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

[Alpine 338]

Went in and paid my property taxes yesterday. Between building on it (improvements) which doubled my taxes, and value increases from COVID-19, I'll see even higher taxes next year.

My opinion, the essentials for living such as shelter, heat, and food should not be taxed.

 

[Hobo Hilton]

Went in and paid my property taxes yesterday. Between building on it (improvements) which doubled my taxes, and value increases from COVID-19, I'll see even higher taxes next year.

My opinion, the essentials for living such as shelter, heat, and food should not be taxed.

I agree with you. What you have described is the "Doubled Edge Sword"....
We now have elected officials and government employees who never ran a small business or balanced a budget.
"We The People" have given them a blank check to run a government without checks and balances.
The downfall will be brutal on the working middle class.... The crash landing after the fall will be brutal to every person living in America.

 

[NoDopes]

Flooding of illegal immigrants all on welfare isn't helping

 

[Hobo Hilton]

Flooding of illegal immigrants all on welfare isn't helping

The immigrants are well aware of how to survive, how to steal and who to kill in order to get what they need...... They brought those skills from the shit hole countries they left behind. You are simply out numbered. Let the phrase "Force Multiplier" sink in. That local Sheriff's Deputy you grew up with and go fishing with will be protecting his own family and home. You might as well sit down and write a letter to your Congressman.

 

[Hobo Hilton]

Inflation is here to stay. Lumber prices may have dropped but the cost of the "middle man" is increasing.

Home Depot says it will spend $1 billion to give hourly workers a raise

Home Depot is the latest retailer to signal that the labor market is still tight.

www.cnbc.com

 

[Hobo Hilton]

Prices will not be coming down.
__________
TOKYO, Feb 22 (Reuters) - Toyota Motor Corp (7203.T), the world's biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay.
As one of Japan's biggest employers, Toyota has long served as a bellwether of the spring labour talks, which are in full swing at major companies. Many are expected to conclude swiftly as the government seeks inflation-beating wage hikes to ease burdens on consumers.
The automaker's incoming president Koji Sato said the decision to accept the union's demands in full at the first round of talks was meant not just for Toyota but "also for the industry as a whole, and in the hope that it will lead to frank discussions between labour and management at each company."

Toyota accepts union demands for biggest wage hike in two decades

Toyota Motor Corp , the world's biggest automaker, said on Wednesday it would accept a union demand for the biggest base salary increase in 20 years and a rise in bonus payments, as Japan steps up calls for businesses to hike pay.

www.reuters.com

 

[Hobo Hilton]

Ordering seeds for my garden.
The cost of seeds plus shipping are double what they were last year.
Cost of weed guard (or similar) is up considerably.
Shipping cost, in some cases are up 75% from last year.
Seems like an indicator that food cost will continue to rise as we move into summer.

 

[Alpine 338]

Ordering seeds for my garden.
The cost of seeds plus shipping are double what they were last year.
Cost of weed guard (or similar) is up considerably.
Shipping cost, in some cases are up 75% from last year.
Seems like an indicator that food cost will continue to rise as we move into summer.

Shipping i.e. USPS/FedEx/UPS have all slowed down. Initial Tracking is always wrong, with many delays. USPS is getting so bad that Congress and Senators are pinging the Post Master General, who is just brushing it off.

 

[Hobo Hilton]

Shipping i.e. USPS/FedEx/UPS have all slowed down. Initial Tracking is always wrong, with many delays. USPS is getting so bad that Congress and Senators are pinging the Post Master General, who is just brushing it off.

Watching the "House of Cards" collapse in slow motion.
Best look into the future and stock up on disappearing items.
Going through my seeds and garden planning today.

 

[Hobo Hilton]

A drowning man grasping for a life ring. 2023 has been written off and there is "hope" for 2024. Snug your belt.
_______________

WASHINGTON, Feb 27 (Reuters) - Inflation for a broad array of services in the United States remains "stubbornly high," Federal Reserve Governor Philip Jefferson said Monday, though slower-growing wages might help slow prices in those parts of the economy as well.

