Coronavirus prep

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  • lemurcat2
    lemurcat2 Posts: 7,885 Member
    edited February 2022
    Inflation is happening in every area and it is mostly because of what the Federal government did with handing out lots of cash. So now inflation is the highest it has been in 40 years... At levels that most of us have not seen in our lifetimes (assume everyone under 50 is too young to remember inflation 40 years ago, that is about 2/3 of the U.S. population).

    The cause is a quick increase in money supply and the solution will be to decrease money supply... This means interest rates are about to skyrocket.

    I remember. Interest rates were 10% when we bought our home in 1987. There are plenty of us that remember. It’s one of the reasons Reagan got elected. Don’t discount the seniors. There’s a lot of us, and the number is growing.

    Maybe in quantum physics an event can cause an earlier event, but in the macro world where political events occur, inflation rates in 1987 seem like a very dubious cause of events in 1984, 1980, and whatever earlier years Reagan was elected governor of California and president of the Screen Actors Guild.

    I think the point made was that Reagan was elected so that he would raise interest rates. Ridiculously high inflation began under Ford. Carter didn't solve it, so Reagan was elected with the idea that he would solve the inflation problem. He tried to do that by raising interest rates, though he also reduced taxes to offset this. That increased money supply primarily to high income earners while using interest rates to bring that money back in from borrowers. The increased money supply to wealthy people had little impact because this economic group often just hoarded money, so most of it truly never got into the economy.

    Agreed that the point was clearly that Reagan was elected bc of the perceived issues with the economy (in part) and that the post was of course not meant to say that Reagan was elected due to interest rates in '87.

    Reagan didn't raise rates, Volcker (the Fed) raised rates (and mortgage rates were already high when Reagan was elected, although they got even higher). Carter actually appointed Volcker. I generally agree that Reagan was elected because Carter looked ineffectual given the economy continuing to be bad plus the Iran hostage crisis, and because the person in office tends to be punished when the economy is bad (and rewarded when it's good) even though one could reasonably argue that the president isn't really that much in control of the economy (there are certain fixes one can try and one probably shouldn't squander them at the wrong time, I would also argue). I don't think the electorate was thinking "let's elect Reagan to increase interest rates."
  • missysippy930
    missysippy930 Posts: 2,577 Member
    edited February 2022
    Yesterday, I think it was on Face the Nation but may have been CBS Sunday Morning news they were talking about the rise in cost of goods. What stuck with me, was the 40% increase in new car prices. That’s putting an awful lot of people out of the market for buying a new car.


    Btw, interest rates were high before Reagan and after his presidency, as well. We would have been ecstatic to have interest rates as low as they are now, back then.1979 President carter had a bad last year by any standard. Any idea what a difference that makes in your monthly house payment?
  • cwolfman13
    cwolfman13 Posts: 41,865 Member
    Yesterday, I think it was on Face the Nation but may have been CBS Sunday Morning news they were talking about the rise in cost of goods. What stuck with me, was the 40% increase in new car prices. That’s putting an awful lot of people out of the market for buying a new car.

    It's almost impossible to even find a new car on a lot due to the supply chain issues and chip shortage...or at least the vehicle you actually want. You pretty much have to order the vehicle at this point and just wait for months for it to come in. About 90% or more of what is sitting on a car lot these days is used car inventory.

    A couple months ago we had to take a look around as my wife was in an accident and hit pretty hard. I was pretty damned sure the vehicle would be totaled and in normal circumstances it would have been. While we were waiting for the adjuster to give us the news we started doing some shopping, and it's pretty much nothing out there. Not to mention we have to have a vehicle that can tow...not huge capacity, but decent towing capacity so we couldn't just buy some random vehicle. It ended up not being totaled due to the current car market...as extensive as the damage was it was cheaper to fix it than pay us out the % of what the vehicle was worth in the current market.
  • lynn_glenmont
    lynn_glenmont Posts: 10,089 Member
    Inflation is happening in every area and it is mostly because of what the Federal government did with handing out lots of cash. So now inflation is the highest it has been in 40 years... At levels that most of us have not seen in our lifetimes (assume everyone under 50 is too young to remember inflation 40 years ago, that is about 2/3 of the U.S. population).

