[OhioBuckeye]

Do you have any idea’s why it’s so high?

[Stu from NYC]

Originally Posted by Blueblaze

OK, I'll play. Name something that's only up 15%.

Will raising rates end inflation? That's the only thing the FED is willing to do, but that's not the real solution. The real solution is to STOP PRINTING FAKE MONEY. In fact, in the history of the world, the only thing that's ever solved 50% inflation is to ISSUE A NEW CURRENCY and then DON'T INFLATE IT.

Yes, raising the rate the FED charges banks for their fake money, discourages banks from taking it, but not enough to convince them to quit paying the FED and start paying YOU. THAT would allow a real "soft landing", by attracting REAL INVESTMENT. Or, at least it would, if inflation wasn't already at these astronomic levels. At this point, I don't see any solution.

Mortgage rates are now over 6%. Is your savings account making any more than it was a year ago? There's your clue. For the 100 years prior to the 2008 crash, when Obama effectively nationalized the banking system, you could get 4.25% in any passbook savings account, through inflation, depression, recession, and what-have you. The banks WANTED and NEEDED your money. Now they don't. How do we recover from a banking system that doesn't want investment from the real economy?

Agree 100%. The fed is doing what it can to stop inflation. The real culprit is just adding fuel to the fire

[Sherry8bal]

They'll say anything to make things look better when it definitely isn't. Food and gas are the major expenditures for most families.

[rsmurano]

Not true, it’s year over year not just 8 months. Actually the inflation is much worse month over month, I heard it’s over 11%. Gas was low years ago because we let the companies drill, we were an exporter of oil, compared to now which we are dependent on our enemies to drill oil for us. Gas is down now because we are depleting our national reserves which we shouldn’t be doing.
The reason why the market tanked yesterday was because they were looking for a bigger drop in inflation and it was higher than anticipated, and that’s after the federal reserve started raising rates. This month the federal reserve is going to start selling $90b of assets which will start to have a negative aspect to the economy.
I heard from an ex federal reserve member on TV that the only way to get inflation down is to have interest rates at the same level as inflation. If they raise rates .75-1%, we will be in a deeper recession

[Rainger99]

The good news is that Social Security recipients may receive an 8.7% cost-of-living adjustment next year. That would be the largest increase since 1982!

The average recipient will receive about $144 a month extra! Now we can all go to Sawgrass!

[golfing eagles]

Originally Posted by Stu from NYC

You would have to be able to think first.

I do so hope that was a general statement and not directed at me, I'd hate to have to leave the Village of Stu

[Stu from NYC]

Originally Posted by golfing eagles

I do so hope that was a general statement and not directed at me, I'd hate to have to leave the Village of Stu

It was not directed at you at all. As long as rent is paid on time you are still a resident and entitled to all the amenities we have to offer that we have not yet taken away.

[golfing eagles]

Originally Posted by Stu from NYC

It was not directed at you at all. As long as rent is paid on time you are still a resident and entitled to all the amenities we have to offer that we have not yet taken away.

But should I spend hours and hours comparing my amenity fee to my neighbors then whine about a $2.98 difference?????

[La lamy]

Originally Posted by Rainger99

What have interest rates been in Canada the past 10 years??

If you can only invest $6000, even at 5% interest (haven’t seen that high a rate in years), you would only get $300.

And is that just interest that is tax free or is it capital gains and dividends?

Canada's interest rates are very similar to US. ALL interest accrued in whichever way you choose (including dividends and capital gains) are tax free in a TFSA. $6000 a year can add up and make a difference, but we also have RRSP vehicles that are a tax deductible vehicle. Google it for more info if you wish.

[Stu from NYC]

Originally Posted by golfing eagles

But should I spend hours and hours comparing my amenity fee to my neighbors then whine about a $2.98 difference?????

Maybe not hours and hours but perhaps you should spend a little time. Can we compromise at 5 minutes once a week?

[golfing eagles]

Originally Posted by Stu from NYC

Maybe not hours and hours but perhaps you should spend a little time. Can we compromise at 5 minutes once a week?

59.6 cents/minute/week? Probably a bit overpriced for that nonsense

[melpetezrinski]

Originally Posted by CoachKandSportsguy

With oil declining from peak, there will be less inflation pressure on goods, however, labor inflation lags goods / rent inflation and now we are seeing the effects of labor inflation, and the only way to reduce labor inflation is to reduce job growth, which when due to a pandemic and those in their 60's retiring early, results in a labor shortage, means that the Fed may have to follow the Volker formula, and many are betting that won't happen. . .

Just remember that your house is NOT an investment. there is no revenue generated by it and there are only expenses associated with it. a car is also not an investment, just future junk. And in the villages, houses can come close to future junk with no wills/trusts, etc

An investment must generate revenue and can't have expenses? So, a technology ETF that generally doesn't pay dividends and has an expense ratio is NOT an investment? I can certainly understand the "house is not an investment" perspective but I've always considered my primary homes as investments. If I need to conform to your definition, I view capital appreciation as the revenue and I would be paying MORE of those expenses if I rented.

[tophcfa]

Originally Posted by Rainger99

The good news is that Social Security recipients may receive an 8.7% cost-of-living adjustment next year.

And the bad news is that will make the social security fund go dry even sooner.

[kkingston57]

Originally Posted by Tvflguy

For those who may have spare money to invest, check into iBonds. Max is $10k per individual. 9.2% interest annually for next six months. Gvt re evaluates interest every six months. A solid investment and
way to safely park $10k per person with very good return.

Google I bond for details. Only individuals can purchase thru US Treasury Direct Website.

Only "problem" is that you can only invest 10k per person and 15K if you overpay estimated taxes and you can add $5K if your tax refund is 5K or more.

[kkingston57]

Originally Posted by Blueblaze

Can anyone name anything that's ONLY 8.3% higher than last year?

It looks more like 50%, when I walk the aisles at Wal-Mart, or fill my tank, or read my tax appraisal, or pay my insurance bill.

But Good News Everybody! My Social Security check went up 7% this year! (But then they hiked my Medicare bill 20%, so there's that).

Gee, you don't think this could be related somehow to paying everybody a bunch of monopoly money to take a year off and hide in their basement from Covid, do you? Whodathunk that would cause problems?

I'm trying think of a country that ever survived 50% inflation, and I'm drawing a blank. Maybe our gooberment just "identifies" with 8.3%! Everybody knows, that's not the same as lying, right? That could work, right?

Go to Aldi, there prices have stayed the same for many items, particularly dairy products.

Also warehouse stores still very fairly priced. Still can get a fully cooked chicken for $4.99 at Sams and BJ. Bought jumbo shrimp for <$10 a pound. $1.50 for head of lettuce. Don't forget the 1/4 pound hot dog with a drink for $1.50