B-Man Posted May 24, 2022 Share Posted May 24, 2022 1 Link to comment Share on other sites More sharing options...
Doc Posted May 25, 2022 Share Posted May 25, 2022 Still all Trump's and Putin's fault. 1 Link to comment Share on other sites More sharing options...
Gene Frenkle Posted May 25, 2022 Share Posted May 25, 2022 (edited) Well, the Fed is responsible for controlling inflation, and they've been busy printing money instead of raising interest rates and trying to curb runaway inflation. Gotta keep that bull market running! This is a problem years and years in the making, preceding Biden, Trump, and maybe even Obama. In the end, this is Wall Street's mess, no matter what you're fed. Interestingly, Jerome Powell, the current chair of the Fed, was appointed to that position (along with his printing press) by Prez Donald Trump in 2018, prior to Sleepy Joe's drama-filled election win. I'm not saying Biden has done a good job with this, more like this was inevitable. Gonna get a lot worse too. Edited May 25, 2022 by Gene Frenkle Link to comment Share on other sites More sharing options...
B-Man Posted June 1, 2022 Share Posted June 1, 2022 2 Link to comment Share on other sites More sharing options...
B-Man Posted June 1, 2022 Share Posted June 1, 2022 BIDEN DID THAT: 25% of Americans are delaying retirement due to inflation, survey finds. “Many people in or near retirement may not have considered this surge in prices in their financial plans, which has thrown off budgets and timelines as well.” https://www.cnbc.com/2022/05/31/25percent-of-americans-are-delaying-retirement-due-to-inflation.html Link to comment Share on other sites More sharing options...
Over 29 years of fanhood Posted June 2, 2022 Share Posted June 2, 2022 6 hours ago, B-Man said: BIDEN DID THAT: 25% of Americans are delaying retirement due to inflation, survey finds. “Many people in or near retirement may not have considered this surge in prices in their financial plans, which has thrown off budgets and timelines as well.” https://www.cnbc.com/2022/05/31/25percent-of-americans-are-delaying-retirement-due-to-inflation.html Figured this was coming next. Those already retired on fixed incomes are getting killed by bidenomics. And of course most those invested in equities for retirement just took a massive hit that will delay retirement plus the inflation hit which will compound the delay. Link to comment Share on other sites More sharing options...
Tenhigh Posted June 2, 2022 Share Posted June 2, 2022 On 5/25/2022 at 3:50 AM, Gene Frenkle said: Well, the Fed is responsible for controlling inflation, and they've been busy printing money instead of raising interest rates and trying to curb runaway inflation. Gotta keep that bull market running! This is a problem years and years in the making, preceding Biden, Trump, and maybe even Obama. In the end, this is Wall Street's mess, no matter what you're fed. Interestingly, Jerome Powell, the current chair of the Fed, was appointed to that position (along with his printing press) by Prez Donald Trump in 2018, prior to Sleepy Joe's drama-filled election win. I'm not saying Biden has done a good job with this, more like this was inevitable. Gonna get a lot worse too. Just like 08 was all Wall Street's fault too, right? Link to comment Share on other sites More sharing options...
ALF Posted June 2, 2022 Share Posted June 2, 2022 10 minutes ago, Tenhigh said: Just like 08 was all Wall Street's fault too, right? Collateralized mortgage obligation , nah. The banks failure to access the value of each home before giving a mortgage was huge. Link to comment Share on other sites More sharing options...
SoCal Deek Posted June 2, 2022 Share Posted June 2, 2022 2 minutes ago, ALF said: Collateralized mortgage obligation , nah. The banks failure to access the value of each home before giving a mortgage was huge. We can reconstruct that disaster but I understood it as the loosening of the financial wherewithal requirements for people to purchase homes, after which those sketchy loans were bundled, sold and resold until the music stopped and unknowing lenders/investors were left holding the hot potatoes. 1 Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 2, 2022 Share Posted June 2, 2022 (edited) 11 minutes ago, SoCal Deek said: We can reconstruct that disaster but I understood it as the loosening of the financial wherewithal requirements for people to purchase homes, after which those sketchy loans were bundled, sold and resold until the music stopped and unknowing lenders/investors were left holding the hot potatoes. I would add to this, the credit rating agencies knowingly attaching "A" ratings to mortgage bundles they knew were garbage. Which allowed Wall Street to peddle these investments as "safe" to both funds and individual investors. On top of it all for one reason or another, firms like AIG which provided insurance against loss on these bundles didn't have the "reserves" and capital on their books to pay off when lenders came calling. All in all a classic example of systemic fraud generated by a delusional policy to expand home ownership to unqualified buyers. Edited June 2, 2022 by All_Pro_Bills 2 Link to comment Share on other sites More sharing options...
