Biggest monthly rise in the core CPI in 40 years. Hey I got an idea - let’s print more money!4.2% inflation in April.....buckle up boys.
Biggest monthly rise in the core CPI in 40 years. Hey I got an idea - let’s print more money!4.2% inflation in April.....buckle up boys.
Yep and we're only 4 months in. Jeez what a disaster this is gonna beStarting to feel like the 70’s isn’t it? Long gas lines, shortages, high gas prices, highest increase in inflation in 12 years, rising crime rates, an ineffective President who appears feeble and out of touch...
That’s Joe’s main schtick , handouts. What will he do if he stops them?Biggest monthly rise in the core CPI in 40 years. Hey I got an idea - let’s print more money!
We already tried that in 2020 during the "most on fire economy the country's ever seen" and you're seeing the effects real time, today:Biggest monthly rise in the core CPI in 40 years. Hey I got an idea - let’s print more money!
jobarules said:Yep and we're only 4 months in. Jeez what a disaster this is gonna be
Is this for real?The current issue for everyone is the price of food. You can do workarounds for other things, but you need to eat. Your kids need to eat.
Years and years ago, there was a thread on investments in the FFA, and I said everyone should have a 6 month stockpile of food stored, with several weeks of water ( but more to point, some consistent way to purify water instead depending on space)
I also talked about building a garden, even for those in small spaces, like micro greens, or doing what I did years ago, which is get into beekeeping ( not all that easy, but rewarding)
Not everyone has the space to put together a small emergency cache, but they should to their means. Of course back then, in the FFA, I was personally attacked, mocked, laughed at and called a nutty survivalist type. None of those mouthbreathers are laughing now.
Seems like everything costs so much these days. The high prices are going to slow the economy. For example, I was going to finish my basement this summer but that is not happening with the price of lumber. I’m going to hold onto that money to spend on food, fuel, and necessities. Have to figure other folks are going tho make similar decisions.jobarules said:Yep and we're only 4 months in. Jeez what a disaster this is gonna be
So, how do things work in your mind?In his mind, yes.
Americans are some of the fattest, wealthiest people in the world. We aren’t going to be starving anytime soon.So, how do things work in your mind?
Historically, when countries have simply printed money it leads to periods of rising prices — there's too many resources chasing too few goods. Often, this means every day goods become unaffordable for ordinary citizens as the wages they earn quickly become worthless
Anyone ever tell you that nothing is free?I walked to the bank today to deposit a $400 check I received for owing federal loans that I plan to never pay back. Setup on the sidewalk at a shaded table, a friendly lady offered me a free phone and free unlimited plan, if only I had a qualifying benefits card. Luckily, I signed up for Medicaid last month. I filled out an online form and said I don't expect to earn money this year. A few days later, I received a packet with benefits card and voter registration in the mail. Now I have free health insurance, dental, and vision. It's gonna take some extreme circumstances for us poors to go homeless. Besides, if a situation like that developed, the poors might band together and move into your house.
Yet many there are many folks here saying we need a UBI and we need to raise minimum wage?Americans are some of the fattest, wealthiest people in the world. We aren’t going to be starving anytime soon.
How wealthy do we remain when our money is worthless?Americans are some of the fattest, wealthiest people in the world. We aren’t going to be starving anytime soon.
There’s a big difference between starving and living comfortably.Yet many there are many folks here saying we need a UBI and we need to raise minimum wage?
Also, I know this is the inflation thread but there are very real potentials for emergency/disaster related shortages. It will happen, not sure when, where and for how long.
I needn't worry about money becoming useless because I'm surviving on benefits cards. Should the plastic stop working, I might resort to stealing from GG's garden.Anyone ever tell you that nothing is free?
Believe me...that phone company will get paid along with the hospitals and doctors that you use on your "free" health plan.
Someone is paying for this.
So tell me, what happens when the money becomes useless?.
