But having your house paid off in 10 years because your salary ended up being 3x your mortgage due to rampant inflation must be nice. Sidebar: My dad still complains about being on the back end of the Boomer years and buying his first house when mortgage rates were like 18% in the early 80s.
We don't hear about 3% GDP growth any more
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Crude Oil Mar 22 (CL=F)
NY Mercantile - NY Mercantile Delayed Price. Currency in USDAdd to watchlist
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As of 02:15PM EST. Market open.
Thanks Joe! though I do own several oil stocks so those have gone way up thanks to Joe.
This is why Democrats are so economically illiterate.
You don't understand incentives and disincentives.
You don't understand that companies will not spend to expand production if the government is making their industry more difficult to operate. So, they raise prices to make up for any future fall in production. That's inflationary from Day 1.
If you think it's only coincidence that gas prices jumped a dollar practically overnight when Biden became President, you are not living in the real world.
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What's the matter, twentyIQ? Too ignorant to even address the issue?
Take an economics class and get back to me.
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And that's why the Dems don't mind inflation - in fact, they love it.Well, inflation actually helps with fixed debt payments right? You get pay off the same amount of debt with money that is worth less than when it was borrowed.
Here's a summary of how it impacts bonds:
Here’s how rising interest rates may affect your bond portfolio in retirement
Many retirees rely on bonds for income and to reduce volatility. Here’s how the Fed’s expected interest rate hikes may affect bond portfolios.www.cnbc.com
It raises tax revenues to supposedly reduce the deficit, and, in theory, the national debt. It doesn't, because they just use increased revenue to spend even more.
LMAO! Do you have any idea how difficult it was to find a decent job before Reagan?
There's a reason houses were cheaper then. And I can assure you, college was more expensive than a pack of Marlboros. It may seem cheap by today's dollars, but I lived like a pauper to afford college.
I'm a helluva lot more jealous of students today and the career opportunities they have. The home computer didn't come along until the late 80s in a big way and the internet wasn't even thought of in the 70s.
In '82, I bought a small bedroom ranch for $35k and the interest rate was 15% - with a VA loan.
I was squarely in the middle of the Baby Boom. I wasn't 30 yet for another 2 years in '82.
Don't act like wages just suddenly jumped overnight. I worked years before I made $40k per year - that's a huge $20/hour for you math geniuses. Not exactly enough to pay off a house in 10 years.
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Lol, yeah no.
Why would I lie about something so trivial as how much I paid for propane?
To pawn the right... am I right?
Which is $39 more than what you're worth now.
But thanks for pointing out an obvious typo. You really got me on that one. Sick burn. Sick.
Tell me you've never looked up how much college prices have gone up compared to general inflation without telling me you've never looked it up.
In the 70s you could literally pay your tuition by working a summer job. I know more than one person that did. You might have been poor while in the 18-22 range, but you didn't come out paying the equivalent of a 2nd mortgage.
Are not prices supply and demand? Not demand a year from now, not supply a year from now. Supply and demand TODAY. Futures prices might rise, but those aren't the final price.
Are you really saying if demand were low and supply high right this second oil prices would be through the roof because of projections of a reversal in 6 months?
Here is a good stat on housing:
www.realestatewitch.com
We found that since 1965, average home values have skyrocketed from $171,942 to $374,900 — a 118% increase. Meanwhile, median household income crept up just 15%, from $59,920 to $69,178 in 2021-inflation-adjusted dollars.
U.S. House Prices Are Rising Exponentially Faster Than Income (2021 Data)
Across the U.S., home prices have outpaced income. Our data reveals how the American dream of homeownership is becoming a nightmare.
www.realestatewitch.com
I was having some fun with the typo. And I see you went back and corrected it!
Don't take yourself so seriously, danc. No one else does.
No, you could not 'literally' pay your tuition by working a summer job. Number 1, "summer jobs' were not easy to come by. And certainly not enough to pay for college and living expenses. I know. I tried. I was there. You weren't, so stop lecturing me about the 70s.
