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This Is One Of The Big Reasons Why So Many Families Are Feeling Extreme Financial Stress

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Inflation Blackboard - Public DomainWhen the cost of living rises faster than paychecks do year after year, eventually that becomes a very big problem.  For quite some time I have been writing about the shrinking middle class, and one of the biggest culprits is inflation.  Every month, tens of millions of American families struggle to pay the bills, and most of them don’t even understand the economic forces that are putting so much pressure on them.  The United States never had a persistent, ongoing problem with inflation until the debt-based Federal Reserve system was introduced in 1913.  Since that time, we have had non-stop inflation and the U.S. dollar has lost more than 98 percent of its value.  If our paychecks were increasing faster than inflation this wouldn’t be a problem, but in recent years this has definitely not been the case for most Americans.

And unfortunately inflation is starting to accelerate once again.  In fact, it is being reported that inflation rose at the fastest pace in four years in January…

The prices Americans pay for goods and services surged in January by the largest amount in four years, mostly reflecting a rebound in the cost of gasoline that’s taking a bigger chunk out of household incomes.

The consumer price index, or cost of living, rose by a seasonally adjusted 0.6% in January, the government said Wednesday.

Meanwhile, our incomes have been incredibly stagnant.   In fact, we just learned that median household income did not go up at all during 2016.

This is one of the reasons why we consistently see families fall out of the middle class month after month.  Even if you keep the same job year after year, your standard of living is going to steadily go down unless your pay goes up.

The things that we all spend money on month after month just keep going up in price.  I am talking about food, housing, medical care and other essentials.  If there is one thing that we can always count on, it is the fact that things are going to cost more tomorrow than they do today.

Let’s talk about food for a moment.  Whenever I go to the grocery store, I am almost always shocked.  I still remember a time when I could get everything that I needed for an entire week for about 20 bucks, but these days you can’t even fill up one cart for 100 dollars.

That is because food prices have been rising aggressively for many years.  The following is a list that was posted on The Economic Policy Journal that shows how much some food and grocery items have increased over the past decade…

1. Tobacco and smoking products

-Price increase: 90.4%

2. Margarine

-Price increase: 63.6%

3. Uncooked ground beef

-Price increase: 46.3%

4. Shelf stable fish and seafood
-Price increase: 45.0%

5. Prescription drugs
-Price increase: 43.5%

6. Rice, pasta, cornmeal
-Price increase: 40.3%

7. Bread
-Price increase: 38.9%

8. Snacks
-Price increase: 38.4%

9. Miscellaneous poultry including turkey
-Price increase: 37.0%

10. Apples
-Price increase: 36.6%

11. Frankfurters
-Price increase: 35.8%

12. Canned vegetables
-Price increase: 35.3%

13. Salt and other seasonings and spices
-Price increase: 34.0%

14. Miscellaneous fats and oils including peanut butter
-Price increase: 34.0%

15. Miscellaneous processed fruits and vegetables including dried
-Price increase: 33.7%

16. Bacon and related products
-Price increase: 33.2%

17. Fresh whole chicken
-Price increase: 32.5%

18. Cakes, cupcakes, and cookies
-Price increase: 32.1%

19. Flour and prepared flour mixes
-Price increase: 32.1%

20. Canned fruits
-Price increase: 32.0%

And thanks to out of control government spending and reckless manipulation by the Federal Reserve, we have come to a time when inflation is starting to accelerate once again.

According to John Williams of shadowstats.com, if honest numbers were being used the government would be telling us that inflation is rising at a 6 percent annual rate for the first time since 2011.

At the same time, evidence is mounting that U.S. consumers are simply tapped out.  Previously, I have explained that interest rates are going up, consumer bankruptcies are rising, and lending standards for consumers are really tightening up.

All of those are things we would expect to see if a new recession was starting.

And today we learned that the number of Americans refinancing their homes has fallen to the lowest level that we have seen since 2009

A slowdown in refinancing pulled down the total mortgage application volume last week as changes to certain government-loan programs made refinances less lucrative. Refinance volume now stands at its lowest level since June 2009.

If you will remember, we also saw a slowdown in mortgage refinancing just before the great financial crisis of 2008.

