Bidenflation and Shortage thread

[SeattleGriz]

Next will be that food shortages are transitory.

[houndawg]

Bahaha. Getting so bad, Dems are bringing in the evil gas executives to blame for the high prices.

I sure hope one of the gas executives points out like last time (to paraphrase), how they make .08 cents a gallon profit, while the Government adds .80 in taxes. So who is gouging the public?

Wipe your nose, sweetheart. You must be young that you don't remember we've been here before, and worse. I remember taking a mortgage at 10.5% - this ain't shit.

[SeattleGriz]

Bahaha. Getting so bad, Dems are bringing in the evil gas executives to blame for the high prices.

I sure hope one of the gas executives points out like last time (to paraphrase), how they make .08 cents a gallon profit, while the Government adds .80 in taxes. So who is gouging the public?

Wipe your nose, sweetheart. You must be young that you don't remember we've been here before, and worse. I remember taking a mortgage at 10.5% - this ain't shit.

Ha! Years ago when I got my first house mortgage, my mom was bitching to my dad that I had to get an 8% loan. My dad replied with, "don't you remember rates going to 18%?"

[GannonFan]

Wipe your nose, sweetheart. You must be young that you don't remember we've been here before, and worse. I remember taking a mortgage at 10.5% - this ain't shit.

Ha! Years ago when I got my first house mortgage, my mom was bitching to my dad that I had to get an 8% loan. My dad replied with, "don't you remember rates going to 18%?"

Yeah, my dad said 18% for his mortgage too. Gosh, I really hope we can return the stagflation of the '70's, that would be great.

[Winterborn]

Ha! Years ago when I got my first house mortgage, my mom was bitching to my dad that I had to get an 8% loan. My dad replied with, "don't you remember rates going to 18%?"

Yeah, my dad said 18% for his mortgage too. Gosh, I really hope we can return the stagflation of the '70's, that would be great.

[houndawg]

Ha! Years ago when I got my first house mortgage, my mom was bitching to my dad that I had to get an 8% loan. My dad replied with, "don't you remember rates going to 18%?"

Yeah, my dad said 18% for his mortgage too. Gosh, I really hope we can return the stagflation of the '70's, that would be great.

It won't be so bad if you don't have a mortgage

[GannonFan]

Yeah, my dad said 18% for his mortgage too. Gosh, I really hope we can return the stagflation of the '70's, that would be great.

It won't be so bad if you don't have a mortgage

Not bad for me, I'm locked in at 2.75% for my mortgage. Unfortunately for those looking for houses now, those aren't the rates and they don't have the cash to get a smaller or no mortgage. Rental rates are through the roof too so no relief there. If people could just get used to not having a home I'm sure we'd be all good.

[AZGrizFan]

Ha! Years ago when I got my first house mortgage, my mom was bitching to my dad that I had to get an 8% loan. My dad replied with, "don't you remember rates going to 18%?"

Yeah, my dad said 18% for his mortgage too. Gosh, I really hope we can return the stagflation of the '70's, that would be great.

We’re there. Negative GDP, runaway inflation. Fucking awesome.

[AZGrizFan]

It won't be so bad if you don't have a mortgage

Not bad for me, I'm locked in at 2.75% for my mortgage. Unfortunately for those looking for houses now, those aren't the rates and they don't have the cash to get a smaller or no mortgage. Rental rates are through the roof too so no relief there. If people could just get used to not having a home I'm sure we'd be all good.

Dems. Bitch on one hand about young people not being able to afford houses, and then drive the economy off a cliff to the point where rates are skyrocketing and they will NEVER be able to afford one now. Seriously, you can’t make this shit up.

[SDHornet]

Not bad for me, I'm locked in at 2.75% for my mortgage. Unfortunately for those looking for houses now, those aren't the rates and they don't have the cash to get a smaller or no mortgage. Rental rates are through the roof too so no relief there. If people could just get used to not having a home I'm sure we'd be all good.

Dems. Bitch on one hand about young people not being able to afford houses, and then drive the economy off a cliff to the point where rates are skyrocketing and they will NEVER be able to afford one now. Seriously, you can’t make this shit up.

So glad I locked in a 15 year note at 2.75 back in 2016.

[AZGrizFan]

Dems. Bitch on one hand about young people not being able to afford houses, and then drive the economy off a cliff to the point where rates are skyrocketing and they will NEVER be able to afford one now. Seriously, you can’t make this shit up.

So glad I locked in a 15 year note at 2.75 back in 2016.

You should have refinanced in 2021. 15-year rates were 2%.

[Winterborn]

I am happy I had mine locked in at 3.6% back in March.

[SDHornet]

So glad I locked in a 15 year note at 2.75 back in 2016.

