ADVERTISEMENT

Inflation June

It’s north of 12% for the first half of the year. Its f#cking ridiculous that we have 9% CPI inflation. Thankfully, the people in charge saw this coming🫣 The money is failing, which is what all fiat currencies do. The dollar will just be the last one to go. Maybe, buy some Bitcoin as an insurance policy against fiat trash?!?
 
  • Like
Reactions: vesuvius13
There is good news...

record jobs numbers,
gas prices trending downward every day for a month now (though still too high),
the baby formula crisis quietly resolved,
oil back under $100/barrel,
the US dollar firmly established as the preferred currency of the entire world, with record strength vs. the Euro, yen, yuan, etc.

The last point is a mixed bag, I realize, as it will hurt corporate profits from exports and not help the markets. But it does indicate that, in a world beset by economic turmoil, the USA is viewed as the steadiest economy in the storm.
 
Last edited:
  • Like
  • Haha
Reactions: ulrey and UncleMark
It’s north of 12% for the first half of the year. Its f#cking ridiculous that we have 9% CPI inflation. Thankfully, the people in charge saw this coming🫣 The money is failing, which is what all fiat currencies do. The dollar will just be the last one to go. Maybe, buy some Bitcoin as an insurance policy against fiat trash?!?
Been contemplating Bitcoin purchases.
 
There is good news...

record jobs numbers,
gas prices trending downward every day for a month now (though still too high),
the baby formula crisis quietly resolved,
oil back under $100/barrel,
the US dollar firmly astablished as the preferred currency of the entire world, with record strength vs. the Euro, yen, yuan, etc.

The last point is a mixed bag, I realize, as it will hurt corporate profits from exports and not help the markets. But it does indicate that, in a world beset by economic turmoil, the USA is viewed as the steadiest economy in the storm.
Hope it continues towards positive. For the most part my clients aren’t feeling the positive yet.
 
Riden Biden. 3/4 to 1 percent interest rate hike coming in July.


  • Adjusted for inflation, workers’ hourly wages fell 1% during the month and are down 3.6% from a year ago.
That's usually not a good thing. If I were a GOP strategist, I'd be all over that point, regardless of how much is the fault of the Dems.
 
Hope it continues towards positive. For the most part my clients aren’t feeling the positive yet.
Just received my 2nd quarter investment summary and I'm not seeing any positive either. The job situation is perplexing to me, many small and medium size businesses are closing or drastically cutting hours because of no quality workers to fill staff positions.

Working in the banking industry we have began to see some quality applicants, they want the sun and moon which is funny and in some cases we just let them walk. I tell my dedicated staff we will work short before I give in to unreasonable demands from entry level positions.
 
Just received my 2nd quarter investment summary and I'm not seeing any positive either. The job situation is perplexing to me, many small and medium size businesses are closing or drastically cutting hours because of no quality workers to fill staff positions.

Working in the banking industry we have began to see some quality applicants, they want the sun and moon which is funny and in some cases we just let them walk. I tell my dedicated staff we will work short before I give in to unreasonable demands from entry level positions.


My buddy's son just graduated from college with a data science background... had 6 job offers in the $120-140k range.

Either pay up for talent or be left behind.
 
Working in the banking industry we have began to see some quality applicants, they want the sun and moon which is funny and in some cases we just let them walk. I tell my dedicated staff we will work short before I give in to unreasonable demands from entry level positions.

I've heard tell from far too many people who should know better that wages are going to return to "normal"

Been hearing that for over a year now. Meanwhile, I literally can't hire anyone to make 40-50k a year IN AN ENTRY LEVEL (ISH) POSITION. I'm talking no college degree, walk and chew gum, pat your tummy and rub your head kind of qualified.
 
Riden Biden. 3/4 to 1 percent interest rate hike coming in July.

Yep. One question we have to ask is what amount of this inflation is due to the national debt incurred to fund wars of choice and tax cuts of 1981, 2001 and 2017, the amount of spending on PPP and Covid response?

The Covid response - the proverbial rainy day - spending was on top of putting the wars (Iraq II and Afghanistan) and tax cuts on the national credit card.
 
There is good news...

record jobs numbers,
gas prices trending downward every day for a month now (though still too high),
A couple thoughts:

The unemployment/job numbers are a fraud game that has been played for too long now by both sides. If someone just stops looking for a job they are no longer counted in these numbers. Because Dems set up a system where people made more sitting at home on unemployment than working you now have people who don't want to work - even if the extra unemployment goes away. You see this now when your favorite restaurant is closed one day during the middle of the week and when they are open they close off entire sections because they only have a couple servers.

Gas prices are still extraordinarily high and if you consider the current small drop to the rest of the year and last year, it's not good. In June gas prices went up 11.2% (a 60% increase from the same time in 2021), so to see it drop to the point where it is still over $4.60/gal today is better than over $5 but nowhere near good enough.

Today the report came in on inflation and it's 9.1%. Horrible. That will start to hit everything quickly. The Fed will absolutely have to raise interest rates again. This is all going to snowball and once winter hits and the price of heating your home skyrockets it's going to be ugly. So if you hang your hat on some of these "improvements" it's not going to end well and a lot of people are going to suffer.
 
I've heard tell from far too many people who should know better that wages are going to return to "normal"

Been hearing that for over a year now. Meanwhile, I literally can't hire anyone to make 40-50k a year IN AN ENTRY LEVEL (ISH) POSITION. I'm talking no college degree, walk and chew gum, pat your tummy and rub your head kind of qualified.
What line if work are you in? I find these conversations interesting.
I am in accounting for a large company. We are having trouble finding entry level types for anything less than 70. Plus they all want to work primarily remote.
 
