Breaking News: New CPI inflation report lowest since 2021

[Foxfyre]

Put some numbers to it.

Grocery Bill in May 2020 was ...........
Grocery Bill in June 2020 was ...........
Grocery Bill in July 2020 was ...........

Grocery Bill in August 2024 was ...........

Thank you no. That is my business and I won't take the time to look it up just because you are ignorant. All financials older than three years are now stored on external hard drives and not immediately accessible.

And you would pretend I'm lying anyway. And the administration says grocery prices are up roughly 22 to 25% since 2019/20. Well 75 cents paid for that lettuce in 2019/20 vs the $1.99 I paid a week ago today for lettuce is a hell of a lot more than 25%. 85 cent for that larger loaf of bread I paid in 2019/20 vs. the $1.99 I paid for a smaller loaf a week ago today is a hell of a lot more than 25%. Certainly some things have not increased as much but when you look at the basics--flour, bread, produce, protein, etc. the prices are significantly higher than 25%.

 

[Fort Fun Indiana]

Of course, with miniscule return on investment there is little incentive to save combine this with the non stop dollar devaluation and there is no value in savings.

Savings rates have not decreased over the last 5 years. They have increased.

Yet savings are going down.

People are changing their savings patterns to suit their spending patterns. And consumer spending remains strong.

 

[ding]

Do you have any other income sources, pension or such?

Currently consulting at a very attractive rate. That will end before the end of the year. I have one rental property that brings in 12k a year with 4 k of taxes/insurance. I took a lump sum payout of my pension.

 

[ding]

Savings rates have not decreased over the last 5 years. They have increased.

Yet savings are going down.

People are changing their savings patterns to suit their spending patterns. And consumer spending remains strong.

It's all about the velocity of money. It's a fraudulent system. It's not going to end well.

 

[Harpy Eagle]

Currently consulting at a very attractive rate. That will end before the end of the year. I have one rental property that brings in 12k a year with 4 k of taxes/insurance. I took a lump sum payout of my pension.

We will have 3 pensions between us when we retire, two of which have no lump sum option as they are through the Govt. Between them and our SS we could go a while without touching our investments.

 

[AntonToo]

Thank you no.

Thats right, all you have are your bias feelings about your experience to go on, not well organized and quantified analisys that could be taken seriously.

Anyone that is reading your opinions should be saying - Thank you, no. Official macroeconomic data by proffesional economists is far more credible.

 

[ding]

Dummy, state of national economy is not about you or me on individual level.

Just because I'm personally doing well, does not mean the country overall is and vice versa.

I was an oil and gas engineer for 38 years. It's a very well paying industry. I'm currently contracting at $200 per hour. My net worth is top 2%. I've prepared as well as I can for the coming devaluation of the dollar (property and oil stocks). The country is not doing well. It's a house of cards. Depending upon how old you are, you will most likely witness a major upheaval in your lifetime. If you have debt, you aren't prepared for what is coming.

 

[Fort Fun Indiana]

It's all about the velocity of money. It's a fraudulent system. It's not going to end well.

Yeah, basically. And wages have just not paced prices for decades. And our embarrassing wealth and income gaps both make everything worse. Especially inflation.

 

[AntonToo]

Revised numbers pending. Should be available by late November.

When have we ever had significant revisions to CPI?

 

[HikerGuy83]

Indeed it is, all we can do now is move forward and let wages catch up as they do after every bout of inflation.

While the buying power of our savings sinks.

Trump should have wallpapered her with this.

 

[ding]

We will have 3 pensions between us when we retire, two of which have no lump sum option as they are through the Govt. Between them and our SS we could go a while without touching our investments.

Government pensions are good. I wouldn't worry about not having a lump sum option. I got really lucky with my timing as T-bills were at rock bottom and the lump sum doubled. Really saved my bacon.

The key to having equities in retirement is to not have to sell them when the market shits itself. So whether that is through having cash reserves or a good monthly income it's all the same. The last thing you want in retirement is to depend on equities and the market collapsing.

 

[Harpy Eagle]

While the buying power of our savings sinks.

Trump should have wallpapered her with this.

He can't because his reckless spending in 2020 contributed a fair amount to the inflation that followed it

 

[HikerGuy83]

He can't because his reckless spending in 2020 contributed a fair amount to the inflation that followed it

I'm game.

What "reckless" spending ?

 

[ding]

No THEY don't have to, at least no more than anyone else who pays taxes and lives in this country.

Your conspiracies are baseless bs and unless you have some serious evidence of improper official inflation number manipulations no one ought to be taking it seriously.

It's not a conspiracy or a theory. It's reality. From your own experiences you should know that you can't spend beyond your means without there being a reckoning; consequences. The same thing applies to the federal government. If you want to ignore that reality, that's your mistake to make.

 

[AntonToo]

While the buying power of our savings sinks.

Trump should have wallpapered her with this.

What savings?

Real estate that apreciated? Stocks that apreciated? Bank savings accounts that got increased interest rates? Gov payments that are indexed to inflation?

You are posting as if people keep their savings under their pillow.

 

[Harpy Eagle]

Government pensions are good. I wouldn't worry about not having a lump sum option. I got really lucky with my timing as T-bills were at rock bottom and the lump sum doubled. Really saved my bacon.

There is always a certain amount of luck involved. A friend of mine has been with ATT forever and will get a pension, they tried to take away the lump sum option but had too much push back. He does not trust ATT to not lower his pension after he retires so he is going lump sum. That is a nice thing we do not have to worry about with the Govt pensions, plus they get COLA increases.

The key to having equities in retirement is to not have to sell them when the market shits itself. So whether that is through having cash reserves or a good monthly income it's all the same. The last thing you want in retirement is to depend on equities and the market collapsing.

Pretty much every book I have read and every podcast I have listened to say this same thing.

 

[Harpy Eagle]

I'm game.

What "reckless" spending ?

Were you in coma in 2020?

You did not see all the spending the Govt was doing? Those nice checks they kept sending out to people, the one we got even was followed by a lovely letter from Trump himself telling us the money was due to him.


Do you really, honestly, think all that spending in 2020 did not have any impact on the inflation that followed it? Really?

 

[HikerGuy83]

I'm game.

What "reckless" spending ?

Seriously....I've seen the deficit numbers (and I called him on them).

Are you referencing his covid devicit ?

Just asking.

His actual deficits are smaller than bidens (according to government sources). With the one exception of his last year.

 

[AntonToo]

It's not a conspiracy or a theory. It's reality.

Wel then post serious evidence, not your half-baked theories.

 

[Foxfyre]

Thats right, all you have are your bias feelings about your experience to go on, not well organized and quantified analisys that could be taken seriously.

Anyone that is reading your opinions should be saying - Thank you, no. Official macroeconomic data by proffesional economists is far more credible.

Nobody but me buys my groceries or pays my bills. And no economist of any sort can tell me that what I know I am paying can't be true because their data says otherwise. Most especially when they are deep state operatives trying to make a terrible administration look better than it is.