I'm surprised there's not an inflation thread yet
POSTED BY: 6IXSTRINGJACK
UPDATED: Thursday, June 11, 2026 17:04
VIEWED: 37356
PAGE 64 of 84
Moved to this thread from "As Palestinians pushes for statehood, Israel finds itself more isolated" because Second derailed another thread again.
Quote:
Originally posted by second:Quote:This country already works well, but not for people who are financial ignoramuses. The article that explains what you need to learn so that your life works well is "I Saw Thousands of Bank Account Details as a Teller. It Taught Me 3 Lessons Millions Never Learn." In the title, the word Millions should be replaced with 200 Million to make the size of the problem clearer.
Originally posted by 6ixStringJack:
Agreed. But no more immigrants, legal or otherwise, no matter where they come from. I'm not saying never again, but at least until we finally start making this country work for the legal citizens again. We're broke and we're broken. We don't need anybody else in here taking the dwindling resources.
https://www.inc.com/kelly-main/i-saw-thousands-of-bank-account-details
-as-a-teller-it-taught-me-3-lessons-millions-never-learn.html
After all, it's not just about what you earn, it's also about what you keep. And from my time as a teller, those who employed these three principles were those who were the most well-off -- not just in terms of financial well-being, but also in terms of happiness and general well-being. Because when you don't have the burden of immense financial stress, you have something everyone wants and the overarching goal of having money: financial freedom.
Then there is "My in-laws are terrible with money. What should I do?"
https://www.vox.com/even-better/23912950/parents-money-personal-financ
e-advice-how-to
Start talking to your husband, right now, about what you’re going to say when your in-laws ask to live with you. Given the current housing market, it’s a much more likely scenario than the one in which they travel the world.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
Quote:
Originally posted by second:Quote:I have never known angry poor white trash who understood inflation, except for you, assuming you know what you think you know.
Originally posted by 6ixStringJack:
Fuck you dude. Who do you think you're talking to?
The guy who hasn't worked for 4.5 years, that's who.
I'm in a much better position than most.
It doesn't change the fact that my money only buys 70% of what it did just 3 years ago. Democrats are responsible for this.
I'm not poor, nor am I white trash.
I understand money a lot more than your stupid ass does.
Quote:
One way to calculate inflation is by postage stamp prices
No. This is not a valid indicator of inflation by any metric. Postage stamp increases are approved by the Governors of the USPS and are not tied to any automatic triggers.
A better (but not perfect) example that you could have used would be the COLA raises for Social Security by year.
TRUMP:
2017: 2.0%
2018: 2.8%
2019: 1.6%
2020: 1.3%
Non-Compounded TOTAL COLA during Trump's administration (4 YEARS): 7.7%
Non-Compounded AVERAGE COLA during Trump's administration: 1.925%
BIDEN*:
2021: 5.9%
2022: 8.7%
2023: 3.2%
Non-Compounded TOTAL COLA during Biden*'s administration (ONLY 3 YEARS): 17.8%
Non-Compounded AVERAGE COLA during Biden*'s administration: 5.93%
Quote:
April 10, 2016 All U.S., 1st oz. 47 cents
January 20, 2017 Trump Inaugurated
January 22, 2017 All U.S., 1st oz. 49 cents
January 21, 2018 All U.S., 1st oz. 50 cents
January 27, 2019 All U.S., 1st oz. 55 cents
January 20, 2021 Biden Inaugurated
August 29, 2021 All U.S., 1st oz. 58 cents
July 10, 2022 All U.S., 1st oz. 60 cents
January 22, 2023 All U.S., 1st oz. 63 cents
July 9, 2023 All U.S., 1st oz. 66 cents
55/47=1.17 or Trump Inflation 17%
66/55=1.20 or Biden Inflation 20%
ME
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:All people I know who share your opinions are angry poor white trash. None of those people think of themselves that way. None of them make the connection between who they really are and why their lives are full of problems and heartbreak. With only a few exceptions, they blame anybody other than themselves for their misfortunes.
