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

[96coal449]

I had been doing okay ...... not great but not horrible either. I was still in my boat and didn't have to tread water.
My only source of heat is a wood furnace. Yesterday I went up and cleaned the SS liner in the masonry chimney. I found the liner ruptured 3' from the top. Replacement materials total at 3Gs. I am not ready for this expense. My boat sank. I will be treading water for a few months. Nothing like living on the ragged edge. I will now be minimizing and watching my expenses like a hawk.

 

[kenny1773]

Honestly, it’s cheaper for me to pay the fine for driving without insurance than it is to have insurance.

I get a ticket every 10 years or so, and if I can keep that record going then I’d save over $50,000 in insurance cost. I’d say having to pay couple of hundred dollar ticket every decade is a fair trade off.

I really do not view insurance this way

I get from your posts that you own property, so I will conclude you are not a poor.

Are you not concerned that some accident happens, someone dies, and you are held liable?

You can skip the "I am a good driver" comment, that isn't what I mean, you can be in an accident no matter your driving skills, and some idiot might make the determination that you at fault even if you aren't.

I don't pay for insurance simply to cover the value of my car, I pay for auto insurance to protect my net worth. I don't give a shit about the car.

Try to make this story quick, back in 2010 or so, I had a friend that had a 20 year old son still living at home with him. That son did not have his own car, but his dad let him use the family car that the dad owned. Son took his car over to a friends house where son's girlfriend and other friends were hanging out on a Saturday night. Son's girlfriend said hey let me borrow your car, I need to go pickup Lisa and bring her here she doesn't have a ride. Son said ok, here are the keys go get Lisa.

Girlfriend got into an accident at an intersection (note she was not drinking or doing drugs, she was sober). Bodily harm to another driver was severe, the girlfriend ended up not being badly hurt, other person dies after multiple surgeries and 2 weeks in the hospital.

Since my friend OWNED the car, the family of the deceased sued him and won. His insurance policy max'ed out at $100,000 per person for bodily injury claim. The lawsuit was settled for wrongful death or something like that (and I am sure more than one thing) for over 1 million $$$$.

Insurance paid their $100,000 and my friend went into a debt restructuring type bullshit to get on a payment plan to pay the million +. He had to sell his house (pay out the equity), move into an apartment, and basically live like a poor for years because of this.

At this point he has paid the debt in full, but is totally fucked for any thought of being able to retire at a reasonable age, and for a decade he barely had money to live. If you get involved in the wrong sort of accident, you could lose more than just the car...

 

[Emerson0311]

I really do not view insurance this way

I get from your posts that you own property, so I will conclude you are not a poor.

Are you not concerned that some accident happens, someone dies, and you are held liable?

You can skip the "I am a good driver" comment, that isn't what I mean, you can be in an accident no matter your driving skills, and some idiot might make the determination that you at fault even if you aren't.

I don't pay for insurance simply to cover the value of my car, I pay for auto insurance to protect my net worth. I don't give a shit about the car.

Try to make this story quick, back in 2010 or so, I had a friend that had a 20 year old son still living at home with him. That son did not have his own car, but his dad let him use the family car that the dad owned. Son took his car over to a friends house where son's girlfriend and other friends were hanging out on a Saturday night. Son's girlfriend said hey let me borrow your car, I need to go pickup Lisa and bring her here she doesn't have a ride. Son said ok, here are the keys go get Lisa.

Girlfriend got into an accident at an intersection (note she was not drinking or doing drugs, she was sober). Bodily harm to another driver was severe, the girlfriend ended up not being badly hurt, other person dies after multiple surgeries and 2 weeks in the hospital.

Since my friend OWNED the car, the family of the deceased sued him and won. His insurance policy max'ed out at $100,000 per person for bodily injury claim. The lawsuit was settled for wrongful death or something like that (and I am sure more than one thing) for over 1 million $$$$.