Do you have ANY idea exactly what backs those benefit cards?I needn't worry about money becoming useless because I'm surviving on benefits cards. Should the plastic stop working, I might resort to stealing from GG's garden.
We may no be longer be the greatest economy in the world, but we’ll still be among the wealthiest places on the planet for the foreseeable future.How wealthy do we remain when our money is worthless?
Seeing as how being the greatest economy in world and being the wealthiest place on the planet is all based on the purchasing power of the US dollar....if things keep going the way of the past four months, I can just about guarantee that we will lose both.We may no be longer be the greatest economy in the world, but we’ll still be among the wealthiest places on the planet for the foreseeable future.
Do you agree with Gecko’s sense of impending doom? Have you food/water/supplies to survive the impending crisis?
Sure it’s possible. But highly unlikely IMO. Care to venture a guess when the US approximates the economies of Greece and Venezuela?Seeing as how being the greatest economy in world and being the wealthiest place on the planet is all based on the purchasing power of the US dollar....if things keep going the way of the past four months, I can just about guarantee that we will lose both.
And not having both...you will see a drastic change in the way things were.
In 1999, Argentina went #### up. The most basic systems and institutions that people had come to depend on simply disappeared. Power companies stopped operating, the police stopped working, gas stations closed, grocery stores ran out of food, postal workers stopped delivering mail, retirement checks stopped coming, and banks closed their doors with bankers fleeing the country, taking people’s life savings with them.
When Greece defaulted in 2012, bondholders were forced to take hits as high as 50%.
In less severe cases, countries may choose to restructure their debt by requesting more time to pay. In our case, it would mean requesting favors from China who would basically, have their foot on our throat.
Ahhh...but that could NEVER happen here!
I am sure that many Romans thought the same thing.
Those who do not learn from history....
Just my kids' or grandkids' lifetimes?Terminalxylem said:Sure it’s possible. But highly unlikely IMO. Care to venture a guess when the US approximates the economies of Greece and Venezuela?
I’ll go with...not in our lifetimes.
A lot can change between now and then...but that doesn’t really promote stockpiling stuff now, does it?Just my kids' or grandkids' lifetimes?
I'll let them know
I am sure they'll appreciate what we did for them.
I'm sure that there were Romans who compared their situation to that of lesser city-states of the time.
The problem with inflation is it's kind of like opening Pandora's Box. It's awfully hard to slow it down if it accelerates.Opie said:So, how do things work in your mind?
Historically, when countries have simply printed money it leads to periods of rising prices — there's too many resources chasing too few goods. Often, this means every day goods become unaffordable for ordinary citizens as the wages they earn quickly become worthless
It's kind of like global warming, change occurs over time from your actions today.A lot can change between now and then...but that doesn’t really promote stockpiling stuff now, does it?
Great comparison. I think climate change poses much more of an existential threat to future generations than catastrophic inflation/economic collapse. And both can be mitigated by shifting away from consumerism and promoting sustainability.It's kind of like global warming, change occurs over time from your actions today.
I've moved a lot of money into inflation hedges, we will see. I'd be happy to be wrong and not make a penny on them so that other assets and our greater economy is doing better. My analogy is kind of along the lines of inflation being a train that's hard to stop once it starts rolling down the track. I don't think it's so easy to slow down as making a few changes.Great comparison. I think climate change poses much more of an existential threat to future generations than catastrophic inflation/economic collapse. And both can be mitigated by shifting away from consumerism and promoting sustainability.
Still, I see no need to stockpile food and supplies, nor am I worried about Americans starving en masse for the foreseeable future.
I did the same along with gold & silver. I just don't see how printing zillions of dollars doesn't have a major impact on the value of the dollar. Hope I'm wrong because we all benefit then.I've moved a lot of money into inflation hedges, we will see. I'd be happy to be wrong and not make a penny on them so that other assets and our greater economy is doing better. My analogy is kind of along the lines of inflation being a train that's hard to stop once it starts rolling down the track. I don't think it's so easy to slow down as making a few changes.
