I'm surprised there's not an inflation thread yet
POSTED BY: 6IXSTRINGJACK
UPDATED: Thursday, June 11, 2026 17:04
VIEWED: 37356
PAGE 36 of 84
Quote:
Originally posted by second:Quote:The sole purpose of inflation is to discover how much money you have and take all of it. There are actual people deciding what prices will be and the criteria for their decisions are what is best for the decision maker. Now is always the time to buy, unless the food is seasonal with a time for lowest prices when the harvest arrives.
Originally posted by 6IXSTRINGJACK:
Well... for the first time I'm seeing a not insignificant bump in food prices on things that I buy.
The only question is do I restock things I don't need now at these prices or wait and hope that prices come down before I need them?
That makes little sense. With a record amount of personal debt and people not being able to buy necessities, they're finding their prices... and the current prices are too high.
Prices will also come down once gas prices come down. I'm not stocked up on everything through 2024/2025 though, so I'm just being extra diligent about spotting sales.
Still not going to buy any wood.
https://tradingeconomics.com/commodity/lumber
Though the price of a framing grade stud came down to about $3.75 a month or so ago, it's back up to $4.80 right now. They were $7.30 back in April, and for about half the summer last year they were over $10.00 per.
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Falsus in unum, falsus in omnibus
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Quote:In Perfect Capitalism the price would be adjusted for each person. When you insert the credit card into the gas pump, a credit check is done. Those with high credit ratings pay a higher price than those with lower credit ratings. Those who pay cash at the window, presumably the poorest, pay the highest price per gallon since they are buying anonymously. You think that is absurd? Americans already pay a unique price when they go to the hospital for medical care.
Originally posted by 6IXSTRINGJACK:
That makes little sense. With a record amount of personal debt and people not being able to buy necessities, they're finding their prices... and the current prices are too high.
Old people on Medicare pay the lowest prices while those without insurance pay the highest. The result is that in America, medical care absorbs 19.7 percent of the GNP. All Other countries? Less than 10%. Prefect Capitalism.
The National Health Expenditure Accounts (NHEA) are the official estimates of total health care spending in the United States -- Dating back to 1960
https://www.cms.gov/Research-Statistics-Data-and-Systems/Statistics-Tr
ends-and-Reports/NationalHealthExpendData/NationalHealthAccountsHistorical
How does health spending in the U.S. compare to other countries?
https://www.healthsystemtracker.org/chart-collection/health-spending-u
-s-compare-countries-2/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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Whether I pay for gas at the pump with cash or with credit the price is the same for me. Same with anything else.
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Quote:Not the same for medical. Medicare patients pay less than than cash/check paying patients.
Originally posted by 6IXSTRINGJACK:
Whether I pay for gas at the pump with cash or with credit the price is the same for me. Same with anything else.
The cash price is LOWER than the credit card price of gasoline at some Texas gas stations. That is even on the signs displaying prices.
What Texans tolerate at the hospital also happens at the grocery store where prices are lower if you use a Kroger ID (similar to a Medicare card) which also gives you 35 cents per gallon discount at the Kroger gas pump. The gasoline discount depends on who you are. I also get $11 discount on groceries if I buy $110 worth, in addition to the discount because of coupons. Earlier this year it was a $10 discount on $100 worth. Inflation, again.
Different prices for different people in Perfect Capitalism.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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A crude export ban is destined to fail, but a price cap could work
Claudio Galimberti, Aug. 8, 2022
To tame gasoline prices and provide U.S consumers with some much-needed relief, a few market hawks and politicians are calling on the Biden administration to reimpose a crude export ban. This is driven by the idea that domestic oil will then stay within US borders and ample supplies will eventually blunt the surge in retail prices.
But that idea is fundamentally flawed. An export ban would be quixotic and ultimately prove a disastrous policy, adding further stress on an already strained domestic and global market.
To understand why a new ban may come back to bite the Biden administration, we need to analyze the price mechanism for gasoline in the US and crude globally.
Crude prices have signaled a supply shortage since the start of 2022. This comes from expectations that Russian production would drop sharply following tight western sanctions in response to the war in Ukraine. Imposing a crude export ban in such a situation would exacerbate the oil shortage, pushing the price of Brent crude even higher.
In the United States, oil from the Permian Basin would be trapped in Texas, driving the price of U.S. benchmark West Texas Intermediate well below that of the international benchmark Brent crude. U.S. producers would lose the incentive to keep drilling.
But what about consumers? Would they see lower pump prices?
The answer is an unequivocal no. Gasoline prices along the East and West coasts, where most Americans live, are set internationally via an import parity mechanism and would therefore be negatively affected by the increase in Brent prices. In the end, a policy designed to reduce domestic gasoline prices at the expense of the efficiency and competitiveness of the American oil producers would result in higher gasoline prices for most Americans.
So, what could be proposed to reduce gasoline prices? First, we must understand the root causes of high prices and assess the possible solutions.
In simple terms, gasoline prices depend on the price of crude and the profit margins of refiners. Both are high, but for different reasons.
Crude prices are elevated due to the Ukraine war risk premium, while refining margins are at historic highs because of a global dearth of refining capacity. In other words, there’s not enough global refining capacity to keep up with the demand for gasoline, diesel, and other oil products.