    The cause is a quick increase in money supply and the solution will be to decrease money supply... This means interest rates are about to skyrocket.

    I remember. Interest rates were 10% when we bought our home in 1987. There are plenty of us that remember. It’s one of the reasons Reagan got elected. Don’t discount the seniors. There’s a lot of us, and the number is growing.

    Maybe in quantum physics an event can cause an earlier event, but in the macro world where political events occur, inflation rates in 1987 seem like a very dubious cause of events in 1984, 1980, and whatever earlier years Reagan was elected governor of California and president of the Screen Actors Guild.

    I think the point made was that Reagan was elected so that he would raise interest rates. Ridiculously high inflation began under Ford. Carter didn't solve it, so Reagan was elected with the idea that he would solve the inflation problem. He tried to do that by raising interest rates, though he also reduced taxes to offset this. That increased money supply primarily to high income earners while using interest rates to bring that money back in from borrowers. The increased money supply to wealthy people had little impact because this economic group often just hoarded money, so most of it truly never got into the economy.

    Ah, I didn't read it that way. Thanks.
  • lynn_glenmont
    lynn_glenmont Posts: 10,089 Member
    Theoldguy1 wrote: »
    Inflation is happening in every area and it is mostly because of what the Federal government did with handing out lots of cash. So now inflation is the highest it has been in 40 years... At levels that most of us have not seen in our lifetimes (assume everyone under 50 is too young to remember inflation 40 years ago, that is about 2/3 of the U.S. population).

    The cause is a quick increase in money supply and the solution will be to decrease money supply... This means interest rates are about to skyrocket.

    I remember. Interest rates were 10% when we bought our home in 1987. There are plenty of us that remember. It’s one of the reasons Reagan got elected. Don’t discount the seniors. There’s a lot of us, and the number is growing.

    Yes, and the reason interest rates had to be raised was because of the high level of inflation. Raising interest rates is the fix. Unfortunately, I am in the process of building a new house... I am trying to lock in my rate soon.

    The part that really bugs me is that I am single and childfree. I received very little of the money that the Fed printed in order to hand out. Despite that I didn't share in much of the benefits that led to hyper inflation, I will have to pay for the solution. Yet again, money is taken from me to benefit people with kids.
    Kids grow up and become part of the world you live in - some of those kids might grow up to operate on you or build your house, some might grow up to rob you in a dark alley. Benefiting kids benefits you even if you don’t have kids. I say that as a childfree person myself, btw.

    The primary cause of climate change is overpopulation, and the most effective solution for climate change is to have fewer children. Individual person's may be good or bad for society, but additional population overall will destroy us. The government shouldn't reward reproduction and punish those of us doing the right thing.

    Sounds like someone should be moving to China ASAP.

    Actually, China has reversed its population policy and is now encouraging more than one child per family.
  • AnnPT77
    AnnPT77 Posts: 34,102 Member
    Yesterday, I think it was on Face the Nation but may have been CBS Sunday Morning news they were talking about the rise in cost of goods. What stuck with me, was the 40% increase in new car prices. That’s putting an awful lot of people out of the market for buying a new car.


    Btw, interest rates were high before Reagan and after his presidency, as well. We would have been ecstatic to have interest rates as low as they are now, back then.1979 President carter had a bad last year by any standard. Any idea what a difference that makes in your monthly house payment?

    From what I'd heard, it was used car prices up by 40% in a year, new car prices up more like 13%. Other mainstream sources seem consistent with this one:

    https://www.usatoday.com/story/money/cars/2022/02/13/used-cars-cost-more/6778705001/

    Not that that's a great thing, in any way.
  • redfish8
    redfish8 Posts: 2 Member
    Actually, China has reversed its population policy and is now encouraging more than one child per family.
    Yes, they are now "allowing" 2 children per family. However, forced abortion is still the method used by the State for those parents who are found to be pregnant with a 3rd child. This is confirmed by people who have fled China.
  • Theoldguy1
    Theoldguy1 Posts: 2,493 Member
    edited February 2022
    Yesterday, I think it was on Face the Nation but may have been CBS Sunday Morning news they were talking about the rise in cost of goods. What stuck with me, was the 40% increase in new car prices. That’s putting an awful lot of people out of the market for buying a new car.