Though the Fed has seen some progress in slowing price increases for goods and expects the same to happen in housing, inflation continues for services ranging from restaurants to medical care -- and will likely need to slow for the central bank to make clear progress back towards its 2% inflation target.


"Core goods inflation has started to come down. Several indicators suggest that housing services inflation is likely to come down in the coming months. There is more uncertainty surrounding inflation in core services excluding housing," Jefferson said in remarks to a Harvard University economics class.

"The inflation outlook for this nonhousing category of core services partly depends on whether growth in nominal labor costs comes back down, and recent data suggest that labor compensation has indeed started to decelerate somewhat over the past year."

Fed's Jefferson: "No illusion" inflation fight will be quick

Inflation for a broad array of services in the United States remains "stubbornly high," Federal Reserve Governor Philip Jefferson said Monday, though slower-growing wages might help slow prices in those parts of the economy as well.

www.reuters.com

 

[Hobo Hilton]

Inflation has not been tamed. Prices are not going to come down.

Delta pilots approve new contract with 34% raises

The deal for Delta pilots includes 34% raises over the next four years.

www.cnbc.com

 

[gigamortis]

To tame inflation, lending rates will have to surpass the inflation rate.

 

[Hobo Hilton]

To tame inflation, lending rates will have to surpass the inflation rate.

Of course... Paul Volcker proved that, long ago.
Jerome Powell and the FED knew this. The rates should have been raised rather than continue to hand out the "Free Money" from the Government.
To argue this is similar to rearranging the deck chairs on the Titanic.
Take care of you and your family.

No one is coming.

 

[Hobo Hilton]

This is a non-scientific study by one old guy on a fixed income.

Without quoting government statistics or giving specific information. Since the first of 2021, how much more are things costing ?

My example is how much I pay for pelleted chicken feed. My cost is up 3.5% since 1/1/2021.

Hobo

View attachment 7823212

Bought chicken feed today (pellets)....... $23 / 50 lbs......
Up 20% since I started this conversation.
I'm sure it is cheaper where some of you buy. I tried the cheap feed and my chickens stopped laying due to lack of protean. They are back to laying, now.
I can't afford to drive from Montana to Mississippi to save $2 / bag. Cost on everything is regional and distance from mega warehouses plays a part.

 

[Hobo Hilton]

UK grocery price inflation hits record 17.1%

British grocery inflation hit 17.1% in the four weeks to Feb. 19, another record high, dealing the latest blow to consumers struggling with a cost-of-living crisis, industry data showed on Tuesday.

www.reuters.com

 

[WaltHer]

Well, some folks are still "banking" on the U$D...

Lebanon leans on US dollar to cope as currency, economy tank

BEIRUT (AP) — When Moheidein Bazazo opened his Beirut mini-market in 1986, during some of the fiercest fighting in Lebanon’s civil war, he didn't expect it to thrive. But several years later, he had shelves full of food and needed 12 employees to help him manage a bustling business.

apnews.com

 

[Hobo Hilton]

Federal Reserve policymakers will need to raise interest rates higher and keep them there longer to tackle the higher prices caused by sticky inflation, San Francisco Fed President Mary Daly said Saturday.
“It’s clear there is more work to do,” Daly said in a speech at Princeton University. “In order to put this episode of high inflation behind us, further policy tightening, maintained for a longer time, will likely be necessary.”

https://www.cnn.com/2023/03/05/investing/fed-mary-daly-speech/index.html

 

[Hobo Hilton]

Used vehicle prices rising at an unseasonably strong rate

Cox Automotive reports wholesale used vehicle prices increased 4.3% in February from January — marking the largest increase between the two months since 2009.

www.cnbc.com

 

[Hobo Hilton]

The longer inflation continues, the more damage it is doing to the American economy.
As more pay raises take effect, the chance of prices coming down to pre-pandemic levels dwindles.
The effect of free money is being seen.

