Gas prices

[Ms.Minnie]

xdan0920 & Robbie Cottam, you are both hitting the nail on the head! Well done.

 

[Robbie Cottam]

xdan0920 & Robbie Cottam, you are both hitting the nail on the head! Well done.

Thanks,
At first I was beating around the bush trying not to get the thread closed for be political, but I guess that was confusing.

 

[Ms.Minnie]

Thanks,
At first I was beating around the bush trying not to get the thread closed for be political, but I guess that was confusing.

Maybe to those who don't get it.

 

[DeeBee3]

Um no. The economy is exploding around here. The best thing we could have is letting some air out of the balloon. When you have people paying $80m an acre for residentially zoned property you have insanity.

Where do you live? I know some areas of the country are doing better than others, but we are definitely in a recession on a national level. The report just out today said inflation for April was 8.3%. From the report: "Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living."

I'm no economist, but I pay attention every day. I just went grocery shopping and it was actually $2.50 for a can of Campbell's chicken rice soup. Absurd. Most people can't go on like that.

Not to mention the baby formula shortage. Saw a woman in front of me walk out when they didn't have what she needed.

 

[MillauFr]

Where do you live? I know some areas of the country are doing better than others, but we are definitely in a recession on a national level. The report just out today said inflation for April was 8.3%. From the report: "Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living."

I'm no economist, but I pay attention every day. I just went grocery shopping and it was actually $2.50 for a can of Campbell's chicken rice soup. Absurd. Most people can't go on like that.

Not to mention the baby formula shortage. Saw a woman in front of me walk out when they didn't have what she needed.

Seattle. The economy is out of control. Way too much money sloshing around. Developers paid $7.8m for a 0.09 acre lot. Amazon has close to 10,000 job openings in the city they can't fill. Tower cranes all over the place. I just tried to fill a job for a civil engineer paying close to $70 an hour and got zero applicants. Zero. I thought that was good money but I guess not.

We need a good recession to reset things here.

 

[DCLMP]

I've been reading that wage inflation has crept out of the lower income quartile on up to higher paying jobs, so this doesn't surprise me. If that trend continues it's troubling, because it's much tougher to get inflation out of the system once it creeps further up the chain with wages.

It does really feel like we're coming to the end of a very speculative bubble though....the end, or at least a pretty long break from this super cheap money period. That part of it at least, reminds me of the dot.com bubble bursting and how the nasdaq topped 5,000 in the spring of 2000, and then collapsed....and didn't hit 5,000 again for *15* years. Hoping we don't see anything like that slaughter. But it's comical how a year ago, all investors cared about was "users", "subscribers", "deliveries per quarter".....and now.....we only care about profits. It's the same dance every time.

The Fed has an impossible job now....keeping unemployment low....and inflation low. And then there's the third unspoken job....keeping the markets happy. And the fourth whispered job...don't let the housing market implode. They're going to have to raise continue to raise rates to get us out of this mess, more than they're forecasting. We're going to have to endure some pain.

Things are going to be much worse than we have ever seen. Maybe when things are said and done we'll be in a better place 10-15 years from now.

 

[DCLMP]

Where do you live? I know some areas of the country are doing better than others, but we are definitely in a recession on a national level. The report just out today said inflation for April was 8.3%. From the report: "Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living."

I'm no economist, but I pay attention every day. I just went grocery shopping and it was actually $2.50 for a can of Campbell's chicken rice soup. Absurd. Most people can't go on like that.

Not to mention the baby formula shortage. Saw a woman in front of me walk out when they didn't have what she needed.

Inflation is higher than the fake numbers they put out.

 

[DCLMP]

We don't need price controls. We need oil production. The market will correct itself.

Not going to happen. Not part of the plan.

 

[DeeBee3]

Seattle. The economy is out of control. Way too much money sloshing around. Developers paid $7.8m for a 0.09 acre lot. Amazon has close to 10,000 job openings in the city they can't fill. Tower cranes all over the place. I just tried to fill a job for a civil engineer paying close to $70 an hour and got zero applicants. Zero. I thought that was good money but I guess not.

We need a good recession to reset things here.

Yes, the job market is very odd right now. I'm in NY - same issue with filling jobs - but prices are out of control and lots of people moving out. However, that's been happening for years. Taxes are just too much and you don't get much in return.