You should have refinanced in 2021. 15-year rates were 2%.

Don't/didn't need another 15 year note.

[BDKJMU]

New all time high $4.37.
https://www.msn.com/en-us/money/markets ... NewsSearch

Edit. Nevermind, that is day old news. Now AAA now $4.40,
up 18 cents in the last week alone.

[Winterborn]

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.

The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March’s peak but was still close to the highest level since the summer of 1982.

Removing volatile food and energy prices, so-called core CPI still rose 6.2%, against expectations for a 6% gain, seemingly dashing hopes that inflation had peaked in March.

The price gains also meant that workers continued to lose ground. Real wages adjusted for inflation decreased 0.1% on the month despite a nominal increase of 0.3% in average hourly earnings. Over the past year, real earnings have dropped 2.6% even though average hourly earnings are up 5.5%.

https://www.cnbc.com/2022/05/11/cpi-april-2022.html

[HI54UNI]

Inflation rose again in April, continuing a climb that has pushed consumers to the brink and is threatening the economic expansion, the Bureau of Labor Statistics reported Wednesday.

The consumer price index, a broad-based measure of prices for goods and services, increased 8.3% from a year ago, higher than the Dow Jones estimate for an 8.1% gain. That represented a slight ease from March’s peak but was still close to the highest level since the summer of 1982.

Removing volatile food and energy prices, so-called core CPI still rose 6.2%, against expectations for a 6% gain, seemingly dashing hopes that inflation had peaked in March.

The price gains also meant that workers continued to lose ground. Real wages adjusted for inflation decreased 0.1% on the month despite a nominal increase of 0.3% in average hourly earnings. Over the past year, real earnings have dropped 2.6% even though average hourly earnings are up 5.5%.

https://www.cnbc.com/2022/05/11/cpi-april-2022.html

And the things that really matter to people -

"On a 12-month basis, energy costs were still up 30.3% while food rose 9.4%"

[GannonFan]

https://www.cnbc.com/2022/05/11/cpi-april-2022.html

And the things that really matter to people -

"On a 12-month basis, energy costs were still up 30.3% while food rose 9.4%"

They can say "slight ease" all they want, but this is yet again another crappy inflation number. This is why you don't let inflation out of the bag in the first place, because it's incredibly hard to fix once its there. The central bank and the Biden administration couldn't have done a worse job economically than they have. This is Carter-esque in terms of economic management, and even then that might be too harsh on Carter.

[BDKJMU]

Up almost 11% in the 16 months since Biden took office..

[BDKJMU]

Straight from the Bureau of Labor stats:

[BDKJMU]

Wholesale inflation climbs 11% in April, remaining near 40-year high
https://www.foxbusiness.com/economy/who ... april-2022

Meanwhile, Biden continues to blame Trump, Republicans, oil companies, the China Virus, Putin, and whatever else I left off..

[SDHornet]

Straight from the Bureau of Labor stats:

Rent only up 5%? I call bullshit.

[Baldy]

Bahaha. Getting so bad, Dems are bringing in the evil gas executives to blame for the high prices.

I sure hope one of the gas executives points out like last time (to paraphrase), how they make .08 cents a gallon profit, while the Government adds .80 in taxes. So who is gouging the public?

Wipe your nose, sweetheart. You must be young that you don't remember we've been here before, and worse. I remember taking a mortgage at 10.5% - this ain't shit.

Yeah, and I remember there was another Donk in the White House at that time too.
Strange coincidence.

[houndawg]

Wipe your nose, sweetheart. You must be young that you don't remember we've been here before, and worse. I remember taking a mortgage at 10.5% - this ain't shit.

Yeah, and I remember there was another Donk in the White House at that time too.
Strange coincidence.

Gerald Ford - Whip Inflation Now

I give it a gentleman's "C"

[AZGrizFan]

Yeah, and I remember there was another Donk in the White House at that time too.
Strange coincidence.

Gerald Ford - Whip Inflation Now

I give it a gentleman's "C"

Classic Donk deflection. Blame the guy who was in the seat for less than 2 years, not the guy who literally fucked up everything he touched between 1976 and 1980.

[houndawg]

Gerald Ford - Whip Inflation Now

I give it a gentleman's "C"

Classic Donk deflection. Blame the guy who was in the seat for less than 2 years, not the guy who literally fucked up everything he touched between 1976 and 1980.

...wrong, as, evidently, is your custom.


I know, I know, you were in diapers while the Republicans showed us how to deal with inflation during the early-70s recession but you'd think a guy involved in banking would have a better feel for the historical record of something so important to his vocation. Nobody was happier that Jimmy Carter won in '76 than Gerald Ford.