American Airlines CEO tells pilots the carrier will match Delta's pay

Last week, Delta became the first of the biggest U.S. airlines to reach a new contract with its pilots, inking 34% cumulative raises and other quality-of-life improvements.

www.cnbc.com

 

[Hobo Hilton]

Wage growth decelerated slightly, with those remaining in their jobs seeing a 7.2% annual increase, down 0.1 percentage point from a month ago. Job changers saw growth of 14.3%, compared with 14.9% in January.

Private payrolls rose by 242,000 in February, better than expected, ADP says

Companies added jobs at a brisk pace in February as the labor market kept humming, payroll services firm ADP reported Wednesday.

www.cnbc.com

 

[Hobo Hilton]

At this rate prices will NEVER come down and inflation will "break the bank" of the middle class.
_______________

US President Biden to propose largest pay hike for federal employees in 43 years

This would be the largest pay increase for around 2.1 million federal employees since a 9.1 percent increase in 1980, the report added. However, it would still be lower than the 8.7 percent raise, which was called by several democrats and federal employee unions.

www.cnbctv18.com

 

[IronSkillet]

jfk-vs-fed.html

 

[Hobo Hilton]

An estimated 31% of new vehicles were sold above MSRP last month, according to a joint forecast from J.D. Power and LMC Automotive. That’s down from a high of 48% in July.

31% of new cars sold for above sticker price last month. These 10 models have the biggest premiums

Even though new car buyers are paying less of a premium than a year ago, the average sale is 8.8% above the manufacturer's suggested retail price, or MSRP.

www.cnbc.com

 

[nikonNUT]

This is a bit off track but troubling...

Silicon Valley Bank collapses in biggest failure since 2008

Silicon Valley Bank became the biggest U.S. bank failure in more than a decade, after its long-established customer base of tech startups grew worried and yanked deposits.

www.latimes.com

"Silicon Valley Bank became the biggest U.S. lender to fail in more than a decade after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus by the tech startups that had fueled the lender’s rise."

"The bank had about $209 billion in total assets and about $175.4 billion in total deposits at the end of last year, the FDIC said Friday."

 

[Hobo Hilton]

This is a bit off track but troubling...

Silicon Valley Bank collapses in biggest failure since 2008

Silicon Valley Bank became the biggest U.S. bank failure in more than a decade, after its long-established customer base of tech startups grew worried and yanked deposits.

www.latimes.com

"Silicon Valley Bank became the biggest U.S. lender to fail in more than a decade after a tumultuous week that saw an unsuccessful attempt to raise capital and a cash exodus by the tech startups that had fueled the lender’s rise."

"The bank had about $209 billion in total assets and about $175.4 billion in total deposits at the end of last year, the FDIC said Friday."

Yep......... Many in the financial world likened this situation to the first bank that failed during "The Great Recession"... Reading between the lines that means there will be more banks failing. The size of this failure ($$$) was record setting.
No talk today of a soft landing.

 

[Emerson0311]

No kidding on the window prices, crazy high, but what do you do, put plastic over the opening and hope prices come down?

That’s how I lived as a kid. We may be closer to it than we think.

 

[Hobo Hilton]

That’s how I lived as a kid. We may be closer to it than we think.

Plastic will be a luxury....... Cardboard will be for the middle class.
Those that are destitute will get replacement windows, paid for by the Government. The government will also pay their electric bills for heating and cooling.
Best work on a deep tan and a Hispanic accent

 

[babyguppy]

nothing like a 1.5% yearly increase in your job, to enjoy and watch the 25% - 50% increase in food prices.

 

[Hobo Hilton]

.............. stubbornly high .............. Credit Jerome Powell and the politicized FED Reserve.

