INFLATION--FED announces 0.50% interest rate cut

We can't let it get too out of control, or we could have a French Revolution/Mexican Revolution/Russian Revolution type of scenario.

For social stability, and a good society in general, the middle needs to be big, real big. And the middle shouldn't be struggling so much just to get by.

And for any moronic leftists who are cheering on a revolution--ultimately, some opportunistic jackass always takes it over and purges/kills all the leftist ideologues like you.
 
Chop said:
https://www.usnews.com/news/best-co...-us-declines-in-annual-quality-of-life-report

The Decline of The American Standard of Living

Looking to the Future, Public Sees an America in Decline on Many Fronts

image-placeholder-title.jpg


Black line = hourly earnings, flat $, not adjusted for inflation
Blue line = hourly earnings adjusted per CPI (which only captures about 1/2 of inflation)
Green line = hourly earnings adjusted per actual inflation

If you're old enough, remember when you could go get a part-time fast food job at 16 years old and pay for a car (a cheap car, probably used, but still a car), insurance, and have plenty of spending $ left over. That ain't happening these days. I paid for my entire first semester tuition at UT with leftover $ from a very lowly Summer job at a restaurant. That definitely ain't happening these days. Fast forward--you're newly married with an entry level corporate job, and you can easily buy a starter home and make the payments no problem. That ain't how it is for most young married couples these days.

Remember when the Astros played in the Dome, and you'd see all kinds of working class, and lower, looking families and individuals at the games, eating hot dogs, and drinking beer. The parking lot would be full of beater-cars, along with the nice cars. Back then, the only stratification was box seats vs cheap seats--and there were 20,000+ cheap seats available. Now go to an Astros game--the only place you'll find the working class and below is working the concession stand or cleaning the bathrooms.
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If you look into the data in this link, you will see the future earnings were taken away from men and given to women, starting in the 1970’s:


Inflation-Adjusted, Men Are Making Less Money Than In 1979; Women Are Doing Better | ZeroHedge
 
BTW - just got back from a trip to the Commissary at NAS Fort Worth (Carswell AFB for us old-timers). Gas at the base service station was showing $3.64/gallon.
 
HHD
My Kroger is $3.39 without any discount.
Most pay at least $.03 /gal off that
Wonder why it was so much at Carswell?
 
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mchammer said:
All the data and from personal experience at my job screams recession and deflation for the manufacturing sector. Services sector is still expanding and experiencing 4-5% inflation, but manufacturing is really bad right now:

US Manufacturing Surveys Confirm Contraction; Employment Weakest Since COVID Lockdowns | ZeroHedge
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Manufacturing contraction is a clue that supply is misaligned to demand. Much of this is probably EVs. They had huge forecasts going into the year and people just don't want to buy them.
 
HornHuskerDad said:
Believe me, those of us on a fixed income are well aware of inflation. I feel it every time I go to the grocery store or stop at the gas station. The 5.9% COLA on Social Security will help in January, but not now. And some of that COLA will be eroded by a huge increase in Medicare cost.
And I don't see any indication that the Biden administration cares.
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I am curious what have been the COLA increases for the last 3 years. I bet it has been higher than my salary increases. Found it (see below). Also latest estimate for COLA next year is 3% increase.

IMG_7548.jpeg
 
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mchammer said:
I am curious what have been the COLA increases for the last 3 years. I bet it has been higher than my salary increases. Found it (see below). Also latest estimate for next year is 3% increase.

View attachment 8264
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For all the old men on this site bitching about COLA increases being insufficient, here is my salary increases on my base salary for the last 4 years (2020-2023): 0%, 2.6%, 2.9%, and 4.5%. Thus, if my base salary was 100 in 2020, it will be 110.3 in 2024. For SS, here are the increases for the last 4 years: 1.3%, 5.9%, 8.7%, and 3.0% (estimated). Thus, if your SS monthly check was 100 in 2020, it will be 120.1 in 2024. In other words, you are likely doing MUCH better than most folks. Also, you are likely not buying a new house or car on credit, thus not hit by higher interest rates. By the way, I do get paid a bonus, but that is entirely dependent on how well our company does and it fluctuates year to year irrespective of inflation.
 
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mc
This is a sincere question and not meant to be snarky
but if you are unhappy with your raises why not seek other unemployment?
Or are you confident in your ability to get bonus raises on productivity of your company?
 
nashhorn said:
Sorry mc for the poop, but that is ridiculous. SS is nothing compared to your salary and you know it.
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Yes I know it. I am also jerking your chain (it’s the off-season). The jerk response of course is that you are free to re-join the workforce if you feel your retirement income is insufficient relative to recent inflation. A retiree is not going to get any sympathy from me (until I retire of course).
 
Horn6721 said:
mc
This is a sincere question and not meant to be snarky
but if you are unhappy with your raises why not seek other unemployment?
Or are you confident in your ability to get bonus raises on productivity of your company?
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Not offended - it’s a legit question. Two answers: my benefits are grandfathered from 26 years ago that you cannot get today, even at Exxon and Shell. Second, I think what I am experiencing is happening all over my industry so I don’t think I can get better at another company. Also the bonus is basically out of my control unless I get promoted, which would place me in a more lucrative bonus program (at least based on past practice). However, the company and others are trying to restrict the number of directors and vice presidents to a minimum so I am expecting to take over my boss’ job when he retires in 1-2 years but without the promotion or better bonus program.
 
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There are a lot of school districts looking for bus drivers - just saying.
 
mchammer said:
Yes I know it. I am also jerking your chain (it’s the off-season). The jerk response of course is that you are free to re-join the workforce if you feel your retirement income is insufficient relative to recent inflation. A retiree is not going to get any sympathy from me (until I retire of course).
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A retiree is free to rejoin the workforce, but why should they have to just because the current generation wanted to piss money away and run up the inflation rate?
 
Fitch just downgraded US. To be clear this was as much about the dysfunction of US politicians as it was US debt load but it is a kind of shot across the bow about our massive debt spending.
 
Mr. Deez said:
A retiree is free to rejoin the workforce, but why should they have to just because the current generation wanted to piss money away and run up the inflation rate?
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I suffer the same effects of inflation as a retiree (yes I make more money than a retiree, but I have 4 kids at home and have to work longer and retire later due to inflation), but you don’t hear me bitching about it everyday on this thread. Also, if you read the whole thread, you will see that I have been equally critical of the Fed’s actions and the irresponsible spending by Congress. Which reminds me, this thread is about the trajectory of inflation and how it is impacted by Fed monetary policy. These folks can start their own thread if they want to ***** about high prices so I don’t have to see it. I also have 10% of the job security that today’s retirees had back in their day. Do I run to this site to ***** about that every day? Finally, retirees today are getting their full SS benefits whereas for you and me there is no guarantee that we will see it. You guys can stuff it.
 
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Mr. Deez said:
A retiree is free to rejoin the workforce, but why should they have to just because the current generation wanted to piss money away and run up the inflation rate?
Click to expand...
I remember when you could get 5 cent ice cream cones at the grocery store back in nineteen dickety-six.
 
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