(Topic ID: 306189)

So.... Inflation

By cnuts13

2 years ago


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  • Latest reply 2 years ago by Crash
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    #51 2 years ago

    Not to mention the blip on upwards pricing that the banning auction created.

    (It shouldn’t be ignored when discussing this imo.)

    I originally thought only a blip, but it’s a big blip.

    #52 2 years ago
    Quoted from Methos:

    nah - that has no impact. It's all due to cause most of the country was on their ass and couldn't hit the mall.

    Start making millions of pinball games and dumping them on the market and see what happens to pricing.

    #53 2 years ago
    Quoted from Chicoman:

    I read a finance article today that in the past 22 Months the US has printed $11 Trillion Dollars. Interest Rates will stay low because the Feds can't raise interest rates because they will obliterate Wall Street because even a .25% increase in interest rates will devastate Wall Street Earnings and send the market into the dumper. They should raise rates to help the US Consumer but they will take care of their friends on Wall Street before they take care of the US Consumer. Our country is in serious financial trouble because there is really no where for the Fed to go.
    Prepare of even crazier inflation....we've only hit the tip of the iceberg. We might experience some Deflation in the next 3-4 Months but after that it will be brutal inflation. Even worse than the 70's and that was really bad for those of us who can remember back then.

    Fed said the other day they have no choice but to raise the rates in 2022. get ready

    #54 2 years ago

    Highlights from a letter I received from a major domestic manufacturer of commercial office furniture. Omitted things that don’t really apply to pinball…
    Crude Oil - 56% increase last 12 mo
    Copper - 51% increase last 12 mo
    Steel - 300% increase since Q3 ‘20
    Aluminum - 61% increase last 12 mo
    Hardwood Lumber - 50% last 12 mo
    Resins - significant increase in chemicals & natural gas for processing
    Trucking - spot market pricing increase 25%-30%, full truckloads 8%-12%, LTL shipments 5%-7%

    I’ve been working with this particular manufacturer for over 20 years, and I don’t recall a time when they made it a point to send a letter outlining all of the increases in raw materials to help justify the multiple price increases this year.

    Hold on to your butts.

    #55 2 years ago
    Quoted from Azmodeus:

    Not to mention the blip on upwards pricing that the banning auction created.
    (It shouldn’t be ignored when discussing this imo.)
    I originally thought only a blip, but it’s a big blip.

    Agree, it attracted national attention and likely piqued the interest of buyers who didn’t even realize pinball still exists.

    #56 2 years ago
    Quoted from Chicoman:

    I read a finance article today that in the past 22 Months the US has printed $11 Trillion Dollars. Interest Rates will stay low because the Feds can't raise interest rates because they will obliterate Wall Street because even a .25% increase in interest rates will devastate Wall Street Earnings and send the market into the dumper. They should raise rates to help the US Consumer but they will take care of their friends on Wall Street before they take care of the US Consumer. Our country is in serious financial trouble because there is really no where for the Fed to go.
    Prepare of even crazier inflation....we've only hit the tip of the iceberg. We might experience some Deflation in the next 3-4 Months but after that it will be brutal inflation. Even worse than the 70's and that was really bad for those of us who can remember back then.

    The FAR bigger problem is that if the US allows interest rates to rise, they will not be able to service their own debt with other countries. Our debt is so huge, if interest rates went to 7 or 10%, I don't think the gov could pay the interest on their T bills. Unless they KEEP printing money. But if they do, the dollar will be devalued so much, other countries won't buy our debt (finance our drunken spending) and the country will go bankrupt.

    #57 2 years ago
    Quoted from CrazyLevi:

    A political / pricing thread?
    My favorite!

    How those Geico savings workin out for ya?

    #58 2 years ago
    Quoted from gdonovan:

    Start making millions of pinball games and dumping them on the market and see what happens to pricing.

    C’mon man!

