Inflation here? gas/grocery prices just continue to climb (1 Viewer)

[J-Donk]

I think I would miss food the most. So is this an economic and societal collapse we have coming? I'm trying to understand the severity of what's on the horizon. Back when Covid was just getting started, I didn't take bclemms seriously enough and I don't want to make that mistake again.

China is the middle of covid zero policy. Russia has massive sanctions. It's the end of globalization.

Larry Fink, who has a 10 trillion dollars under management thinks globalization is over.

You can find all kinds of articles on this stuff. Here is one: https://www.bloomberg.com/news/arti...-so-last-year-the-new-lingo-is-friend-shoring

 

[dtc]

"wealth" was parenthetical for a reason. There are many folks out there who arent sitting on $1,000,000 in retirement funds, yet are reliant on them.

Pretty crass comment for many who, like my mom, didnt have ANY opportunity to start an IRA until her 50s and managed to build a small nest egg.

Those folks are getting hit hard and may be on the cusp of retirement or just recently retired.

That was who that was about. This aint about OBAMA or TRUMP or none of that. This is simply about the current market conditions as it relates to inflationary pressures.

No one is whining and no one give a $#$% about the last 13 years. My comment was it has to be a shock for them.

sheesh.

You didn't get my point then.

If your "wealth" is such that what you've lost in the past 6 months is real to you then you haven't been in the market for any length of time and your perspective is skewed no matter what your personal situation.

The market has been jacked up crazy for years. People think they're going to be making 10% every month and can't lose, but you can and you don't.

The market goes up and down sometimes. It's been so up for so long that if you put 1m in a year ago and that's your retirement plan you've done it all wrong and you're screwed. If you put in 100k 15 years ago after the 08 crash then you've made so much freaking money that complaining about what you've "Lost" in the past 6 months is absurd.

I paid 1,87 for Ford back in 09. Other stocks were silly low and have gone nuts. You can't complain about "losing" money in 6 months when you've been up for 15 years.

 

[Bill]

I think I would miss food the most. So is this an economic and societal collapse we have coming? I'm trying to understand the severity of what's on the horizon. Back when Covid was just getting started, I didn't take bclemms seriously enough and I don't want to make that mistake again.

It's likely that we're going to look back and view Covid as a picnic. When necessities get scarce (and unaffordable), things will break down rather quickly.

 

[El Caliente]

What should we stock up on? Toilet paper? Ammo? Soup? Ramen? All of these plus more?

During times of inflation and uncertainty commodities and real estate are great plays (or so I learned in order to pass my series 66 exam, lol).

 

[DaveXA]

You didn't get my point then.

If your "wealth" is such that what you've lost in the past 6 months is real to you then you haven't been in the market for any length of time and your perspective is skewed no matter what your personal situation.

The market has been jacked up crazy for years. People think they're going to be making 10% every month and can't lose, but you can and you don't.

The market goes up and down sometimes. It's been so up for so long that if you put 1m in a year ago and that's your retirement plan you've done it all wrong and you're screwed. If you put in 100k 15 years ago after the 08 crash then you've made so much freaking money that complaining about what you've "Lost" in the past 6 months is absurd.

I paid 1,87 for Ford back in 09. Other stocks were silly low and have gone nuts. You can't complain about "losing" money in 6 months when you've been up for 15 years.

Sure, but I think the problem lies more in the planning aspect. If you've planned out your retirement based on the value of your assets 6 or 12 months ago, but have lost say 30% since then, that would definitely throw a wrench in those plans. Not to mention the significant levels inflation during that same period of time, so, it's a bit of a double whammy. That said, hopefully you have some sort of contingency plans in the event the markets take a big hit, whether it's downsizing or returning to work. But most people, once they've committed, don't really have those immediate options.

 

[DaveXA]

During times of inflation and uncertainty commodities and real estate are great plays (or so I learned in order to pass my series 66 exam, lol).

Typically yes, but certainly not always.

 

[gboudx]

It's likely that we're going to look back and view Covid as a picnic. When necessities get scarce (and unaffordable), things will break down rather quickly.

So stock up on ammo then.

 

[itztime]

So stock up on ammo then.

……..and wild women.

 

[Bill]

So stock up on ammo then.

That's not my style. I'm never going to make that kind of recommendation.

 

[bonnjer]

It's likely that we're going to look back and view Covid as a picnic. When necessities get scarce (and unaffordable), things will break down rather quickly.

How long do you think we've got before all of this goes down?

 

[El Caliente]

How long do you think we've got before all of this goes down?

Well, it’s Hurricane season, so 12 hours.

But seriously, put some cash aside if you can, build up food storage, and keep your organs in good enough condition where you won’t get sick, or where you can get top dollar if you need to sell one.

 

[Bill]

How long do you think we've got before all of this goes down?

Probably before the end of '22. Gonna be rougher than most want to think about.

 

[Super44]

Add in, for most in south Louisiana, increased homeowner’s insurance premiums on their renewals and things will get even worse here in South Louisiana. Inflation, higher gas prices, higher insurance premiums; beautiful!

 

[SaintInBucLand]

So Jerome Powell wants wages to go down to help fight inflation?

U.S. Federal Reserve says its goal is ‘to get wages down’ | MR Online

U.S. Federal Reserve chairman Jerome Powell said his goal is “to get wages down,” complaining workers have too much power in the labor market. Economist Michael Hudson says this is “junk economics,” and corporate monopolies are driving inflation, not wages.

mronline.org

Isn't this what was said a couple years back against the argument of continuing to raise the minimum wage.. That prices would increase, thus inflation?

Is Powel confirming the thesis that if wages rise that prices will follow the wage increases.

 

[bonnjer]

In today's central Louisiana depressing as all heck gas report, I just filled up my tank. For 3/4 of a tank, it cost me $73. Price was $4.54, up more than ten cents from mid-week. It's bad when it jumps up five or six cents over a week or so, but when it jumps more than ten cents at a time, it really hurts.