Is this for real?
Caveman33 said:I needn't worry about money becoming useless because I'm surviving on benefits cards. Should the plastic stop working, I might resort to stealing from GG's garden.
"People" are already starving now. How many additional people do you think will starve in the next year? Will I be one of them? You have an abundance of confidence, I'm really eager to learn more.Opie is right. People are going to starve and die and most of you won't even see it coming.
You shouldn't be too concerned about climate change....because you can't do anything about it.Great comparison. I think climate change poses much more of an existential threat to future generations than catastrophic inflation/economic collapse. And both can be mitigated by shifting away from consumerism and promoting sustainability.
Still, I see no need to stockpile food and supplies, nor am I worried about Americans starving en masse for the foreseeable future.
"People" are already starving now. How many additional people do you think will starve in the next year? Will I be one of them? You have an abundance of confidence, I'm really eager to learn more.
I have literally no clue what you are talking about. And you didn’t answer my question.Test it out.
Spend 30 days without food through normal access. Meaning you can't buy groceries, you can't eat food you have stored at home, you can't spend money to go out to eat. You can't borrow food from a neighbor or eat from work or steal food from the store.
You are allowed water and the ability to use your stove top and microwave.
Just eat what you can forage and find and what people have left behind. And do this keeping in mind that this is America. Over 40 percent of all food produced in a chain restaurant is thrown away. Grocery stores literally throw out tons of food from their deli the day before in the morning. As well as baked goods and produce. Places like Brazil, these access points are already picked clean.
How are you going to get Vitamin C? Maybe you can find part of a leftover drink on a mall outdoor table. Maybe you can boil some pinecones or other things you can forage from leaves and trees ( i.e. Nettle Tea)
If you haven't eaten for four days straight, a half eaten Taco bell burrito looks pretty damn good that's been abandoned on a park bench.
Try it. Cut off nearly all your access points for food and see how it goes. And do it remembering it's just 30 days. Some people have to endure it as the new normal.
Spend some hungry nights stringed together in a row and then I suspect your view on food and the impact of food insecurity and people starving around the world and the US will all start to ring differently.
In North Korea, in some places, people have resorted to cannibalism.
During WW2, during the Siege Of Stalingrad, people ate the wallpaper. It was attached to the wall with a thick wheat paste. They tore shoes up and ate the boot leather. They killed all the dogs and cats and rats and ate all the weeds and grass they could fine. They ate tree bark.
If you eat out of a garbage can for 30 days, you'll still be doing better than most of the world and most of everyone in all of human history.
If you are truly "eager to learn more" then that's how. Become food insecure yourself for a while. You wanted to speak up, now step up.
"People" are already starving now. How many additional people do you think will starve in the next year? Will I be one of them? You have an abundance of confidence, I'm really eager to learn more.
Who is laughing about people starving? Serious question. I guess I'm just oblivious -- haven't noticed anyone laughing about that.There are actually a couple of people in this thread openly laughing about people starving. That's incomprehensible. Disgusting. Repugnant. Low value. Dishonorable. Who does that?
Nobody is laughing. Some of us are dismissing the prospects of apocalyptic starvation in the US, and the utility of stockpiling food and sundries.Who is laughing about people starving? Serious question. I guess I'm just oblivious -- haven't noticed anyone laughing about that.
I didn't laugh at starvation, I laughed at Terminal's wit. You could be correct about there being increasing issues with food and basic living in the next couple decades but I feel you are using too much hyperbole. I can't comment on the unfortunate situations some poorer countries are in, but an estimated 54 million Americans are food insecure? I'd like to see how they arrived at this number. I don't doubt that people are making terrible food choices and depriving their bodies of proper nutrition, but are people actually starving in America? My anecdote about all the free benefits I recently received is true, and among the welcome packet I received was information about SNAP and other food benefits. I have some money in the bank, but I was honest about my expectations for this year's income and apparently that was enough to open up all these benefits for me. How are people involuntarily starving in a society with all these safety nets?VIDEO: The US Is Facing Its Worst Hunger Crisis in Generations •Dec 15, 2020 VICE News
The coronavirus pandemic is causing an estimated 54 million Americans to be food insecure. We visit a family in Denver struggling with food insecurity.
