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Cost of living, rising inflation

Started by Gaon, March 22, 2022, 09:27:17 PM

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Breakfall

#90
May 13, 2022, 08:53:56 PM
Quote from: "Dinky Dazza" post_id=450013 time=1652488758 user_id=1676
Fiat money is being printed into worthless territory.



I see people pointing at crypto the last week and laughing but a good portion of crypto have a finite supply....ie no crypto printing presses except with new shitcoin creations in a roundabout way.


Crypto even sounds dangerous. High risk? Admittedly I haven't looked into it much. Many have tried to sway me. Bit coin, crypto currency ...they all seem like a recipe for disaster. E-money seems so dubious!

Anonymous

#91
May 13, 2022, 08:56:00 PM
Those frickin democRATs always blaming everybody else for their own failures.



https://www.theblaze.com/news/federal-reserve-economists-debunk-democrat-talking-point-gas-prices?utm_source=theblaze-dailyPM&utm_medium=email&utm_campaign=Daily-Newsletter__PM%202022-05-13&utm_term=ACTIVE%20LIST%20-%20TheBlaze%20Daily%20PM">https://www.theblaze.com/news/federal-r ... Daily%20PM">https://www.theblaze.com/news/federal-reserve-economists-debunk-democrat-talking-point-gas-prices?utm_source=theblaze-dailyPM&utm_medium=email&utm_campaign=Daily-Newsletter__PM%202022-05-13&utm_term=ACTIVE%20LIST%20-%20TheBlaze%20Daily%20PM

Economists at the Federal Reserve of Dallas published analysis this week debunking a popular claim that Democrats make against oil companies.



As gas prices reached new record highs this week, the popular Democratic talking point — that oil and gas companies are profiteering — was recycled into the national conversation.



Garrett Golding and Lutz Kilian, senior economic analysts at the Federal Reserve of Dallas, explained that profiteering and price gouging are not contributing to the staggering price of gas.



Two facts in particular disprove this myth. Golding and Kilian explained:



Gas station operators set prices: "Gas station operators set retail prices based on their expected acquisition cost for the next delivery of fuel from the local distributor, federal and state tax rates, and a markup that covers operating expenses, such as rent, delivery charges and credit card fees."



Nearly every gas station is owned by a company that does not produce oil: "Since only 1 percent of service stations in the U.S. are owned by companies that also produce oil, U.S. oil producers are in no position to control retail gasoline prices."



Meanwhile, they explained that in March 2022, when the average price of gasoline was $4.22 per gallon, 59% of the cost was directly related to the price of the oil, while 18% of the cost was refining the oil, 12% of the cost was distribution and marketing, and the remaining 12% was the cost of taxes.



The economists also addressed asymmetric nature of gas price changes.



[T]he asymmetry of the response of retail gasoline prices need not be evidence of price gouging. One potential explanation is that station operators are recapturing margins lost during the upswing, when gas stations were initially slow to increase pump prices. The reluctance to lower retail prices also likely reflects concerns that oil prices—and, hence, wholesale gasoline prices—may quickly rebound, eating into station profit margins.



Another possible reason for this asymmetry is consumers' tendency to more intensively search for lower pump prices as gasoline prices rise than when they decline. This diminished search effort provides further pricing power to gas stations, causing prices to fall more slowly than they rose. This has prompted researchers to liken the response of gasoline prices to higher oil prices to a rocket—and the response to lower oil prices to a feather.

Breakfall

#92
May 13, 2022, 09:02:14 PM
Quote from: Fashionista post_id=450009 time=1652488337 user_id=3254
Quote from: "Dinky Dazza" post_id=450008 time=1652488075 user_id=1676
Run away inflation or hyperinflation can't be combated easily.



Look at Venezuela, Zimbabwe, Argentina for decades now, Greece, Sri Lanka, and the USSR at the end. A Russian newspaper was leaving unmarked squares the size of cigarette papers to boost its sales at one point and bread lines went for blocks.



This isn't just a case of mismanagement.... it's an intentional squeeze.

Seoul warned that inflation was comng at the start of the pandemic when governments poured so much money into the economy and shut everything down.


I'm actually waiting for the interest rates to rise so housing becomes more realistic and readily available at a lower price. I currently rent a modest house that was worth $350 000 8 years ago, but is valued at almost a million dollars today. It's only weatherboard. A Chinese lady owns it and lives back in China. I may have mentioned this before.



Nothing is worth what they are currently been sold at. It's unbelievable at the moment.

