Prices.... Going Up!!!

[quiet]

Went broke once. Back in 76. Sold my old used car to eat. Decided it wasn't happening again. It was a valuable lesson to learn at a young age when I had little to lose.
Since then, it's basically been don't buy it if it won't sell to recover all the money. I came to the conclusion that for me, actual ownership has no value, just the use.
So, I started buying what I wanted and used it till I didn't. Then off it goes.
Plenty of toys to play with that way. But no fancy expendables.

 

[stereofanboy]

Greed is part of human nature and can't be wished or legislated out of existence. A system that takes human nature into account will lead to prosperity while a system that doesn't will lead to poverty.

Of course prosperity won't be distributed evenly because prosperity isn't distributed. The poverty will be pretty evenly distributed with the exception of those in power and those they favor.

A high minimum wage will be a temporary salve for those who earn minimum wage. It will be a more permanent boon to those companies whose competition will be driven out of business by the fat finger of government on the scale.

 

[parman]

gas was 3.79 at some stations here yesterday.

 

[NH-MAN]

I remember when buying my first house, the bank is like you can afford x amount. I was like no, maybe in a perfect world if nothing goes wrong let's knock about 50 K off that. 15-year mortgage isn't much more than a thirty and a thirty-year mortgage is just pissing money away with interest. It wasn't my dream home, but I didn't stress me and that has real value.

 

[quiet]

I remember when buying my first house, the bank is like you can afford x amount. I was like no, maybe in a perfect world if nothing goes wrong let's knock about 50 K off that. 15-year mortgage isn't much more than a thirty and a thirty-year mortgage is just pissing money away with interest. It wasn't my dream home, but I didn't stress me and that has real value.

Knock 50K off the top you say? My first house was only 32K total.

 

[MuseChaser]

Knock 50K off the top you say? My first house was only 32K total.

Our first house was $12,500. Coincidentally or not, that was also almost exactly my salary that year as a first year public school teacher....1984.

 

[NH-MAN]

Born in 66 and did not buy my first house until I was in my thirties and established with a great paying job.

 

[dfunghi]

more permanent boon to those companies whose competition will be driven out of business

This argument has been made since the wage was a little over $2. In that time millions of people have started businesses both large and small and survived for a long time. One of the sheer pleasures of starting, owning and maintaining a small business for three decades was how well I paid my helpers and how well they went on to do in their own lives. Could I have maybe banked more money if I paid less? Maybe, while my helpers struggled to have a decent life.

People (some people) have this weird notion that somehow everyone but themselves and family should work for the bare minimum to survive. I was berated by a few of my customers over the years when I would raise my prices. Saying things like "didn't you go to Italy last year?" Or "didn't we see you at XXX restaurant with your wife the other day" Somehow to them if I can afford anything nice I am charging too much. Not to mention the customers wearing $2K shoes and $75K rings complaining about my prices for MUSHROOMS! Mushrooms I grew with great care to bring a great product to market. Sometimes when asked why the supermarket sells stuff so much cheaper I point out quality as well as they make profit on TP and Beer, I have to make all of mine on these mushrooms alone. Happily 90% of my customers were not like that and some even interjected their feelings during other's rants.

Why should our tax dollars be used to supplement Wally World staff because WW won't pay enough? If you work 30+ hours a week at WW and still need food stamps something is wrong, especially as WW earns huge profits and has several of the richest people in the world in Walton family heirs.

Legislating financial distribution never really works if sending money south, only north. We have no issues with legislatures passing laws and tax codes that make the rich richer but god forbid they try to do it in the opposite direction they are called names and spit on at town hall meetings. People somehow think giving their money to a corporation is better than paying taxes. How any society treats its poorest and weakest says all you need to know. How a society reveres and worships corporate profits at the expense of everyone not sharing in those profits also tells us much about that society. We need food banks for poor, working class people? Why? It's not like there is not huge profits made at the places they work.

 

[Supercool!]

Greed is part of human nature and can't be wished or legislated out of existence. A system that takes human nature into account will lead to prosperity while a system that doesn't will lead to poverty.

Of course prosperity won't be distributed evenly because prosperity isn't distributed. The poverty will be pretty evenly distributed with the exception of those in power and those they favor.

A high minimum wage will be a temporary salve for those who earn minimum wage. It will be a more permanent boon to those companies whose competition will be driven out of business by the fat finger of government on the scale.

A society, or civilization for that matter, is what we choose to make them. They are functionally designed to inhibit the worst human instincts so that we may all benefit from rational endeavor and our best instincts.

Leadership exists in part to set the best example so that the larger masses may see what is possible and emulate it. Just claiming that human nature "is what it is" or is only comprised of greed is an excuse for not engaging the better parts of our nature. Yes, indeed, human nature should be taken into account ...but how, and which elements of human nature is the operative question. To assume that greed is our only instinct is to sell humanity short. If this were the case we could all go on killing each other and stealing what we want...until...someone does it to us. Is that the world we want to live in?...then good luck...enjoy the squalor and misery.

Poor government, or specifically ineffective or corrupt government is our own fault...we choose it every time we vote or for that matter decide not to run for office. Yes, it is frustrating...but there are IN FACT huge choices being made every time we support candidates and their platforms.