Originally posted by 6ixStringJack:
I'm not poor, nor am I white trash.
I understand money a lot more than your stupid ass does.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Interestingly enough, I did finally get around to reading one of Second's articles which prompted that unrelated string off of the Palestinian thread.
Quote:
"I Saw Thousands of Bank Account Details as a Teller. It Taught Me 3 Lessons Millions Never Learn." In the title, the word Millions should be replaced with 200 Million to make the size of the problem clearer.
https://www.inc.com/kelly-main/i-saw-thousands-of-bank-account-details
-as-a-teller-it-taught-me-3-lessons-millions-never-learn.html
Even when he is sorely mistaken when trying to apply those lessons to me when I'd already learned them far before I became a member of this site and have honed them to a fine blade that serves me extremely well in times such as these, Second and I actually agree on the points the article makes. And I also agree specifically with his replacement of 200 Million instead of just the millions of people the article calls out. I see this shit happening everyday with people I know and it frustrates me beyond belief.
While working as a teller at 16 years old, she learned a lot about people's stupid spending habits. Here's the main points she brings up.
Quote:
1. Expensive possessions do not signify wealth
What I would see as a teller over and over again was that a high percentage of the people wearing the flashy designer belts or handbags dotted with a brand's logo often had the smallest bank accounts. The people driving luxury cars were as often those who were financially secure as they were those whose bank accounts were often negative or on the brink of negative.
In other words, there was little to no correlation between expensive objects and wealth.
Oftentimes, the expensive objects people owned to look wealthy were often the same things that brought them closer to poverty. Even those with high salaries had a tendency to carry lower account balances when they became consumed by the desire to display their wealth. When water seeks its own level, the bank account drains as quickly as it is filled.
Newly funded founders have a tendency to splash out on fancy offices, technology, and trips with the idea that if they look like they're successful they will become successful. But VCs and investors see through the façade of fabricated wealth and instead see a frivolous spender.
Yup. This is why I was broke at 20 years old when the best job that I will ever have in my life disappeared before my eyes because of external influences beyond my and anybody else's control.
Not only did I spend more on one single outfit what I'll now spend in an entire year on clothing, but I always had all of the newest tech, the most expensive home entertainment setup, and I'd be partying or going out to the bar 7 nights a week while always paying for imported beer while my friends drank MGD and Budweiser.
Granted, the price for an imported beer at the bar back then was about 1/3 of what an MGD would cost at the bar today...
What happened to all that tech? It's ancient now. It's in a landfill. The only part of my home entertainment setup that I still have to this day was a pricey SONY VCR, and that's only because I still have some VHS tapes that I was never able to replace since they were personal stuff or things that never got a DVD/BluRay release or downloadable versions, and I've been too lazy to convert them.
I dropped out of college for that job. I then spent the next 5 years living in my grandma's basement with the 2 out of the 7 worst cats that pissed all over everything, working odd jobs through temp agencies just trying (and failing) to not get too far into debt.
It was only when I was 25 that an offer came up that forced me to move several hundred miles out of state and away from all the bad influences that I was able to finally make good money again and actually save it. I was in some pretty serious debt at first, but my journey of not keeping up with the Joneses had already begun years before that.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:
Originally posted by second:Quote:All people I know who share your opinions are angry poor white trash. None of those people think of themselves that way. None of them make the connection between who they really are and why their lives are full of problems and heartbreak. With only a few exceptions, they blame anybody other than themselves for their misfortunes.
Originally posted by 6ixStringJack:
I'm not poor, nor am I white trash.
I understand money a lot more than your stupid ass does.
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at
https://www.mediafire.com/folder/1uwh75oa407q8/Firefly
I noticed that you had posted this before I made my last post.
Please read it.
Maybe then you'll understand why I never take any of your constant personal insults seriously.
Not only do they bear no basis in reality, but I don't spend a single second of my life giving care to what anybody thinks about me. This includes people that I care about and/or people who are of benefit to my own existence. Two categories of people which often overlap, and also two categories of people which you are not nor could you ever be a part of.
