Not a good sign. Hope it won't begin the process of increasing interest rates, etc., etc., etc...... https://www.marketwatch.com/story/u...ghest-level-in-13-years-cpi-shows-11620823628 U.S. inflation soars in April to 13-year high, CPI shows, and reveals fresh stress on the economy The numbers: Consumer prices rose sharply again in April and drove the rate of inflation to the highest level in nearly 13 years, signaling greater stress on the economy as businesses grapple with supply shortages that are raising the cost of many goods and services. The consumer price index soared 0.8% to match the biggest monthly increase since 2009, the government said Wednesday. Economists polled by Dow Jones and The Wall Street Journal had forecast a milder 0.2% advance. The rate of inflation over the past year jumped to 4.2% from 2.6% in the prior month — the highest level since 2008. The pace of inflation has surged after years of languishing at unusually low levels largely due to the rapid reopening of the U.S. economy. Businesses can’t keep up in demand, a problem exacerbated by ongoing bottlenecks in the global trading system tied to the pandemic. Computer chips are especially in short supply and that’s held up production of new autos and other manufactured goods. Americans are also rushing to dine out, travel or go far away for vacation, activities they shied away from during the pandemic. That’s also driving up prices at popular vacation resorts and other venues where people plan to congregate.....(CONTINUED)
Modest amount of cash, two credit and one debit card, assorted store discount cards, assorted business cards, BART pass, library card, AAA card, membership cards from ACLU, Amnesty International, Human Rights Campaign, Center for Inquiry, Planned Parenthood. Also driver's license, insurance card, nail file, vaccine card.
Yea, nobody made anything last year now it's a big supply crunch, in top of extra demand. That's got to be helping to fuel the inflation price increases.
A combo meal at Carl's Jr is now over $12. It's ridiculous. I spent something like $35 for three combo meals for my wife and MIL and myself. So inflation has soared.... but my pay has not.
Don't go to burgerville then, it's like double that. One time we just canceled our order at the pick up menu and went to Red Robin instead
Seriously.... for $35 I could go buy steaks. Fast food isn't supposed to cost the same as a sit down restaurant.
This is JUST the beginning.... It's going to get very painful in the next 3-10 years. The US Dollar is currently loosing the 'world reserve' status. The FED and the US Government are boxed in. They can't increase interest rates or the US Government will default on the obligations. The ONLY option is to foster inflation...which they're going to get in spades. The unfortunate part about this is it's going to hurt the poor and working class even more.
The house next to my son's house in a nice area of Eugene went on the market before covid for 275k.....it's sold 3 times in a year and a half...last time for over 600k......greedy real estate practices are hurting the recovery effort...California has lost 186k residents for the first time in it's history....priced out of the housing market. Real estate has spun way out of control so guys like Zuckerberg are now able to monopolize ownership of vast tracts of property in Hawaii..etc...and cater to the wealthy with multiple houses while the working class can't afford a first house in many cases. This country needs real estate reform so ways and means aren't ridiculously classist in their targeting...what's in my wallet is unimportant to anyone but myself...it's not what's in your wallet....it's what's in your cupboards
California has gone down the shitter the past few years, in a pretty obvious way. Also, the pandemic kind of made people be ok with moving out of the area, getting a big house and working remotely. Same thing is happening in NY and remote work out of Florida. Taxes n' shit factor in as well. House prices in California are pretty constant. Things may sell faster, but they aren't seeing the spike in prices that other states are getting. Rents are lower because of the pandemic too these days. Its a good time to move if you are a renter. People want big houses over location nowadays. You can get everything delivered, so you don't need to live in a hot city for access to cool furniture, clothes, etc. More ethnic restaurants pop up in the burbs too, so you can get that culture out there too. Movies and live entertainment are dead. Streaming apps keeps everyone up to date with the latest shows.
Many of the fires are the result of man. Forrest management or the homeless or utility companies who fuck up, who are allowed to live anywhere they want these days. The homeless cause a ton of fires and a bunch of problems.
The real estate prices have nothing to do with guys like Zuckerberg. The issue is 85+% directly related to the decisions and policies of the FED and Governmental Agencies. When mortgage interest rates are artificially pushed down to 2%-4% - that is what you'll see happening. If the banks had to keep the mortgages they make on their own balance sheets - they'd be much more cautious on the loans they make. We have seen a direct impact of the asset price inflation. The next stage that we're now entering will be significant commodity price inflation.
