topic Re: Crazy Prices On Lots of Things in Community Chat

Crazy Prices On Lots of Things

Sooner — Tue, 05 Mar 2024 14:46:15 GMT

I think inflation is here to stay. Pretty soon "less" really be "more."

Re: Crazy Prices On Lots of Things

SilleeMee — Tue, 05 Mar 2024 14:48:41 GMT

Sometimes I think I should buy my things today b/c if I wait then the prices will be higher tomorrow, no doubt.

Re: Crazy Prices On Lots of Things

Still Raining — Tue, 05 Mar 2024 14:57:53 GMT

Inflation has been around since I remember. Just goes up and down.

Back in 1975 the starting salary for a big 8 firm was $12,000. That allowed for a new car and a starter house.

Re: Crazy Prices On Lots of Things

They CallMe MRWILKES — Tue, 05 Mar 2024 15:11:34 GMT

Inflation is an economic norm and has occurred in virtually every year since the inception of the CPI. That's why The Fed targets a "normal" inflation rate, a sign of a healthy economy.

The key is the rate of price increase, which in some years has been only 1-2%, but recently has been historically high. Some people just haven't experienced these high growth rates before.

The last period of prolonged deflation was 1930-1933, The Great Depression. Deflation and severe price declines create and feed into a prolonged economic contraction.

Corporations fail and jobs are lost if consumer prices can't sustain a business and job creation.

Re: Crazy Prices On Lots of Things

beckyb1012 — Tue, 05 Mar 2024 15:04:59 GMT

I am still waiting for the prices of gasoline that went up across the country when Hurricane Katerina hit. Once it goes up that is it.

Re: Crazy Prices On Lots of Things

RetRN — Tue, 05 Mar 2024 15:06:22 GMT

@SilleeMee wrote:
Sometimes I think I should buy my things today b/c if I wait then the prices will be higher tomorrow, no doubt.

So true. I think the same thing. Pretty tough being middle class nowadays.

Re: Crazy Prices On Lots of Things

Imaoldhippie — Tue, 05 Mar 2024 15:11:29 GMT

IMHO it will go down, but never to what it was before.

Re: Crazy Prices On Lots of Things

granddi — Tue, 05 Mar 2024 15:52:29 GMT

This period of inflation is baffling economists because this time it has not acted as predicted. Raising interest rates was supposed to calm the jobs market and consumer demand but it has not worked as history said.

One thing for sure corporate profits are up, up, up.

Anymore its impossible to have a sense about what is fair pricing. We had a fence washed and restained. First bid was $2300.00, next was $1500.00 and we got it done for $900.00

There is nothing we can do about greed. As long as demand is high and supplies are low then prices will stay high.

Re: Crazy Prices On Lots of Things

Sooner — Tue, 05 Mar 2024 16:03:25 GMT

@They CallMe MRWILKES It isn't really the norm, but it is much more prounounced and frequent depending on the economic policies in play and sometimes situations such as when the US falls behind on fuel production and foriegn suppliers play with availability and pricing.

Re: Crazy Prices On Lots of Things

They CallMe MRWILKES — Tue, 05 Mar 2024 16:12:05 GMT

Since 1914 there have been only 14 years when an annual CPI decline occurred.

So I say yes, a positive inflation rate is indeed the historical norm.

Re: Crazy Prices On Lots of Things

bikerbabe — Tue, 05 Mar 2024 16:29:42 GMT

Some of the biggest corporations that control much of the economy are making record profits.

Just sayin’.

Re: Crazy Prices On Lots of Things

PickyPicky3 — Tue, 05 Mar 2024 16:32:17 GMT

Funny memory:

I taught English in Brazil in the late 60s. In the years prior, severe inflation caused a complete change of currency. So there were three kinds of bills: the old money, old money stamped with an upgrade to the new money, and the new money, which was a different size and color.

Suddenly you needed a wallet with three sections to store the three kinds of bills separately.

Inflation was painful to the Brazilian populace but certainly a boon to the wallet manufacturers.

Re: Crazy Prices On Lots of Things

skatting44 — Tue, 05 Mar 2024 16:51:09 GMT

Only can expect prices to go up . The shipping of items to avoid what's going on in the Red Sea does not help along with price of oil .

Re: Crazy Prices On Lots of Things

They CallMe MRWILKES — Tue, 05 Mar 2024 16:55:52 GMT

Hyperinflation in Weimar pre-World War II Germany.

Going to the grocery store. Some places resorted to weighing paper currency rather than count it.

Re: Crazy Prices On Lots of Things

Lakelife62 — Tue, 05 Mar 2024 16:58:54 GMT

@Sooner wrote:
@They CallMe MRWILKES It isn't really the norm, but it is much more prounounced and frequent depending on the economic policies in play and sometimes situations such as when the US falls behind on fuel production and foriegn suppliers play with availability and pricing.

Domestic fuel production is the highest it has ever been in history.

Gas here is under $3.00.

Inflation is down from 7% post Covid to 3/1%. Needs to be lower for sure, but economic indicators are pretty good.

Plus the Dow is at 39,000.

I'll take it!

Re: Crazy Prices On Lots of Things

Sooner — Tue, 05 Mar 2024 17:01:54 GMT

@They CallMe MRWILKES wrote:
Since 1914 there have been only 14 years when an annual CPI decline occurred.

So I say yes, a positive inflation rate is indeed the historical norm.

@They CallMe MRWILKES Well, in recent history, post WWII times, I'd look back to the 1980's and the oil embargo times for a better perspective on modern policy and world issues. You can sort of look at where inflationary times are concentrated for a better picture.

Re: Crazy Prices On Lots of Things

CelticCrafter — Tue, 05 Mar 2024 17:04:06 GMT

@SilleeMee wrote:
Sometimes I think I should buy my things today b/c if I wait then the prices will be higher tomorrow, no doubt.

@SilleeMee we do for non-perishables when they go on sale.

Re: Crazy Prices On Lots of Things

They CallMe MRWILKES — Tue, 05 Mar 2024 17:11:15 GMT

Since 1946 there are only 4 years of annualized CPI declines.

So I would most assuredly say yes, inflation and price increases are absolutely the norm post World War II.

Re: Crazy Prices On Lots of Things

Still Raining — Tue, 05 Mar 2024 17:26:28 GMT

Idle hands here. Waiting to hear how much it costs to replace the senor inside the tire. Enter your bids!

There is a live map thingy where you can see ships, named, transiting the canal and lakes. They also publish a schedule. Wait times too. Red going south and blue going north 🤣

Re: Crazy Prices On Lots of Things

threecees — Tue, 05 Mar 2024 17:30:45 GMT

I miss the good ole days when the Dollar Store was only a dollar!