No, I didn't come out with a big loan. I joined the Army and got the GI Bill. And I worked. And I still had to go to a regional IU campus for a semester because I ran out of money.
I did correct the typo because small people like yourselves make it an issue.
It's the only thing you've got, so get your jollies while you can.
Do you not understand raising prices now, because supply will be low in the future AND COST MORE TO OBTAIN, thus hurting profit margins?
Don't tell LSMFT - he thinks we all paid off our mortgages in the 70s because we made so much money.Here is a good stat on housing:
We found that since 1965, average home values have skyrocketed from $171,942 to $374,900 — a 118% increase. Meanwhile, median household income crept up just 15%, from $59,920 to $69,178 in 2021-inflation-adjusted dollars.
U.S. House Prices Are Rising Exponentially Faster Than Income (2021 Data)
Across the U.S., home prices have outpaced income. Our data reveals how the American dream of homeownership is becoming a nightmare.
You're right and of course he's wrong. As usual. Research isn't his thing. He just asserts "facts" (pulled, typically, from his rectum) and then relies on garbage sources like Gateway Pundit and the Daily Wire as "support."
College costs have risen at nearly 5x the rate of inflation, report finds
The average cost of tuition, fees and other expenses at higher education institutions are rising at a much faster rate than inflation, according to a recent study.
Of course, you can never follow a thread.You're right and of course he's wrong. As usual. Research isn't his thing. He just asserts "facts" (pulled, typically, from his rectum) and then relies on garbage sources like Gateway Pundit and the Daily Wire as "support."
College costs have risen at nearly 5x the rate of inflation, report finds
The average cost of tuition, fees and other expenses at higher education institutions are rising at a much faster rate than inflation, according to a recent study.www.foxbusiness.com
What did wages do during that time, dope?
Increased tax revenues as a result of inflation only makes non-descretionary government spending (Social Security, Medicare, Medicaid, debt interest payments) which makes up the great majority of federal government spending less effective.
Even Democrats understand that a Social Security check which buys less due to inflation is a net loss to their constituents who rely on Social Security for most of their retirement income.
They don't care. They just care about setting up another government program so they can crow about how much they care about people, while destroying even more of our national social fabric.
Your second paragraph is not true. SS checks are indexed to inflation. So, if inflation goes up, so do their checks. And, since Medicare Part B goes up virtually every year, they can pay the government more toward Medicare. Win-Win! lol
Social Security up ticks have historically lagged behind inflation.
As to Medicare and health costs in general, the increasing cost of health care has exceeded yearly inflation for decades.
Or course it lags - increases are based on last year's inflation rate.
The government pretty much sets the prices it pays for medical services and any doctor that accepts Medicare has to take it.
You're wrong, danc. Again.
"College costs have increased by 169% over the past four decades while earnings for young adult workers have increased by just 19%."
I thought everybody knew college was much more affordable decades ago than today. You should come out from under that rock more often.
College costs have increased by 169% since 1980—but pay for young workers is up by just 19%: Georgetown report
"It is far better to be born rich and white than smart and poor in America," reads a recent report from Georgetown University.
Price Of College Increasing Almost 8 Times Faster Than Wages
The cost to attend a university increased nearly 8x faster than wages did. While the cost of a four-year degree exploded to $104,480, real median wages only went from $54,042 to $59,039 between 1989 and 2016. There is a disconnect between the rising costs of education and the flattening of wages.
www.forbes.com
I have DANC on ignore because, well, I’m smart. But looking at responses it appears he is unaware that both housing and colleges costs have far outpaced inflation. How can anyone be that ignorant of something so obvious and easy to research? My ignore decision has been validated once again.You're wrong, danc. Again.
"College costs have increased by 169% over the past four decades while earnings for young adult workers have increased by just 19%."
I thought everybody knew college was much more affordable decades ago than today. You should come out from under that rock more often.
College costs have increased by 169% since 1980—but pay for young workers is up by just 19%: Georgetown report
"It is far better to be born rich and white than smart and poor in America," reads a recent report from Georgetown University.
