augustus

Here is a realistic read on inflation in the US.  In summary:
* Inflation, in general, has been tamed.
* There are still a few areas of concern (housing & car insurance costs for example) but overall, the inflation crisis is over.
* Wage increases have outpaced inflation.
*  We have avoided a recession.
The war on inflation has been won. It’s OK if you’re still angry | CNN Business
WWW.CNN.COM This morning, economists got something they’ve been waiting three years for: an absolute snooze-fest of an inflation report.  

so many self-inflicted wounds! 

Matthew Perry's Assistant 'Repeatedly' Injected Him With Ketamine
PEOPLE.COM Perry's assistant pleaded guilty to conspiracy to distribute ketamine causing death, the Department of Justice said. Unfortunately, fame enabled him to be surrounded by yes-men and folks who saw him as a cash cow. 

The drug situation in this country is utterly horrendous!

So true, seniors who were barely scraping by before inflation surged are getting wrecked now because the Social Socurity cost of living increases have lagged badly behind increases in food prices.  I know exactly how much the SS adjustments are because my mom tells me every year.

‘I’m down to eating ramen’: Social Security benefits aren’t keeping up with inflation (msn.com)
 
THIS is the reality of the inflation we have been experiencing.    Social Security gets a cost of living increase every year, but the CPI numbers are not accurate and are not keeping up.
 
 

When I read this, my initial response was "ouch, that's harsh."  But then I googled why she did:  she thought some former co-stars would show up not to pay their respects or to grieve, but to get publicity and to improve their image.  OK, fair enough.  If you get to decide who attends your kids' birthday parties, your wedding, and other milestones, then why not your funeral.  Doherty fought a very long and difficult battle with cancer.  Hopefully through her podcast she was able to help others fighting the disease.  R.I.P.

Good for her!  She battled so long and hard to try to get control of her health, at least she had peace of mind that she'd have some control over her death.

The CPI includes food and energy......the Core CPI inflation rate does not.  Whenever the monthly numbers come out people like @EZEtoGRU and others always take the LOWER number.  Core CPI was 3.2% but he takes the other number of 2.9%.   These numbers are not a true reflection of the inflation rate.  They give little or no weighting at all to car insurance, homeowners insurance, property taxes, etc.   It includes health insurance premiums but does NOT include indirect purchases of medical goods and services.

CPI, by excluding food, fuel, taxes, insurance is a purposeful lie.

lots of wages have gone up substantially in the last 4 years.  Huge gains in the minimum wage in multiple states.  Fast food workers making record wages even without changes in the official minimum wage in some states.  Some Burger King restaurants in Michigan are paying $18/hour to flip burgers.  They weren't getting paid anything close to that prior to COVID.  UAW secured a record pay increase in the recently signed contract.  
 
 

For the post above...wash, rinse, dry, repeat.
Regarding the point of jobs being shed due to automation...why do I keep seeing "Now Hiring" signs on most businesses all around Michigan.  Businesses still need workers and can't find them.  Eventually, they will have to automate where they can if we don't have enough workers to fill all the job openings.

Meanwhile, yet another inflation report released today showing inflation continues to cool to 2.9% as of the end of July. This almost cements the likelihood for a September Fed rate cut. 

It is NOT 2.9% as food and fuel are excluded.   Prices of everything are going higher and higher without end.  

I love how the water slide makes his swimsuit (what little there is of it) get wedged up his ass, LOL.

Best not to, unless you have a valid need to.  Like moving overseas.  There are less protections for investors overseas, generally speaking, and especially as a foreigner.  If you want to buy foreign assets you can do that through mutual funds or ETF's.  

yeah, UAW people will get in long lines for those fast-food and other retail jobs.   Higher costs from unionization are the reason the Detroit Three are announcing layoffs. Ford announced 1,400 layoffs in March, following layoffs in 2023. Stellantis is having layoffs of 2500 right now.  And a lot more are coming.  UAW membership fell from 1.5 million in 1979 to 370,000 in 2023.  And EV's need 40% LESS workers to produce those cars!  So there will barely be any UAW workers left. 

Quite correct.  Inflation is not dead and the price increases of the past several years has devastated the lower and middle classes.  Even the upper classes!   Property taxes and auto/home insurance rates are now soaring at a double-digit pace.  Jobs are being shed as companies try to automate and wages have not kept up with the REAL inflation rate, resulting in less purchasing power to buy goods and services.

Marcus by Goldman Sachs is offering a 1-year CD for 5.00% which is quite good right now.   You can open it online.  

Marcus by Goldman Sachs is offering a 1-year CD for 5.00% which is quite good right now.   You can open it online.