Home Forums Hunting & Shooting Hunter's Campfire A good economy?

"Inflation" calculated as a % from some past number may (or may not- see below) be dropping. The prices (doubled and trippled from several years ago) caused by past inflation haven't been reduced , or not by much. So now they are counting inflation "increases" based off the newer high prices, not what was 3 to 5 years back. As well as just throwing out several key segments in their calculations to make the pre-determined mark.

That's mathematical witchery. (3 kinds of lies....)

Wages have not increased to match inflation, and those on fixed income haven't seen any increase in that (well a bit in SS, which was well under inflation rate ). Their income purchasing power is greatly reduced.

I know, I are one. Not hurting, but the cushion of elective spending isn't what it used to be, and continues to shrink year by year.

The economy looks good because people are still spending money. On credit.

The biggest source is helocs. Most homeowners have experienced massive appreciation in home values, and now they are borrowing against that equity at 14%.


Good times.

"Come on man Las"
The #'s that this jetjockey spout cannot be disputed!

Our 'rose colored glasses' just aren't rosie enough it seems.

Where’s Jetboi

Sounds like you need to hire somebody. Funny thing is, my wife does all those same things, and works way harder than me. She also makes 1/4 what I do. Work smarter, not harder.

Unless you have deflation, which is pretty rare- you are correct the prices will never return - the current inflation rate is a snapshot. The only truly lengthy period of deflation was 1930-1933 and a much milder "deflation" happened in 2007-2008 but it was a blip compared to the Great Depression.

Unless someone is at least in the top 95% of income earners (maybe even top 97% to 98%) chances are their purchasing power has been pinched on just about everything but especially in big ticket items like homes / cars / etc.

You've no clue, seriously, no clue.

Yeah I've had several friends do just that and I'm face palming thinking "what are you doing". I refinanced mine at the bottom, 1.99% and could pay it off now but that would be leaving a lot of moolah on the table and I invested it in private equity / debt instead and it's returning 20% a year.

No the “average” American may not understand that, however they do understand price at the pump, prices in grocery stores, prices in heat and electric bills, price of clothing, price of interest against cars and mortgages, depleting valu price in 401k’s plus a whole lot more you vain Einstein.

Osky

I believe that he's the type Reagan was thinking of when he said something along the lines of "....it's just that so much that they know that isn't so"

And we are closing in on the Feds 2.0% inflation rate. Yes, things are more expensive, but that is all Covid related. Covid created a mess. Gas prices are coming back down, interest rates are coming back down, and as soon as the feds start relaxing interest rates, our economy will be 100% recovered. instead of late stages of recovery like we are seeing now. In all these threads, nobody is comparing about lack of jobs, the market going south, home prices plummeting, etc. The only thing people are complaining about is prices, which are now leveling back out. I expect with full unemployment, wages should jump this summer as well.

I’m at 2.9% and could do the exact thing. If one were to listen to Dave Ramsey, he’d say pay it off, but Ramsey is an idiot. Some people don’t understand it doesn’t make economic sense to pay off a 2.9% mortgage with money that makes 8% in the market. Plus, that 2.9% gets deducted on the first $750k.

K

This statement is contradictory, extremely[as far as wages/unemployment vs. inflation]

Covid was the kickstarter, J. Robinette's policies are the fuel.

JetJockey is right. That article was pretty economically illiterate or he's lying.

I liked it better when this pedo supporter wasnt polluting these pages with her useless lies

Every time I buy fuel or groceries I know the economy is totally screwed up. Thanks Joey.

I'm not sure I'd say he's an idiot, but his advice is certainly dated (stated mildly). A couple of decades ago it was generally passable advice for people who are not poor but modest income and have trouble living within their means. However, in the days of cards that pay 2% to 5% cash back, expensive housing, and with even "beater cars" being far more expensive than he seems to think are obtainable - he really out of touch. I would imagine just about any financial advisor would suggest keeping a mortgage under 5% and investing the cash elsewhere.

Save cattle, farm prices are lower.

And look at that. 353,000 jobs in Jan. Dec was revised up by over 100,000 jobs, and Nov revised up as well. For the record, I believe Trump averaged 178,000 jobs per month prior to Covid, which was down from Obama’s 215,000 average his last two years.