No quick fix
A quick fix for the wide refining margins is complicated, if not impossible. But the market will likely work its magic: high margins will incentivize investments in additional refining capacity, bringing the supply and demand of oil products back in balance and eventually causing margins to revert to a more typical range.
The critical question is when? It takes years to build a refinery, but the good news is that new refineries are already in the pipeline, primarily in Asia and the Middle East. They are expected to come online this year and through 2024.
The crude risk premium is a different story. The proposed price cap on Russian crude exports, floated by Treasury Secretary Janet Yellen, is a move in the right direction and far superior to an outright ban. An oil price cap would cut the price paid on purchasing Russian oil.
On HoustonChronicle.com: No direction home: Uncertainty has oil markets swinging wildly
In practice, the most direct mechanism to impose it is via insurance. The International Group of Protection & Indemnity Clubs in London covers around 95 percent of the global oil shipping fleet. Western countries could impose a price cap by letting buyers keep that insurance, as long as they agree to pay no more than a certain price cap for the Russian oil on board.
Many obstacles, however, could derail such a plan. The most obvious one is that Russia might not agree to sell at those prices. Putin has already shown willingness to withhold natural gas supplies to European countries that refused to meet Russia’s payment demands. Still, wit
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Quote:
Originally posted by second:Quote:Not the same for medical. Medicare patients pay less than than cash/check paying patients.
Originally posted by 6IXSTRINGJACK:
Whether I pay for gas at the pump with cash or with credit the price is the same for me. Same with anything else.
If they can pay. Turns out it's pretty easy to get out of paying most of it when you're in the lower quintile and you've got 3 brain cells and a little bit of free time.
Quote:
The cash price is LOWER than the credit card price of gasoline at some Texas gas stations. That is even on the signs displaying prices.
It's like that here too. It's probably like that everywhere. If I go to one and it's cheaper to pay cash, I'll pay cash.
Quote:
What Texans tolerate at the hospital also happens at the grocery store where prices are lower if you use a Kroger ID (similar to a Medicare card) which also gives you 35 cents per gallon discount at the Kroger gas pump. The gasoline discount depends on who you are. I also get $11 discount on groceries if I buy $110 worth, in addition to the discount because of coupons. Earlier this year it was a $10 discount on $100 worth. Inflation, again.
And until 2 months ago, I had gotten nearly $2,000 worth of stuff free after rebate. But they're not doing that anymore.
Quote:
Different prices for different people in Perfect Capitalism.
Well as you said before, poor people are more likely to pay with cash, so they're getting the cheaper price on gas at the right stations where the rich white people are too dumb and/or lazy to take advantage of that. Hell, half of them in 2020 probably don't even walk around with a physical dollar in their pockets anymore. And there's a reason the gas stations do this. They don't have to pay the obscene credit card fees and they pass that savings along to the customer. Some of it, anyway.
Buying in bulk has always gotten you a good deal at a lot of places.
Anybody who doesn't have health insurance and pays 100% of the medical bill made a huge mistake. I know this for a fact, because I did it once back in my early 20's. It's a mistake I won't ever make again.
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Quote:I guess I forgot to mention that, if correct, that is a 33% increase since Lord Darth Obiden accepted Annointment.
Originally posted by JEWELSTAITEFAN:
I think it was last year that Little Caesar's bumped their price of Wings from $5.99 to $6.99
Now they just had to bump it another buck to $7.99
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Raw data: Inflationary episodes over the past 70 years
Author Kevin DrumPublished on August 10, 2022 – 7:33 pm
https://jabberwocking.com/raw-data-inflationary-episodes-over-the-past
-70-years/
Sticky Price Consumer Price Index less Food and Energy
https://fred.stlouisfed.org/graph/?g=SGvi
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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Nobody cares about your graphs when they're paying more.
You wouldn't keep posting those graphs if you believed it, right?
Because according to you, you can't ever repeat anything otherwise that means you're just trying to convince yourself that something is true.
I'm going to have fun with that one. You bet your ass I will. 
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Quote:When 6ix writes for the 1,001th time that "Trump will be fine," that is a statement about Trump's future, which is guesswork. You should be worried about his future. On the other hand, a graph about prices in the past is the exact opposite of guesswork. It is all facts.
Originally posted by 6IXSTRINGJACK:
Nobody cares about your graphs when they're paying more.
You wouldn't keep posting those graphs if you believed it, right?
Because according to you, you can't ever repeat anything otherwise that means you're just trying to convince yourself that something is true.
I'm going to have fun with that one. You bet your ass I will.
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Falsus in unum, falsus in omnibus
6ix, your psychological fortress will collapse if Trump has to, say, pay his income taxes in the future because of the historical fact he hasn't paid in the past. After cheating for 20 years, Fatso owes $billions. Trump won't be fine.
6ix, if you hate the prices you're paying at your local gas station or grocery store or for rent, you could either steal what you want or force the Capitalist who is cheating you to lower his prices. (That Capitalist could be cheating on his income taxes. He could lower his prices by the amount he doesn't pay in taxes.) But if you go with the 3rd option, blame the Democrats, that is the same as the zero option, not getting the stuff you want from sellers. Changing politicians will not change prices because politicians don't control prices in The Perfect Capitalist Paradise known as the USA, where Capitalists set the prices, not politicians.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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