Elevated Inflation Cooled Last Month, But Remains Stubbornly High -- Market Talk​

Today 9:40 AM ET (Dow Jones)Print

0940 ET - The consumer-price index rose 6% in February from a year earlier, versus a 6.4% gain the prior month, the slowest pace since September 2021. The smaller increase comes as the Fed contemplates its next interest rate move while confronting price pressures and bank failures. When excluding volatile food and energy prices, consumer prices advanced 5.5% from a year earlier in February compared with 5.6% in January. Economists view so-called core prices as a better indicator of future inflation. Consumers paid less last month to heat their homes, and prices for medical services and used cars fell as well. Gasoline and food prices both increased, but at a slower pace than they did in January. Shelter costs increased 0.8% over the month. Year-over-year inflation has cooled from a recent peak last June, but has remained stubbornly high. ([email protected])

 

[Hobo Hilton]

CPI Inflation Calculator

www.bls.gov

 

[Hobo Hilton]

“The Fed will acknowledge that they were late to the game, that inflation has been more persistent than they were expecting. So they probably should have tightened sooner,” said Gus Faucher, chief economist at PNC Financial Services Group. “That being said, given the fact the Fed has tightened as aggressively as they have, the economy is still very good.”

One year after the first rate hike, the Fed stands at policy crossroads

The Fed in some ways is both closer and further away from its goals when it first started raising rates.

www.cnbc.com

 

[Hobo Hilton]

“They have to do something, otherwise they lose credibility,” said Doug Roberts, founder and chief investment strategist at Channel Capital Research. “They want to do 25, and the 25 sends a message. But it’s really going to depend on the comments afterwards, what Powell says in public. … I don’t think he’s going to do the 180-degree shift everybody’s talking about.”

Fed poised to approve quarter-point rate hike next week, despite market turmoil

Chairman Jerome Powell and his fellow central bankers will want to signal that it's important to continue the fight to bring down inflation.

www.cnbc.com

 

[Hobo Hilton]

You might be better off sticking to the Dollar Menu on your next visit to McDonald’s.
A recent study shows that price of the fast food chain’s flagship Big Mac sandwich is hitting new highs.
CashNetUSA reviewed Big Mac prices in all 50 states to determine where customers pay the most and pay the least for the iconic burger with two all beef patties, special sauce, lettuce, cheese, pickles, onions on a sesame seed bun.

Big Mac prices are up: Here's how much you'll pay for McDonald's signature sandwich state by state

A recent study shows that price of the fast food chain's flagship Big Mac sandwich is reaching new all-time highs.

www.cnbc.com

 

[Hobo Hilton]

Worldwide... No let up insight.

U.K. inflation unexpectedly jumped in February, as food and energy bills continued to rise, placing further pressure on households.
The consumer price index (CPI) increased by an annual 10.4%, above the 9.9% consensus forecast among economists in a Refinitiv poll and up from 10.1% in January. On a monthly basis, CPI inflation was 1.1%, exceeding a forecast of 0.6%.

UK inflation rate breaks 3-month stretch of declines with surprise rise to 10.4%

U.K. inflation unexpectedly jumped in February as food and energy bills continued to soar, placing further pressure on households.

www.cnbc.com

 

[Hobo Hilton]

Coming to America, soon. There is no truth in the figures of the FED Reserve or the US Government bean counters.

The unexpected rise following three consecutive months of modest declines proves that the cost-of-living crisis is far from over and intensifies pressure on the Bank of England to further hike interest rates, possibly as early as this week. According to the Office for National Statistics (ONS), the consumer prices index measure of inflation rose to an annual rate of 10.4 per cent in February from 10.1 per cent in January. Most economists had been forecasting a fall to 9.9 per cent in February.
In last week’s spring Budget, Jeremy Hunt pledged to halve inflation this year and the Office for Budget Responsibility (OBR) is projecting a rate of just 2.9 per cent by the end of 2023. The latest data will have sent a shiver through the Treasury, particularly the revelation that food inflation has hit its highest level in 45 years. Supermarkets have been attempting to keep a lid on price hikes but some eye-watering increases are now being passed on to shoppers. Higher utility costs are also in the pipeline when the energy price cap rises in April and government support ends.

https://www.scotsman.com/business/inflation-creep-the-price-shock-facing-consumers-businesses-and-bank-of-england-policymakers-4074806

 

[babyguppy]

LOL 10% hahahah..... a FK of a lot higher than that...
maybe 10% higher on TOP of the 10%, on top of that 10%...
headline should be
American's' facing inflation rates of 50% - 300% higher since Biden was elected

 

[Hobo Hilton]

"The FED's have Won the War".... Time to celebrate ! !