Steve O Posted June 2, 2022 Share Posted June 2, 2022 6 hours ago, Over 29 years of fanhood said: Figured this was coming next. Those already retired on fixed incomes are getting killed by bidenomics. And of course most those invested in equities for retirement just took a massive hit that will delay retirement plus the inflation hit which will compound the delay. Not disputing the post, actually agree with it. Just wondering why fixed incomes are always associated only with retired folks. When working I didn't get to tell the boss that Christmas was right around the corner, need to get an extra couple thousand this month. I can actually withdraw from my rainy day fund without penalty (aka roth & to an extent traditional ira) when a few extra bucks are needed now. Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 2, 2022 Share Posted June 2, 2022 8 minutes ago, Steve O said: Not disputing the post, actually agree with it. Just wondering why fixed incomes are always associated only with retired folks. When working I didn't get to tell the boss that Christmas was right around the corner, need to get an extra couple thousand this month. I can actually withdraw from my rainy day fund without penalty (aka roth & to an extent traditional ira) when a few extra bucks are needed now. It sounds like you did some rational and sound planning so you seem to be in relatively good shape. The majority of Americans don't have an emergency fund or financial plan that can cover an unexpected $500 expense. Link to comment Share on other sites More sharing options...
Tiberius Posted June 2, 2022 Share Posted June 2, 2022 Excellent A new report has found that rising fuel prices caused by the war in Ukraine have helped speed up the move toward renewable energy in some E.U. nations. Link to comment Share on other sites More sharing options...
Steve O Posted June 2, 2022 Share Posted June 2, 2022 1 hour ago, All_Pro_Bills said: It sounds like you did some rational and sound planning so you seem to be in relatively good shape. The majority of Americans don't have an emergency fund or financial plan that can cover an unexpected $500 expense. I like this...Rational and sound planning sounds a lot better than only so much even I could piss away so figured putting it in the retirement plan was as good a place as any for what was left over🙂 Link to comment Share on other sites More sharing options...
Precision Posted June 2, 2022 Share Posted June 2, 2022 (edited) 9 hours ago, Tiberius said: Excellent A new report has found that rising fuel prices caused by the war in Ukraine have helped speed up the move toward renewable energy in some E.U. nations. Hundreds died in '21 when power went out in Texas. Europe will be in much worse shape this winter as they will be rationing natural gas that's used for power generation and heat. I don't see anything "Excellent" about that. Former Obama energy adviser Jason Bordoff and Harvard University professor Meghan O'Sullivan wrote a piece in the Economist in late March warning that the world was on the cusp of "what may become the worst energy crisis since the 1970s." The world may be careening toward a 1970s-style energy crisis -- or worse Edited June 2, 2022 by Precision 1 Link to comment Share on other sites More sharing options...
Big Blitz Posted June 2, 2022 Share Posted June 2, 2022 Death by Lockdowns Big Corporations won. No one is buying small business. The game is rigged against you. You can't succeed in this environment. It is almost impossible. Small Businesses Getting Crushed, ADP Jobs Report Shows Businesses with fewer than 50 employees lost 91,000 workers last month, the May ADP National Employment Report said. Medium-sized business, defined as having more than 50 and less than 500 employees, added 97,0000 jobs. The headcount at larger businesses jumped by 122,000 jobs. As a whole, private sector payrolls rose by 128,000. That was far less than the gain of 299,000 expected. https://www.breitbart.com/economy/2022/06/02/small-businesses-getting-crushed-adp-jobs-report-shows/ 3 Link to comment Share on other sites More sharing options...
B-Man Posted June 7, 2022 Share Posted June 7, 2022 Link to comment Share on other sites More sharing options...
Big Blitz Posted June 10, 2022 Share Posted June 10, 2022 (edited) January 6th!!!!! Rents across U.S. rise above $2,000 a month for the first time ever ....Drotar's a single mom with a daughter in 5th grade. She's been trying to find a house she can afford to buy. "I just want some place where she can ride her bike and make friends with the neighbors and play with the kids and they can come over." But she keeps getting outbid when she makes offers. And now with mortgage rates up sharply she says she's just been priced out completely. Meanwhile, continuing to rent is getting harder to afford, too. https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever Economy is headed for complete collapse. Edited June 10, 2022 by Big Blitz Link to comment Share on other sites More sharing options...