    #60 2 years ago
    Quoted from sbmania:

    The FAR bigger problem is that if the US allows interest rates to rise, they will not be able to service their own debt with other countries. Our debt is so huge, if interest rates went to 7 or 10%, I don't think the gov could pay the interest on their T bills. Unless they KEEP printing money. But if they do, the dollar will be devalued so much, other countries won't buy our debt (finance our drunken spending) and the country will go bankrupt.

    Look, whatever devils came up with this are willing to pick us up by our heels and shake the coins out of our pockets, remove the gold from teeth and harvest the plasma from our blood.
    Absolute auction means just that, sell the boards and nails and the rats in the attic.
    When you are liqudating a Company sell it all!

    #61 2 years ago
    Quoted from MasterBlaster:

    Highlights from a letter I received from a major domestic manufacturer of commercial office furniture. Omitted things that don’t really apply to pinball…
    Crude Oil - 56% increase last 12 mo
    Copper - 51% increase last 12 mo
    Steel - 300% increase since Q3 ‘20
    Aluminum - 61% increase last 12 mo
    Hardwood Lumber - 50% last 12 mo
    Resins - significant increase in chemicals & natural gas for processing
    Trucking - spot market pricing increase 25%-30%, full truckloads 8%-12%, LTL shipments 5%-7%
    I’ve been working with this particular manufacturer for over 20 years, and I don’t recall a time when they made it a point to send a letter outlining all of the increases in raw materials to help justify the multiple price increases this year.
    Hold on to your butts.

    Facts like these are the canary in the coal mine, warning of danger. Unfortunately the canary has to die before the warnings are taken seriously.
    Many times its too late.

    #62 2 years ago

    Another issue is we as a society we expect things to happen right away, instant gratification. So when warnings are put out not many take them seriously because a lot of things are a delayed effect or take awhile to see the results.

    #63 2 years ago

    Inflation is ugly and let's not forget the US owes china more than a trillion dollar in debts and have purchase alot of US money hidden in vaults. You have to be careful because you never know what might happen these days with politics and conflicts between countries.

    #64 2 years ago
    Quoted from gdonovan:

    Have not been grocery shopping of late have you?

    Year over year inflation average of all items is 6.8%. Food is 6.1%. Gasoline is 58.1% Fuel Oil is 59.3% Piped Gas is 25.1% New Vehicles 11.1% Used cars and trucks 31.4% Energy overall 33.3%. From US Bureau of Labor Statistics: https://www.bls.gov/news.release/cpi.nr0.htm

    While I don't want to scoff at rising food costs (avg decreased in month of Nov, was the same through Sep. and Oct.), I think they are clearly being driven by those other sectors which I think are going to decrease....sometime hopefully soon god willing. There is so much uncertainty from COVID right now.

    16
    #65 2 years ago
    Quoted from Ribs:

    Year over year inflation average of all items is 6.8%. Food is 6.1%. Gasoline is 58.1% Fuel Oil is 59.3% Piped Gas is 25.1% New Vehicles 11.1% Used cars and trucks 31.4% Energy overall 33.3%. From US Bureau of Labor Statistics: https://www.bls.gov/news.release/cpi.nr0.htm
    While I don't want to scoff at rising food costs (avg decreased in month of Nov, was the same through Sep. and Oct.), I think they are clearly being driven by those other sectors which I think are going to decrease....sometime hopefully soon god willing. There is so much uncertainty from COVID right now.

    Covid has little to do with.

    The currect economic policies are disastrous to the American economy.

    #66 2 years ago
    Quoted from gdonovan:

    Covid has little to do with.
    The correct economic policies are disastrous to the American economy.

    You must have been born yesterday then because I have no idea how you could have lived through the last 2 years and concluded, "COVID has little to do with it".

    #67 2 years ago

    Time to start over people. I think Pat Lawler games may have been a signal. Remember the red buttons on the translites....

    view (resized).jpegview (resized).jpeg
    #68 2 years ago

    Lets just create a trillion dollar coin. That'll fix everything. Lol

    https://edition.cnn.com/2021/09/24/economy/trillion-dollar-coin-debt-ceiling/index.html

    #69 2 years ago
    Quoted from Ribs:

    You must have been born yesterday then because I have no idea how you could have lived through the last 2 years and concluded, "COVID has little to do with it".

