HowdyTexasAggies said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

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So you don't understand what caused the inflation?

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Lockdowns

https://www.washingtontimes.com/news/2023/nov/17/ron-desantis-dings-donald-trump-inflation-says-cov/

AggieOE12 said:

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Better, much better. This administration helped.

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I know one thing, our monthly household expenses for our family of 5 have exploded over what they were 4 years ago. Fortunately, my work situation has gone well in recent years so we have been able to absorb the increase, but I cannot imagine how the average worker getting a normal cost of living annual adjustment (if that) over the past 4 years is making ends meet.

AggieOE12 said:

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HowdyTexasAggies said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

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So you don't understand what caused the inflation?

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Honestly, I have not dug into anything of substance but from what I've seen, a constrained supply chain during the pandemic surged prices. Then they just never came back down.

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Finally something correct. Too much money chasing too few goods, caused by Spending that has not slowed. The Inflation Reduction Act is a perfect example.

rgvag11 said:

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HowdyTexasAggies said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

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So you don't understand what caused the inflation?

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Lockdowns

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Wrong, spending.

Nope and my grown kids can't afford to buy a house

HowdyTexasAggies said:

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Unless you have been receiving massive raises, there is no way for someone to better off financially. No raises for the last 2 years and 30-40% inflation. The majority of people are poorer. Anyone suggesting otherwise is 100% FOS.

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i loved my old job but as soon as that 2021 raise came in lower than inflation, i started looking for new ones. got a nice pay bump with a lot more upside and better work life balance.

ymmv but i knew immediately that passively waiting for my annual raises to catch up with inflation was not something i could count on. sometimes testing the waters is the better move.

TxAgLaw03RW said:

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This guy is obviously in the grocery business.

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The % profit in the grocery/food industry hovers around 1.5 - 2.0%.

samurai_science said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

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Its from spending, economics and history has not changed. Also, the companies are paying higher costs for services and goods as well. Thats the reason for the 150k tech sector layoffs in the last 45 days.

The bolded part is funny. Take the L

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....you still didn't answer it. Where is the money going? I'm genuinely curious. Higher costs for services = high wages for the ones doing the services, right?

My life is mostly okay and similar, because I can afford to be.

Many can't.

But I've certainly noticed the rise in prices all across the board, insurance, groceries, restaurants, gas, interest rates, everything. And I see the rise in crime, the terrorism going on around our country, even the Democrats pushing anti-semitism, It's astounding.

For someone living paycheck-to-paycheck, or even those either getting by reasonably comfortably or doing fairly well four years ago, they can't.

Rocag said:

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Yes. Though most of the reasons for that have very little to do with national level politics.

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This. I don't suck at my job. I live well within my means. I save for the future.

I retired as a High School Head Coach in 2023 ( not football) after 41 years. I'm 64, will be 65 in December. My salary before retirement was approximately 90 grand. Private lessons and summer clinics were an additional 10 grand. My wife is an accountant at a very large hospital. She makes approximately 90 grand now. I work 2-3 days a week at a high end golf store, where I make 1200 a month on top of my teachers retirement. That puts me close to 90 grand, again but with way less time involved. After my retirement, in the last two years I've bought a small ( new) travel trailer and go fly fishing once to twice a month starting in April thru October. Mostly travel to Colorado and northern New Mexico. So basically we have the same income, I have way more free time, play golf twice a week and fly fish when I want. We're doing better. I don't see us claiming Social Security for at least 5-7 more years. By that wife will have retired. We built a new custom home in 2017 and we pay mortgage and additional principal payment each month. My kid and his wife are both 34 years old and they're doing even better.
I'm lucky, but we've had great planning. I will never complain about what we have.

Old McDonald said:

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HowdyTexasAggies said:

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Unless you have been receiving massive raises, there is no way for someone to better off financially. No raises for the last 2 years and 30-40% inflation. The majority of people are poorer. Anyone suggesting otherwise is 100% FOS.

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i loved my old job but as soon as that 2021 raise came in lower than inflation, i started looking for new ones. got a nice pay bump with a lot more upside and better work life balance.

ymmv but i knew immediately that passively waiting for my annual raises to catch up with inflation was not something i could count on. sometimes testing the waters is the better move.

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Agree that if you want more, go look for it-- but last couple years if you sell that 2800 sq ft house you have at 2.8%, all you going to get is a 1800 sq ft (maybe) at same price and 6% interest. So you better get substantial raise

Bought around 30 properties with debt right before and during covid. My assets are worth 2 or more times as much and my older debt is mostly fixed in the 3's and 4's range and will be mostly paid off in 12 years.

So Biden inflation has been great for me. It's screwing the typical voter who has to work for a living.

I have to go to work too but I spend a lot of time making money for my employer, financing property and posting on Texags when I get there.