Insurance paid their $100,000 and my friend went into a debt restructuring type bullshit to get on a payment plan to pay the million +. He had to sell his house (pay out the equity), move into an apartment, and basically live like a poor for years because of this.

At this point he has paid the debt in full, but is totally fucked for any thought of being able to retire at a reasonable age, and for a decade he barely had money to live. If you get involved in the wrong sort of accident, you could lose more than just the car...

And that’s how the system is set up. Pay up to get in, and comply to try and maintain the stuff you “own”. The game is rigged, but most are not willing to do without the stuff, so ante up anyway.

 

[Hobo Hilton]

I had been doing okay ...... not great but not horrible either. I was still in my boat and didn't have to tread water.
My only source of heat is a wood furnace. Yesterday I went up and cleaned the SS liner in the masonry chimney. I found the liner ruptured 3' from the top. Replacement materials total at 3Gs. I am not ready for this expense. My boat sank. I will be treading water for a few months. Nothing like living on the ragged edge. I will now be minimizing and watching my expenses like a hawk.

Understood. It is better to know the condition than to have a catastrophic failure during the dead of winter.
The old and wise are all watching their expenses like hawks.
You have some time to pool your resources before it gets really cold.
Hang in there.

 

[Hobo Hilton]

And that’s how the system is set up. Pay up to get in, and comply to try and maintain the stuff you “own”. The game is rigged, but most are not willing to do without the stuff, so ante up anyway.

The open boarder has resulted in "Millions" (4m - 24m) of people here with basically nothing. They are here to take what you have worked for.
Become a man with "nothing".

 

[Bigfatcock]

I really do not view insurance this way

I get from your posts that you own property, so I will conclude you are not a poor.

Are you not concerned that some accident happens, someone dies, and you are held liable?

You can skip the "I am a good driver" comment, that isn't what I mean, you can be in an accident no matter your driving skills, and some idiot might make the determination that you at fault even if you aren't.

I don't pay for insurance simply to cover the value of my car, I pay for auto insurance to protect my net worth. I don't give a shit about the car.

Try to make this story quick, back in 2010 or so, I had a friend that had a 20 year old son still living at home with him. That son did not have his own car, but his dad let him use the family car that the dad owned. Son took his car over to a friends house where son's girlfriend and other friends were hanging out on a Saturday night. Son's girlfriend said hey let me borrow your car, I need to go pickup Lisa and bring her here she doesn't have a ride. Son said ok, here are the keys go get Lisa.

Girlfriend got into an accident at an intersection (note she was not drinking or doing drugs, she was sober). Bodily harm to another driver was severe, the girlfriend ended up not being badly hurt, other person dies after multiple surgeries and 2 weeks in the hospital.

Since my friend OWNED the car, the family of the deceased sued him and won. His insurance policy max'ed out at $100,000 per person for bodily injury claim. The lawsuit was settled for wrongful death or something like that (and I am sure more than one thing) for over 1 million $$$$.

Insurance paid their $100,000 and my friend went into a debt restructuring type bullshit to get on a payment plan to pay the million +. He had to sell his house (pay out the equity), move into an apartment, and basically live like a poor for years because of this.

At this point he has paid the debt in full, but is totally fucked for any thought of being able to retire at a reasonable age, and for a decade he barely had money to live. If you get involved in the wrong sort of accident, you could lose more than just the car...

I’m picking up what you put down. I’m insured…a lot.

Jerome is not insured. He will hit your $100,000 vehicle, cause bodily harm, and pay $4 per month from his ebt…if he even pays.

It’s really a fucked up situation.

 

[96coal449]

Jerome is not insured. He will hit your $100,000 vehicle, cause bodily harm, and pay $4 per month from his ebt…if he even pays.

Insured motorists will foot the bill.

 

[Bigfatcock]

Insured motorists will foot the bill.

As we currently are, lol.

 

[kenny1773]

And that’s how the system is set up. Pay up to get in, and comply to try and maintain the stuff you “own”. The game is rigged, but most are not willing to do without the stuff, so ante up anyway.