Of the people who do matter, they think highly of me because with my free time and a lifetime of various skills I have acquired I can easily make myself available to them whenever they need anything. I don't need to buy anybody's love or respect. I don't even need to help them if I don't want to. But I often do because it makes me feel good to do so and I've got all the time in the world at my disposal.
My day to day life is virtually drama free, and infinitely easier than yours has ever been or ever will be. I want for nothing. I answer to nobody. I do whatever I feel like doing whenever I feel like doing it. Even if that's doing nothing at all for as long as I feel like just doing nothing.
And daily naps are about as close to heaven as I could ever imagine one could find on this shitty little rock we all currently call home.
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Late payments rise on US loans tied to inflated pandemic credit scores
Emergency cash and repayment freeze gave lenders an ‘opportunity to juice up their growth’
https://www.ft.com/content/ac880c02-c4c7-4424-8165-3d900a87bd52?segmen
tId=b385c2ad-87ed-d8ff-aaec-0f8435cd42d9
Fortunately, they didn't bump too many people up above 800 when they were doing this, so people who are responsible with money like me aren't lumped in with the rest of you dummies.
The hidden price of inflation: High costs disrupt life in more ways than we can see
Inflation forces people to invest less, spend time negotiating for raises and devote more energy to coping with rising prices.
https://www.usatoday.com/story/money/2023/10/18/hidden-costs-of-inflat
ion/71220144007/
How about not spending more money than you can afford on bullshit you don't need?
No? That's not one of the things people are doing?
Well... I guess they deserve to go bankrupt then.
There was no good to any of Biden's policies. Even the ones the Legacy Media is bending over backwards to still tell you were a good idea at the time.
All that free money is gone, and all we're left with is a society that became even less disciplined with their money than they were in 2020 and a banking industry that became even more predatory than it already was in 2020.
Fuck Joe Biden* and anybody who voted for him.
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
More people are missing car payments in another ominous sign for the economy
https://www.yahoo.com/news/more-people-missing-car-payments-162832787.
html
Quote:
A record number of subprime borrowers are behind on their auto loan payments by 60 days or more, according to figures from Fitch Ratings reported by Bloomberg.
The rate hit 6.11% in September – the highest since records began in 1994, and was up from the 5.93% recorded at the start of the year.
Analysts predict that auto loan delinquencies will continue to rise into 2024 and peak at about 10% before they start to fall, per CNN.
The high rates of delinquencies indicate that many lower-earning workers in particularly are struggling amid ongoing high inflation, a rough jobs market, and the resumption of federal student loan payments following a pandemic-era freeze.
High interest rates are also having an impact, with many turning to borrowing to cope. In the second quarter of this financial year, credit card debt surpassed $1 trillion for the first time in the NY Fed survey's history.
Though delinquency rates do not necessarily mean a recession will happen, they are often reflect a struggling economy.
Margaret Rowe, senior director at Fitch, told Bloomberg: "The subprime borrower is getting squeezed. They can often be a first line of where we start to see the negative effects of macroeconomic headwinds."
More than a third of Americans are considered subprime borrowers, according to an Experian study, meaning they have lower credit scores and are deemed less likely to meet their repayments on loans. As a result they usually have to pay considerably higher interest rates.
For subprime borrowers, rates for new cars average 11.5% and 18.5% for used autos, according to Experian. Prime borrowers are charged far less – 6.4% and 8.75% respectively on average.
Those that can't meet their payments face having their cars repossessed and often have great difficulty getting to work. In 2022, only 11% of commuters in the US used public transport, according to the World Economic Forum.
Cox Automotive, a leading auto organization, predicts that 1.5 million cars will be repossessed this year – 300,000 more than in 2022.
The rising number of delinquencies on auto loans is not putting off some consumers, however. A record number of new car buyers took out loans with monthly payments of $1,000 or more in the three months to June, according to data from Edmunds.
Car payments have become the highest expense for some Gen Zers and millennials, even exceeding their rent.