    Lived through the Carter years, current economic polices are why we are here today.

    #71 2 years ago

    Works every time.

    150612-zimbabwe-dollars-jpo-433a_10a2ac6c47a6681d5013e65f8dc1f771.nbcnews-ux-2880-1000 (resized).jpg150612-zimbabwe-dollars-jpo-433a_10a2ac6c47a6681d5013e65f8dc1f771.nbcnews-ux-2880-1000 (resized).jpg
    #72 2 years ago
    Quoted from gdonovan:

    Works every time.
    [quoted image]

    I use a few of those as bookmarks.

    #73 2 years ago
    Quoted from sbmania:

    The FAR bigger problem is that if the US allows interest rates to rise, they will not be able to service their own debt with other countries. Our debt is so huge, if interest rates went to 7 or 10%, I don't think the gov could pay the interest on their T bills. Unless they KEEP printing money. But if they do, the dollar will be devalued so much, other countries won't buy our debt (finance our drunken spending) and the country will go bankrupt.

    That's inevitable anyway. It's just a matter of when.

    10
    #75 2 years ago
    Quoted from Wolfmarsh:

    The recommended cost of living adjustment is around +6% this year. I predict that lots of people won't get that bump in their pay.

    They fiddled with the math, as they do, to hide the truth. The true inflation figure is >10%.

    LGB!

    #76 2 years ago
    Quoted from IdahoRealtor:

    They fiddled with the math, as they do, to hide the truth. The true inflation figure is >10%.
    LGB!

    https://budgetmodel.wharton.upenn.edu/issues/2021/12/15/consumption-under-inflation-costs

    “inflation in 2021 will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in recent previous years (2019 or 2020).”

    #77 2 years ago
    Quoted from gdonovan:

    https://budgetmodel.wharton.upenn.edu/issues/2021/12/15/consumption-under-inflation-costs
    “inflation in 2021 will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in recent previous years (2019 or 2020).”

    And THAT'S if you don't buy any pinball machines!!

    10
    #78 2 years ago
    Quoted from gdonovan:

    https://budgetmodel.wharton.upenn.edu/issues/2021/12/15/consumption-under-inflation-costs
    “inflation in 2021 will require the average U.S. household to spend around $3,500 more in 2021 to achieve the same level of consumption of goods and services as in recent previous years (2019 or 2020).”

    I'm telling you they are not using the same formula as the last time we had this problem. I can also tell you 3.8% price increase for shelter is a lie. It's similar to how they lie about the unemployment rate by reclassifying millions of people as "out of the workforce". Gotta use your head sometimes and not just believe everything they tell you.

    #79 2 years ago
    Quoted from IdahoRealtor:

    I'm telling you they are not using the same formula as the last time we had this problem. I can also tell you 3.8% price increase for shelter is a lie. It's similar to how they lie about the unemployment rate by reclassifying millions of people as "out of the workforce". Gotta use your head sometimes and not just believe everything they tell you.

    Fuel has doubled in CT and my supply costs at work have almost done the same.

    #80 2 years ago
    Quoted from IdahoRealtor:

    I'm telling you they are not using the same formula as the last time we had this problem. I can also tell you 3.8% price increase for shelter is a lie. It's similar to how they lie about the unemployment rate by reclassifying millions of people as "out of the workforce". Gotta use your head sometimes and not just believe everything they tell you.

    Exactly. It’s all a lie and about keeping control of the masses...

    #81 2 years ago
    Quoted from gdonovan:

    Covid has little to do with.
    The currect economic policies are disastrous to the American economy.

    Yea the most disruptive global event in modern history has little to do with it. Prices are going up mostly due to shortages, difficulties in supply chains, sudden increased demand, lack of workers. All these things in theory should be temporary, yes there is an element of overdue inflation due to artificially low interest rates and money from stimulus, but those are not the main reasons why things like cars and pinball machines are expensive right now.

