No complaint here either portfolio is hopping.
Inflation is here
- Thread starter Racecarfan2
- Start date
- Status
No complaint here either portfolio is hopping.
Went to a meeting of the owners of one of the 4 plex developments I own,, and they were happy the rents went over 4 year s from about $650.00 per month to $1,000.00 per month. I hade to explain to them property taxes have sky rocked ,labor prices and parts costs are skyrocketing as well ,, so do the math we are probably behind is the profit area we are at best breaking even.
Last edited:
Actually the price of something is driven by supply and demand and what the consumer is willing to pay. People are complaining about the price of gas yet I see boats, house trailers and huge Rvs being driven around, people doing their motor sports things etc.
It is nice to have an ample supply of TP especially when it is needed.
Two different groups of people? maybe not always, but I wonder if there isn’t two groups here.
A donation? Sure, I pay taxes every day I'm working, and inflation, AKA the "stealth tax", is taking "donations" out of anything I've worked to save since I was 11 years old & started working, 46 years ago! I still give to charity, too, but still find time to run off the "independent contractors" dealing out of their cars in my neighborhood.
I’ve only been “unemployed “ about 5 months since I was 12 years old
People do not know how to live within their means nor are they allowed to in many cases.
During my life I have been poor in the past and per some misguided individuals supposedly in the upper 10%
I can understand what people go through and find it disgusting that “being poor” is being made illegal and your ability to live within your means and be poor is becoming more impossible.
It’s not about “hand outs” which inevitably fail, it’s about cost of living moving up even in places it never has. It used to be legal and possible to avoid certain costs of having your own bed to sleep in.
My grandparents lived in upper Michigan on the family hobby farm in amongst the spruce trees “off the land” much of time , they were dirt poor but always could count on the land in hard times.
The way they lived is nearly impossible now in today’s world as they would have had their land taken for one reason or another .
Our country is failing a generation
Taxpayers pockets are owned by the tax collectors.
If current times find you in financial trouble, regardless of how you got there, I wish you luck.
If you have made poor financial decisions in the past, perhaps you might learn from them. Those lessons are bought and paid for.
For those of you who are able to help others, please do so if you see fit. Help comes in many ways...
If you have made poor financial decisions in the past, perhaps you might learn from them. Those lessons are bought and paid for.
For those of you who are able to help others, please do so if you see fit. Help comes in many ways...
D
Deleted member 89374
History is a great teacher. Taking a look at how people lived during the Cold War in the Soviet Block can be a good indicator of what's to be expected if nothing changes for the better. Human behavior cannot be legislated, only shaped. Several generations in western countries were thought that consumerism is the way things are supposed to be in a good economy. That is not working out great in the current economic climate. I could go on and on, however, I'm sure you get the idea. Spend less than you make, don't borrow, and don't buy low-quality goods. Fix what you can and get the most out of your possessions. Don't let your things consume you.
Somehow I doubt that debt repayment is even the goal anymore. I believe that politicians are just kicking the can down the road until the next administration or generation of politicians comes and long and then it's their problem to deal with.
Last edited by a moderator:
Lots of excellent comments above. My wife and I, as well as my adult children/families are doing o.k. and will weather this storm o.k. too. We have always lived modestly, so inflationary times are not that big of a deal.
I guess my only observation based on my experiences in the 1970's, the early 80's severe recession, and moving forward: Since post-WWII, our country as a whole has developed as a population of excesses and entitlement. Huge homes, car culture of large and multiple vehicles per family, lots of play toys (boats, R.V.'s, huge T.V.'s, $$ cell phones, guns/ammunition, etc.), cheap and abundant food, cheap and abundant fuel, and on and on.
Yes, we are a nation of entitled whiners compared to much of the rest of the globe. Several above suggested to simply adjust your spending habits during times of inflation. It really is just that simple.
I guess my only observation based on my experiences in the 1970's, the early 80's severe recession, and moving forward: Since post-WWII, our country as a whole has developed as a population of excesses and entitlement. Huge homes, car culture of large and multiple vehicles per family, lots of play toys (boats, R.V.'s, huge T.V.'s, $$ cell phones, guns/ammunition, etc.), cheap and abundant food, cheap and abundant fuel, and on and on.
Yes, we are a nation of entitled whiners compared to much of the rest of the globe. Several above suggested to simply adjust your spending habits during times of inflation. It really is just that simple.
Everyone talks about higher minimum wage being the answer but many including some of our politicians fail to take into consideration that if the local burger joint/Walmart/etc. is forced to raise wages from say an average of $10/hr. to an average of $15/hour that they're not going to take the loss and the increased pay is going to be passed on to the consumer through their product costs, so, although raising federal minimum wage would help a little it's not going to be the answer to the problems of all. If wages go up across the board so is the cost of consumer goods. When I got injured in Jan. 2000 I was making $18/hr working construction and could get nearly unlimited overtime if I wanted. When I had to take a part time job at Walmart my starting pay was $6.50/hr if I recall correctly. Sometimes life changes mean having to make considerable changes to your normal life style and spending habits. When I worked for Walmart if you were to get more hours during the pay period than they had you scheduled for you were expected to take off early before the end of the pay period so they didn't have to pay overtime.From the tone of your posts, it doesnt sound like they pay as much as Walmart or Targetand chances are its harder work.
Well said ... people are just a higher form of the animal kingdom and controlled by smarter forms of themselves.
Marketing is king in this economy, the average person (drone) just can not say no to borrowing money from someone else to buy something they can't afford to buy... then they start whining about what an unfair world when they have to pay it back ... and ironically are the ones who drive up the cost of inflation by buying all this crap that they have to borrow money for.
Then they will blame the banks for lending it to them and the people they vote into office for not balancing a budget!
This pathetic circle of debt is always someone else's fault, except their own!
Last edited:
D
Deleted member 89374
You hit the nail on the head with this comment!
I'm going to add an example to your excellent comment: someone who wants to buy a pickup truck, they absolutely have to have it now. Pickup truck prices are through the rough. Of course, that person barely has a couple of thousand dollars for a down payment, but the dealer doesn't care, neither does the bank. The dealers says: "if you have half-way decent credit, I can get you approved and into that truck!" At that point his negotiating power is out the window. A large enough number of people are already doing it, so if you are one of those (like me) that will just threaten to walk away if they can't get a better deal, the dealer will say: "tough luck buddy, someone else will buy it tomorrow!" And so it goes, because as long as people are willing to bury themselves into debt, prices for everything, not just vehicles, will not only stay up, but keep going up.
Thats the next crisis! ^^ Auto Loans ^^ people borrowing money for 7 years to drive a vehicle they can not afford to buy but worse in near servitude making loan payments for a product worth far less then the payments. Oh.... but lets not forget, its not their fault, its someone else fault they aren't driving a $5000 used car.
Well the people stockpiling toilet paper were really just hoarding. The previous poster I was replying to was trying to imply that there was something else going on as people are stockpiling other items as he thought that it was some sign of an impending crash. Inflation has been higher in the past than 5.4% and the stock market is doing fine. It's a little overblown sometimes in this thread that's all.
- Status