I know the answer is to own nothing be happy, looks like you are on board (j/k)

I like to own things, so I view the insurance as just a cost of being a US citizen that owns something.

 

[Hobo Hilton]

I know the answer is to own nothing be happy, looks like you are on board (j/k)

I like to own things, so I view the insurance as just a cost of being a US citizen that owns something.

A defining moment in the life of an American.... When a person has enough to set up a "Trust".
Own nothing and be worry free.
Look around.

 

[Clob McStrunk]

I do the cooking in my house, wife does the shopping. Therefore, I rarely know what various staple ingredients cost. You know, because I thought I had a decent idea of the world.

On a whim I decided to do the grocery run last night. Have YOU PEOPLE seen the fucking price of olive oil lately? How about salt? Not talking about generic morton table salt, but good salt has jumped 30-100%. There's hardly a bottle of oil below $20. Adding insult to injury, a regular size Snickers bar is over $2.

Mother. Fuckers. Is it fucking time yet?

 

[Bigfatcock]

I do the cooking in my house, wife does the shopping. Therefore, I rarely know what various staple ingredients cost. You know, because I thought I had a decent idea of the world.

On a whim I decided to do the grocery run last night. Have YOU PEOPLE seen the fucking price of olive oil lately? How about salt? Not talking about generic morton table salt, but good salt has jumped 30-100%. There's hardly a bottle of oil below $20. Adding insult to injury, a regular size Snickers bar is over $2.

Mother. Fuckers. Is it fucking time yet?

Eat ze bugz!!

 

[96coal449]

Eat ze bugz!!

Don't forget the worms.

McDeaths holds the menu.

 

[Hobo Hilton]

The thing holding back increases in the interest rates is "Politics"....
Circling and hoping for a miracle soft landing.

US inflation remains “too high” and Bowman said she expects it’ll be appropriate for the Federal Open Market Committee “to raise rates further and hold them at a restrictive level for some time to return inflation to our 2% goal in a timely way,” according to her prepared remarks to the Connecticut Bankers Association on Saturday.
Bowman repeated her warning that “high energy prices could reverse some of the progress we have seen on inflation in recent months.”
US employment surged in September, bolstering the case for another Fed interest-rate increase. Bowman on Saturday cited Fed expectations that inflation will stay above target at least until the end of 2025, according to the median forecast released after the central bank’s September policy meeting.

Fed’s Bowman Sees Need for Higher Rates to Curb Prices

(Bloomberg) -- Federal Reserve Governor Michelle Bowman said she’s sticking with her call that interest rates will likely need to increase further to return inflation to the Fed’s 2% goal quickly.Most Read from BloombergIsrael Latest: Over 1,100 Dead; US Sends Warships to RegionAs Israel-Hamas...

ca.finance.yahoo.com

 

[Hobo Hilton]

Some accurate inflation numbers:

Amazon also says this means that minimum starting pay in its U.K. operations will have increased by 20% in two years, or 50% since 2018

Amazon hikes pay in the UK, plans to hire 15,000 seasonal workers ahead of the holidays

More than 15,000 additional seasonal workers will be hired at Amazon sites across the U.K., the company said.

www.cnbc.com

 

[Hobo Hilton]

Financial anxiety: The alarming side effect of inflation

As the cost of living increases amid an unstable economy, people are panicking about their finances. It's taking a toll on mental health and quality of life for billions.

www.bbc.com

 

[Hobo Hilton]

"FOOD"..... It's always been about the food.

Higher chicken prices should improve earnings at top producers Tyson (TSN.N) and Pilgrim’s Pride (PPC.O), but will pinch consumers’ pockets as they try to save money by turning away from higher-end proteins. One index shows chicken producer profit margins at their highest in a year.

