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Post by richm on Feb 5, 2024 7:45:43 GMT -5
What did that sub cost you a year ago? And I bet if you would pay attention you will notice it’s probably a little smaller now too. It’s not just about a sub. It’s about the economy and the financial security of this country. Why can’t you just admit that we are a country deep in debt? And a unsustainable debt? we've been deep in debt as a country for decades and decades. This came up during the recession when the debt climbed quickly and hit 100% of GDP and everyone said the U.S. would default and it would be the end of us. 5 to 7 years after that and nobody cared about the debt because the economy was doing great and interest rates were low. Go back to the late 80s and everyone said the debt would destroy us then too. It was claimed it was unsustainable then too due to the high interest rates. Fast forward to the 90s and nobody cared about the debt. Now everyone is upset over the debt again. Give it a few years and nobody will care again. It runs in cycles. Interest rates climb, inflation hits a little hard and everyone panics over the debt. The economy went through a short period of high inflation at the end of 2021 and 2022. It hit a high of 9.1 mid year 2022 and then started dropping and December 2023 was 3.4%. It will continue to decrease over 2024. Unemployment is at 3.7% and wages are increasing. Interest rates will drop in 2024. The economy is in pretty good condition right now. Hopefully that continues for the next couple of years. Does congress need to address deficit spending. sure they do. Do they need to fix Social Security, sure they do. Things are not perfect and there is work that needs to be done. But the end is not near and the U.S. will survive and endure. Cadman - I always appreciate your insights. This one just screams out. The whole political thing has split the country and folks have lost the ability to see what's in front of them. What seems to keep happening is the growth of the country. The economy is in a good spot right now. |
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Post by cadman on Feb 5, 2024 8:13:28 GMT -5
we've been deep in debt as a country for decades and decades. This came up during the recession when the debt climbed quickly and hit 100% of GDP and everyone said the U.S. would default and it would be the end of us. 5 to 7 years after that and nobody cared about the debt because the economy was doing great and interest rates were low. Go back to the late 80s and everyone said the debt would destroy us then too. It was claimed it was unsustainable then too due to the high interest rates. Fast forward to the 90s and nobody cared about the debt. Now everyone is upset over the debt again. Give it a few years and nobody will care again. It runs in cycles. Interest rates climb, inflation hits a little hard and everyone panics over the debt. The economy went through a short period of high inflation at the end of 2021 and 2022. It hit a high of 9.1 mid year 2022 and then started dropping and December 2023 was 3.4%. It will continue to decrease over 2024. Unemployment is at 3.7% and wages are increasing. Interest rates will drop in 2024. The economy is in pretty good condition right now. Hopefully that continues for the next couple of years. Does congress need to address deficit spending. sure they do. Do they need to fix Social Security, sure they do. Things are not perfect and there is work that needs to be done. But the end is not near and the U.S. will survive and endure. Not to mention the devaluation of your savings and investments? But since it’s been going on for a few decades it’s no big deal. Especially since you’re not a little kid or a young adult trying to get ahead. 👍 if what you say is true, please explain the period between 1992 to 2021 when government spending hit a new record every year except for 3 and inflation was relatively low during this period. We had record deficits during this period as well. So lots of money was being "printed". Government spending can influence inflation, but inflation is caused by supply and demand. The inflation of 2021 and 2022 was caused by a huge surge in demand of goods without the accompanying increase in supply of goods. The monetary policy of the central bank plus the government's stimulus money drove a huge increase in the money supply and the effects of Covid worldwide had decreased production of goods. Prices increased to balance supply to demand. The Feds monetary policy has more effect on inflation than government spending. You must be young and not lived through the period of the 70s and early 80s. This little bit of inflation of 2021 and 2022 was nothing compared to that time period. You could get 5.25% interest on passbook savings accounts back then and mortgage rates were 8% to 10%. Inflation was over 10% a year for several years and peaked at 13.5% in 1980. We all survived that. |
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Post by ferris1248 on Feb 5, 2024 9:21:10 GMT -5
I can remember AFVN (radio station in Vietnam) playing a commercial in 1970 that touted with direct deposit from our monthly pay, a bank in San Francisco was paying 11% on an ordinary passbook savings account.
The Cult of Victimhood is strong.
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Post by richm on Feb 5, 2024 16:54:04 GMT -5
You do know that government spending and printing money is the main cause of inflation? Not to mention the devaluation of your savings and investments? But since it’s been going on for a few decades it’s no big deal. Especially since you’re not a little kid or a young adult trying to get ahead. 👍 if what you say is true, please explain the period between 1992 to 2021 when government spending hit a new record every year except for 3 and inflation was relatively low during this period. We had record deficits during this period as well. So lots of money was being "printed". Government spending can influence inflation, but inflation is caused by supply and demand. The inflation of 2021 and 2022 was caused by a huge surge in demand of goods without the accompanying increase in supply of goods. The monetary policy of the central bank plus the government's stimulus money drove a huge increase in the money supply and the effects of Covid worldwide had decreased production of goods. Prices increased to balance supply to demand. The Feds monetary policy has more effect on inflation than government spending. You must be young and not lived through the period of the 70s and early 80s. This little bit of inflation of 2021 and 2022 was nothing compared to that time period. You could get 5.25% interest on passbook savings accounts back then and mortgage rates were 8% to 10%. Inflation was over 10% a year for several years and peaked at 13.5% in 1980. We all survived that. I lived thru that - was looking at the candy bars in grocery store - I used to ride bike down to corner store and get a candy bar for $0.27 cents. Most are now 10X that amount. We bought a house in 2000 and had a 8.25% interest rate. Always knew these low rates would cause problems for folks - and they did. Greedy real estate folks jacked up the prices to match whatever folks could afford monthly. Now the rates are back up and folks still think their McMansion is still worth $500k. Maybe at 4%, not at 8%. The pendulum needs to swing back a bit. |
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Post by cadman on Feb 5, 2024 18:20:42 GMT -5
if what you say is true, please explain the period between 1992 to 2021 when government spending hit a new record every year except for 3 and inflation was relatively low during this period. We had record deficits during this period as well. So lots of money was being "printed". Government spending can influence inflation, but inflation is caused by supply and demand. The inflation of 2021 and 2022 was caused by a huge surge in demand of goods without the accompanying increase in supply of goods. The monetary policy of the central bank plus the government's stimulus money drove a huge increase in the money supply and the effects of Covid worldwide had decreased production of goods. Prices increased to balance supply to demand. The Feds monetary policy has more effect on inflation than government spending. You must be young and not lived through the period of the 70s and early 80s. This little bit of inflation of 2021 and 2022 was nothing compared to that time period. You could get 5.25% interest on passbook savings accounts back then and mortgage rates were 8% to 10%. Inflation was over 10% a year for several years and peaked at 13.5% in 1980. We all survived that. I lived thru that - was looking at the candy bars in grocery store - I used to ride bike down to corner store and get a candy bar for $0.27 cents. Most are now 10X that amount. We bought a house in 2000 and had a 8.25% interest rate. Always knew these low rates would cause problems for folks - and they did. Greedy real estate folks jacked up the prices to match whatever folks could afford monthly. Now the rates are back up and folks still think their McMansion is still worth $500k. Maybe at 4%, not at 8%. The pendulum needs to swing back a bit. Candy bars were a nickel when I was a kid. |
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Post by johngalt on Feb 5, 2024 19:33:05 GMT -5
Wow! I stand corrected 👍
Happy days are here again!
I guess 35 trillion dollars is really nothing, not to mention at least a hundred trillion dollars in non-funded debt.
I’m old enough to remember when the only people who used the word trillion were astronomers!😂😂
And no one thinks a 24 year old is going out and buying a house?
Personally I wish interest rates would go up to at least 10 percent, in a sane world that’s where it would be.
This country is in sad shape and in a very dangerous position right now. I’m glad most of you are comfortable and wearing your rose glasses.
And I do agree with you, things ain’t bad enough yet. But it’s getting there. 😉
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Post by luapnor on Feb 6, 2024 12:31:32 GMT -5
The median price of a home in 1992 was $100,000 and in 2021 that price was over $325,000
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Post by PolarsStepdad on Feb 6, 2024 13:21:26 GMT -5
Who would pay anything for a crappy subway sandwich? Subway is only slightly above McDonald's in my book. If Publix put in a drive thru window they'd shut subways down everywhere.
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Post by cadman on Feb 6, 2024 13:27:23 GMT -5
The median price of a home in 1992 was $100,000 and in 2021 that price was over $325,000 In 1960 it was $11,900. My parents bought the current house I live it back in 1963 for $15,000. So in the 30 years before 1992 home prices increased 667% and in the 30 years after they increased 325%. Prices go up, always have always will. Here's another tidbit of knowledge for you, the average square footage increases every decade too. |
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Post by meateater on Feb 6, 2024 14:08:03 GMT -5
Who would pay anything for a crappy subway sandwich? Subway is only slightly above McDonald's in my book. If Publix put in a drive thru window they'd shut subways down everywhere. a buddy brought some jersey shore subs over few weeks ago, they were really good, dont know what they cost but 100x better then subway. |
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Post by PolarsStepdad on Feb 6, 2024 14:18:46 GMT -5
Who would pay anything for a crappy subway sandwich? Subway is only slightly above McDonald's in my book. If Publix put in a drive thru window they'd shut subways down everywhere. a buddy brought some jersey shore subs over few weeks ago, they were really good, dont know what they cost but 100x better then subway. Literally anything is better than subway. They barely put any meat or cheese on them. Jersey Mike's, Firehouse, Publix, dirty wop down the street. Anywhere. |
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Post by meateater on Feb 6, 2024 14:21:05 GMT -5
jersey mikes , thats it i said jersey shore. subway is the worst.
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Post by swampdog on Feb 6, 2024 14:22:39 GMT -5
I remember in the early 60s dad telling us that eventually we’d need a wheelbarrow full of money to buy the same amount of groceries that a twenty dollar bill would buy back then. So he was known to be pretty smart and maybe that’s why I’m not particularly surprised with the costs of things today, right or wrong.
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Post by PolarsStepdad on Feb 6, 2024 14:42:58 GMT -5
My dad said he was very fortunate to have come up and raise a family during some of the most prosperous times in this country. The 60s. When a man could work himself out of poverty. And work he did. Hell early on as a young man they offered him an extra $50 a month to jump out of perfectly good airplanes  He created a nice comfortable life for himself. Definitely not rich but comfortable. Kids today don't stand a chance unless their parents are loaded. Of course there's exceptions to the rule. I consider my daughter's and their husband's to be doing OK. But for every 1 or 2 like that there are thousands a drift with no oar and the winds are picking up. |
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Post by conchydong on Feb 6, 2024 15:26:14 GMT -5
a buddy brought some jersey shore subs over few weeks ago, they were really good, dont know what they cost but 100x better then subway. Literally anything is better than subway. They barely put any meat or cheese on them. Jersey Mike's, Firehouse, Publix, dirty wop down the street. Anywhere. I am very fortunate I have a little Italian meat market few blocks from my house in Pompano called Guidos, and they make the most awesome subs in the world. |
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Post by PolarsStepdad on Feb 6, 2024 15:48:30 GMT -5
Literally anything is better than subway. They barely put any meat or cheese on them. Jersey Mike's, Firehouse, Publix, dirty wop down the street. Anywhere. I am very fortunate I have a little Italian meat market few blocks from my house in Pompano called Guidos, and they make the most awesome subs in the world. Unfortunately there aren't many guides in South Alabama. Except the one I married. And she ain't making any damn samiches |
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Post by PolarsStepdad on Feb 6, 2024 15:48:57 GMT -5
I am very fortunate I have a little Italian meat market few blocks from my house in Pompano called Guidos, and they make the most awesome subs in the world. Unfortunately there aren't many Guidos in South Alabama. Except the one I married. And she ain't making any damn samiches. At least not for me anymore |
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Post by richm on Feb 6, 2024 16:00:05 GMT -5
Kids today don't stand a chance unless their parents are loaded. Of course there's exceptions to the rule. I consider my daughter's and their husband's to be doing OK. But for every 1 or 2 like that there are thousands a drift with no oar and the winds are picking up. I disagree - there are a lot of opportunities out there for ambitious folks. The American Dream is very alive. |
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Post by biminitwisted on Feb 9, 2024 17:32:20 GMT -5
Seems like the Presidency of the well meaning elderly man is going pretty well.
S&P 500 CLOSES ABOVE 5,000 FOR THE FIRST TIME EVER
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Post by walkerdog on Feb 11, 2024 8:23:04 GMT -5
Bout damn time the stock market did something other than go sideways under his presidency. The annualized growth rate in stock values under his watch has been pretty anemic.
Or is it unrelated…..?
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Post by Captj on Feb 11, 2024 9:19:50 GMT -5
Who or what do you think actually influences the stock market? Whatever your answer it's probably off base.
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Post by OhMy on Feb 11, 2024 10:18:39 GMT -5
Interest rates
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BIDENOMICS
Feb 11, 2024 14:23:20 GMT -5
via mobile
Post by luapnor on Feb 11, 2024 14:23:20 GMT -5
Yup.... And printed money. |
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BIDENOMICS
Feb 11, 2024 16:46:25 GMT -5
via mobile
Post by walkerdog on Feb 11, 2024 16:46:25 GMT -5
Who or what do you think actually influences the stock market? Whatever your answer it's probably off base. Government red tape stifles business investment and growth which means it also suppresses stock values in the affected sectors. Do you really think that’s not true? |
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Post by OhMy on Feb 11, 2024 16:47:02 GMT -5
Yup.... And printed money. Yes that too. Printing excess borrowed money causes inflation and inflation forces the fed to rise interest rates. Interest rates rising impact the stock market. |
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Post by bottom feeder on Feb 11, 2024 16:53:01 GMT -5
There ain't many stocks that are really doing well. The tech sector has some indices jacked up.
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BIDENOMICS
Feb 13, 2024 10:12:33 GMT -5
via mobile
Post by olmucky on Feb 13, 2024 10:12:33 GMT -5
Well im sure some dipshit will come along and say how good this is
The consumer price index (CPI) increased unexpectantly 0.3 % in January
The most in 8 mos
Bidenomics in play!
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Post by biminitwisted on Feb 13, 2024 10:51:22 GMT -5
Well im sure some dipshit will come along and say how good this is The consumer price index (CPI) increased unexpectantly 0.3 % in January The most in 8 mos Bidenomics in play! Still headed in the right direction Henny Penny. But don't let facts get in the way of your cherry picking. That marks a step back from December’s 3.4% rate and a dramatic cooling from the 6.4% increase seen in January 2023. |
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Post by cyclist on Feb 13, 2024 11:47:25 GMT -5
Well im sure some dipshit will come along and say how good this is The consumer price index (CPI) increased unexpectantly 0.3 % in January The most in 8 mos Bidenomics in play! After covid and the russian war induced inflation, the United States has been the ONLY COUNTRY whose economy is recovering. ONLY ONE! |
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Post by luapnor on Feb 13, 2024 12:42:54 GMT -5
Well im sure some dipshit will come along and say how good this is The consumer price index (CPI) increased unexpectantly 0.3 % in January The most in 8 mos Bidenomics in play! After covid and the russian war induced inflation, the United States has been the ONLY COUNTRY whose economy is recovering. ONLY ONE! Koolaid much? |
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