AgRN16 said:

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AggieOE12 said:

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Better, much better. This administration helped.

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This administration helped businesses that either solely, or a very high % of their income, is from government contracts.
Who pays for those contracts, the people that pay taxes.

TexAgs91 said:

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Nope and my grown kids can't afford to buy a house

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Same here.

Absolutely not.

I don't know what it is about illegals and Subway restaurants, but my God.

My wait time went from a few minutes to an hour and a half.

AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

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Inflation of prices came from the excess ( and unnecessary) money injected into the economy by the IRA.

Also, energy costs skyrocketed (sound familiar) and that increased the transportation costs for everything from raw material to finished goods.

Any price increases from supply chain crunches from the Covid shutdowns would have normalized when the supply of goods was released, except the money supply was increased first by all the Covid bucks then by the aforementioned IRA and that kept prices high.

This is just basic supply and demand economics manipulated by the money supply.

I am better off, but I could be even BETTER off without the $5-$7 eggs, etc.

AggieOE12 said:

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samurai_science said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

---

Its from spending, economics and history has not changed. Also, the companies are paying higher costs for services and goods as well. Thats the reason for the 150k tech sector layoffs in the last 45 days.

The bolded part is funny. Take the L

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....you still didn't answer it. Where is the money going? I'm genuinely curious. Higher costs for services = high wages for the ones doing the services, right?

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The money is going nowhere. People are now paid $15-20/ hour for crap work. My son made around $20/hour busing table which is ridiculous. Biden policies immediately raised the price of oil as well. The government raised minimum wage on top of giving away free money for people to not work. On top of that several stimulus packages by way of printing money (ridiculous deficit spending) The inflation we see is Economics 101.

Hamburger Dan said:

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I retired as a High School Head Coach in 2023 ( not football) after 41 years. I'm 64, will be 65 in December. My salary before retirement was approximately 90 grand. Private lessons and summer clinics were an additional 10 grand. My wife is an accountant at a very large hospital. She makes approximately 90 grand now. I work 2-3 days a week at a high end golf store, where I make 1200 a month on top of my teachers retirement. That puts me close to 90 grand, again but with way less time involved. After my retirement, in the last two years I've bought a small ( new) travel trailer and go fly fishing once to twice a month starting in April thru October. Mostly travel to Colorado and northern New Mexico. So basically we have the same income, I have way more free time, play golf twice a week and fly fish when I want. We're doing better. I don't see us claiming Social Security for at least 5-7 more years. By that wife will have retired. We built a new custom home in 2017 and we pay mortgage and additional principal payment each month. My kid and his wife are both 34 years old and they're doing even better.
I'm lucky, but we've had great planning. I will never complain about what we hagood planning, a

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Good planning!
You are going to be pissed when Social security reduces your pension by 2/3. Why they do that to teachers , while city, county, state employees receive their pension with no hit to SS, I do not know. Many teachers worked at night and summers to make ends meet, and then after retirement. they penalize folks who work.

Bernie and AOC dont tell you that medicare for all premiums go up as you age, and that Part A really isnt worth a sheet and Part B not much better, and by the time you buy a supplement, it is ove 300 a month-- not bad, but not free.

Owlagdad said:

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Hamburger Dan said:

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I retired as a High School Head Coach in 2023 ( not football) after 41 years. I'm 64, will be 65 in December. My salary before retirement was approximately 90 grand. Private lessons and summer clinics were an additional 10 grand. My wife is an accountant at a very large hospital. She makes approximately 90 grand now. I work 2-3 days a week at a high end golf store, where I make 1200 a month on top of my teachers retirement. That puts me close to 90 grand, again but with way less time involved. After my retirement, in the last two years I've bought a small ( new) travel trailer and go fly fishing once to twice a month starting in April thru October. Mostly travel to Colorado and northern New Mexico. So basically we have the same income, I have way more free time, play golf twice a week and fly fish when I want. We're doing better. I don't see us claiming Social Security for at least 5-7 more years. By that wife will have retired. We built a new custom home in 2017 and we pay mortgage and additional principal payment each month. My kid and his wife are both 34 years old and they're doing even better.
I'm lucky, but we've had great planning. I will never complain about what we hagood planning, a

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Good planning!
You are going to be pissed when Social security reduces your pension by 2/3. Why they do that to teachers , while city, county, state employees receive their pension with no hit to SS, I do not know. Many teachers worked at night and summers to make ends meet, and then after retirement. they penalize folks who work.

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My biggest money source will be from Texas Retired Trachers System. I will be able to a small portion of SS, but not full. I haven't had to teach any classes since 2003. I'm 64, play golf and travel to the mountains and enjoy myself. We've got some money saved, some Mutual Funds with Income Stocks and Bonds. Like I said, I'm lucky.

I got a graduate degree and an higher paying job 4 years ago but I can't say I'm better off. With inflation, my finances aren't much healthier. I can say I'd be much worse off if I still had my old lower paying job.