Record chicken prices squeeze US shoppers, benefit Tyson Foods

Chicken prices at U.S. grocery stores have hit record highs as Tyson Foods and other companies dial back poultry production to boost margins.

www.oann.com

 

[Hobo Hilton]

Oct 10 (Reuters) - PepsiCo Inc (PEP.O) said on Tuesday it planned "modest" price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to raise its 2023 profit forecast for a third straight time.
Shares of the company, which owns brands including Mirinda, and Gatorade, rose nearly 2% in early trading after third-quarter profit beat estimates.
PepsiCo kicks off quarterly earnings from consumer goods firms against the backdrop of rising concerns that multiple price hikes could crimp demand, as well as countries like France pushing for price cuts to help rein in inflation.

PepsiCo aims to raise prices as steady demand spurs 2023 profit forecast lift

PepsiCo Inc said on Tuesday it planned "modest" price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to raise its 2023 profit forecast for a third straight time.

www.reuters.com

 

[Bigfatcock]

Oct 10 (Reuters) - PepsiCo Inc (PEP.O) said on Tuesday it planned "modest" price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to raise its 2023 profit forecast for a third straight time.
Shares of the company, which owns brands including Mirinda, and Gatorade, rose nearly 2% in early trading after third-quarter profit beat estimates.
PepsiCo kicks off quarterly earnings from consumer goods firms against the backdrop of rising concerns that multiple price hikes could crimp demand, as well as countries like France pushing for price cuts to help rein in inflation.

PepsiCo aims to raise prices as steady demand spurs 2023 profit forecast lift

PepsiCo Inc said on Tuesday it planned "modest" price hikes next year as demand held up despite multiple increases that prompted the snacks and beverages giant to raise its 2023 profit forecast for a third straight time.

www.reuters.com

A 12 pack is already $7.99.

 

[Hobo Hilton]

Inflation marches on.
Check my math... 0.5 / month X 12 months = 6%... And this is a "Government Number". Out here in my real world inflation is at 10% / year.

Wholesale inflation rose 0.5% in September, more than expected

The producer price index was expected to show a 0.3% increase in September, according to the Dow Jones consensus estimate.

www.cnbc.com

 

[Hobo Hilton]

Surging rents lift US consumer prices; underlying inflation grinding lower

U.S. consumer prices increased in September amid a surprise surge in rental costs, but a steady moderation in underlying inflation pressures supported financial market expectations that the Federal Reserve would not raise interest rates next month.

www.reuters.com

 

[Hobo Hilton]

Seems when I tell someone inflation is at 10% there is always folks that want to challenge my numbers while believing the "Government Numbers".
Actually my 10% number is very conservative.
Here's something (below) for you number cruncher to dabble with.
I'm on the same homestead doing exactly what I was doing at this time last year.
How much more (% wise) is it costing me ?

 

[96coal449]

What gets me is the delivery charges. On my bill there's been a few times where the charge is more than the usage.

I'm still trying to catch the driver of the delivery truck in my driveway. I'd love to give him a piece of my mind.

 

[NoDopes]

I'm still trying to catch the driver of the delivery truck in my driveway.

Here is his picture, but you'll need an electron microscope to see him.

Don't forget to tip your waitress.

 

[IronSkillet]

What gets me is the delivery charges. On my bill there's been a few times where the charge is more than the usage.

I'm still trying to catch the driver of the delivery truck in my driveway. I'd love to give him a piece of my mind.

Along the same ”lines”, are the State & Local taxes and the extra zip me franchise fees!

 

[Hobo Hilton]

Playing "Leap Frog" as a child created some great memories. As working adults the game of "Leap Frog Economics" is no fun.
Inflation increases / Wages increase / Inflation increases / Wages increase.... Until interest rates get higher than inflation, the game will continue.

Average pay growth rose above inflation for the first time in almost two years, in a sign that the squeeze on living costs may be starting to ease.
Wages rose at an annual rate of 7.8% between June and August, figures show.
That was higher than average inflation over the same three months, which measures the rate at which prices rise.
Revised figures showed pay overtook inflation in the three months to July, meaning wages are outpacing prices for the first time since October 2021.
However, the rise in wages is an average and does not mean that cost of living pressures are subsiding for everyone

Wages overtake inflation for first time in nearly two years

Average pay growth outpacing inflation suggests the squeeze on living costs may be starting to ease.

www.bbc.com

 

[Bigfatcock]

$17.88 for two family sized packages of double stuffed Oreos and a gallon of milk.

