Inflation.......... ?

[Hobo Hilton]

Inflation is fixing inflation.

That has been the FED's plan all along.
More inflation to tame inflation.
The plan is working, but it is painful for the working class.
Great propaganda for the Government.... Make more / spend more / buying the same shit now as before the pandemic at a higher price.

 

[Cody S]

I have been told by a reliable source (Former Vice President Joe Biden) that inflation is not a big deal folks.

 

[Hobo Hilton]

I have been told by a reliable source (Former Vice President Joe Biden) that inflation is not a big deal folks.

He got that info from Janet Yellen.

 

[Hobo Hilton]

The salary a family of 4 needs to get by in every U.S. state—it’s more than $150,000 in the most expensive one​

https://www.cnbc.com/2024/06/20/the-salary-a-family-of-4-needs-to-get-by-in-every-us-state.html

 

[Malum Prohibitum]

I have a family of four (it was six, but two are now adults living on their own). I do not spend anywhere near $106k annually (the minimum to "get by" my state).

I spend in the 70s annually, and there is a lot of waste and luxury built into that.

Maybe I am not "getting by???" Oh, no. LOL. Nice house, smaller than most, but nice, a huge book collection, fancy firearms, even a long range 6GT, reloading setup, a couple nice cars, even if they are getting a little age on them. The wife and I even have fancy newish iPhones. I even have TWO not just one Sirius satellite radio subscriptions. We are not in poverty. We live well.

Maybe I should take a look at SmartAsset's "study" to see what is in a typical budget. Then again, nah. I'm doing fine not spending all that. No need to look at what they think I should spend.

 

[Malum Prohibitum]

Oh, wait.

Sorry, Hobo Hilton. I did not mean to undermine your inflation narrative about how we are all drowning in rising expenses. Carry on.

I'll even help.

My groceries and gas are more expensive. They are still built into that 70 something thousand pushing up toward 80 thousand annual spend for my family of four.

 

[Hobo Hilton]

Kashkari said it would probably take “a year or two” to get inflation back to the Fed’s 2% target. That prediction is not far off the median Fed forecast.

https://www.marketwatch.com/story/feds-kaskhari-sees-some-signs-of-some-softening-in-the-economy-edc6bf21

 

[Malum Prohibitum]

Not in time for November.

And we know voters blame the White House, right or wrong. History tells us that every four years.

 

[Malum Prohibitum]

Maybe we'll get lucky and they blame the Senate, too, and it will no longer be under Democrat control.

I can hope.

 

[Hobo Hilton]

Oh, wait.

Sorry, Hobo Hilton. I did not mean to undermine your inflation narrative about how we are all drowning in rising expenses. Carry on.

I'll even help.

My groceries and gas are more expensive. They are still built into that 70 something thousand annual spend for my family of four.

No harm, no foul.

And that is one of the issues of these studies. The Government numbers don't align with studies like this one. Keeping the COLA number low goes in the Government's favor.

To validate your number -

• Average household income: The average family household income was $74,755 in 2022. (Yes, a somewhat older study)

Average salary in the U.S. in 2024

The highest average earners are aged between 35 and 44.

www.usatoday.com

 

[IronSkillet]

Kashkari said it would probably take “a year or two” to get inflation back to the Fed’s 2% target. That prediction is not far off the median Fed forecast.

https://www.marketwatch.com/story/feds-kaskhari-sees-some-signs-of-some-softening-in-the-economy-edc6bf21

Kashkari said it would probably take “a year or two” to get inflation back to the Fed’s 2% target. That prediction is not far off the median Fed forecast.

https://www.marketwatch.com/story/feds-kaskhari-sees-some-signs-of-some-softening-in-the-economy-edc6bf21

Ya whatever Neel says is bible. Do these people believe this BS. Cracks in the economy continue to grow, you can window dress it any way you want the buying power of the dollar continues to decline. Neel is propaganda.

 

[Hobo Hilton]

Ya whatever Neel says is bible. Do these people believe this BS. Cracks in the economy continue to grow, you can window dress it any way you want the buying power of the dollar continues to decline. Neel is propaganda.

The goal of the DC crowd is to build their wealth and retirement accounts / pension. Their plan is working.