Greed is not the only means of breeding prosperity but it sure breeds inequality and vile behavior. If you think $15 is a high wage or a salve, you are disregarding the hard work of others which is an erroneous assumption. There are many people who work very hard to earn minimum wage and have to struggle to gain the opportunities others have by birth. There are many examples of great people who started at the bottom and rose to benefit all of society.

@dfunghi very well put sir!

 

[Mystic]

Poor government, or specifically ineffective or corrupt government is our own fault...we choose it every time we vote or for that matter decide not to run for office. Yes, it is frustrating...but there are IN FACT huge choices being made every time we support candidates and their platforms.

Thus the saying: You get the government you deserve.

So accurate.

 

[jcamero]

Sad to know my 56 hour paychecks just don't go as far as they did. Being frugal helps. Creative thinking too.

 

[OBMG74]

Sad to know that you have to work 56 hours to buy what 50 hours might have purchased a while ago.
Might be worse than that.

 

[spicer]

Went broke once. Back in 76. Sold my old used car to eat. Decided it wasn't happening again. It was a valuable lesson to learn at a young age when I had little to lose.
Since then, it's basically been don't buy it if it won't sell to recover all the money. I came to the conclusion that for me, actual ownership has no value, just the use.
So, I started buying what I wanted and used it till I didn't. Then off it goes.
Plenty of toys to play with that way. But no fancy expendables.

Different circumstances but I had somewhat the same epiphany in my late twenties and lived below my means, never borrowed money, and always had more than enough. It was the best thing I ever did and the 'payback' has provided more than I ever could chasing it.

 

[Mystic]

While the raging inflation in the USA is terrible, with CPI inflation at 8.5% in March 2022, inflation is also running rampant across the European Union (EU). In a dozen EU states, the rate of inflation for March 2022 was worse than that in the USA.

The rate of inflation, highest to lowest, in March 2022, among the 27 member states of the European Union:

Lithuania 15.6%
Estonia 14.8%
Czechia 11.9%
Netherlands 11.7%
Latvia 11.5%
Bulgaria 10.5%
Poland 10.2%
Spain 9.8%
Romania 9.6%
Slovakia 9.6%
Belgium 9.3%
Hungary 8.6%
Greece 8.0%
Luxembourg 7.9%
Germany 7.6%
Croatia 7.3%
Ireland 6.9%
Italy 6.8%
Austria 6.7%
Sweden 6.3%
Cyprus 6.2%
Denmark 6.0%
Slovenia 6.0%
Finland 5.8%
Portugal 5.5%
France 5.1%
Malta 4.5%

 

[OBMG74]

Pressure treated 2 x 4 x 8' at Menard's: $10.66 before 11% rebate

 

[Mystic]

The median annual income during the Great Depression was 22% of the cost of an average home.
As of January 2022 it’s 14%.

 

[Mystic]

PART I. COST OF DIESEL AND GASOLINE, USA, MAY 2022

Average Cost Per US Gallon Diesel (2 May 2022): USD 5.51 per gallon.

Per Gallon Cost DIESEL, 2006-2022:

Source: U.S. Department of Energy (DOE) - Energy Information Administration (EIA)

Average Cost Per US Gallon Gasoline (2 May 2022): USD 4.18 per gallon.

Per Gallon Cost GASOLINE, 2006-2022:

Source: U.S. Department of Energy (DOE) - Energy Information Administration (EIA)

Notes

1. The previous record for one US gallon of diesel fuel -- $4.76 -- was in July 2008.

2. At $4.18 per US gallon, the average cost of gasoline declined from an historic high of $4.32 on 14 March 2022.

PART II. COST OF CRUDE OIL, MAY 2022

CRUDE OIL WTI futures as of 2 May 2022 are $105 a barrel, about the same as at the end of March 2022, and below their cost througout all of 2013 and 2014 and well below their peak of $150 per barrel in July 2008.

CRUDE OIL FUTURES - USD/BBL 2013-2022

Source: U.S. Department of Energy (DOE) - Energy Information Administration (EIA)

Conclusion

The mindset of US and world consumers, via inflationary conditioning, has encouraged the fuel supply industry to mark up the price of diesel to record levels, likely citing the "massive demand" exerted by the trucking and logistics industries. The fuel supply industry has also succeeded in marking up the price of gasoline to first record and then maintain that cost at near-record levels. Most improtantly -- and telling -- is that this industry has been able to do these things without triggering a buyers’ strike despite the fact that the cost of crude oil is, as of May 2022, 30% below record levels. The inflationary mindset among the US and world consumer bases are extraordinary indeed.

 

[quiet]

They're saying we now have a crude distribution pipeline shortage. And that it's a contributor to the current crude and pump price disconnect.
They say we're pumping plenty of crude but can't move it to the refineries fast enough.
Nothing to do with the canceled Keystone pipeline.

 

[Mystic]

Nothing to do with the canceled Keystone pipeline.

Ehgzaaaaaaktlee.

 

[YY1]

I wonder if they are counting the period after hurricane Katrina in 04/05 when the oil port in LA was damaged.

Even though we get ours via the port at Tampa, we still got hit hard with price increases.

I want to say there were almost if not just as much as they are currently.