Granted the milk was Fair Life so it’s a bit pricier, but I get it because I don’t drink a lot of milk and it holds in the fridge for months. Much less waste compared to the regular milk that expires in 15 minutes.

 

[Hobo Hilton]

P&G..... Selling less while charging more.

Procter & Gamble tops earnings, revenue estimates even as volume falls again

Procter & Gamble's shares have fallen 3.7% this year, dragging its market value down to $344 billion.

www.cnbc.com

 

[charbroiled]

View attachment 8250793

Playing "Leap Frog" as a child created some great memories. As working adults the game of "Leap Frog Economics" is no fun.
Inflation increases / Wages increase / Inflation increases / Wages increase.... Until interest rates get higher than inflation, the game will continue.

Average pay growth rose above inflation for the first time in almost two years, in a sign that the squeeze on living costs may be starting to ease.
Wages rose at an annual rate of 7.8% between June and August, figures show.
That was higher than average inflation over the same three months, which measures the rate at which prices rise.
Revised figures showed pay overtook inflation in the three months to July, meaning wages are outpacing prices for the first time since October 2021.
However, the rise in wages is an average and does not mean that cost of living pressures are subsiding for everyone

Wages overtake inflation for first time in nearly two years

Average pay growth outpacing inflation suggests the squeeze on living costs may be starting to ease.

www.bbc.com

BS on wage inflation. Not seeing it in a professional field of work!!!!!!!!

 

[IronSkillet]

$17.88 for two family sized packages of double stuffed Oreos and a gallon of milk.

Granted the milk was Fair Life so it’s a bit pricier, but I get it because I don’t drink a lot of milk and it holds in the fridge for months. Much less waste compared to the regular milk that expires in 15 minutes.

Between the last year or two Oreos changed the ingredients in the “stuff”, it is a less flavorful dryer filler. When dunking the cookie, the dough- cracker like outer will fall off leaving behind the cream filling that now remains rigid and dry. Cheaper product costing more!

 

[Bigfatcock]

Between the last year or two Oreos changed the ingredients in the “stuff”, it is a less flavorful dryer filler. When dunking the cookie, the dough- cracker like outer will fall off leaving behind the cream filling that now remains rigid and dry. Cheaper product costing more!

I agree. I’m going to try another brand after this batch runs out.

 

[Hobo Hilton]

BS on wage inflation. Not seeing it in a professional field of work!!!!!!!!

Those on the Government payroll might disagree.

 

[Hobo Hilton]

Between the last year or two Oreos changed the ingredients in the “stuff”, it is a less flavorful dryer filler. When dunking the cookie, the dough- cracker like outer will fall off leaving behind the cream filling that now remains rigid and dry. Cheaper product costing more!

You can thank Mondeleze.

Our Brands | Mondelēz International, Inc

Our brands are as diverse and rich in heritage as the more than 150 countries in which we market our products.

www.mondelezinternational.com

 

[NoDopes]

Those on the Government payroll might disagree.

You missed two criteria for his statement... "Professional"... and "work". Neither apply to your comment.

 

[charbroiled]

Those on the Government payroll might disagree.

forgot they get COLA raises........ My sis-in-law suggested .gov employment to me a few times, couldn't do it

 

[Hobo Hilton]

forgot they get COLA raises........ My sis-in-law suggested .gov employment to me a few times, couldn't do it

After all........ The "Government" is the largest employer in America.

 

[charbroiled]

After all........ The "Government" is the largest employer in America.

Did I mention my SIL is a pretty smart lady??????? Me? Not so much...