Fed hikes rates by a quarter percentage point, indicates increases are near an end

The Federal Reserve on Wednesday released its decision on interest rates following a two-day meeting.

www.cnbc.com

 

[Hobo Hilton]

Certainly sounds like a "racist" remark and plan. Most of the depositors in banks are white and affluent.
Perhaps the reparation will put more black's in a position to keep money in the bank.
But... IDK
__________________________
Only 44% of Black Americans have retirement savings accounts, with a typical balance of around $20,000, compared to 65% of white Americans, who have an average balance of $50,000, according to the Federal Reserve.Feb 2, 2022

Black Americans' lack of participation in the stock market likely to widen post-pandemic wealth gap

The majority of Black Americans missed out on the hefty gains from the stock market over the past two years due to historically low equity ownership.

www.cnbc.com

WASHINGTON — Federal bank regulators are prepared to do whatever is needed to “ensure that depositors’ savings remain safe” in U.S. banks, Treasury Secretary Janet Yellen told members of the Senate Appropriations Committee on Wednesday.

'Blanket insurance' of bank deposits is not being discussed, Yellen tells senators

Treasury Secretary Janet Yellen has not discussed or considered any plans to guarantee all bank deposits following the Silicon Valley Bank collapse, she said.

www.cnbc.com

 

[Hobo Hilton]

Obviously "Inflation" has not been tamed. The FED Reserve is failing miserably and "We the People" are suffering due to the bail out's and being politicized.
The longer this goes on, the more it appears to be the "norm". People needing to put a roof over their heads are being sold a bill of goods.
____________________________________________
The average contract rate for a 30-year, fixed-rate mortgage, the most popular home loan, fell to a six-week low of 6.45%, MBA said.
"While the 30-year fixed rate remained 1.65 percentage points higher than a year ago, homebuyers responded, leading to a fourth straight increase in purchase applications

US mortgage refinancings hit 6-month high on rates drop, MBA says

U.S. residential mortgage refinancing activity climbed to a six-month high last week, a trade group said on Wednesday, fueled by a third straight weekly drop in borrowing costs on the heels of a pair of major bank collapses that have clouded the outlook for interest rates.

www.reuters.com

 

[Hobo Hilton]

Every time a 2 year labor agreement is locked in place, the "hope" of prices going back to pre-pandemic levels is diminished.
Very, very seldom is a Union wage and benefit package forfeited at the next negotiating session.
The Silver lining to this cloud is there will be less riff raff on airplanes.
______________________________
United Airlines has reached tentative agreements with a union representing nearly 30,000 ground workers, the labor group said Wednesday.
The International Association of Machinists and Aerospace Workers said the two-year tentative agreements cover “industry-best” wage rates, as well as job protection and certain guards against outsourcing roles. The specific terms of the contracts were not disclosed.