  • Like
Reactions: vesuvius13
A couple thoughts:

The unemployment/job numbers are a fraud game that has been played for too long now by both sides. If someone just stops looking for a job they are no longer counted in these numbers.
There are other stats that support the idea that we are essentially in a full-employment situation, though. For example, surveying employers suggests that the number of unfilled spots is at record high numbers. Probably about two open jobs for every person seeking a job.

That drives up the compensation offers to fill those positions, which contributes to inflation due to increased labor costs. Yet it raises the ability of the newly-hired worker to keep up with inflation as well. So it's a mixed bag.
 
  • Like
Reactions: vesuvius13
A couple thoughts:

The unemployment/job numbers are a fraud game that has been played for too long now by both sides. If someone just stops looking for a job they are no longer counted in these numbers. Because Dems set up a system where people made more sitting at home on unemployment than working you now have people who don't want to work - even if the extra unemployment goes away. You see this now when your favorite restaurant is closed one day during the middle of the week and when they are open they close off entire sections because they only have a couple servers.

Gas prices are still extraordinarily high and if you consider the current small drop to the rest of the year and last year, it's not good. In June gas prices went up 11.2% (a 60% increase from the same time in 2021), so to see it drop to the point where it is still over $4.60/gal today is better than over $5 but nowhere near good enough.

Today the report came in on inflation and it's 9.1%. Horrible. That will start to hit everything quickly. The Fed will absolutely have to raise interest rates again. This is all going to snowball and once winter hits and the price of heating your home skyrockets it's going to be ugly. So if you hang your hat on some of these "improvements" it's not going to end well and a lot of people are going to suffer.
What would June 21 gas prices have been without the economic cratering that spring?
 
  • Like
Reactions: vesuvius13
What line if work are you in? I find these conversations interesting.
I am in accounting for a large company. We are having trouble finding entry level types for anything less than 70. Plus they all want to work primarily remote.
Insurance services, like an MGA though we do administer some internally created products tailored to banks/financial institutions.

Same thing on the remote, even for people who live 10 miles from the office.
 
Insurance services, like an MGA though we do administer some internally created products tailored to banks/financial institutions.

Same thing on the remote, even for people who live 10 miles from the office.
I remember a few years ago if we let our folks work from home 3-4 days per month they were thrilled. Now coming in one day per week is too much.

Work is getting done and more experienced employees are just fine. Something is lost as we try and train an onboard new employees. It may seem trite, but there is still something to be said for meeting in person, corporate culture, etc.
 
I remember a few years ago if we let our folks work from home 3-4 days per month they were thrilled. Now coming in one day per week is too much.

Work is getting done and more experienced employees are just fine. Something is lost as we try and train an onboard new employees. It may seem trite, but there is still something to be said for meeting in person, corporate culture, etc.
Yep. Training and onboarding are a cluster.
 
  • Like
Reactions: vesuvius13
That's the pure cynicism of a nihilist . . .

. . . what policy choices do you advocate?
Massive fed hikes and a time machine.


A pathetic withdrawal from Afghanistan and then weak kneed response to amassing troops on the Ukraine border (it depends on what type of incursion) was very likely contributory to the decision to invade Ukraine and susuquent “Putin price hike”. Plus it was an inflationary Covid boondoggle and a ridiculous infrastructure bill passed by Biden. His unnecessary continuance of Covid restrictions only exacerbated economic pandemic aftershocks. Not to mention a war on domestic oil and gas production and purposeful alienation of Saudi Arabia who he now has to come back hat in hand to and beg for assistance. And he should have been pressuring the Fed on day 1 to raise interest rates, their independence is a sham.

The guy is a clown and owns the vast majority of this financial cris we’re in. The economy was in an artificial artificial coma, all he had to do was lift all pandemic restrictions and policies and let it come back to life.
 
  • Like
Reactions: vesuvius13
That's the pure cynicism of a nihilist . . .

. . . what policy choices do you advocate?
No, it’s pointing out the incompetence and/or lies people were told. As for policy choices. Don’t print trillion of dollars. Don’t overreact and shut down economies to Covid. Cut back in government spending (all areas). Don’t becomes climate zealots and instead push to increase hydrocarbon production.

And lastly, the government should buy Bitcoin and adopt the Bitcoin standard and spend within its means. A couple things for you off the top of my head.
 
Last edited:
No, it’s pointing out the incompetence and/or lies people were told. As for policy choices. Don’t print trillion of dollars. Don’t overreact and shut down economies to Covid. Cut back in government spending (all areas). Don’t becomes climate zealots and instead push to increase hydrocarbon production. And lastly, the government should buy Bitcoin and adopt the Bitcoin standard and spend within its means. A couple things for you off the top of my head.
Rigghhhhhht. Lemme know when you have a rational thought . . . we can discuss it.
 
No, it’s pointing out the incompetence and/or lies people were told. As for policy choices. Don’t print trillion of dollars. Don’t overreact and shut down economies to Covid. Cut back in government spending (all areas). Don’t becomes climate zealots and instead push to increase hydrocarbon production. And lastly, the government should buy Bitcoin and adopt the Bitcoin standard and spend within its means. A couple things for you off the top of my head.
How long would it take to mine enough bitcoin to have a supply large enough to fill the capacity needed? Or would this be an issue at all?
 
Is this a helpful comment? All you've done is shut down the possibility, however remote, of any response from him to my question.
I would hope that it would encourage him to offer up a cogent response. He is a very defensive person, motivated by any perceived slight, so maybe he will surprise us.
 
You should. Study it first is my only advice, so you know what your buying. Saifedean book is a good starting point.
Thank you. I will read the book. I’ve read some and been following the price daily for almost a year. Honestly getting the concept through my thick skull has been tough.
 
ADVERTISEMENT
ADVERTISEMENT