Hyperinflation starting? What's happening in your area? Post your ground reports.

[MJ DeMarco]

Inflation is getting under control right?

If you believe that, I have a $12 peanut butter and jelly sandwich to sell you.

 

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[DCG]

Inflation is getting under control right?

If you believe that, I have a $12 peanut butter and jelly sandwich to sell you.


View attachment 51354

$12 is wild, inflation is getting out of hand.

 

[Jrjohnny]

Inflation is getting under control right?

If you believe that, I have a $12 peanut butter and jelly sandwich to sell you.


View attachment 51354

You can

A: spend less than 3 minutes making your own pb & j sandwich, for something less than 50 cents, and you decide what type of brands you use!

Or

B: spend 30 minutes at the market, find this pb & j sandwich for 12 bucks, you wouldn’t know what brands we used and we put a shit ton of preservatives in it so you can get brain cancer!

 

[GPM]

The Canadian prime minister just announced that he is going to fight food inflation at the grocery store level by..... drum roll please.... instituting new taxes.

 

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[farmer79]

The Canadian prime minister just announced that he is going to fight food inflation at the grocery store level by..... drum roll please.... instituting new taxes.

This is the problem (I am Canadian ) we have people with no economic understanding whatsoever running the show. Imagine someone who doesn’t understand a balance sheet running Apple or Tesla.

 

[Mikkel]

The Canadian prime minister just announced that he is going to fight food inflation at the grocery store level by..... drum roll please.... instituting new taxes.

Imagine trying to fight higher prices, by making you pay more money somewhere else.

It is like a magician trying to distract with sleight of hand and misdirection. Raises taxes over here, so we can tell you that we lowered the cost of food. Of course, they won't tell you that taxes also pay for bureaucratic nonsense. So it isn't even an equal trade.

 

[MRiabov]

I'm looking to dump cash into a large property that I can deem my primary residence, not as an investment, but merely as an insurance policy. If I get caught buying at the top, I don't mind losing a few million since it will be home I plan to live in for the rest of my life.

Unfortunately, here's just a little insight into how CRAZY the RE market is.

Saw a house in SLC that came up for sale. Mind you, it was listed for $4.8M and these higher price ranges (at least in the past) tend to stay on the market for a few weeks. It was a bit out of my budget but I'm chomping at the bit to unwind cash so I decided I would go look at it. Before I could even book a flight and get more details on it, it went Under Contract.

Even in these high prices ranges, houses are flying off the market. Bidding wars are not happening just at the $500K level, it is now transpiring in the mid-7 figure range.

In similar vain, I saw houses that didn't sell two years ago listed @ $2M now being relisted at $3.5M. Why not? If you can make $1.5M doing nothing in two years, can you blame them? But inflation is well contained.

2008?

 

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[StrikingViper69]

The Canadian prime minister just announced that he is going to fight food inflation at the grocery store level by..... drum roll please.... instituting new taxes.

What a clown. Maybe he could solve the cost of living by making it illegal to be poor.

 

[MattR82]

I'm curious as to the difference in the price of fuel between Australia and the US. We are at about 2 AUD per litre for regular unleaded, on average. 3.8 litres to a gallon, so $7.60 AUD per gallon, which is roughly 5 USD per gallon?

 

[socaldude]

I'm curious as to the difference in the price of fuel between Australia and the US. We are at about 2 AUD per litre for regular unleaded, on average. 3.8 litres to a gallon, so $7.60 AUD per gallon, which is roughly 5 USD per gallon?

That’s roughly what it is in the US. In California maybe $5-6 a gallon on average. In other states gas gets cheaper.

Here in Mexico it’s about 21 pesos a liter. Which comes out to about $5 a gallon.

 

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[Jrjohnny]

That’s roughly what it is in the US. In California maybe $5-6 a gallon on average. In other states gas gets cheaper.

Here in Mexico it’s about 21 pesos a liter. Which comes out to about $5 a gallon.

I'm curious as to the difference in the price of fuel between Australia and the US. We are at about 2 AUD per litre for regular unleaded, on average. 3.8 litres to a gallon, so $7.60 AUD per gallon, which is roughly 5 USD per gallon?

