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re: Runaway hyperinflation now at 3% YoY
Posted on 7/19/23 at 10:29 am to Cold Cous Cous
Posted on 7/19/23 at 10:29 am to Cold Cous Cous
quote:
Inflation is down folks, but, good news, home prices are wayyyyyy up. You have to have a phD in econ to square that circle I guess.
It’s neutral news. If you have less wealth today than you did at the start of 2021, you’re doing something way wrong.
2
Posted on 7/19/23 at 11:28 am to slackster
quote:
If you have less wealth today than you did at the start of 2021, you’re doing something way wrong.
Oh they really hate that one.
It’s amazing some people are hell bent on convincing themselves and those around them that doing well financially is impossible in 2023.
Posted on 7/19/23 at 11:53 am to JohnnyKilroy
quote:
Oh they really hate that one. It’s amazing some people are hell bent on convincing themselves and those around them that doing well financially is impossible in 2023
When asked if they’re worse off than three years ago, you get a very reluctant yes but I’m just lucky because all my neighbors are standing on bread lines.
Posted on 7/19/23 at 12:13 pm to CAPEX
quote:
Your real wages are the same as they were in Q4 2020 terms which means you can buy the same basket of goods that you could back then for a similar percentage of your income.
Do you really believe this?
Would you rather buy a house now or in 2020? (I'll even let you buy at 3%)
Would you rather buy a car now or in 2020?
Would you rather buy food now or in 2020?
Posted on 7/19/23 at 12:36 pm to slackster
quote:
It’s neutral news. If you have less wealth today than you did at the start of 2021, you’re doing something way wrong.
It's not 'neutral' news, it's highly dependent on your life situation. It's good news if you are a retiring boomer looking to take $ out of a house. It's bad news if you are younger and looking to either (1) buy your first house or (2) sell a smaller house and move into a bigger one. Or (3) you're a renter and subject to rent increases whenever your lease allows, because those costs will be passed on to you. If you're staying put it's good news on paper, but meaningless in any practical sense.
Also everyone having "more wealth" is like the dictionary definition of inflation. If you have more wealth, and things cost more, that's neutral news.
Posted on 7/19/23 at 6:23 pm to Cold Cous Cous
quote:
Also everyone having "more wealth" is like the dictionary definition of inflation. If you have more wealth, and things cost more, that's neutral news.
I’ll define it further then - all else being equal, your (as in, most of the money talk) net worth in 2023 should be higher in real terms than it was in 2021.
You make it sound like growing your net worth is useless because of inflation. Yes, inflation has been high the last two years, but your investments should have grown even faster than inflation at this point. That’s one of the main benefits of real tangible assets like homes and equities.
Posted on 7/20/23 at 4:34 pm to JohnnyKilroy
quote:
It’s amazing some people are hell bent on convincing themselves and those around them that doing well financially is impossible in 2023.
In times like what we've seen over the last couple of years with high inflation, if you have economic reserves it produces bargains to take advantage of. If you live paycheck to paycheck and get laid off, you are the bargain.
Posted on 7/20/23 at 4:37 pm to slackster
bullshite, food is up. The thing thats actually important.
Posted on 7/20/23 at 4:38 pm to dgnx6
quote:
bullshite, food is up. The thing thats actually important.
That’s why core inflation is higher at 4.8%. Did you even read?
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