For mortgage applications overall, they are now down almost 31 percent from where they were a year ago…

Total mortgage application volume fell 3.7 percent on a seasonally adjusted basis last week from the previous week, and are nearly 31 percent lower than the same week a year ago, according to the Mortgage Bankers Association.

A 31 percent decline in a single year is catastrophic.

If this continues, it won’t be too long before everyone is talking about a new housing crash.

And we also learned this week that FHA mortgage delinquencies increased during the fourth quarter “for the first time since 2006”

Federal Housing Administration mortgage delinquencies jumped in the fourth quarter for the first time since 2006, the Mortgage Bankers Association reported Wednesday. The FHA insures low down-payment loans and is a favorite among first-time homebuyers.

The seasonally adjusted FHA delinquency rate increased to 9.02 percent in the fourth quarter from 8.3 percent in the third quarter, MBA data show.

So many things are happening right now that we have not seen happen in many years, but most people are choosing not to see the red flags that are popping up all around us.

None of our long-term economic problems have been fixed.  And even though Donald Trump won the election, the truth is that our economy is in the worst shape it has been since the last financial crisis.  I continue to encourage all of my readers to get prepared for very hard times, but just like back in 2007 we are experiencing a wave of tremendous optimism right now and most people think that the party can somehow continue indefinitely.

Whether Donald Trump won the election or not, the truth is that a major economic downturn was going to come anyway.  You see, Donald Trump is not some magician that can just wave a wand and somehow make the consequences of decades of very foolish decisions instantly disappear.

We have been on the biggest debt binge in human history, and there is going to be a great price to pay when this immense debt bubble finally bursts.

Unfortunately, most people are not going to acknowledge the truth until it is too late.

  • john

    first here. so we are all doomed??

  • socalbeachdude

    The only things that are really going up over the past year or so are 1) medical expense costs, and 2) housing costs. Both are huge percentages of a typical family’s budget so folks are indeed facing higher costs but the price of most everything else is staying the same or going down.

    • Rick

      Ironically as I mentioned above, 75% of the list are very unhealthy things. You mentioned medical costs rising, and of course they are because we all choose to eat like you do, way too many carbs, unhealthy fats, and way too much of it all. Most of us take in way too many calories daily, myself included, but that’s what we really need to change in order to get healthy as a nation. However, conventional medicine doesn’t make money when nobody shows up to be treated, so they spend 98% of their time on everything except proper nutriton. Right now our country spends over 300 billion per year on cardiovascular disease, and over 300 billion per year on diabetes and other metabolic conditions. 600 billion in just those two areas. When you throw in immunologic diseases, and cancers, we are spending over a trillion annually on healthcare conditions that can be directly influenced and reduced by better nutrition.

      • socalbeachdude

        There is no such thing as “unhealthy food” as all food is made of chemicals and is inherently healthy and food has nothing whatsoever to do with the huge escalation of medical expense costs in the USA. Your notions are beyond absurd and are just plain dead wrong.

        Karl Denninger sums up the situation with medical costs perfectly in his article below.

        Welcome To Reality, IDIOTS! – By Karl Denninger

        Time for this one again:

        In place of quick service and painless billing, these Virginians are now facing the threat of sticker-shock that comes with bills they can’t afford.

        ‘They had no idea if my insurance was active or not!’ a coughing Maria Galvez told MailOnline outside the Inova Healthplex facility in the town of Springfield.

        She was leaving the building without getting a needed chest x-ray.

        ‘The people in there told me that since I didn’t have an insurance card, I would be billed for the whole cost of the x-ray,’ Galvez said, her young daughter in tow. ‘It’s not fair – you know, I signed up last week like I was supposed to.’

        The x-ray’s cost, she was told, would likely be more than $500.

        An X-ray shouldn’t cost more than $50.

        But it’s $500, and even if you actually have the insurance under Brosurance, otherwise known as “Obaminationcare”, you are going to get the entire $500 bill anyway.

        Why?

        Because you have a $5,500 deductible, and until you pay that $5,500 out of your pocket you get nothing from the so-called “insurance” except the monthly bill that automatically comes out of your checking account.

        And if you don’t have that $5,500 unless you’re literally dying right here, right now the doctor or hospital will not see you — until you prove you can pay him first.