https://www.youtube.com/watch?v=p2MoB27rAbY
VIDEO: Millions go hungry in Brazil as pandemic exacerbates poverty •Apr 4, 2021 Al Jazeera English
The pandemic has left many of Brazil's poorest citizens relying on food handouts to survive. A survey found more than 80 percent of people living in slums depend on donations to feed their families.
https://www.youtube.com/watch?v=XjjQ67w8JiQ
VIDEO: Yemen facing world’s “worst famine in decades” - BBC News •Feb 23, 2021 BBC News
Yemen is at risk of the worst famine the world has seen in decades according to the United Nations.
https://www.youtube.com/watch?v=-LGLlY2ZjWU
VIDEO: Zimbabwe's food crisis: About 60% of population faces starvation •Oct 9, 2020 Al Jazeera English
Millions of people in Zimbabwe could be left without any food if there is no help by December, the United Nations says. It says the problem has been caused by recurring droughts and an economic crisis, and the coronavirus pandemic has made things worse. Al Jazeera's Haru Mutasa reports from Mashonaland West province, where impoverished communities are most affected.
https://www.youtube.com/watch?v=4RR915WVLMc
******
Did you enjoy your laugh?
Core inflation does not account for the volatility of the food market. We could go into extensive debate over the way CPI and PCE have their numbers cooked, but let's see the obvious
You can't print this much money in this short amount of time while shutting down the economy.
Lots of people are starving. Lots of Americans are starving. Lots of American children are starving. Inflation impacts food prices which impacts all of this. Food banks actually use money from donations to buy food when physical food donations start to trickle down. As more people are food insecure, fewer physical donations come in and more purchases need to be made. With a tanked economy and shut downs, fewer people donate money. Less physical food donations, less monetary donations and the cost increase of food in general while facing more and more people who rely on places like food banks to feed their kids. Do you not see how this bubble is going to pop over the long term? And this is just America. This is not counting the rest of the world.
Why in the entire world would you laugh about people starving? It's your free speech but what kind of person does that?
The arguments don't even change a little bit any more...just the "side" making them. All failing to realize "two sides....same coin".The right only worries about spending, inflation, etc. when there is a Democrat in the White House. Same is true of the left when a Republican is president.
It almost seems like they are rooting for bad economic news to happen so they can blame the other side. The funny thing is that in many cases the president has little or no effect on this stuff.
Republican FBGers: no need to reply that liberal FBGers were blaming everything on Trump. I know that is true, just like when Obama was in office and Bush before him. I've been here for almost 20 years and have seen the cycle repeat over and over again.
Been on that train for a decade, at least. It's been a long ride.I'm glad people are NOW concerned with the printing of money! Where were you a year ago!?!?!?! Glad to have you on board, even if for just a little while.![]()
Good...that's two of usBeen on that train for a decade, at least. It's been a long ride.
Jumping on 50 miles before the train hits Vladivostok.Good...that's two of us![]()
Looks like we have some short term passengers as well.
Many people would have told them to save it for someone who needs it.Yesterday I walked by a church where some nice ladies were handing out free lunches. They asked me how many I wanted and I gladly accepted one. It's a free world, you just have to reach out and grab it.
Exactly what my roommate said. But I walk/bike everywhere and eat everything that is put before me. Many people are rolling up in cars to collect these lunches. I see lunch boxes littered on the side of the road after they've been picked through. So who really needs it more?Many people would have told them to save it for someone who needs it.
didn't like it when Trump did it don't like it when Biden does. I've said as much, but Biden, not surprising is taking it to a new level.The arguments don't even change a little bit any more...just the "side" making them. All failing to realize "two sides....same coin".