    #82 2 years ago
    Quoted from JodyG:

    I am working on cornering the frozen concentrated orange juice (FCOJ) market right now.

    Where the hell is beaks!!

    #83 2 years ago

    I trust the government with my health and my wealth.

    #84 2 years ago
    Quoted from nicoy3k:

    Yea the most disruptive global event in modern history has little to do with it. Prices are going up mostly due to shortages, difficulties in supply chains, sudden increased demand, lack of workers. All these things in theory should be temporary, yes there is an element of overdue inflation due to artificially low interest rates and money from stimulus, but those are not the main reasons why things like cars and pinball machines are expensive right now.

    I wish you luck.

    #85 2 years ago
    Quoted from gdonovan:

    I wish you luck.

    To be fair, you may be underselling the whole “once in a century health crisis that completely changed the world in pretty much every conceivable way” thing just a TEENSY bit, no?

    18
    #86 2 years ago
    Quoted from CrazyLevi:

    To be fair, you may be underselling the whole “once in a century health crisis that completely changed the world in pretty much every conceivable way” thing just a TEENSY bit, no?

    Covid is not the reason Americas petroleum pipelines are being shut down.

    #87 2 years ago
    Quoted from gdonovan:

    Covid is not the reason Americas petroleum pipelines are being shut down.

    And that’s not the reason for all of the world’s woes either, is it?

    Not sure if you notice but there’s a lot of
    Stuff going on !!!

    We’ll just have to agree to disagree on this one.

    #88 2 years ago
    Quoted from CrazyLevi:

    And that’s not the reason for all of the world’s woes either, is it?
    Not sure if you notice but there’s a lot of
    Stuff going on !!!
    We’ll just have to agree to disagree on this one.

    I thought we were talking about inflation? Here.

    -2
    #89 2 years ago

    I'm in healthcare management I suspect I have a greater handle on the covid situation than the average individual.

    #90 2 years ago
    Quoted from gdonovan:

    I'm in healthcare management I suspect I have a greater handle on the covid situation than the average individual.

    Nah.

    Everybody is an expert!

    Pretty sure everybody here has a reason or
    Two why their grasp on worldwide pandemics and global economics is better than the average individual.

    #91 2 years ago
    Quoted from CrazyLevi:

    Nah.
    Everybody is an expert!

    Good luck with that.

    #92 2 years ago
    Quoted from CrazyLevi:

    Everybody is an expert!

    Especially in the corona thread.

    #93 2 years ago

    Today, non sequitur theater presents:

    Good Luck With That

    6D8610F7-1D44-47C7-906A-3FD51844AD42 (resized).jpeg6D8610F7-1D44-47C7-906A-3FD51844AD42 (resized).jpeg

    #94 2 years ago
    Quoted from CrazyLevi:

    Today non sequitur theater presents:
    Good Luck With That
    [quoted image]

    clearly the asteroid impact didnt effect anything! It was absolutely the policies of the mammals hiding in the ground.

    #95 2 years ago

    I'll echo the "you need an econ class" sentiment. They removed the FRACTIONAL part of the fractional reserve system. We are in completely uncharted territory at this point.

    Zero reserve banking means inflation. There is no way around it.

    https://www.federalreserve.gov/monetarypolicy/reservereq.htm

    #96 2 years ago
    Quoted from Anony:

    I'll echo the "you need an econ class" sentiment. They removed the FRACTIONAL part of the fractional reserve system. We are in completely uncharted territory at this point.
    Zero reserve banking means inflation. There is no way around it.
    https://www.federalreserve.gov/monetarypolicy/reservereq.htm

    It's difficult to get a quality education these days. I recall a friendly argument I had with a Purdue grad. I said our gov had a spending problem, a wasteful and corrupt one at that. He disagreed and said "If you took Econ 101 you'd know that every dollar the gov spends stimulates two dollars of economic activity". There you have it. Spend away. He also claimed there's consensus science on global warming.