Irv Posted June 10, 2022 Share Posted June 10, 2022 What a mess. Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 10, 2022 Share Posted June 10, 2022 All of this morning's data reported for May CPI figures, YOY, monthly, core and non-core measures above estimates. Link to comment Share on other sites More sharing options...
Big Blitz Posted June 10, 2022 Share Posted June 10, 2022 (edited) January 6!!!! The Consumer Price Index climbed 8.6 percent in the year through May, a rapid pace of inflation that is making it increasingly difficult for consumers to afford everyday purchases, and is posing a major challenge for the Federal Reserve and White House as they try to secure a strong and stable economy. https://www.nytimes.com/2022/06/10/business/economy/inflation-soared-again-in-may-fresh-data-showed.html?smid=url-share Lol - poor WH it's going to be a challenge to secure a strong economy that they deliberately tanked in 2020. Thank you Covidiots. Edited June 10, 2022 by Big Blitz 1 Link to comment Share on other sites More sharing options...
B-Man Posted June 10, 2022 Share Posted June 10, 2022 Inflation rose 8.6% in May, highest since 1981 The consumer price index rose 8.6% in May from a year ago, the highest increase since December 1981. Core inflation excluding food and energy rose 6%. Both were higher than expected. Surging food, gas and energy prices all contributed to the gain, with fuel oil up 106.7% over the past year. Shelter costs, which comprise about one-third of the CPI, rose at the fastest 12-month pace in 31 years. The rise in inflation meant workers lost more ground in May, with real wages declining 0.6% from April and 3% on a 12-month basis. https://www.cnbc.com/2022/06/10/consumer-price-index-may-2022.html Link to comment Share on other sites More sharing options...
B-Man Posted June 10, 2022 Share Posted June 10, 2022 1 Link to comment Share on other sites More sharing options...
PetermansRedemption Posted June 10, 2022 Share Posted June 10, 2022 14 hours ago, Big Blitz said: January 6th!!!!! Rents across U.S. rise above $2,000 a month for the first time ever ....Drotar's a single mom with a daughter in 5th grade. She's been trying to find a house she can afford to buy. "I just want some place where she can ride her bike and make friends with the neighbors and play with the kids and they can come over." But she keeps getting outbid when she makes offers. And now with mortgage rates up sharply she says she's just been priced out completely. Meanwhile, continuing to rent is getting harder to afford, too. https://www.npr.org/2022/06/09/1103919413/rents-across-u-s-rise-above-2-000-a-month-for-the-first-time-ever Economy is headed for complete collapse. All this data is just completely incompatible with anything but a recession. It’s coming, and fast. Link to comment Share on other sites More sharing options...
Doc Posted June 10, 2022 Share Posted June 10, 2022 Not to worry everyone. The J6 committee will fix all that... 1 Link to comment Share on other sites More sharing options...
B-Man Posted June 10, 2022 Share Posted June 10, 2022 The only thing these guys ever do is frame bad economic news around how its a challenge for Biden, and not because of him. It's only ever about how it affects him, not the people in the country. Link to comment Share on other sites More sharing options...
All_Pro_Bills Posted June 10, 2022 Share Posted June 10, 2022 (edited) I read another fun fact today. Thanks to all the spending and borrowing facilitated by the Federal Reserve under Bush, Obama, Trump, and most recently Biden the annual US Federal budget's debt service cost will rise to $525B after the Feds next 50 basis point increase. If they're serious about stopping inflation, which I personally don't believe they are, and they keep raising rates servicing the interest on the Federal debt will become the biggest line item in the budget. Edited June 10, 2022 by All_Pro_Bills Link to comment Share on other sites More sharing options...
PetermansRedemption Posted June 10, 2022 Share Posted June 10, 2022 Link to comment Share on other sites More sharing options...
Doc Posted June 10, 2022 Share Posted June 10, 2022 No wonder Joke wanted a Ministry of Truth. Link to comment Share on other sites More sharing options...
SoCal Deek Posted June 10, 2022 Share Posted June 10, 2022 Creepy Uncle Joe out here on the left coast and in the span of a few minutes at the microphone he threatened company’s with actual assault, and then went on to blame every living person (other than his administration) for inflation. Hey Joe…you still want to be the person in charge? Not as easy as hiding out on some worthless, do nothing, senate committee, is it Joe? What a total failure! 1 Link to comment Share on other sites More sharing options...
Doc Posted June 10, 2022 Share Posted June 10, 2022 2 minutes ago, SoCal Deek said: Creepy Uncle Joe out here on the left coast and in the span of a few minutes at the microphone he threatened company’s with actual assault, and then went on to blame every living person (other than his administration) for inflation. Hey Joe…you still want to be the person in charge? Not as easy as hiding out on some worthless, do nothing, senate committee, is it Joe? What a total failure! Or your basement... Link to comment Share on other sites More sharing options...