    Btw, interest rates were high before Reagan and after his presidency, as well. We would have been ecstatic to have interest rates as low as they are now, back then.1979 President carter had a bad last year by any standard. Any idea what a difference that makes in your monthly house payment?

    Used car prices are up the 40%, new cars around 15% based on average transaction price. Some of the new car increase due to price increases/sales above MSRP but also the mix has changed. Manufacturers are using the available chips in high priced, high margin vehicles rather than using the same chip in vehicles that don't command as high of a price. Why use a scarce chip in a $25k Corolla when you can use it in an $80k Tundra?
  • Theoldguy1
    Theoldguy1 Posts: 2,493 Member
    Theoldguy1 wrote: »
    Inflation is happening in every area and it is mostly because of what the Federal government did with handing out lots of cash. So now inflation is the highest it has been in 40 years... At levels that most of us have not seen in our lifetimes (assume everyone under 50 is too young to remember inflation 40 years ago, that is about 2/3 of the U.S. population).

    The cause is a quick increase in money supply and the solution will be to decrease money supply... This means interest rates are about to skyrocket.

    I remember. Interest rates were 10% when we bought our home in 1987. There are plenty of us that remember. It’s one of the reasons Reagan got elected. Don’t discount the seniors. There’s a lot of us, and the number is growing.

    Yes, and the reason interest rates had to be raised was because of the high level of inflation. Raising interest rates is the fix. Unfortunately, I am in the process of building a new house... I am trying to lock in my rate soon.

    The part that really bugs me is that I am single and childfree. I received very little of the money that the Fed printed in order to hand out. Despite that I didn't share in much of the benefits that led to hyper inflation, I will have to pay for the solution. Yet again, money is taken from me to benefit people with kids.
    Kids grow up and become part of the world you live in - some of those kids might grow up to operate on you or build your house, some might grow up to rob you in a dark alley. Benefiting kids benefits you even if you don’t have kids. I say that as a childfree person myself, btw.

    The primary cause of climate change is overpopulation, and the most effective solution for climate change is to have fewer children. Individual person's may be good or bad for society, but additional population overall will destroy us. The government shouldn't reward reproduction and punish those of us doing the right thing.

    Sounds like someone should be moving to China ASAP.

    Actually, China has reversed its population policy and is now encouraging more than one child per family.

    Realize that but still limited.
  • T1DCarnivoreRunner
    T1DCarnivoreRunner Posts: 11,502 Member
    On cars... I bought my car new in 2016 and was putting a lot fewer miles on it starting in Mar. 2020. I've only got 110K miles, so I can keep it several more years at this rate. It's a Prius, so I get 50 mpg and that helps with fuel inflation too.
  • lemurcat2
    lemurcat2 Posts: 7,885 Member
    edited February 2022
    Yesterday, I think it was on Face the Nation but may have been CBS Sunday Morning news they were talking about the rise in cost of goods. What stuck with me, was the 40% increase in new car prices. That’s putting an awful lot of people out of the market for buying a new car.

    I think that is specifically a supply chain thing, though, and so should be more of a blip. I bought a new car at the end of November (I wasn't going to but they asked me if I was interested in trading in my '08 and gave more for it than I expected, and I looked into it and decided the new payments vs the current maintenance is likely not a bad deal). The prices I looked at seemed not out of whack, at least not what I was offered, vs when I vaguely thought about a new car a couple of years ago.

    (Edit: my experience seems consistent with the new car/old car increases in Theoldguy's post.)
  • 33gail33
    33gail33 Posts: 1,155 Member
    cwolfman13 wrote: »
    Yesterday, I think it was on Face the Nation but may have been CBS Sunday Morning news they were talking about the rise in cost of goods. What stuck with me, was the 40% increase in new car prices. That’s putting an awful lot of people out of the market for buying a new car.