 

[xipotec]

Th

Having just shopped at Aldi's, seeing the price increases there and at my Safeway, well, gas prices at the pump are becoming way less of a worry than food prices in the store...it's unbelievable this month how much food has skyrocketed...67-100% increases on many products from Apr 1 to Apr 29...

Dozen donuts $6 to $10 (Safeway)
Dozen bagels $6 to $10 (Safeway)
Dozen eggs $.84 to $1.99 (Aldi's)
Gallon of spring water $.50 to $.89 (Aldi's)

I could keep going line by line, but these were the most annoying this week...and even more annoying was the Aldi's guy saying that some price increases are in the register, but not yet on the store rack, so I had 7 products more expensive than I thought...

This is actually illegal. You should report this to the state.

 

[DCLMP]

Th

This is actually illegal. You should report this to the state.

Why is that illegal? That sounds about right from what I've seen.

 

[xipotec]

Why is that illegal? That sounds about right from what I've seen.

It is illegal for a grocery store to have tagged prices that differ from the ring up.

If they exceed a certain number of tags that are incorrect they will be fined

 

[Robbie Cottam]

Not going to happen. Not part of the plan.

And that is the problem!

 

[DCLMP]

Where do you live? I know some areas of the country are doing better than others, but we are definitely in a recession on a national level. The report just out today said inflation for April was 8.3%. From the report: "Inflation-adjusted earnings continued to decline for workers, falling 2.6% over the past year due to the surging cost of living."

I'm no economist, but I pay attention every day. I just went grocery shopping and it was actually $2.50 for a can of Campbell's chicken rice soup. Absurd. Most people can't go on like that.

Not to mention the baby formula shortage. Saw a woman in front of me walk out when they didn't have what she needed.

I would not want to be living in any inner city over the next couple of years.

 

[DCLMP]

It is illegal for a grocery store to have tagged prices that differ from the ring up.

If they exceed a certain number of tags that are incorrect they will be fined

I didn't read anywhere in their post where they said the ring-up price was different than the tag price. They were posting the price increases from April 1 to April 29.

 

[TLSnell1981]

Aren't you the aviation expert guy? I never would have pegged you as a price controls guy....more of a free market guy . I don't know....right now, any kind of tax cut, gas rebate, price control, student loan forgiveness....any of it, just adds or keeps excess money sloshing around in our economy, which is how we got here in the first place right? It's just lipstick on a pig. And when we look at the extra money sloshing around and consider that supply chains are still very challenged we're still in trouble. Things have to cool off enough to depress demand until supply catches up. Whether that means a big slowdown or a recession remains to be seen.

Nothing is free. We will continue on this road unless/until we stop throwing money at the problem. "It's like deja vu all over again.' I hear the 70's knocking at the door and not the fun part!

 

[DeeBee3]

I would not want to be living in any inner city over the next couple of years.

I'm not even in a city and the prices are insane. Can't imagine what people pay in Manhattan.

 

[xipotec]

I didn't read anywhere in their post where they said the ring-up price was different than the tag price. They were posting the price increases from April 1 to April 29.

“ and even more annoying was the Aldi's guy saying that some price increases are in the register, but not yet on the store rack, so I had 7 products more expensive than I thought...”

 

[dvcgirl67]

Nothing is free. We will continue on this road unless/until we stop throwing money at the problem. "It's like deja vu all over again.' I hear the 70's knocking at the door and not the fun part!

Agree…not time for stimulus, nor is it time for tax cuts or rebates. We need a cooling off period. The only way to get to the other side is to go through it

I was hopeful last year that supply chains would catch up…and that we’d avoid this period. Unfortunately that didn’t happen and the Russian invasion of Ukraine only made the energy situation worse. It looks like we’re in for higher inflation than we’re accustomed to for some time.

 

[WhatDinosaur]

Seattle. The economy is out of control. Way too much money sloshing around. Developers paid $7.8m for a 0.09 acre lot. Amazon has close to 10,000 job openings in the city they can't fill. Tower cranes all over the place. I just tried to fill a job for a civil engineer paying close to $70 an hour and got zero applicants. Zero. I thought that was good money but I guess not.

We need a good recession to reset things here.

Things can slow down without a recession. It’s pretty gross to want a recession that will hurt a lot of people, and hurt most those that can least afford it.