 

[Hobo Hilton]

JMHO
The UK has a much more realistic view of inflation than the United States FED Reserve. It is being reflected in how they are planning for 2024. The FED Reserve is serving up "Smoke and Mirror's once again.
________________

Under the triple lock, State Pensions are expected to rise by 8.5% in April 2024 in line with earnings. This follows a 10.1% increase in line with Consumer Price Index (CPI) inflation the previous year.
This Insight explains what the triple lock is and summarises debates about its sustainability.

What is the triple lock?​

The government is legally required to increase the basic and new State Pension each year at least in line with average earnings.
The ‘triple lock’ is a commitment, beyond this legal requirement, to increase State Pensions by whichever is highest of average earnings growth, CPI inflation, or 2.5%.
The triple lock was first introduced by the Coalition Government and came into effect in the 2011/12 financial year. It has been applied every year since, except for a temporary suspension in 2022/23. Prior to this, pensions had been uprated at least in line with prices since 1980, and with earnings before this.

https://commonslibrary.parliament.uk/the-triple-lock-how-will-state-pensions-be-uprated-in-future/

 

[96coal449]

I agree. I’m going to try another brand after this batch runs out.

Ne mindful of the ingredients you and yours consume. It's part of the reason big pharma is the giant it is.
Be well my friend.

Now, back to our regular scheduled program.

 

[Hobo Hilton]

Ne mindful of the ingredients you and yours consume. It's part of the reason big pharma is the giant it is.
Be well my friend.

Now, back to our regular scheduled program.

When those settler's stocked their wagons prior to joining the "Wagon Train" they were some of the first to understand "all natural ingredients".
Few doctor's and no Big Pharma.

 

[Bigfatcock]

Ne mindful of the ingredients you and yours consume. It's part of the reason big pharma is the giant it is.
Be well my friend.

Now, back to our regular scheduled program.

Good advice. I’ve come a long way to my goal of watching ingredients and consuming much better quality foods, but unfortunately there is no Oreo tree or grass fed Oreo herd.

 

[96coal449]

Good advice. I’ve come a long way to my goal of watching ingredients and consuming much better quality foods, but unfortunately there is no Oreo tree or grass fed Oreo herd.

Wish I could like this post and laugh at the same time .....
Need more button options.

 

[Hobo Hilton]

Good advice. I’ve come a long way to my goal of watching ingredients and consuming much better quality foods, but unfortunately there is no Oreo tree or grass fed Oreo herd.

Every man has his demons

 

[Hobo Hilton]

This means that inflation has forced home buyers to earn 52% more income over a period of one year. Staggering.

Key Points

• The average 30-year fixed mortgage rate hit 8% for the first time since 2000.
• Homebuyers must earn $114,627 to afford a median-priced house in the U.S., according to a recent report by Redfin, a real estate firm.
• “Housing affordability is incredibly difficult for potential homebuyers,” said Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors.

Given high prices and high interest rates, homebuyers must earn $114,627 to afford a median-priced house in the U.S., according to a recent report by Redfin, a real estate firm, which analyzed median monthly mortgage payments in August 2023 and August 2022.
The firm considers a monthly mortgage payment to be affordable if the homebuyer spends no more than 30% of their income on housing. At the time of the analysis, the average 30-year fixed mortgage was 7.07%.
The median U.S. household income was $75,000 in 2022, Redfin found. While hourly wages in the U.S. grew 5% over the past year, according to the real estate firm, that has not outpaced rising housing costs.

As mortgage rates hit 8%, home 'affordability is incredibly difficult,' economist says

Mortgage rates hit 8% for the first time in decades. Homebuyers must earn $114,627 to afford a median-priced house in the U.S., found real estate firm Redfin.

www.cnbc.com

 

[Hobo Hilton]

Just got my Home Owner's Insurance bill for 2023. It increases 22.4% from last year.
My power bill increased 15% from last year
The Government pegs cost of living increase at 3.2%. Funny how that works out.
Circling the airport waiting for conditions to allow a soft landing. Fuel is running low.
____________________
The Social Security COLA for 2024 is 3.2%, significantly lower than the 8.7% COLA for 2023.