The rate of subprime borrowers behind 60 days or more on their car payments is higher than it has ever been since they started recording this statistic. Not since 2008-2012. Since at least 1994.
1.5 Million cars are going to be repossessed by the end of 2023, with even more coming in 2024.
If I can keep my piece of shit 26 year old car running over the winter, I should be able to get a really nice used car on the cheap before she fails to pass the emissions test for the last time.
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Americans are struggling to pay their debts as economy tightens
https://thehill.com/business/4272973-americans-are-struggling-to-pay-t
heir-debts-as-economy-tightens/
But please. Let's raise taxes so we can send more money to Ukraine and Israel.
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Home prices and rents have both soared. So which is the better deal?
https://www.cbsnews.com/news/home-buying-renting-52-percent-more-expen
sive-to-buy-cbre/
Quote:
A new analysis from real estate firm CBRE is providing some clarity on that question. What it reveals may dishearten house hunters: The cost to buy a home, compared with the cost of renting one, is now the most expensive on record — a price gulf that even surpasses the gap seen during the housing bubble in 2006.
It now costs 52% more to buy a home compared with renting an apartment, according to CBRE data emailed to CBS MoneyWatch, which analyzed the monthly cost of a new home purchase versus a new lease from 1996 through the third quarter of 2023. By comparison, at the peak of the housing bubble in 2006, it was 33% more expensive to buy versus to rent — a gap that quickly reversed when housing prices plunged during the Great Recession.
On a dollar basis, that means new homeowners today face monthly costs of $3,322, versus $2,184 for people who sign new leases.
My implied wealth by not paying for a mortgage/rent and a car loan is just skyrocketing under this shitshow of an Administration.
The average car payment in 2023 is now $729 per month. The average full-coverage car insurance cost is $2,014 per year in 2023, or $168 per month. (I pay $350 per year, or $29 per month now... quite a bit more than last year, but nothing like full coverage averages).
Subtracting the $29 per month for my car insurance coverage price, that's $4,190 a month I "make", tax-free, simply by not needing to pay for any of it.
That's $50,280 after tax worth of things that I don't have to work for in 2023.
Go Joe Biden* Go!
You are the worst President we've ever had in any living person's lifetime, and I pity all the hundreds of millions of people who didn't prepare for what you've done to them.
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
CBS News: Many Americans say they're spending more than they earn, dimming their financial outlooks, poll shows
https://www.cbsnews.com/news/american-economy-household-spending-highe
r-than-income-ap-norc-poll/
Quote:
Many Americans say their household expenses are outstripping their incomes, prompting concerns about their financial futures. At the same time, household debt for most Americans has either risen in the last year or has not gone away.
About 2 in 3 Americans say their household expenses have risen over the last year, but only about 1 in 4 say their income has increased in the same period, according to a new poll from The Associated Press-NORC Center for Public Affairs Research.
Even so, consumer spending has remained strong despite the double whammy of still-elevated inflation and rising interest rates, with the latter making it more expensive to carry credit card debt and to buy homes and cars. In some cases, Americans say they are shelling out more on basics like groceries even as their incomes haven't kept up.
Steve Shapiro, 61, who works as an audio engineer in Pittsburgh, said he'd been spending about $100 a week on groceries prior to this past year, but that he's now shelling out closer to $200.
"My income has stayed the same," he said. "The economy is good on paper, but I'm not doing great."
...
About 4 in 10 Americans (38%) approve of how Biden is handling the presidency, while 61% disapprove. His overall approval numbers have remained at a steady low for the last several years. Most Americans generally disapprove of how he's handling the federal budget (68% disapprove), the economy (67%), and student debt (58%).
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
I need my 401(K) money now: More Americans are raiding retirement funds for emergencies
https://www.usatoday.com/story/money/2023/10/26/401-k-withdrawal-for-e
mergencies-more-common/71311871007/
You voted for this, retards.
--------------------------------------------------
Political correctness is just tyranny, with a smiley face.
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME