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Started By
Message
Runaway hyperinflation now at 3% YoY
Posted on 7/12/23 at 7:39 am
Posted on 7/12/23 at 7:39 am
14
Posted on 7/12/23 at 7:42 am to slackster
Looking more and more like a soft landing. Especially with the futures on the stock market right now.
Posted on 7/12/23 at 7:57 am to FLObserver
quote:
Looking more and more like a soft landing.
I don’t even see any signs of a landing at all, especially with the stock market. This economy is strong in a lot of key areas.
This post was edited on 7/12/23 at 8:47 am
Posted on 7/12/23 at 8:01 am to slackster
Food and energy still at almost 5% increase. The things people buy the most
Posted on 7/12/23 at 9:25 am to slackster
Looks like growth is back on the menu boys.
Posted on 7/12/23 at 9:38 am to Civildawg
quote:
Food and energy still at almost 5% increase. The things people buy the most
Lol what? You completely misheard or misread the print.
All items LESS food and energy are up 4.8% YoY, which means food and energy are down significantly YoY.
More specifically, food is up 5.7% while energy is down 16.7%.
Posted on 7/12/23 at 9:44 am to slackster
Some of these folks are so desperate for continued doom and gloom that they can’t help themselves.
If this report would have showed 8% inflation and a panicked stock market today, there would be three threads on every board first thing this morning.
If this report would have showed 8% inflation and a panicked stock market today, there would be three threads on every board first thing this morning.
Posted on 7/12/23 at 10:03 am to slackster
You’re excited food is still up 5.7%? I like which way we’re headed but it’s still absurdly too high for every household.
Real wage growth was up for the first time in like 22 months. I think that’s the biggest positive.
Real wage growth was up for the first time in like 22 months. I think that’s the biggest positive.
Posted on 7/12/23 at 10:10 am to slackster
The big brains on tOT couldn’t figure this out either lol
Posted on 7/12/23 at 10:25 am to JohnnyKilroy
Reading financial opinions on the OT or PT is quite depressing.
Posted on 7/12/23 at 10:37 am to STLhog
quote:
You’re excited food is still up 5.7%? I like which way we’re headed but it’s still absurdly too high for every household.
This looks like it will be the hardest piece of the inflation puzzle. I mean even if the number starts dropping how fast will companies be willing to drop prices if people are still willing to pay for it even when it is more expensive. This will be a slow and painful process and could take years. Can already see companies dragging their feet. Well supply chain issues are still a problem and cost of goods to produce are still high etc...
Posted on 7/12/23 at 10:56 am to FLObserver
quote:
Can already see companies dragging their feet.
Ad an investor in some of these companies, they should attempt to maximize profits. As a consumer, I want my $1.99 Santita Tortilla chips back!
Posted on 7/12/23 at 11:06 am to STLhog
quote:
You’re excited food is still up 5.7%? I
No, I’m just pointing out the inaccuracy of the poster’s statement. He probably heard all items less food and energy were up 4.8% and came here to share that food and energy were up nearly 5% YoY, which is not true.
Food is up more, energy is down nearly 17%, and the combined food and energy impacts are substantially LOWERING the headline inflation number.
Also, food has moderated quite a bit year to date. Through the first 6 months of the year, food price inflation as measured by CPI is only up 1.2%. That’s a reasonable 2.4% clip for the full year.
Posted on 7/12/23 at 11:44 am to slackster
Meh, core inflation is still too high, and the figures you are harping on are driven by the big drop in energy. Energy is volatile and subject to big swings. And the price of gas is still a helluva lot higher than it was in 2020. Our dollars have lost a lot of purchasing power in the last couple of years.
Those of us with wealth like real estate and equities aren't faring so bad. Working class people are getting crushed. I'd hate to be a young person just starting out and needing to buy a house right now.
Those of us with wealth like real estate and equities aren't faring so bad. Working class people are getting crushed. I'd hate to be a young person just starting out and needing to buy a house right now.
Posted on 7/12/23 at 11:48 am to SloaneRanger
quote:
I'd hate to be a young person just starting out and needing to buy a house right now.
I feel like people have been saying this every 10 years for the past 50 years.
Not agreeing or disagreeing with anything you said but it’s just worth noting that it seems to be a generational cycle when young people are starting out.
Posted on 7/12/23 at 11:58 am to SloaneRanger
quote:
Meh, core inflation is still too high, and the figures you are harping on are driven by the big drop in energy. Energy is volatile and subject to big swings. And the price of gas is still a helluva lot higher than it was in 2020. Our dollars have lost a lot of purchasing power in the last couple of years.
What’s the right price for gas? Or milk?
On the whole though, I agree core is still too high, but it’s below the federal funds rate for the first time in 15 years, so my belief is that it will be tamed in due time.
Posted on 7/12/23 at 11:58 am to Paul Allen
The combination of higher interest rates, much more expensive housing (in many cases driven by lack of inventory), and sharply higher insurance premiums in many parts of the country is a killer. True, interest rates aren't that high in historic terms. But they are twice what they were just a couple of years ago, and it is very hard to get a quality home. I have seen my kids, nieces and nephews struggle with this.
Posted on 7/12/23 at 12:11 pm to SloaneRanger
quote:
and it is very hard to get a quality home.
Affordable homes are available, but this qualifier gets thrown out a lot.
I don't think people understand what a first time home truly is.
There are way too many excuses thrown around. I'm looking at kiddie condos right now in metro Atlanta and the market is full of great properties for first time homebuyers.
Message boards come off as people liking to complain (instead of looking for a simple solution to what is a simple problem).
Posted on 7/12/23 at 12:15 pm to slackster
quote:im almost certain 80% of the people that use this word doesn't know the definition
hyperinflation
95% on the OT and 99% on the poli board
Posted on 7/12/23 at 12:16 pm to meansonny
quote:the country as a whole, every living generation, has gotten too comfy, soft, and spoiled
I don't think people understand what a first time home truly is.
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