Social Security cost-of-living adjustment (COLA) increase for 2025

Stay informed about the Social Security COLA increase for 2025 and its impact on retirees.

www.usatoday.com

 

[LawTalker]

This means that inflation has forced home buyers to earn 52% more income over a period of one year. Staggering.

Key Points

• The average 30-year fixed mortgage rate hit 8% for the first time since 2000.
• Homebuyers must earn $114,627 to afford a median-priced house in the U.S., according to a recent report by Redfin, a real estate firm.
• “Housing affordability is incredibly difficult for potential homebuyers,” said Jessica Lautz, deputy chief economist and vice president of research at the National Association of Realtors.

Given high prices and high interest rates, homebuyers must earn $114,627 to afford a median-priced house in the U.S., according to a recent report by Redfin, a real estate firm, which analyzed median monthly mortgage payments in August 2023 and August 2022.
The firm considers a monthly mortgage payment to be affordable if the homebuyer spends no more than 30% of their income on housing. At the time of the analysis, the average 30-year fixed mortgage was 7.07%.
The median U.S. household income was $75,000 in 2022, Redfin found. While hourly wages in the U.S. grew 5% over the past year, according to the real estate firm, that has not outpaced rising housing costs.

As mortgage rates hit 8%, home 'affordability is incredibly difficult,' economist says

Mortgage rates hit 8% for the first time in decades. Homebuyers must earn $114,627 to afford a median-priced house in the U.S., found real estate firm Redfin.

www.cnbc.com

It won't be getting better barring a national uprising.

 

[Hobo Hilton]

It won't be getting better barring a national uprising.

I agree.... I'll side track this line of thoughts, just a bit.
Why has the price of gold remained stable ?
Why has the price of WTI remained stable ?

 

[LawTalker]

I agree.... I'll side track this line of thoughts, just a bit.
Why has the price of gold remained stable ?
Why has the price of WTI remained stable ?

Why has the price of gold remained stable? That is a very interesting question, and the stability of gold's price is quite an amazing phenomenon. I will have to ponder on that and research it. Although as recently as 5-6 years ago [2016], gold was hovering just about $1,100 per ounce. Gold has almost doubled in price over the last 6 years, although it is probably still undervalued. Silver is very undervalued and is still a great buy.

 

[Hobo Hilton]

Why has the price of gold remained stable? That is a very interesting question, and the stability of gold's price is quite an amazing phenomenon. I will have to ponder on that and research it. Although as recently as 5-6 years ago [2016], gold was hovering just about $1,100 per ounce. Gold has almost doubled in price over the last 6 years, although it is probably still undervalued. Silver is very undervalued and is still a great buy.

We are in agreement. There is a lot of, what I call, "Paper Gold" out there. Paper supposedly backed by bullion. At different times of unrest / chaos the "Paper Gold" seems to hold the price stable. When the paper backed by bullion goes away, then the price of bullion will be determined by the traders of bullion. But, the same can be said of the paper USD until the rest of the world calculates the value of the USD while looking at the National Debt. We will see a time when "paper" becomes worthless.

 

[LawTalker]

We are in agreement. There is a lot of, what I call, "Paper Gold" out there. Paper supposedly backed by bullion. At different times of unrest / chaos the "Paper Gold" seems to hold the price stable. When the paper backed by bullion goes away, then the price of bullion will be determined by the traders of bullion. But, the same can be said of the paper USD until the rest of the world calculates the value of the USD while looking at the National Debt. We will see a time when "paper" becomes worthless.

However it happens the USA will default on its debt, whether a soft de facto default via hyperinflation and paying the debt off with debased paper worth even less than the presently circulating paper, or an outright open/honest blatant default via just simply defaulting. The latter would be more honest, but we lack that level of honesty.

I believe the USA will try to print the debt away, tanking the currency in the process. This will pave the way for the global elite to offer a global digital currency, a Global Central Bank Digital Currency, with a promise of economic stabilization and salvation.