        If you thought this wasn’t what you were going to get you’re not very bright.

        http://market-ticker.org/akcs-www?post=227272

        • Rick

          I used to think you were a smart dude, but you’ve proven yourself very ignorant on the subject of health and what causes disease. Medical cost and insurance billing have never ever been traced to the cause of an illness or disease. I’m hoping people who read your BS on health are smart enough to just laugh at your uninformed statements. But, everyone has an opinion, so I’ll give you a break here and just take this as your opinion. Again mine is backed by science, epidemiological data, and sound research.

          • socalbeachdude

            You have very screwed up and utterly false notions regarding food that are beyond absurd and ridiculous. All food is BASICALLY THE SAME AND ALL FOOD IS FULLY NUTRITIONAL . I primarily eat high protein Deli style foods which are great and very tasty and just as good if not better for folks that the sort of junk you appear to like. Everyone has different tastes in food and everyone chooses to eat what they like and that is simply how it will always be. One of the most dangerous types of food is “gluten free” garbage which has serious health risks.

            Gluten-free diet healthy? Twice as much arsenic, mercury…

            http://www.dailymail.co.uk/health/article-4223422/Gluten-free-diets-higher-levels-arsenic.html

            Heavy use of vegetables is also very bad for people and leads to serious deficiencies in many respects.

            Bad news for vegetarians! If you want grandchildren, make sure you eat MEAT, study finds

            In a study on fruit flies, researchers from Monash University, Melbourne, found that a father’s diet can massively impact their children’s fertility by making their son’s sperm less competitive.

            http://www.dailymail.co.uk/health/article-4230834/If-want-grandchildren-make-sure-eat-MEAT.html

          • K2

            ”Bad news for vegetarians! If you want grandchildren, make sure you eat MEAT, study finds” There are people in many countries that are vegetarian that have grandchildren. Have no deficiencies, live long healthy lives etc. Four vegetarian communities in india….brahmins, jains, marwaris, vysyas are not only healthy, they are infact the most successful communities in india. Its absurd to think vegetarians would not have grandchildren.

            Maybe you are confusing vegetarianism with veganism. Vegetarianism (that includes egg and/or diary consumption) will not lead to deficiencies. Veganism will.

            By saying this….I am not advocating for a vegetarian diet. People should eat meat by all means if they want to.

          • socalbeachdude

            All vegetables are good for is HOG SLOP.

          • K2

            Very informed and rational comment.

          • socalbeachdude

            Thank you!

          • Kissmagrits

            You don’t know what sarcasm is?

          • GSOB

            One things for sure……
            Eating is an enjoyment.

  • socalbeachdude

    DEFLATION ACCELERATES AT THE GROCERY STORE

    Grocery prices are plunging – Bloomberg

    Call it the Great Grocery-Store Giveaway of 2016.

    In Austin, Texas, Randalls slashed prices for boneless beef ribs by 40 percent, to $3.99 a pound. Not to be outdone, the H-E-B grocer down the street charged $1 a pound less. Not long ago, Albertsons advertised a deal you don’t normally see on your finer cuts of meat: “buy 1 get 1 free” specials on “USDA Choice Petite Sirloin Steak.”

    And what does $1 buy these days? In North Bergen, New Jersey, you could pick up a dozen eggs at Wal-Mart. OK, the price was actually $1.14. A mile away, check out Aldi, the German supermarket discounter, which can actually break the buck — 12 eggs for 99 cents. A year ago, you would have paid, on average, three times that price.

    In a startling development, almost unheard of outside a recession, food prices have fallen for nine straight months in the U.S. It’s the longest streak of food deflation since 1960 — with the exception of 2009, when the financial crisis was winding down. Analysts credit low oil and grain prices, as well as cutthroat competition from discounters. Consumers are winning out; grocery chains, not so much. Their margins and, in some cases, their stock prices, are taking a hit.

    Eggs and beef have have grown especially inexpensive, and it isn’t only an American phenomenon.

    http://www.bloomberg.com/news/articles/2016-09-27/eight-cent-eggs-consumers-gobble-cheap-food-as-grocers-squirm

    • K2

      So the two foods that increase the chance of a heartattack more than anyother food….are getting cheaper? Awesome!

      Please tell me fruits and vegetables have gotten cheap too since the last year.

      • socalbeachdude

        Fruits and vegetables are totally unappealing to eat unless the fruits are made into pies. I simply do not eat any of that junk.

        • K2

          Junk? Lol fruits and veggies are junk?
          Whatever happened to ‘fast’ food being ‘junk’ food.

          I cant imagine people not liking vegetables (even then try eating burgers or pizzas without vegetables in it), but i think you are the first person i came across who says they dont like fruits.

          • K2

            I meant I ‘can’ imagine people not liking vegatables.

          • walcon

            Give me a huge salad with every veggie in the world on it and a little sauteed chicken on top. Yum Yum!

          • socalbeachdude

            Why would you eat that sort of junk?

          • socalbeachdude

            Vegetables are horrible, and I certainly wouldn’t eat pizza with that junk put on it nor would I eat a burger with veggie junk on it and fruits as I said are very bad for you due to their high sugar content.

          • GSOB

            Eat Jesus

          • K2

            The effects of sugar in fruit are nutralised by the fiber/phytochemicals in it. If you dont want to eat then fine, but dont believe for a second that fruits are not healthy.

          • socalbeachdude

            False. SUGAR IS SUGAR IS SUGAR in any form in which it is consumed and it is a CHEMICAL that is not “neutralized” at all by other junk in fruits.

        • james ha

          ok i am in so. cal. and we get very good quality fruits/vegs here. there is no excuse not to take advantage of the essential vitamins that they provide.

          • socalbeachdude

            Fruits do not provide you with any “essential vitamins” at all and are good for little more than BIRD FOOD.

    • K

      I do not find Bloomberg to be a reliable source. They cherry pick their facts a lot. Those numbers do not in any way match my reality. Everything I buy in the grocery is up. Produce massively. The only thing I can agree on is eggs. So one thing going down, with everything else going up.

      • socalbeachdude

        Bloomberg is an EXTREMELY RELIABLE source of news and their numbers are highly accurate.

        My grocery bills have NEVER BEEN LOWER and there are enormous bargains all over the place here in Southern California at the major grocery stores. I just bought 4 31 oz. containers of Yuban coffee yesterday for $5 each ($2;50 per pound) at Vons among an array of other superb bargains. I got 4 10 oz. cans of chicken breast for $2.00 each at Ralphs. In fact, my pantries and freezer are so filled with bargains that I don’t have any more room to put those bargains.

        As a percentage of a family’s budget, FOOD COSTS HAVE NEVER BEEN LOWER THAN THEY ARE NOW IN THE US and comprise LESS THAN 10% of a typical family’s budget versus the historical norm of around 25%.

        • sharonsj

          Great food prices depends on where you live. My friend in Milwaukee tells me about great bargains, especially in milk and cheese, but she has to drive to a dozen stores to get them. I live in nowhere Pennsylvania, and I have a 35 mile round trip to the nearest big town where there is only one supermarket now running very good weekly sales–but only because they are up against the supersized Walmart.

          If I drove an hour to the nearest big city, and stood on line for another hour, I could get great prices on meats-but it wouldn’t be worth the time or the gas unless I could stock up for a month, and I don’t have the money for that anyway.

          And the list only covers food. Nothing about how pet food is up 50 to 100%. Or how every service, fee, tax, and non-food goods keep going up.

          • socalbeachdude

            I would suggest you learn to be a SAVVY SHOPPER and buy items on sale well in advance of when you need them.

          • jaxon64

            agree with this–I shop once a week even if I don’t need anything.
            I walk the aisles, find the sales and grab a half dozen or so for the pantry.
            A good example, in September/October the canned veggies dropped to 4 for $1 and I bought a case each of beans, peas, corn, sliced potatoes, whole small potatoes and mixed veggies…that’s 6 cases of 24 cans each for $36…now they are 89c per can or a little over $100 bucks if I were to buy the 6 cases.
            The shelf life is about 3 years and I have the storage space so I buy ketchup, mustard, salt, bags of rice, pasta noodles–whatever–when the price is “lower now than it ever will be again”.
            After a while it is self perpetuating since I am never forced to pay regular prices because I never run out. ( I also have a nice sized freezer to store packs of chicken breasts, roasts, pork chops, bacon or hotdogs,–even cheese freezes well)–just be disciplined and buy low.

