Inflation Crisis

[TroglocratsRdumb]

NewsMax Tuesday, September 26, 2023
By George Mentz

This week, I took my children to a fast food restaurant and spent $68 dollars without a tip on kids meals and drinks. That is almost a 100% increase in food costs in 3 years.

Below is an updated 2023 list of the primary costs for families. This data is shocking as it continues to show that Federal Reserve rate increases actually create inflation on working folks.

22 Key Inflation Indicators

1. Mortgage or Rent: Monthly payment for housing. The typical U.S. homebuyer's monthly payment is up nearly 62.5% since President Trump retired as “Commander in Chief.” The monthly payment on a $400,000 home was about $1,600 in 2019, and now it is more than $2,600 each month. That is an extra thousand dollars a month in costs.
2. Homeowners/Renters Insurance: This year, Florida homeowners have been hit with a 40% increase by insurance companies. Colorado has now been smacked by double digit increases. In states like Louisiana and Colorado, the cost is more than 3% of family budgets with deductibles typically high at 4%-5%.
3. Energy: Costs for electricity, water, gas, and other essential services: More than 20% increases in the last 24 months. Electricity and piped gas are up 21% and 26%, respectively in 2 years.
4. Property Taxes: A new 60% increase in property tax bills. Colorado homeowners prepare for 30%-60% increase in property tax bills. Homeowners across Colorado are bracing themselves for another hefty increase.
5. Soaring grocery bills. Because of energy costs, supply chain failures, taxes on fuel, and needless involvement in wars, the costs of many grocery items are still up over 30%-50% in the last 2 years. For example, eggs are up over 50%.
6. School Lunch was up 305% last year in 2022. This type of activity is another hidden tax on teachers, union workers and employed families.
7. Medical expenses, insurance premiums, and prescription costs: On top of these costs rising, insurers plan on a 6% increase next year also. Medicare and Medicaid costs are up dramatically in just the last few years. The LA Times recently slammed health care inflation costs in 2023, saying, “Health premiums may be about to soar.”
8. Auto Loans: Monthly payments for financed vehicles. The Washington Post blasted the economy and inflation saying, “Car payments are $1,000 for a lot of consumers.” … Each month.
9. Auto Insurance: Coverage for vehicles and drivers. CNBC says rates are going up a whopping 8% this year. CNBC said, “The total average premium for full coverage .. $1,780 per year.”
10. Fuel costs for vehicles: Nerd Wallet says this week that prices are going back up. While the price came down from over 5 dollars to about $3.20 in January, it is now back to about $4.00 dollars per gallon which is a bone crushing price on workers The inner cities such as LA, San Fran, and Washington have gas priced over $5 dollars per gallon again which injures minorities the most.
11. Child Care: Expenses for daycare, babysitting, or after-school care: For example, the annual cost of infant care in California is about $16,945 which is about $1,412 per month. Child care for a 4-year-old would be about $11,475 per year. High schools in New Orleans and New York are typically much more: $27,235 or more for grades 6th through 12th.
12. Homeowners School Taxes: The cost of education is up and homeowners will need to pay the price. Schools pay utilities, insurance, employees, insurance, and more. The burden is passed on to the renters and homeowners.
13. Rent Prices: Rent costs are bashing the middle class and the inflation on insurance coverage, wages, fuel, insurance, health care are all causing taxes to go up. USA today recently said, "Over the past two years, the U.S. median rent rose by 18%."
14. Tuition, school supplies, and fees for education: The private high school average cost is $15,977 per year.
15. Clothing: Expenses for clothing and footwear for family members is more costly due to wage costs, shipping costs, theft and store closures.
16. Entertainment: Costs for leisure activities, outings, and hobbies. Based on data from Morning Consult Economic Intelligence, during the period from February 2022 to February 2023, the category of recreation/entertainment experienced a significant decrease in spending compared to the previous year. This reduction in spending can be attributed to consumers dealing with increased prices for various goods and services, which led them to make choices and trade-offs in their expenditures.
17. Debt Payments: Payments towards credit cards, student loans, or other debts. Many debt payments have doubled in the last year. Rising interest rates have ensnared households in a relentless cycle of debt, potentially extending financial burdens for years to come. The current economic scenario has the potential to leave some households grappling with indebtedness over an extended period.
18. Credit Card Loans: Average interest rates on credit card loans is up almost 50%. Lending Tree shows a chart where rates and loan charges are up over 70% percent in the last 3 years. If the APR was 14% in 2020 and it is now 24%, the change is 71%. People with low credit scores pay more in monthly fees as credit card companies are taking a gamble on high risk borrowers. Some credit cards are charging a monstrous 36% APR which is something you see with hyperinflation nations such as Nigeria.
19. Retirement Savings Hit Hard: Funds set aside for retirement have been crushed. The average retiree lost 23% of their savings last year due to a fledgling stock market and bond losses.
20. Travel: Expenses for family vacations or trips. Since COVID, travel costs are up a whopping 30%. Nerd Wallet shows: Car rental up 37% and food away from home up 24.6 % since COVID.
21. Home Maintenance: Repairs, renovations, and upkeep of the house. The average yearly maintenance cost is about $6,409. This is about a nine percent increase year over year according to a Penn State data.
22. Emergency Fund: A fund reserved for unexpected expenses or emergencies. Half of Americans have no savings or zero funds for an emergency.
    
    The gravity of the situation demands immediate attention from policymakers, economists, and financial institutions alike while the President must sit down with mindful leaders such as Scalise and McCarthy to learn about innovative ideas to help working families. Collaborative efforts are necessary to mitigate the multifaceted impact of high inflation, offering relief to those who are most vulnerable Strategies to manage interest rates, control inflation, and provide targeted financial assistance can collectively work towards restoring stability to the lives of the working class Americans.

https://www.newsmax.com/finance/georgementz/inflation-food-housing/2023/09/26/id/1135866/

Comment:
Grocery prices are outrageous.
Mortgage rates are outrageous.
Gasoline prices are outrageous.
Biden, Pelosi and Schumer caused this Inflation Crisis with their trillion dollar "Inflation Reduction Act"
They LIED.
Their "Inflation Reduction Act" was another greed corrupt Democrat looting spree.
The Democrats don't care.
They treat the Taxpayers like they are their tax slaves who they can load an infinite amount of debt upon.

 

[Mac1958]

Yes, this has been shitty, and it's probably not over. And definitely worse for some than others.

It was inevitable.

 

[Harpy Eagle]

This week, I took my children to a fast food restaurant and spent $68 dollars without a tip on kids meals and drinks. That is almost a 100% increase in food costs in 3 years.

How many kids does this person have? you can buy 15 happy meals for that much.

 

[1srelluc]

Yes, this has been shitty, and it's probably not over. And definitely worse for some than others.

It was inevitable.

The fed should have not stood pat this last go-round with the rebounding inflation....They are blinded by "mah core inflation".

 

[Harpy Eagle]

Yes, this has been shitty, and it's probably not over. And definitely worse for some than others.

It was inevitable.

While it has been bad, the list is bullshit.

Insurance went up in Florida and Colorado due to natural disasters

To get a 1,000 a month car payment the car would cost 55,000 with nothing down.

Who gives a fuck what a private high school cost?

 

[Votto]

NewsMax Tuesday, September 26, 2023
By George Mentz

This week, I took my children to a fast food restaurant and spent $68 dollars without a tip on kids meals and drinks. That is almost a 100% increase in food costs in 3 years.

Below is an updated 2023 list of the primary costs for families. This data is shocking as it continues to show that Federal Reserve rate increases actually create inflation on working folks.

22 Key Inflation Indicators

1. Mortgage or Rent: Monthly payment for housing. The typical U.S. homebuyer's monthly payment is up nearly 62.5% since President Trump retired as “Commander in Chief.” The monthly payment on a $400,000 home was about $1,600 in 2019, and now it is more than $2,600 each month. That is an extra thousand dollars a month in costs.
2. Homeowners/Renters Insurance: This year, Florida homeowners have been hit with a 40% increase by insurance companies. Colorado has now been smacked by double digit increases. In states like Louisiana and Colorado, the cost is more than 3% of family budgets with deductibles typically high at 4%-5%.
3. Energy: Costs for electricity, water, gas, and other essential services: More than 20% increases in the last 24 months. Electricity and piped gas are up 21% and 26%, respectively in 2 years.
4. Property Taxes: A new 60% increase in property tax bills. Colorado homeowners prepare for 30%-60% increase in property tax bills. Homeowners across Colorado are bracing themselves for another hefty increase.
5. Soaring grocery bills. Because of energy costs, supply chain failures, taxes on fuel, and needless involvement in wars, the costs of many grocery items are still up over 30%-50% in the last 2 years. For example, eggs are up over 50%.
6. School Lunch was up 305% last year in 2022. This type of activity is another hidden tax on teachers, union workers and employed families.
7. Medical expenses, insurance premiums, and prescription costs: On top of these costs rising, insurers plan on a 6% increase next year also. Medicare and Medicaid costs are up dramatically in just the last few years. The LA Times recently slammed health care inflation costs in 2023, saying, “Health premiums may be about to soar.”
8. Auto Loans: Monthly payments for financed vehicles. The Washington Post blasted the economy and inflation saying, “Car payments are $1,000 for a lot of consumers.” … Each month.
9. Auto Insurance: Coverage for vehicles and drivers. CNBC says rates are going up a whopping 8% this year. CNBC said, “The total average premium for full coverage .. $1,780 per year.”
10. Fuel costs for vehicles: Nerd Wallet says this week that prices are going back up. While the price came down from over 5 dollars to about $3.20 in January, it is now back to about $4.00 dollars per gallon which is a bone crushing price on workers The inner cities such as LA, San Fran, and Washington have gas priced over $5 dollars per gallon again which injures minorities the most.
11. Child Care: Expenses for daycare, babysitting, or after-school care: For example, the annual cost of infant care in California is about $16,945 which is about $1,412 per month. Child care for a 4-year-old would be about $11,475 per year. High schools in New Orleans and New York are typically much more: $27,235 or more for grades 6th through 12th.
12. Homeowners School Taxes: The cost of education is up and homeowners will need to pay the price. Schools pay utilities, insurance, employees, insurance, and more. The burden is passed on to the renters and homeowners.
13. Rent Prices: Rent costs are bashing the middle class and the inflation on insurance coverage, wages, fuel, insurance, health care are all causing taxes to go up. USA today recently said, "Over the past two years, the U.S. median rent rose by 18%."
14. Tuition, school supplies, and fees for education: The private high school average cost is $15,977 per year.
15. Clothing: Expenses for clothing and footwear for family members is more costly due to wage costs, shipping costs, theft and store closures.
16. Entertainment: Costs for leisure activities, outings, and hobbies. Based on data from Morning Consult Economic Intelligence, during the period from February 2022 to February 2023, the category of recreation/entertainment experienced a significant decrease in spending compared to the previous year. This reduction in spending can be attributed to consumers dealing with increased prices for various goods and services, which led them to make choices and trade-offs in their expenditures.
17. Debt Payments: Payments towards credit cards, student loans, or other debts. Many debt payments have doubled in the last year. Rising interest rates have ensnared households in a relentless cycle of debt, potentially extending financial burdens for years to come. The current economic scenario has the potential to leave some households grappling with indebtedness over an extended period.
18. Credit Card Loans: Average interest rates on credit card loans is up almost 50%. Lending Tree shows a chart where rates and loan charges are up over 70% percent in the last 3 years. If the APR was 14% in 2020 and it is now 24%, the change is 71%. People with low credit scores pay more in monthly fees as credit card companies are taking a gamble on high risk borrowers. Some credit cards are charging a monstrous 36% APR which is something you see with hyperinflation nations such as Nigeria.
19. Retirement Savings Hit Hard: Funds set aside for retirement have been crushed. The average retiree lost 23% of their savings last year due to a fledgling stock market and bond losses.
20. Travel: Expenses for family vacations or trips. Since COVID, travel costs are up a whopping 30%. Nerd Wallet shows: Car rental up 37% and food away from home up 24.6 % since COVID.
21. Home Maintenance: Repairs, renovations, and upkeep of the house. The average yearly maintenance cost is about $6,409. This is about a nine percent increase year over year according to a Penn State data.
22. Emergency Fund: A fund reserved for unexpected expenses or emergencies. Half of Americans have no savings or zero funds for an emergency.
    
    The gravity of the situation demands immediate attention from policymakers, economists, and financial institutions alike while the President must sit down with mindful leaders such as Scalise and McCarthy to learn about innovative ideas to help working families. Collaborative efforts are necessary to mitigate the multifaceted impact of high inflation, offering relief to those who are most vulnerable Strategies to manage interest rates, control inflation, and provide targeted financial assistance can collectively work towards restoring stability to the lives of the working class Americans.

https://www.newsmax.com/finance/georgementz/inflation-food-housing/2023/09/26/id/1135866/

Comment:
Grocery prices are outrageous.
Mortgage rates are outrageous.
Gasoline prices are outrageous.
Biden, Pelosi and Schumer caused this Inflation Crisis with their trillion dollar "Inflation Reduction Act"
They LIED.
Their "Inflation Reduction Act" was another greed corrupt Democrat looting spree.
The Democrats don't care.
They treat the Taxpayers like they are their tax slaves who they can load an infinite amount of debt upon.

This is why you need to sell your home and move into government housing and let them take care of you.

That is the end game.

 

[1srelluc]

Who gives a fuck what a private high school cost?

You damn sure care if you are making the sacrifices necessary to make sure your kid never sees the inside of a public school.....Not all parents that go that route are rich you know.

 

[Moonglow]

My mortgage is the same rate it was a decade ago, no increase, same with electricity, my water is from a well and I drove cheap and fix up.

 

[Moonglow]

You damn sure care if you are making the sacrifices necessary to make sure your kid never sees the inside of a public school.....Not all parents that go that route are rich you know.

But it is their choice.

 

[toobfreak]

It was inevitable.

Gee, there are three words you never heard when it came to Trump and anything involving 2020, Covid, shutdowns, BLM, George Floyd riots, or election fraud!

But with Joe Biden, it was just inevitable. Much like Barry Obumma.

 

[Mac1958]

While it has been bad, the list is bullshit.

Insurance went up in Florida and Colorado due to natural disasters

To get a 1,000 a month car payment the car would cost 55,000 with nothing down.

Who gives a fuck what a private high school cost?

Standard partisan opinionating, paint the worst possible picture and blame the other tribe.

This was a true group effort, building for years, about $12 trillion in stimulus total, and the supply chain collapses set it off.

But they've gotta put it all on Biden. Okay. Whatever.

 

[CrusaderFrank]

Yes, this has been shitty, and it's probably not over. And definitely worse for some than others.

It was inevitable.

Inevitable…once they threw the printing press into high gear

 

[Harpy Eagle]

once they threw the printing press into high gear

back in 2018?

 

[Votto]

Standard partisan opinionating, paint the worst possible picture and blame the other tribe.

This was a true group effort, building for years, about $12 trillion in stimulus total, and the supply chain collapses set it off.

But they've gotta put it all on Biden. Okay. Whatever.

Inflation caused by:

1. Massive spending
2. Covid shutdowns
3. War on fossil fuels

Yea, Biden did not do all of it, but he participated in it and supports it 100% and continues policies geared toward these goals.

 

[Lisa558]

NewsMax Tuesday, September 26, 2023
By George Mentz

This week, I took my children to a fast food restaurant and spent $68 dollars without a tip on kids meals and drinks. That is almost a 100% increase in food costs in 3 years.

Below is an updated 2023 list of the primary costs for families. This data is shocking as it continues to show that Federal Reserve rate increases actually create inflation on working folks.

22 Key Inflation Indicators

1. Mortgage or Rent: Monthly payment for housing. The typical U.S. homebuyer's monthly payment is up nearly 62.5% since President Trump retired as “Commander in Chief.” The monthly payment on a $400,000 home was about $1,600 in 2019, and now it is more than $2,600 each month. That is an extra thousand dollars a month in costs.
2. Homeowners/Renters Insurance: This year, Florida homeowners have been hit with a 40% increase by insurance companies. Colorado has now been smacked by double digit increases. In states like Louisiana and Colorado, the cost is more than 3% of family budgets with deductibles typically high at 4%-5%.
3. Energy: Costs for electricity, water, gas, and other essential services: More than 20% increases in the last 24 months. Electricity and piped gas are up 21% and 26%, respectively in 2 years.
4. Property Taxes: A new 60% increase in property tax bills. Colorado homeowners prepare for 30%-60% increase in property tax bills. Homeowners across Colorado are bracing themselves for another hefty increase.
5. Soaring grocery bills. Because of energy costs, supply chain failures, taxes on fuel, and needless involvement in wars, the costs of many grocery items are still up over 30%-50% in the last 2 years. For example, eggs are up over 50%.
6. School Lunch was up 305% last year in 2022. This type of activity is another hidden tax on teachers, union workers and employed families.
7. Medical expenses, insurance premiums, and prescription costs: On top of these costs rising, insurers plan on a 6% increase next year also. Medicare and Medicaid costs are up dramatically in just the last few years. The LA Times recently slammed health care inflation costs in 2023, saying, “Health premiums may be about to soar.”
8. Auto Loans: Monthly payments for financed vehicles. The Washington Post blasted the economy and inflation saying, “Car payments are $1,000 for a lot of consumers.” … Each month.
9. Auto Insurance: Coverage for vehicles and drivers. CNBC says rates are going up a whopping 8% this year. CNBC said, “The total average premium for full coverage .. $1,780 per year.”
10. Fuel costs for vehicles: Nerd Wallet says this week that prices are going back up. While the price came down from over 5 dollars to about $3.20 in January, it is now back to about $4.00 dollars per gallon which is a bone crushing price on workers The inner cities such as LA, San Fran, and Washington have gas priced over $5 dollars per gallon again which injures minorities the most.
11. Child Care: Expenses for daycare, babysitting, or after-school care: For example, the annual cost of infant care in California is about $16,945 which is about $1,412 per month. Child care for a 4-year-old would be about $11,475 per year. High schools in New Orleans and New York are typically much more: $27,235 or more for grades 6th through 12th.
12. Homeowners School Taxes: The cost of education is up and homeowners will need to pay the price. Schools pay utilities, insurance, employees, insurance, and more. The burden is passed on to the renters and homeowners.
13. Rent Prices: Rent costs are bashing the middle class and the inflation on insurance coverage, wages, fuel, insurance, health care are all causing taxes to go up. USA today recently said, "Over the past two years, the U.S. median rent rose by 18%."
14. Tuition, school supplies, and fees for education: The private high school average cost is $15,977 per year.
15. Clothing: Expenses for clothing and footwear for family members is more costly due to wage costs, shipping costs, theft and store closures.
16. Entertainment: Costs for leisure activities, outings, and hobbies. Based on data from Morning Consult Economic Intelligence, during the period from February 2022 to February 2023, the category of recreation/entertainment experienced a significant decrease in spending compared to the previous year. This reduction in spending can be attributed to consumers dealing with increased prices for various goods and services, which led them to make choices and trade-offs in their expenditures.
17. Debt Payments: Payments towards credit cards, student loans, or other debts. Many debt payments have doubled in the last year. Rising interest rates have ensnared households in a relentless cycle of debt, potentially extending financial burdens for years to come. The current economic scenario has the potential to leave some households grappling with indebtedness over an extended period.
18. Credit Card Loans: Average interest rates on credit card loans is up almost 50%. Lending Tree shows a chart where rates and loan charges are up over 70% percent in the last 3 years. If the APR was 14% in 2020 and it is now 24%, the change is 71%. People with low credit scores pay more in monthly fees as credit card companies are taking a gamble on high risk borrowers. Some credit cards are charging a monstrous 36% APR which is something you see with hyperinflation nations such as Nigeria.
19. Retirement Savings Hit Hard: Funds set aside for retirement have been crushed. The average retiree lost 23% of their savings last year due to a fledgling stock market and bond losses.
20. Travel: Expenses for family vacations or trips. Since COVID, travel costs are up a whopping 30%. Nerd Wallet shows: Car rental up 37% and food away from home up 24.6 % since COVID.
21. Home Maintenance: Repairs, renovations, and upkeep of the house. The average yearly maintenance cost is about $6,409. This is about a nine percent increase year over year according to a Penn State data.
22. Emergency Fund: A fund reserved for unexpected expenses or emergencies. Half of Americans have no savings or zero funds for an emergency.
    