Gas here is around 6 and a half dollars a gallon…

Canada is going out of control.

They said they are going to work towards getting inflation under control for those who need it most by… adding more taxes!

 

[WJK]

2008?

How about the 1980 and 1990s?

 

[Kevin88660]

For 12 dollar I can eat a decent meal in Singapore, with drinks included.

Prices have increased but not as crazy as the percentage reported in North America.

 

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[msufan]

I'm curious as to the difference in the price of fuel between Australia and the US. We are at about 2 AUD per litre for regular unleaded, on average. 3.8 litres to a gallon, so $7.60 AUD per gallon, which is roughly 5 USD per gallon?

$3.60ish currently here in Michigan

 

[Subsonic]

$3.60ish currently here in Michigan

The F*ck?

In Germany, we pay about €1.90 for a liter.

Converted to dollars for a gallon, that's 7,35 per gallon

 

[msufan]

The F*ck?

In Germany, we pay about €1.90 for a liter.

Converted to dollars for a gallon, that's 7,35 per gallon

I think you have higher gas taxes than we do, which is part of it

 

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[MRiabov]

How about the 1980 and 1990s?

Well, i wasn't around 1980s and 1990, can't tell...

 

[WJK]

Well, i wasn't around 1980s and 1990, can't tell...

I was. At the beginning of 1980 interest rates jumped from around 10% or 12% to 21% and 22% just about overnight. The world stopped for a long time while the Feds got the inflation factor under control.
Around 1990 started the meltdown that took down the whole Saving and Loan Association and Trifts industry. It changed everything. I was in Los Angeles. In the RE business, our mantra was to stay alive until 1995 -- 1995 came and went with no economic change. That "recession" lingered until almost the end of the decade.
This is just another cycle!

 

[YanC]

I think you have higher gas taxes than we do, which is part of it

Same price here in France as in Germany. 60%+ of it is taxes. 60 freakin percent ! And, as most people prefer watching TV than making the bare minimal effort to be aware of things, they still successfuly manage to put the guilt on "greedy" oil companies and their "super profits".

 

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[Ing]

Electricity was 34 cent (€) some years ago.
Last year it was about 55 cent, now back to 40 cent, and we think its cheap.

In every area everyone tries to squeeze everything out of everybody.
Imo it’s not only inflation, but everone using the inflation as an excuse to squeeze.

 

[lowtek]

I was. At the beginning of 1980 interest rates jumped from around 10% or 12% to 21% and 22% just about overnight. The world stopped for a long time while the Feds got the inflation factor under control.
Around 1990 started the meltdown that took down the whole Saving and Loan Association and Trifts industry. It changed everything. I was in Los Angeles. In the RE business, our mantra was to stay alive until 1995 -- 1995 came and went with no economic change. That "recession" lingered until almost the end of the decade.
This is just another cycle!

This time is well and truly different. In the 80s we didn't have 120% debt to GDP. If interest rates spiked to 20%, the federal government would default immediately, or subsume the federal reserve under the treasury to force them to fire up the money printer.

There's no way out of this except inflation. What we've seen so far is just the warmup.

 

[Muhammad Ibrahim]

I believe we are witnessing a massive hyperinflationary event underway as prices continue to skyrocket in all asset classes. Of course, this doesn't happen in 1 day or 1 week, but over the course of a year or two.

Meanwhile, the Fed continues to say inflation is under control.

I've extracted some of the posts from the other INFLATION thread -- please use this thread to POST YOUR EXPERIENCE in your area/country/city of higher prices.

The mainstream narrative is that inflation is under control -- I contend that it is running in the double-digits and as always, the media and their sycophants are lying.

Of course, if you have a local experience of LOWER PRICES, feel free to post that too.

The only place I've found lower prices are in consumer electronics like televisions. Got make that propaganda easily accessible!

Pakistan here. shit's not increasing in percentages, but multiples.
it seems almost every single industry is affected, from electrical appliances to goddamn flour.
but ig it's also about our specific situation.

 

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[StrikingViper69]

Does anyone have a plan on what to do if inflation starts to hit badly? The UK Government doubled its spending over covid. Prices continue to rise. If the money printers get turned on (even more) things could quickly spiral out of control.