Personally I would say probably yes. Wife and I made more money in 2023 than we ever have by quite a bit. Both kids recently finished college and are "off the payroll" so way more disposable income.

The inflation has been a bit crazy. Wife and I a few short years ago used to be able to go out to a casual restaurant have a couple of drinks and dinner for under $50. Now it's more like $80-$100. That's crazy.

Rex Racer said:

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I am better off, but I could be even BETTER off without the $5-$7 eggs, etc.

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You know you don't have to buy organic or heirloom eggs, right? Trust me, they all taste the same.

No Spin Ag said:

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Rex Racer said:

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I am better off, but I could be even BETTER off without the $5-$7 eggs, etc.

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You know you don't have to buy organic or heirloom eggs, right? Trust me, they all taste the same.

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My wife like organic free range, and I like to keep her happy.

annie88 said:

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My life is mostly okay and similar, because I can afford to be.

Many can't.

But I've certainly noticed the rise in prices all across the board, insurance, groceries, restaurants, gas, interest rates, everything. And I see the rise in crime, the terrorism going on around our country, even the Democrats pushing anti-semitism, It's astounding.

For someone living paycheck-to-paycheck, or even those either getting by reasonably comfortably or doing fairly well four years ago, they can't.

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Exactly. And most people posting on this forum are not the above. They don't have "portfolios", they're just trying to make it somehow, and getting a house for many is getting almost impossible.

Max Stonetrail said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

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Inflation of prices came from the excess ( and unnecessary) money injected into the economy by the IRA.

Also, energy costs skyrocketed (sound familiar) and that increased the transportation costs for everything from raw material to finished goods.

Any price increases from supply chain crunches from the Covid shutdowns would have normalized when the supply of goods was released, except the money supply was increased first by all the Covid bucks then by the aforementioned IRA and that kept prices high.

This is just basic supply and demand economics manipulated by the money supply.

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In January 2014, 12-mo inflation was at ~2%.
In March 2018, Inflation was at ~3%.
Inflation started rising in September of 2020 and peaked in May 2022 at ~9%.
On August of 2022, months later, Biden signed the IRA.
Currently it is back to 3%.

In September of 2021, interest rates were increased from ~2.8ish above 3% and then up to a peak of ~7.6% in Oct. 2023.

The IRA didn't create inflation.

dude probably got his student loan paid off by the Admin.

Higher energy costs have a ripple effect throughout the supply chain. This includes petroleum, petroleum products(there are thousands of petroleum products including pharmaceuticals), electric energy costs to pay the light bills, running a lathe drill press, melting iron ore, etc.
Higher interest rates cause prices to increase especially for those industries requiring large capital investment.
As more industries transition to foreign suppliers and those countries raise prices no one in this country gets any benefit. For example when a lot of lumber for construction was coming from Canada and even Europe.
As we are a trade deficit nation any increase in the cost of foreign goods or services adds to inflation only benefiting the foreign suppliers.

Much better but that has more with my kids finishing college and getting off the payroll than anything the government does or doesn't do.

This plus the ins and outs of the pandemic supply/demand anomaly make the most sense. Stimulus checks from Trump and Biden helped people in a pinch but did come at a cost.

Worse. Went from planning to build on land to relocating for a job following a tech-related layoff. Making a bit more and still tithing + funding retirement accounts, but not saving like we were and with dreams delayed at least 5 years.

AggieOE12 said:

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Max Stonetrail said:

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AggieOE12 said:

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If inflation is up 30-40%, that means the cost of goods has gone up right? Where did the inflation originate? Labor? Procurement? Logistics? Materials?

If you aren't seeing higher wages of your labor.... then who is getting that extra money? You can't say it all of the sudden went to the government.

---

Inflation of prices came from the excess ( and unnecessary) money injected into the economy by the IRA.

Also, energy costs skyrocketed (sound familiar) and that increased the transportation costs for everything from raw material to finished goods.

Any price increases from supply chain crunches from the Covid shutdowns would have normalized when the supply of goods was released, except the money supply was increased first by all the Covid bucks then by the aforementioned IRA and that kept prices high.

This is just basic supply and demand economics manipulated by the money supply.

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In January 2014, 12-mo inflation was at ~2%.
In March 2018, Inflation was at ~3%.
Inflation started rising in September of 2020 and peaked in May 2022 at ~9%.
On August of 2022, months later, Biden signed the IRA.
Currently it is back to 3%.

In September of 2021, interest rates were increased from ~2.8ish above 3% and then up to a peak of ~7.6% in Oct. 2023.

The IRA didn't create inflation.

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Read this troll, it's clear are full of it. I bet you believe the jobs reports as well

https://www.factcheck.org/2024/05/factchecking-biden-on-inflation-other-claims/