    The gravity of the situation demands immediate attention from policymakers, economists, and financial institutions alike while the President must sit down with mindful leaders such as Scalise and McCarthy to learn about innovative ideas to help working families. Collaborative efforts are necessary to mitigate the multifaceted impact of high inflation, offering relief to those who are most vulnerable Strategies to manage interest rates, control inflation, and provide targeted financial assistance can collectively work towards restoring stability to the lives of the working class Americans.

https://www.newsmax.com/finance/georgementz/inflation-food-housing/2023/09/26/id/1135866/

Comment:
Grocery prices are outrageous.
Mortgage rates are outrageous.
Gasoline prices are outrageous.
Biden, Pelosi and Schumer caused this Inflation Crisis with their trillion dollar "Inflation Reduction Act"
They LIED.
Their "Inflation Reduction Act" was another greed corrupt Democrat looting spree.
The Democrats don't care.
They treat the Taxpayers like they are their tax slaves who they can load an infinite amount of debt upon.

The whole situation is outrageous. The only people I know who are spending money without a worry are the government workers with their $1 million houses, as well as the government retirees.

Everyone else is talking about the unbelievable costs, especially the food prices. Others are cancelling planned trips. And I know one young person who could no longer afford rent and moved back in with her parents at age 30.

It’s bad.

 

[Votto]

The whole situation is outrageous. The only people I know who are spending money without a worry are the government workers with their $1 million houses, as well as the government retirees.

Everyone else is talking about the unbelievable costs, especially the food prices. Others are cancelling planned trips. And I know one young person who could no longer afford rent and moved back in with her parents at age 30.

It’s bad.

This is how despotic regimes work like the one in North Korea.

You drown everyone in poverty but keep a circle of dedicated citizens around you that are better off economically than the rest of the country. That builds loyalty and dedication to their leader as they realize they have it better than most.

That is why in Washington DC, real estate is outrageous. That is where all the money in the country goes and never returns.

 

[Lisa558]

This is how despotic regimes work like the one in North Korea.

You drown everyone in poverty but keep a circle of dedicated citizens around you that are better off economically than the rest of the country. That builds loyalty and dedication to their leader as they realize they have it better than most.

That is why in Washington DC, real estate is outrageous. That is where all the money in the country goes and never returns.

That’s exactly it. I know a couple - each is a GS15 - who just bought a $1 million in cash. Earlier in the year, while everyone else was gobsmacked by the price of eggs, they went on an expensive cruise to the Galapagos. And THEN they have the nerve to say that the economy is good and that people are exaggerating how groceries are so high.

So not only are the government workers protected from the policies they vote for, they are out-of-touch with how harmful they are. And thus, they continue to vote for them.

(Yes, I live right outside DC. Everyone and his brother is a government worker, from home of course.)

 

[Votto]

That’s exactly it. I know a couple - each is a GS15 - who just bought a $1 million in cash. Earlier in the year, while everyone else was gobsmacked by the price of eggs, they went on an expensive cruise to the Galapagos. And THEN they have the nerve to say that the economy is good and that people are exaggerating how groceries are so high.

So not only are the government workers protected from the policies they vote for, they are out-of-touch with how harmful they are. And thus, they continue to vote for them.

(Yes, I live right outside DC. Everyone and his brother is a government worker, from home of course.)

Tyrants know that they need a few people around them, so it behooves them to keep them happy, otherwise, they may die unexpectedly.

Wink, wink.

 

[Lisa558]

Gee, there are three words you never heard when it came to Trump and anything involving 2020, Covid, shutdowns, BLM, George Floyd riots, or election fraud!

But with Joe Biden, it was just inevitable. Much like Barry Obumma.


View attachment 834450

I sure miss him. (Krauthammer, not Obama.)

 

[TroglocratsRdumb]

The whole situation is outrageous. The only people I know who are spending money without a worry are the government workers with their $1 million houses, as well as the government retirees.

Everyone else is talking about the unbelievable costs, especially the food prices. Others are cancelling planned trips. And I know one young person who could no longer afford rent and moved back in with her parents at age 30.

It’s bad.

a lot of people are living off of their credit cards