United Airlines reaches tentative labor agreements with ground workers union

United Airlines has reached tentative agreements with a union representing nearly 30,000 ground workers, the labor group said Wednesday.

www.cnbc.com

JetBlue is preparing to trim New York flights in response to FAA staffing shortage, CEO says

The Federal Aviation Administration will let airlines reduce schedules congested airports as due to air traffic controller shortages.

www.cnbc.com

 

[Hobo Hilton]

Fed's Cook: watching credit conditions in calibrating interest rates

(Reuters) -U.S. Federal Reserve Board Governor Lisa Cook on Friday said she is watching credit conditions closely and will factor in potential economic headwinds from recent banking sector turmoil as she weighs the right level

www.oann.com

 

[Hobo Hilton]

Worldwide

Egypt announces 2% rate hike as inflation worsens

Egypt's Central Bank announced that it raised the overnight deposit rate from 16.25% to 18.25%, with nationwide inflation seeing a 6.4% spike in a single month.

www.foxnews.com

 

[Hobo Hilton]

WASHINGTON - Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that while the economy appears on a path toward slowing down, the United States central bank likely has more rate rises ahead of it.12 mins ago

Fed’s Mester sees more US rate rises ahead

WASHINGTON - Federal Reserve Bank of Cleveland President Loretta Mester said on Tuesday that while the economy appears on a path toward slowing down, the United States central bank likely has more rate rises ahead of it. Read more at straitstimes.com.

www.straitstimes.com

 

[Hobo Hilton]

Inflation is not being tamed.

U.S. Postal Service seeks to hike stamp prices by 5.4%

The United States Postal Service (USPS) on Monday said it was seeking approval to hike the price of first-class mail stamps to 66 cents from 63 cents.

www.reuters.com

 

[Hobo Hilton]

If anyone reading this headline believes the numbers, please leave a comment.

Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold​

Inflation rises just 0.1% in March and 5% from a year ago as Fed rate hikes take hold

The consumer price index, a widely followed inflation measure, rose 0.1% for the month and 5% from a year ago, both less than expected.

www.cnbc.com

Restaurant prices are rising faster than grocery prices for the first time since inflation ran hot

March marks the first month since inflation started accelerating in 2021 that restaurant prices outpaced grocery prices on a 12-month basis.

www.cnbc.com

 

[Hobo Hilton]

Paying the Piper for all that free Government money.

 

[babyguppy]

Paying the Piper for all that free Government money.
View attachment 8118943

LOL on Gas....... PHX is still going UP UP UP

 

[NoDopes]

In CBO’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033. Real GDP growth comes to a halt in 2023 and then rebounds, averaging 2.4 percent from 2024 to 2027.

Buckle up boys, this shit is going to get serious.

The Budget and Economic Outlook: 2023 to 2033

In CBO’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033. Real GDP growth comes to a halt in 2023 and then rebounds, averaging 2.4 percent from 2024 to 2027.

www.cbo.gov

 

[Hobo Hilton]

Buckle up boys, this shit is going to get serious.

The Budget and Economic Outlook: 2023 to 2033

In CBO’s projections, the federal deficit totals $1.4 trillion in 2023 and averages $2.0 trillion per year from 2024 to 2033. Real GDP growth comes to a halt in 2023 and then rebounds, averaging 2.4 percent from 2024 to 2027.

www.cbo.gov

 

[Hobo Hilton]

If anyone really wants to know what the real inflation numbers are, all they have to do is to pay attention to the reporting of large corporations.
All that is showing up in these reports is "inflation". These companies are not expanding, building new factories or inventing new processes.
Here is an example. They are being "lauded" for beating expectations. all they are doing is posting the real inflation numbers..
Not profit or sales increases, just inflation increases.
American's are the dumbest race of people on the face of this Earth.
_____________________________

The bank said profit jumped 52% to $12.62 billion, or $4.10 per share, in the first three months of the year. That figure includes $868 million in losses on securities; excluding those losses lifts earnings by 22 cents per share, resulting in adjusted profit of $4.32 per share.
Companywide revenue rose 25% to $39.34 billion, driven by a 49% rise in net interest income to $20.8 billion, thanks to the Federal Reserve’s most aggressive rate-hiking campaign in decades.
Shares of the bank popped 7.3% in morning trading.

JPMorgan Chase posts record revenue on higher interest rates; shares jump 7%

The biggest U.S. bank by assets showed that its core business was thriving as net interest income surged almost 50% from a year ago.

www.cnbc.com