Inflation woes

[JBruns]

Well, I was around for Jimmy Earl's gas lines, remember it all too well. But I don't recall the inflation being this wide-spread, across so many consumer markets. Everything has pretty well skyrocketed, at least most things I tend to buy. Bacon is about $5 a package at the grocery store, gas is high as a cat's back, ammo and components are expensive and at times hard to even find and it's a good thing I quit smoking over 20 years ago- I dont see how anyone affords that habit anymore.

Oh yeah, inflation was very wide spread back then. I was just getting my first house back then, at 12% variable rate (and it went up every year). Everything was inflating quickly. I was fortunate I worked for one of the top 1-3 companies in the world, so raises pretty well kept pace. But it was a crazy time. Hopefully we are not headed there again.

[v35]

Well, I was around for Jimmy Earl's gas lines, remember it all too well.

That was primarily supply chain though, not inflation. 

[BarkingAnt]

I just can’t believe how much stuff costs now- I swear I never spent so much on gas and milk in my entire life!!

That's because you are young. If you were an adult during jimmy Carter's presidency and the first year or two of Reagan's you would really understand inflation and how much things can go up. This is only the beginning hang on to your hat

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My first house mortgage rate 12%. In 1979 trying to start a business with school loan debt. Wasn't easy just had to take it a day at a time.

For a long time thought Carter was worst US president ever. I've reassessed that thought in past years.

[v35]

For a long time thought Carter was worst US president ever. I've reassessed that thought in past years.

Carter: Worst president ever.
Obama: Hold my beer.
Biden: Trulnalimunumaprzrrer!

[Crawl]

Hahahaha,yes!

Also, LBJ and FDR would like a word.

And finally, Biden would love to understand any words.

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[the war wagon]

Why I've bought physical silver & gold the past few years.  Savings interest rates meant you were losing money!

[v35]

Savings interest rates meant you were losing money!

At present you are losing 1% every month or more, depending on whether you factor in food and energy (which the core CPI omits).

Then consider the fact you paying income tax on whatever interest you earn. So yes you're losing money; probably more than you think.

[crosstimbers]

Well, I was around for Jimmy Earl's gas lines, remember it all too well.

That was primarily supply chain though, not inflation. 

If you believe gas was actually in short supply. Perhaps it was in US markets I guess.

 

[crosstimbers]

Well, I was around for Jimmy Earl's gas lines, remember it all too well. But I don't recall the inflation being this wide-spread, across so many consumer markets. Everything has pretty well skyrocketed, at least most things I tend to buy. Bacon is about $5 a package at the grocery store, gas is high as a cat's back, ammo and components are expensive and at times hard to even find and it's a good thing I quit smoking over 20 years ago- I dont see how anyone affords that habit anymore.

Oh yeah, inflation was very wide spread back then. I was just getting my first house back then, at 12% variable rate (and it went up every year). Everything was inflating quickly. I was fortunate I worked for one of the top 1-3 companies in the world, so raises pretty well kept pace. But it was a crazy time. Hopefully we are not headed there again.

I still dont think inflation was as wide spread. Everything s beserk now.

Real estate- I bought my first house a couple years after the gas lines, everything went up in housing, but then crashed in the mid 80s. It took me over ten years to see prices return to the level I had bought at, fortunately that was about when I needed a bigger house so I sold. Today that same house is THREE TIMES what I sold it for in 1996. Thats a lot worse than the inflation from the time the house was built in 1979, and when I bought it.

[JBruns]

I still dont think inflation was as wide spread. Everything s beserk now.

Real estate- I bought my first house a couple years after the gas lines, everything went up in housing, but then crashed in the mid 80s. It took me over ten years to see prices return to the level I had bought at, fortunately that was about when I needed a bigger house so I sold. Today that same house is THREE TIMES what I sold it for in 1996. Thats a lot worse than the inflation from the time the house was built in 1979, and when I bought it.

You can't just take one segment though. I agree, housing in most areas (and vehicles and college education) have continued to (seemingly) inflate at a faster rate than many/most other things. I'm talking about groceries, gas, services, etc.

[v35]

You can't just take one segment though. I agree, housing in most areas (and vehicles and college education) have continued to (seemingly) inflate at a faster rate than many/most other things.

My undergraduate degree cost me about $15000 all in, including tuition housing meals etc. I was happy to have received a scholarship award of $2500. I borrowed another $5000, and worked for the rest.

The day after I graduated I got a job that paid $25000 a year. That wasn't anything extraordinary, some people got slightly higher paying jobs, some didn't.

My daughter's college is $57,000 a year and that's just for tuition. Add housing, meals etc the bill comes to $83,000 a year.

Payable in cash. All of it. Up front. For one year.

Is it any wonder young people today think they have no future. They're wrong of course, but it'll be a long time earning that investment back. I paid off my $5000 loan in two or three years.

[Double Tap]

I'm sitting here laughing my a$$ off thinking about a thread that has people saying I'm not buying ammo until the price is back to normal. This is the new normal with prices looking higher

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[simplemann]

You can't just take one segment though. I agree, housing in most areas (and vehicles and college education) have continued to (seemingly) inflate at a faster rate than many/most other things.

My undergraduate degree cost me about $15000 all in, including tuition housing meals etc. I was happy to have received a scholarship award of $2500. I borrowed another $5000, and worked for the rest.

The day after I graduated I got a job that paid $25000 a year. That wasn't anything extraordinary, some people got slightly higher paying jobs, some didn't.

My daughter's college is $57,000 a year and that's just for tuition. Add housing, meals etc the bill comes to $83,000 a year.
q

Yes I'v been saying/believing the newer generation is really getting the short end of the stick.. Question is whom to blame for this disaster??? BTW I'm an older guy.

Payable in cash. All of it. Up front. For one year.

Is it any wonder young people today think they have no future. They're wrong of course, but it'll be a long time earning that investment back. I paid off my $5000 loan in two or three years.

[BarkingAnt]

You can't just take one segment though. I agree, housing in most areas (and vehicles and college education) have continued to (seemingly) inflate at a faster rate than many/most other things.

My undergraduate degree cost me about $15000 all in, including tuition housing meals etc. I was happy to have received a scholarship award of $2500. I borrowed another $5000, and worked for the rest.

The day after I graduated I got a job that paid $25000 a year. That wasn't anything extraordinary, some people got slightly higher paying jobs, some didn't.

My daughter's college is $57,000 a year and that's just for tuition. Add housing, meals etc the bill comes to $83,000 a year.
q

Yes I'v been saying/believing the newer generation is really getting the short end of the stick.. Question is whom to blame for this disaster??? BTW I'm an older guy.

Payable in cash. All of it. Up front. For one year.

Is it any wonder young people today think they have no future. They're wrong of course, but it'll be a long time earning that investment back. I paid off my $5000 loan in two or three years.

Lordy i cant believe what education costs now. I finished Auburn University in 75. A years tuition there was $900. My senior year i saw an add in the chemistry building hiring Phds in chem to come on at instructor level position paying $14000 a year. I just wonder if a BS/BA degree is worth what one has to pay now.

Granted inflation has changed things in last 50 yrs but still wonder if its worth it. Mike Rowe has been advising young people to go to trade schools. May be good idea.

[Double Tap]

I live in Palm Beach County FL. I just came back from a Winn Dixie. A loaf of  pumpernickel bread that was 379 two weeks ago was 499 today

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