Nevermind everything's great. Yay, inflation is going up less fast. That's great news.

SS adjustments lag inflation. So if inflation goes up 5% in 2022, SS gets adjusted for 2023. So they'll always feel the pain first.

Capital-D, before it's all over. Sticking with the prediction.

GORDON wrote: ↑Fri Jul 28, 2023 6:16 pm Capital-D, before it's all over. Sticking with the prediction.

Certainly possible, but man those odds look low. Should buy it in Vegas if you can.

Yellow goes under putting 30K out of work.

This has to be poor management. There is a massive shortage of truckers. The majority of these people will be hired immediately by other firms.

From what I've read, the trucking industry is in the same race to the bottom as most other industries. Lots of truckers say, 'im glad I'm retiring, pay, benefits, and requirements keep getting worse and worse. I wouldn't start today with how these kids are treated "

I have no doubt that's true. Companies have to keep squeezing every conceivable penny out to keep their Wall St masters happy.

We are rapidly approaching a reckoning.

Also, coming soon Gen X isn't ready for retirement.

Leisher wrote: ↑Mon Jul 31, 2023 2:43 pm Also, coming soon Gen X isn't ready for retirement.

good, they can keep working to make the economy grow!

US credit ranking downgraded to AA+.

The CNN "bullet points" there say the last minute debt ceiling bill and Jan 6th were major factors. However, I could not find Jan 6th mentioned in the article I looked at with comments from Fitch. Instead, they mentioned the debt ceiling bill and the constantly growing, crippling debt that the U.S. owes.

The world is telling us to pay down our debt. Let's see how our government handles it.

Blackrock and MSCI under investigation for illegal investments in blacklisted Chinese companies.

Call me crazy, but that sounds like treason. If executives don't go to jail for these decisions, why bother having laws?

People are pissed about restaurant "service fees".

They should be as they're bullshit.

If you need to charge more, fine. However, put it in the prices of your menu items. Don't stick something on the bill that isn't advertised.

Leisher wrote: ↑Mon Aug 07, 2023 12:50 pm People are pissed about restaurant "service fees".

They should be as they're bullshit.

If you need to charge more, fine. However, put it in the prices of your menu items. Don't stick something on the bill that isn't advertised.

After being in Europe for 3 weeks, I'm ready to get rid of tipping, too.

But yeah, just raise your prices. I assume maybe they don't want to print new menus?

TheCatt wrote: ↑Mon Aug 07, 2023 1:05 pm I assume maybe they don't want to print new menus?

I've been noticing many restaurants have laminated menus they printed off an inkjet or the QR codes on tables. I think big fancy menus are for chain restaurants.

6 large US banks facing credit downgrades.

Everything is fine.

HSBC exec rips UK for being "weak" because it followed the US' lead on China.

This is such a great example of how greed and ambition blinds people to long term consequences and current events.

He doesn't give two shits about China's slavery, genocide, oppression, continued manufacture of CFCs, spying on other countries, stealing of IP, and so on. All he cares about is his own bank account.