Price Of College Increasing Almost 8 Times Faster Than Wages
The cost to attend a university increased nearly 8x faster than wages did. While the cost of a four-year degree exploded to $104,480, real median wages only went from $54,042 to $59,039 between 1989 and 2016. There is a disconnect between the rising costs of education and the flattening of wages.
You obviously don't have me on ignore.
You and Bowelmania cannot follow a thread. I never said the cost of education hasn't increated. But LSMFT was saying how much wages had increased in the 70s and how easy it was to pay off a house.
The cost of education has always been expensive, relative to an 18 year old's earnings. Anyone who argues that isn't living in reality or had to pay their own way in college. Of course, it's not expensive when mommy and daddy are footing the bill.
He's full of shit and you and Bowel are putting up straw men because..... well, I guess you just have some kind of fetish for me.
And you're not smart, although compared to Bowelmania, you're a freakin' genius.
Follow the thread, Bowel. Stop with the strawman. It just makes you look dumber than you already are.You're wrong, danc. Again.
"College costs have increased by 169% over the past four decades while earnings for young adult workers have increased by just 19%."
I thought everybody knew college was much more affordable decades ago than today. You should come out from under that rock more often.
College costs have increased by 169% since 1980—but pay for young workers is up by just 19%: Georgetown report
"It is far better to be born rich and white than smart and poor in America," reads a recent report from Georgetown University.
Price Of College Increasing Almost 8 Times Faster Than Wages
The cost to attend a university increased nearly 8x faster than wages did. While the cost of a four-year degree exploded to $104,480, real median wages only went from $54,042 to $59,039 between 1989 and 2016. There is a disconnect between the rising costs of education and the flattening of wages.
I’m really sorry you couldn’t get a job at the mills, mines, or Delco plants to pay your tuition as you went like many of the 65-70 yr olds I know. They even took that work study gig on campus to offset living expenses or got an RA job if they were lucky and came out of schools like IU & Ball St fully debt free.
Worked at Chrysler Foundry in Indy between Freshman and Soph. years.
Later, my entire GI Bill benefit amounted to less than $7K
So, if one would put everyone else on ignore, he would be the smartest one of all?
Go away, little boy. Why don't you get one of the millions of jobs available and work your way though school.
You're the kind who thinks they should get out of school and immediately make the same salaries their parents spent years to attain. But you want it all now because you took out massive loans because you couldn't defer gratification enough to pay for you own schooling.
And now you want the government to pick up the tab.
Go to Purdue, where tuition hasn't changed in 5 years. You'd be a perfect fit there.
Strawman? Not quite, danc.
College decades ago didn't "seem" cheap by today's dollars. It was cheap by today's dollars. And much more affordable by both yesterday's and today's dollars.
Then you foolishly suggested in this post . . .
. . . that wages had kept up with the rising costs. Of course they haven't, as reflected in the links in Post #109.
Come out from under that rock you're living under, danc.
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I understand why some do it, but I don't use the "ignore" feature. And, with respect to danc, yes, he's astonishingly ignorant but also enormously entertaining.
DANC put me on ignore because I was too mean, I guess. I'm not sure how the whole ignore thing works, but I kind of hope that someday he'll take me off and about 500 alerts will show up under that little bell icon in the upper right hand corner, signifying all the sarcastic laughing emojis and hilarious responses I have posted to his stupidity.
Someone’s a grumpy Gus this morning.
Being almost 40 with 3 degrees already, I don’t think I’m going to get a 2nd job to get a 4th. I don’t think the Mrs would appreciate it.
It’s also cute how you’re willing to die on the hill of the objectively wrong notion that college wasn’t super cheap relative to incomes 50 years ago vs now. And instead of reading one of the many, many, many, available sources for it, you go all non sequitor with saying I expected to make money like my parents out of the chute or that I want government to pay for college for all. Which is false, but I digress.
And just to be clear on it. I came out of law school owing $165k in loans. If I had waited long enough to pay for all of that I effectively never would’ve been able to afford to go. College is an investment in yourself if you treat it right.
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