    It's almost impossible to even find a new car on a lot due to the supply chain issues and chip shortage...or at least the vehicle you actually want. You pretty much have to order the vehicle at this point and just wait for months for it to come in. About 90% or more of what is sitting on a car lot these days is used car inventory.

    A couple months ago we had to take a look around as my wife was in an accident and hit pretty hard. I was pretty damned sure the vehicle would be totaled and in normal circumstances it would have been. While we were waiting for the adjuster to give us the news we started doing some shopping, and it's pretty much nothing out there. Not to mention we have to have a vehicle that can tow...not huge capacity, but decent towing capacity so we couldn't just buy some random vehicle. It ended up not being totaled due to the current car market...as extensive as the damage was it was cheaper to fix it than pay us out the % of what the vehicle was worth in the current market.

    I ordered a new vehicle in December (Ford Maverick Hybrid) salesman told me end of January delivery. End of January came and went and they don't even have the VIN yet, and once they get that it will be another 60 days. I already gave my perfectly good SUV to my son because he needed it - so now I am driving an old junker while I wait. :(
  • lemurcat2
    lemurcat2 Posts: 7,885 Member
    edited February 2022
    My car was supposed to come in at the end of December, and I just got it on Feb 1, but I guess that wasn't too bad. I did have my old one until I got the new one since I was trading it in.
  • T1DCarnivoreRunner
    T1DCarnivoreRunner Posts: 11,502 Member
    edited February 2022
    As to the computer chip shortage, remember how Tesla figured out how to reprogram old chips and reuse them to get production back in August 2021? It took a couple weeks for Tesla, but no other aufo manufacturer has figured this out by now after months?!

    I know first hand that automotive parts manufacturers selling to vehicle manufacturers are not getting any of this extra money for inflated prices. Either it is the final manufacturers / assembly or it is dealers. Meanwhile, parts manufacturers are struggling on the cost side as labor and materials increase.
  • Theoldguy1
    Theoldguy1 Posts: 2,493 Member
    As to the computer chip shortage, remember how Tesla figured out how to reprogram old chips and reuse them to get production back in August 2021? It took a couple weeks for Tesla, but no other aufo manufacturer has figured this out by now after months?!

    I know first hand that automotive parts manufacturers selling to vehicle manufacturers are not getting any of this extra money for inflated prices. Either it is the final manufacturers / assembly or it is dealers. Meanwhile, parts manufacturers are struggling on the cost side as labor and materials increase.

    Tesla for all intents is a niche market. New vehicles use exponentially more chips than older vehicles to start with plus people are keeping their old vehicles longer so not very many old chips out there to reprogram (plus the older the vehicle the fewer chips if even the older ones can be reprogramed). Never mind that EVs use significantly more chips than ICE vehicles or the demand for other devices that use chips.
  • debtay123
    debtay123 Posts: 1,327 Member
    Many are dropping the mask in my area(although some never wore the mask anyway-smile) BUT what are y'all going to do?
    I am STILL wearing mine for the foreseeable future- just wondering what's happening where you are....
  • SModa61
    SModa61 Posts: 3,096 Member
    Hubby and I made it down to the Florida keys two weeks ago. I have a mask available pretty much any time I am out, but I have pretty much not worn one since I got down here. We are pretty much solo (plus the cats) and most connections with others has been outside. DD, SIL and DGS will be coming down in 5 weeks, I am sure our practices will revert towards mask wearing while they are here and in the time leading up to their arrival. GS is two and therefore has not been vaccinated.
  • MaggieGirl135
    MaggieGirl135 Posts: 1,021 Member
    My county in Colorado dropped its mask mandate for indoor public places a couple weeks ago. We had gone quite a bit of time (months?) without it. When it was in place, many places (two different grocery stores for sure) never said anything to anyone, if they weren’t wearing one. Typically, I believe, doctor offices still require it. Early in 2021, when the mandate was in place (the first time), I was asked to put it back on at a ski resort. I had forgotten to and was preoccupied with wrestling with bindings (I had removed the mask to wipe my nose). At a different ski resort this year with the mandate in place, as my husband and I walked closer to the buildings (just arriving, not all geared up), we were told that we did not have to wear the mask outside. Different rules at different times in different counties, no one state mandate. I think that was true for the whole time of COVID in Colorado.
  • spiriteagle99
    spiriteagle99 Posts: 3,740 Member
    edited February 2022
    Masks haven't been required in PA for a long time. They are required in medical settings and government buildings like the library or post office, but that's about it. Occasionally a business will have a sign saying that masks are recommended, but not required if you are vaccinated. At stores only a few customers are masked, probably less than 10%. We stopped wearing masks as soon as the requirement was dropped. Since we rarely talk to anyone, aside from saying hello to neighbors as we walk the dog, there has been no prolonged exposure. Neither my husband nor I have gotten sick, even though less than 50% of the people in our county are fully vaccinated.
  • lynn_glenmont
    lynn_glenmont Posts: 10,089 Member
    I expect to go on wearing masks indoors in public spaces for the foreseeable future, except when necessary not to (i.e., I have occasionally through the pandemic dined "in" at places that weren't crowded and where servers were masked, and I expect to continue that distinction for the time being, and I take my mask down at medical appointments and blood donor appointments to get my temperature taken -- not interested in suggesting an axillary temp measure instead :smile: ).
  • SummerSkier
    SummerSkier Posts: 5,096 Member
    I am happy the virus is dropping off here in Tx because as far as spikes go this last one was bad and so many deaths each day in the US. I assume because as a ratio to how many were sick since I also know quite a few folks who called it like a bad cold with a REALLY awful sore throat for a few days. Its the Long covid which worries me more than the bad cold. And the randomness of who gets really sick. Maybe with Omicron the cases of long will be fewer.