 

[IronSkillet]

IRS Abacus, inflation and its impact on household incomes; for all those believers that the credit cards are rewarding them for charging by giving them some kind of kickback. Probably someplace in that transaction a bank is skimming up to 3% of the transactions cost. Yes we understand you are paying that card off before incurring interest, that’s great. As the ability to track transactions electronically increases eventually it only seems feasible that the IRS will know how much dollar wealth a person has available, if you cross out of that range enough will this be cause a closer look from the authorities? Most of us at one time or another have probably received the form letter from the bank saying we have
discovered our computer system has been compromised by unknown hackers and we are providing you free credit monitoring for the next 100 years blah blah blah. Great not only did they not protect my information but now trying to look like good guys they are allowing a third party to monitor my finances, apparently I agreed to this when I opened the account but who says who these third party companies are sharing this information with? What if they are selling this information to the government, could never happen don’t be so sure about that. The more we embrace the convinces offered by electronic financial transactions the more we sink into financial quicksand. Occasionally I prefer to pay bills with money orders over checks from my bank, many reasons for doing this. Wmart has usually provided easy money orders cheaper than many competitors. It seems they have recently changed how they process and provide this service, they want to create a customer portal by using the customer's phone number. I’m all about a company providing excellent customer service but when it starts to collect my personal information like financial crumbs that are going to be stored in the cloud that is already providing credit monitoring that may or may not being shared with the government. Is it really about me or is it to better assist the IRS in monitoring my personal finances? Credit cards are banks, banks are not our friends.

 

[Hobo Hilton]

Inflation target must be "ZERO". American's wages / pensions need to increase to simply break even. Anything less is a losing proposition.
_________________________________

Consumers also anticipate that inflation will remain high in the coming years, projecting that it will hover around 2.9% three years from now – up from February's 2.7% and January's 2.4%. However, they expect that inflation will cool to 2.6% five years from now, according to the survey.
That remains above the Fed's 2% target, indicating that sticky inflation could be here to stay. By comparison, central bank policymakers projected in their latest economic forecasts that inflation will fall to 2.1% by 2025 and eventually settle at around 2% in 2026

Americans see inflation rising again in the long term, key NY Fed survey shows

A New York Federal Reserve survey published on Monday found that many American consumers expect inflation to remain abnormally high in the coming years.

www.foxbusiness.com

 

[Hobo Hilton]

By the time land is purchased, local building codes are met, materials purchased, qualified workers hired, services are brought in there is no way "affordable housing" can be built. It is just a fact.
_________________

Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden​

Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing.

The announcement came days before President Joe Biden faces off against former President Donald Trump in the first presidential debate, where inflation is likely to be a key point of contention.

https://www.cnbc.com/2024/06/24/yellen-affordable-housing-fund-biden-election-shelter-inflation.html

 

[IronSkillet]

By the time land is purchased, local building codes are met, materials purchased, qualified workers hired, services are brought in there is no way "affordable housing" can be built. It is just a fact.
_________________

Yellen announces $100 million affordable housing fund as shelter costs weigh on Biden​

Treasury Secretary Janet Yellen on Monday unveiled a new slate of financing initiatives to support housing development, including a $100 million fund specifically for affordable housing.

The announcement came days before President Joe Biden faces off against former President Donald Trump in the first presidential debate, where inflation is likely to be a key point of contention.

https://www.cnbc.com/2024/06/24/yellen-affordable-housing-fund-biden-election-shelter-inflation.html

What the heck, as the wheel turns, no this is more of a circus like plan, so it must be the merry-go-around.

 

[Hobo Hilton]

​

​

Fed Governor Bowman says she’s still open to raising rates if inflation doesn’t improve​

Federal Reserve Governor Michelle Bowman said Tuesday the time is not right yet to start lowering interest rates, adding she would be open to raising if inflation doesn’t pull back.

“Should the incoming data indicate that inflation is moving sustainably toward our 2 percent goal, it will eventually become appropriate to gradually lower the federal funds rate to prevent monetary policy from becoming overly restrictive,” Bowman said in prepared remarks for a speech in London. “However, we are still not yet at the point where it is appropriate to lower the policy rate.”

https://www.cnbc.com/2024/06/25/fed-governor-bowman-says-shes-still-open-to-raising-rates-if-inflation-doesnt-improve.html

 

[Hobo Hilton]

​

Key Points​

• Prices in April rose 6.3% compared with April 2023, according to the S&P CoreLogic Case-Shiller National Home Price Index.
• Home prices are now 47% higher than they were in early 2020, with the median sale price now five times the median household income.
• Half of all renter households — more than 22 million — spent more than 30% of their income on housing this year, which is considered “cost burdened.”

Here’s how bad housing affordability is now​

https://www.cnbc.com/2024/06/25/housing-affordability-price-mortgage-rates.html

 

[Hobo Hilton]

At every turn, inflation is making life more difficult.

80% of Americans are dealing with a cost of living creep​

80% of Americans are dealing with a cost of living creep

Housing prices, grocery prices and other everyday expenses are rising, leaving a majority of Americans unable to deal with spikes in costs.

www.foxbusiness.com

 

[Snuby642]

Going to be back to beans and mo fo's soon.