• Are you going to keep going as normal and ride it out?
• Sell up and move somewhere cheap for a few years?
• Move your liquid cash to assets?

 

[WJK]

This time is well and truly different. In the 80s we didn't have 120% debt to GDP. If interest rates spiked to 20%, the federal government would default immediately, or subsume the federal reserve under the treasury to force them to fire up the money printer.

There's no way out of this except inflation. What we've seen so far is just the warmup.

You're right about the influence of the national debt. This is a different animal. We're in a totally stupid place (says the girl who hates debt!).

There is another way out. Growth. We could bring a bunch of our manufacturing home. Yes, I believe it is "doable" with AI and robotics. I would create a special tax program to spur it on. A robust GNP growth line would bring in a lot more revenue. Also, we need to go back to being energy-independent and acting in our best interest. That is critical to supporting growth. This is fixable.

 

[msufan]

You're right about the influence of the national debt. This is a different animal. We're in a totally stupid place (says the girl who hates debt!).

There is another way out. Growth. We could bring a bunch of our manufacturing home. Yes, I believe it is "doable" with AI and robotics. I would create a special tax program to spur it on. A robust GNP growth line would bring in a lot more revenue. Also, we need to go back to being energy-independent and acting in our best interest. That is critical to supporting growth. This is fixable.

Eliminating the debt can be helped by growth, and I think it would also require us to also do some unpopular things: either cut spending or raise taxes (or both).

Right now people expect the government to provide a lot of services but expect taxes to remain low/moderate. Everyone in political leadership wants to get re-elected and/or keep their party in power, so no one is willing to do the difficult-but-necessary thing anymore. So we just keep spending...

 

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[WJK]

Eliminating the debt can be helped by growth, and I think it would also require us to also do some unpopular things: either cut spending or raise taxes (or both).

Right now people expect the government to provide a lot of services but expect taxes to remain low/moderate. Everyone in political leadership wants to get re-elected and/or keep their party in power, so no one is willing to do the difficult-but-necessary thing anymore. So we just keep spending...

That's one point of view. Reagan proved that it could also be done through growth and tax cuts.

Yes, we need to cut spending. We wasting a large percentage of every Federal dollar. We need a good businessman to take the reins and make it work. We need to cut the whole Federal government.

 

[socaldude]

We need to cut the whole Federal government.

At this point our government is pretty much organized crime. The fiscal and monetary systems need to be thrown into the vortex of a flushing toilet.

Governments lie, cheat and steal under some kind of moral guise. But if a citizen did it he/she would be shamed into oblivion and thrown in jail.

 

[msufan]

Yes, we need to cut spending. We wasting a large percentage of every Federal dollar. We need a good businessman to take the reins and make it work. We need to cut the whole Federal government.

100% yes. This is something we agree on completely.

 

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[23Infinity]

This is the only way out, I think.

Except its political suicide for any govt from whichever side of the political spectrum to suggest the idea of reigning in spending and cuts. Most of the voting base is low-information and will vote for least pain.

Heard some interesting theories if I can call them that, the only way to get out of this inflation spiral is to start some type of war or other black swan event, blame that for whatever debt collapse/reset or whatever economic shitshow follows and reset the monetary system.

Long (your choice of) bitcoin / gold / hard assets I guess.

 

[WJK]

Except its political suicide for any govt from whichever side of the political spectrum to suggest the idea of reigning in spending and cuts. Most of the voting base is low-information and will vote for least pain.

Heard some interesting theories if I can call them that, the only way to get out of this inflation spiral is to start some type of war or other black swan event, blame that for whatever debt collapse/reset or whatever economic shitshow follows and reset the monetary system.

Long (your choice of) bitcoin / gold / hard assets I guess.

I don't think that the old "war economy" works anymore. Our weapons are too drastic and too far-reaching. We could blow up Mother Earth these days. You're right that most voters vote for their comfort. I think the only way out is to expand the economy, cut red tape, and cut taxes to spur growth. We could grow our way out of this in a scant few years.

The change of currency has been tried several times. It can work and it can go terribly wrong. A shining example is Germany after WWI. And then we got Hitler.