    As far as masking. It's pretty much out the window here. I was at the grocery Sat morning and what I did find funny was that the checker was wearing a mask but it was pulled down over her mouth only. So I asked her to pull it up gently and she responded we don't have to wear masks. I thought it was a little odd. If you are going to wear one wear it right? WHo knows. <shrug> I will continue to wear my KN95 mask in situations where I am close to unknown people. My workplace still has a mask mandate even if they are just the 3 ply medical ones. It's not that much of a hardship for me for a little while but I understand someone having to wear it all day (like I do at work) being irritated. I also find it quite funny that people at work have a tendency to pull their mask DOWN to talk to you. I have seen multiple people do this and always wondered if they had trouble talking in the mask or something.

    Let's all hope this is the last HUGE wave and there will not be another more deadly strain coming.

  • lemurcat2
    lemurcat2 Posts: 7,885 Member
    edited February 2022
    debtay123 wrote: »
    Many are dropping the mask in my area(although some never wore the mask anyway-smile) BUT what are y'all going to do?
    I am STILL wearing mine for the foreseeable future- just wondering what's happening where you are....

    We still have a mask mandate. It might be lifted on 2/28, when the state's is, but it seems like it may remain in place longer. Even after it is lifted, I expect it to be in place in public transit, theaters and concerts (even small ones), and similar (theaters tended to impose them independent of the city, and similarly had vax or testing requirements before the city did that). I already don't wear a mask at work outside of the building's public areas like the lobby and elevator (large office building with many different employers). So the question is really just about stores (I don't mask outside unless it is due to weather) and my gym.

    When we briefly had no mask requirement last summer, it took me a bit of time to adjust, but I did stop wearing the masks in stores and such, and I expect I will do the same when our mask requirements are lifted again. (I also will not wear them in the gym unless I am working out with someone who prefers that we wear them.) Unlike what some of you have said, my experience has been that people where I am have been very compliant and it is rare to see people not complying with the requirement even where it is not actually enforced. When it was lifted before it was initially more like 50% not wearing them and then the numbers gradually got higher before it was reintroduced.

    On the restaurants thing, I haven't eaten indoors other than with a group (all vaxxed) in a private room except for twice, once of those being back when the mask mandate was lifted. I have eaten outside a few times, but that was when the weather was nice. I would eat inside (and follow whatever the restaurant rules are -- right now they require both vax and mask), but just the people I used to go to restaurants with most often are more cautious (and also we mostly went before or after the theater or a concert or the like and they tend to be more concerned about that stuff, even though as noted above they require masks, so oh well).