News lately RE: Inflation at new highs. What are your thoughts? Thank you in advance.

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Arcticdude

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Hi guys:

If you've seen the news lately, then you've probably heard about the drastic increase in inflation.

What are your thoughts? Or . . . maybe I should clarify: What are your thoughts besides "I told you so."

Thank you in advance.
Now isn't a good time to ask me. I just sold a bunch of bred registered cows for 80 cents a pound today. And yet prices continue going up in the stores.
2 days ago I picked up 600 board feet of 1×12's. Paid $1500 for it. Even though lumber prices have dropped 40%. Just not retail.
 

Kevin L

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Now isn't a good time to ask me. I just sold a bunch of bred registered cows for 80 cents a pound today. And yet prices continue going up in the stores.
2 days ago I picked up 600 board feet of 1×12's. Paid $1500 for it. Even though lumber prices have dropped 40%. Just not retail.
I understand. I hope it gets better.
 

Brent S

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I am fortunate enough to be able to afford food but I’ve noticed the cost of small grocery runs have gone up a lot in the last year. Not just groceries but everything across the board. All I know for sure is now is a good time to get your financial things in order. Budgets really help get a perspective on spending and priorities. Being more efficient with your dollars now is more important than ever.
 

Kevin L

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I am fortunate enough to be able to afford food but I’ve noticed the cost of small grocery runs have gone up a lot in the last year. Not just groceries but everything across the board. All I know for sure is now is a good time to get your financial things in order. Budgets really help get a perspective on spending and priorities. Being more efficient with your dollars now is more important than ever.
I agree.

I just hope that we don't turn into another Zimbabwe . . . where a trillion dollars might buy you a beer . . . and this still wasn't enough to leave a decent tip.
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MOS0231

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As other have noted, we are already seeing inflation at the stores. That is reducing your purchasing power. Right here. Right now. You are spending more for the same product, but this is not normal y-o-y inflation that is expected. This is significantly higher.
While the WH and some pundits claim this is nothing to worry about, those of us in the real world are feeling it.
While maybe not Zimbabwe, I do expect it to get worse.
 

Kevin L

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As other have noted, we are already seeing inflation at the stores. That is reducing your purchasing power. Right here. Right now. You are spending more for the same product, but this is not normal y-o-y inflation that is expected. This is significantly higher.
While the WH and some pundits claim this is nothing to worry about, those of us in the real world are feeling it.
While maybe not Zimbabwe, I do expect it to get worse.
I agree.
 

Acdoctor

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true, I’m in the heating and air trade. Just since January 9th we have had three price increases for a total of 21%. Flat 26ga. Sheet metal has gone up 34% , a 3x8 26ga sheet now cost me $31.00 pre Biden I could catch it on sale for 13.00-18.00. Thank you to all the Biden supporters, just remember not to complain when a new system cost you $12,000.00 , y’all thought joe and his ho , was the way to go.
 

Brent S

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true, I’m in the heating and air trade. Just since January 9th we have had three price increases for a total of 21%. Flat 26ga. Sheet metal has gone up 34% , a 3x8 26ga sheet now cost me $31.00 pre Biden I could catch it on sale for 13.00-18.00. Thank you to all the Biden supporters, just remember not to complain when a new system cost you $12,000.00 , y’all thought joe and his ho , was the way to go.
I don’t thing Biden’s insane spending is helping at all by any means but I believe this was a storm coming reguardless of politics. The overspending for decades was bound to catch up sooner or later. I don’t think this will be just an economic impact here in the states but will likely be a worldwide downturn. As Arctic and I have both said, the best thing anyone can do is start with eliminating debt. That alone is worth more than considering investments right now.
 

Arcticdude

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Gas at Shell is $2.87 a gallon.
We're at $3.74 for regular unleaded and $4.42 for premium without ethanol. Just bought 250 gallons of off road diesel, dont remember what I paid other than it was a lot more than a year ago. These high fuel prices will raise prices on EVERYTHING.
Thanks again Biden voters. I hope your happy with your choice. It must be nice to be rich and not care about prices.
 

Amish Heart

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Yikes that's high. We were in Denver the first part of the week and it was almost $4 a gallon, but $2.86 here today. Some of these states are adding a stupid amount in gas tax for their green programs. Doubt that it goes there, probably ends up as the "green dollar bills" in the politicians pockets.
 

Dracos

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It is great to not have any debt. A dollar not spent on interest is a dollar earned. If only governments would realize this. Instead of borrowing trillions more, some effort should be made to "retire" some debt.
 

Kevin L

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I have been pretty lucky with my debt.

I once went without a car for over 2 years, and all money that normally would have gone to gas, repairs, car insurance, and so on . . . went to my debts.

I also got in serious shape because I adopted a bicycle lifestyle. I had more energy, my bloodwork was great, I could eat whatever I wanted . . . and sex was a lot better. I was also more productive at work.

I--in a sense--screwed myself over when I wnt back to using a car.
 

Brent S

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It is great to not have any debt. A dollar not spent on interest is a dollar earned. If only governments would realize this. Instead of borrowing trillions more, some effort should be made to "retire" some debt.
I’m surprised they aren’t touting borrowing more to pay off the current debts! Oh, wait, they have been for decades…..
 

Danil54grl

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@Kevin L The best advise I can tell you is if you have any debt right now, pay it off as soon as you can. We as a country are not going to get any better with this current administration. We are just screwed right now. Biden wants to put illegals and other countries before the American citizens. That is a fact! Stock up what you can when it comes to food, water, materials for what are common "fixes" for mechanics and home, and expand on your foraging skills. You live in a good community where there are multiple sources of food and water so that is good. My biggest worry for you is that you rent and dont own right now.
 

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