ExiledInIllinois Posted June 10, 2022 Share Posted June 10, 2022 All you high-rollers have lots of disposable income... What's 6 bucks a gallon. Link to comment Share on other sites More sharing options...
B-Man Posted June 10, 2022 Share Posted June 10, 2022 WHY I DOUBT THE JANUARY 6 SHOW TRIAL WILL RESONATE MUCH WITH THE PUBLIC: 1 Link to comment Share on other sites More sharing options...
B-Man Posted June 17, 2022 Share Posted June 17, 2022 SAY ANYTHING: Joe Biden Busted for His Latest Inflation Whopper. https://pjmedia.com/news-and-politics/matt-margolis/2022/06/17/joe-biden-busted-for-his-latest-inflation-whopper-n1606049 1 Link to comment Share on other sites More sharing options...
PetermansRedemption Posted June 18, 2022 Share Posted June 18, 2022 3 hours ago, B-Man said: SAY ANYTHING: Joe Biden Busted for His Latest Inflation Whopper. https://pjmedia.com/news-and-politics/matt-margolis/2022/06/17/joe-biden-busted-for-his-latest-inflation-whopper-n1606049 Love Peter Doocy calling them out and hearing the same garbage repeated time and time again. “Pandemic, Putin Price Hike”. 2 Link to comment Share on other sites More sharing options...
ALF Posted June 21, 2022 Share Posted June 21, 2022 Inflation rocks businesses as owners warn Americans are cutting home improvements, service expenses Businesses say customers putting off roof replacements, house cleanings and AC repairs due to rising costs https://www.foxnews.com/media/inflation-rocks-businesses-owners-warn-americans-cutting-home-improvements-service-expenses After 43 years cancelled Buffalo News home delivery , 3 months ago stopped buying beer. I lived thru inflation early 80's maybe I was too young to care , well being retired does have limitations. 1 1 Link to comment Share on other sites More sharing options...
PetermansRedemption Posted June 21, 2022 Share Posted June 21, 2022 2 hours ago, ALF said: Inflation rocks businesses as owners warn Americans are cutting home improvements, service expenses Businesses say customers putting off roof replacements, house cleanings and AC repairs due to rising costs https://www.foxnews.com/media/inflation-rocks-businesses-owners-warn-americans-cutting-home-improvements-service-expenses After 43 years cancelled Buffalo News home delivery , 3 months ago stopped buying beer. I lived thru inflation early 80's maybe I was too young to care , well being retired does have limitations. Unrelated, but curious. I cancelled Buffalo news a few years ago. What’s the going rate these days for home delivery? Link to comment Share on other sites More sharing options...
ALF Posted June 21, 2022 Share Posted June 21, 2022 13 minutes ago, PetermansRedemption said: Unrelated, but curious. I cancelled Buffalo news a few years ago. What’s the going rate these days for home delivery? Latest offer to me $702 a year but starting Jun 20 a extra $5 per month fuel surcharge for the next 4 months. 2 Link to comment Share on other sites More sharing options...
Chef Jim Posted June 21, 2022 Share Posted June 21, 2022 2 hours ago, ALF said: Inflation rocks businesses as owners warn Americans are cutting home improvements, service expenses Businesses say customers putting off roof replacements, house cleanings and AC repairs due to rising costs https://www.foxnews.com/media/inflation-rocks-businesses-owners-warn-americans-cutting-home-improvements-service-expenses After 43 years cancelled Buffalo News home delivery , 3 months ago stopped buying beer. I lived thru inflation early 80's maybe I was too young to care , well being retired does have limitations. You might want to rethink the highlighted. LOL But seriously. I quit drinking a few years ago. Yes I do partake occasionally so I'm not 100% teetotaling but the money I've saved by sticking with water has got to be astounding. LOL My wife fully retired 1/1/22 and I semi-retired so I've started looking at prices more closely. Never did that before. I'd just throw ***** in the shopping cart. Not anymore. 1 Link to comment Share on other sites More sharing options...
SoCal Deek Posted June 21, 2022 Share Posted June 21, 2022 1 hour ago, ALF said: Latest offer to me $702 a year but starting Jun 20 a extra $5 per month fuel surcharge for the next 4 months. Canceled my local newspaper years ago. Believe me, you won’t miss it. 1 Link to comment Share on other sites More sharing options...
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