    #97 2 years ago
    Quoted from JodyG:

    We also printed more money in the month of June 2020 than we did for the entire period from 1776 to 1979 combined. Inflation is inevitable when you start paving the streets with newly printed money.

    This is all you need to know as to why we have inflation. Make more of something, the value of that existing something goes down. Make an absurd amount of something, the value of that existing something goes down even more. Applies to tomatoes, cars, pinball machines, Amibos, Nintendo cartridges and as it turns out, US currency.

    #98 2 years ago

    Did your Econ class have a chapter on the effects of a global pandemic on the world economy?

    10
    #99 2 years ago

    Greetings from Canada!!! Yes this inflation is real & I see a heck of alot more inflation, due to pressures from the already tight labor market demanding higher wages in the new year when new contracts and agreements will be in effect. This will boost more even more inflation and that's when things will get intresting.

    The thing that started this all was the 2008 financial mess and central banks creating new scams like quantative easing, zero intrest rates, negative intrest rates, huge defecits, etc.... Those ponzi type schemes created by central banks became so addictive that we as a society can only grow our economy And create wealth with these scams. As a result we are starting to see the light and there will be even a bigger price to pay for all of this when it comes to implode on us soon... the sad part is now ordinary folks are also plowing money into stocks, equities, property, land, classic cars and anything deemed hard. As a result that's were the money as been made since 2008 crisis. We have to play the wall street casino or buy an asset at sky high prices hoping some other idiot will pay more for it tommorow. Since 2008 we also now have created crypto currencies, net fungible tokens and "virtual invisible" assets lol that don't actually exist??? and all of that garbage is now being used to sustain or better our spending problem. Problem here is central banks need to wake up..... Here ex#1 explained.... If inflation is 6% and I'm a conservative investor that's not greedy but also not stupid, and I managed to save $10,000 this year and I want to park it somewhere safe and feel the wall street casinos, real estate, cryptos isn't for me....Therefore since governments, corporations, and consumers have spending problems and there's a demand to borrow. A bond holder therefore should get his inflation money back (6%) he should get compensated for tax liabilities let's say (+2%) and a little return no greed here let's say( 2-3%) so all together that 1yr bond or obligation should pay 10-11% and that's not being greedy. That the problem. Folks don't have many choices. 1% bonds are a joke. And let's face it, 11% bond yield is what's needed to bring us to reality in a 6% inflation environment. If it's to expensive for govt to operate, then they need to spend less and balance there books or create surpluses for a change... For broke consumers buying real estate, artwork, pinballs, cars, land on borrowed cheap money, 11% or higher rates will get them to rethink about there real priorities!!! eventually the dollar will regain purchasing power for savers and workers.... Inflation is another hidden tax on workers and savers ... governments and central banks need to wake up before the next real great depression is made through all of these short term stupid policies being used today. The excess massive borrowing must stop now and The war on savers must end now.

    #100 2 years ago

    Inflation is like a snow ball racing down hill. Prices in one sector go up, and
    it doesn't take much to get started, such as fuel or shipping currently. Everyone that uses
    fuel or ships things has to raise their prices to stay in business and make
    a decent profit. Another important aspect in the cost of doing business
    is the number and severity of rules that have to be followed, high taxes
    and fees. None of which contribute to the bottom line.

    Other things are the massive trade imbalance that everyone just seems to
    accept now. BIG mistake!

    Finally, interest rates have been artificially low for decades now to supposedly
    stimulate business. Another massive mistake. Companies and people borrow
    far more than they need to and when inflation takes hold, as it is now, those
    companies & people go bankrupt. Remember the housing loan melt down
    a few years ago? Yeah, that on a wider scale. Very low interest rates
    indicate a sick economy propped up by gov't. Interest rates should be in the
    4 to 6% rate on average.

    And the icing on the cake is the Fed printing money like crazy. That devalues
    exisiting money faster than anything. Buckle your seat belts guys, rough
    sailing ahead.
    Steve

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