Frood

#93
May 13, 2022, 09:07:23 PM
Houses have become speculative assets or a form of gambling.... similar to crypto and the stock market.



Australians think nothing of a 30 year mortgage at high variable interest rates.
Blahhhhhh...

Breakfall

#94
May 13, 2022, 10:52:03 PM
Quote from: "Dinky Dazza" post_id=450023 time=1652490443 user_id=1676
Houses have become speculative assets or a form of gambling.... similar to crypto and the stock market.



Australians think nothing of a 30 year mortgage at high variable interest rates.


That debacle that I mentioned with a joint family asset! The property was bought at $1.9 million nearly two and a half years ago a couple months  pre-Covid, is worth between 3 and 4 million now. It's going on the market soon. We finally get our 350K out of it. Hey? My wife and I just shake our heads and laugh at that whole shit show. What a joke!

Anonymous

#95
May 14, 2022, 12:31:38 PM
Interest rates were really low for the longest time.

Anonymous

#96
May 14, 2022, 08:40:25 PM
India has banned all wheat exports following a widespread heatwave that affected the country's supply of the crop. This won't help food prices.

Anonymous

#97
May 14, 2022, 09:20:05 PM
Quote from: Herman post_id=450157 time=1652575225 user_id=1689
India has banned all wheat exports following a widespread heatwave that affected the country's supply of the crop. This won't help food prices.

Does India export much wheat?

Anonymous

#98
May 14, 2022, 09:26:48 PM
Quote from: Fashionista post_id=450161 time=1652577605 user_id=3254
Quote from: Herman post_id=450157 time=1652575225 user_id=1689
India has banned all wheat exports following a widespread heatwave that affected the country's supply of the crop. This won't help food prices.

Does India export much wheat?

Ya, especially to it's neighbours Afghanistan and Bangladesh. India is the world's second biggest producer of wheat. This move by India move will add to global inflationary pressure and further strain global food supplies.

Gaon

#99
May 14, 2022, 10:49:24 PM
Quote from: Herman post_id=450157 time=1652575225 user_id=1689
India has banned all wheat exports following a widespread heatwave that affected the country's supply of the crop. This won't help food prices.

Agriculture is the biggest sector of the Indian economy.
The Russian Rock It

Anonymous

#100
May 14, 2022, 11:24:26 PM
Quote from: Gaon post_id=450168 time=1652582964 user_id=3170
Quote from: Herman post_id=450157 time=1652575225 user_id=1689
India has banned all wheat exports following a widespread heatwave that affected the country's supply of the crop. This won't help food prices.

Agriculture is the biggest sector of the Indian economy.

I assumed that, but I didn't  know how much wheat India produces.

Anonymous

#101
May 15, 2022, 09:29:43 PM
Spotted in Perth, Ontario.

https://scontent.fyqr2-1.fna.fbcdn.net/v/t39.30808-6/281624971_315648997415652_1335627883263575951_n.jpg?stp=dst-jpg_s960x960&_nc_cat=1&ccb=1-6&_nc_sid=8bfeb9&_nc_ohc=qTjmZOIRZH0AX-iVWq3&_nc_ht=scontent.fyqr2-1.fna&oh=00_AT9K8o1sflHZHMZafpU_AWChbYLWkiEpyJuGgJ95ZTelJw&oe=6286BD49">

Anonymous

#102
May 16, 2022, 12:58:44 PM
Quote from: Herman post_id=450239 time=1652664583 user_id=1689
Spotted in Perth, Ontario.

https://scontent.fyqr2-1.fna.fbcdn.net/v/t39.30808-6/281624971_315648997415652_1335627883263575951_n.jpg?stp=dst-jpg_s960x960&_nc_cat=1&ccb=1-6&_nc_sid=8bfeb9&_nc_ohc=qTjmZOIRZH0AX-iVWq3&_nc_ht=scontent.fyqr2-1.fna&oh=00_AT9K8o1sflHZHMZafpU_AWChbYLWkiEpyJuGgJ95ZTelJw&oe=6286BD49">

It's $1.87.9 at Co-op in Winnipeg.

Rancidmilko

#103
May 16, 2022, 04:53:32 PM
You know times are rough when your date sends you a detailed spreadsheet with the costs of your weekend and asks you to pay your half



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There\'s always a bigger fish.

Anonymous

#104
May 16, 2022, 04:55:23 PM
Quote from: Rancidmilko post_id=450276 time=1652734412 user_id=2853
You know times are rough when your date sends you a detailed spreadsheet with the costs of your weekend and asks you to pay your half



">

 :laugh:
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