HemiHauler
Well-Known Member
Aren't we all ;-)
Janet Yellen blames Americans' 'splurging' for record-high inflation
- Thread starter Kyle
- Start date
Aren't we all ;-)
Who? Because I don't know anyone like that. Not a friend, not a family member, not a neighbor. In fact it's just the opposite - people who lived pretty high on the hog are tightening up.
Do you personally know anyone who's buying $30,000 Taylor Swift concert tickets? Anyone getting a Lexus for Christmas?
I'm still waiting for the chips I ordered. May be Feb... may be April. I get a different notification every week.I was under the impression, especially from the emptyness of dealer lots, that there was a shortage of new vehicles due to a shortage of microprocessors and support chips for new cars and trucks.
Did this end?
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I get really worn out with this. "Oh, compared to Ethiopian villagers those American kids scrounging in the trash for food have it good." It's elitist bullshit that the Democrats are so famous for.
HemiHauler
Well-Known Member
I really don't care.
oooo....I wanna be as cool and super-edgy like you when I grow up.
When?!!! More like If.
OccamsRazor
Well-Known Member
Why does everyone answer with "I PERSONALLY don't know anyone....." Do you look around when you are away from your home? Do you read or listen to the news? Do you not see a great many people driving around in new cars? Do you not watch sporting events? Do you not hear or read about sold-out performances?
HemiHauler
Well-Known Member
It’s a fairly normal pathology to look around what is close to oneself to make observations like this.
“If something is/isn’t happening to someone I know, I have enough data to draw conclusions rather than correctly frame it as anecdotal.”
LightRoasted
If I may ...
For your consideration ...
I would say that people are not spending more, in total, ie exceeding their incomes. But spending more for individual items with their budgets force limiting their spending. Spending more devalued dollars, and getting less goods/services with it.
Stuff isn't costing more, per se. It is the dollar losing value, thereby by giving the impression of spending more. When it takes more dollars to buy something because of the dollar losing value, people will have less to save because their wages have not correlatingly increased to offset the dollar's lost value. Prices going up represent the dollar losing value.
I would say that people are not spending more, in total, ie exceeding their incomes. But spending more for individual items with their budgets force limiting their spending. Spending more devalued dollars, and getting less goods/services with it.
Distinction Without A Difference
for the average Shopper
$ 100 dollars no longer fills my shopping cart $ 150 or 200 is required for the same items
Hijinx
Well-Known Member
I more or less budget myself to the money I use, just myself now not the household budget, and my budget used to be $100 dollars a week , now it is $150 and it sometimes runs out before the week is over. If someone had told me 15 years ago that would be spending $165 dollars for the phone bill $185 dollars for the internet and TV, and $70 dollars for a tank of gas I would have called them a liar. My wife and I have a cell phone each and a wireless in the house. I paid $3.59 a lb. for corned ham this year. Another record breaking price, and I heard some places were charging up to $5.00.
Well, Forbes and other sources show what I have seen - FEWER new car sales this year, and FEWER new car sales from the year before.
I have no idea what packed sports events has anything to do with discretionary income or some unseen rebound in the economy - you could double the price of booze and cigs and homeless people will still buy them.
What I DO know - ALONG with my own two eyes - are simple things that I have priced, observed, bought in abundance on sale over the past twenty to thirty years - many items and how much they cost and how much they cost MORE this year and the year before. Every day items like butter, milk, cheese, bread, eggs. beef, chicken, pork, bacon, fresh produce and canned vegetables - stuff that once went for 88 cents a can is now on sale for TWICE that. Things like taking my family out, and entrees which used to be advertised for 9.95 are now 12.95. All down the line.
So I am not sure what point you are trying to make, but if it's somehow that the economy is doing great and everyone has money to burn, you're gonna have to come up with better than that. I know my family's budget, and I know what I am paying NOW.
Of course you do, or you'd go to another thread.
I think most people would call that, paying more for something, synonymous with "it costs more".
LightRoasted
If I may ...
For your consideration ...
Yes, things take more dollars to acquire. But people do not realize, nor understand, it is the dollar losing value that causes them to spend more on what they used to get for less.
The distinction is the dollar losing value, the difference is their lack of understanding as to the why.
The dollar is losing value on some things and gaining value on others. Why, do you leave this little fact out?
Who cares WHY? When your power goes out, does it matter if a tree fell on the line or a transformer blew? What I’m dealing with is loonies telling me my power is not only ON but it’s also better than it used to be.
Obviously LR does.
And I don't care that you don't care.