          • socalbeachdude

            A++++ You are a very savvy shopper!!!

        • K

          Sorry when Bloomberg organized the Mayors against guns. Everything he said was a lie. All the money he paid, for phony studies. He is not quite Soros, but he is close. The man is an outright liar, sad you do not know it.

          • socalbeachdude

            Michael Bloomberg’s personal political views have nothing to do with the integrity of the EXCELLENT NEWS on the Bloomberg.com web site which is one of the best financial web sites out there.

          • K

            Really? An owners complete lack of integrity. Does not reflect on the company. You must work for CNN.

          • socalbeachdude

            Michael Bloomberg does not interfere with his news departments. As to the Clueless Nonsense Nitwits (CNN) they are the very epitome of FAKE NEWS right along with MessNBC.

            Trump v ‘fake news’ CNN: the rematch. President spars with the network’s White House correspondent – then rebrands it ‘VERY fake news’

            President Donald Trump called on CNN, who he routinely insults as ‘fake news’ at his White House press conference and took a shot at network president Jeff Zucker. Trump called on CNN’s White House correspondent Jim Acosta, whom he lambasted at a previous press conference, during a performance heavily laced with attacks on the ‘dishonest media.’ ‘Just because of the attack of fake news and attacking our network, I just want to ask you, sir…’ Acosta began as he caught Trump’s attention. Trump responded that, ‘I’m changing it from fake news, though,’ before announcing he would call the network ‘very fake news.’ ‘For the record, we don’t hate you, I don’t hate you,’ Acosta said at the start, apparently attempting to mend fences.

            http://www.dailymail.co.uk/news/article-4232594/Trump-face-fake-news-CNN.html

        • Rick

          You’re a lucky guy. Most of us are faced with the numbers Michael presented. Oh you can find a deal from time to time, but that certainly isn’t the norm.

          • SnodtBlossom

            geez,you must be poor to worry about the little increases in food costs.

          • walcon

            When I spent 100 bucks on the same items I bought just 4 years ago for 60 bucks- the prices are up!
            You must be rich- only a jerk would think the way you do. And yes there are people who survive paycheck to paycheck and small increases mean everything! You have a problem with that? Someday you and I may be in that same boat!

          • socalbeachdude

            You obviously do not know how to shop and obviously do not buy grocery items when they are on sale. Never buy things when you need them. Always buy things well in advance and stock up when they are on sale.

          • Mark

            I live in Southeastern PA and our groceries have gone up about 30% the last 4 years. If you look at certain items such as detergents their prices have gone more than say eggs or milk which have had lower price increases. Also many brand items like Dunkin’ Donuts and dial soap are creating smaller packaging with less product and charging more per oz. For instance, Dunkin had a 40 oz bag of coffee for 14.99 and was DISCONTINUED AND REPLACED WITH A 10 oz bag for $10. The 40 oz bag of coffee is now $40 bucks. Now that is inflation with the company trying to hide the cost. Same with dial soap. The bar is smaller while there was only a modest price increase. This has been gradually going in for the past couple of years but is definitely getting worse.

          • Taddy

            I also live in Southeastern PA. I have to agree with what socal said about stocking up BEFORE running out and getting stuff on sale.

            Not rich btw. I work part-time in a supermarket (where hours have been cut), but I shop for deals and coupon. For example, I have enough toilet paper to last me until May. However I’ll be going on FMLA when my pregnancy ends and have no short-term disability. So I’m stocking up on toilet paper now cause there’s a sale and I have coupons where I won’t need to stock up again until the end of the year.

            I’ve got 3 months of bare bones expenses saved up as well and stick to a budget. It can be done. It just takes diligence.

          • Mark

            I agree but food is still going up in price so even with coupons you are paying more than you did with the same coupon a couple of years ago. Buying in bulk is cheaper depending on what you need.

            On another note it has been nice a warm in southeastern PA and I cannot complain about the weather. Phillies started spring training and baseball is around the corner. Good luck and have a safe & healthy baby.

          • Mark

            Geez S h ! T b l o s s um,

            Since your an over weight broad that does not exercise or train your body in the martial arts maybe if you go on a DIET and not eat you will save a ton of money and lose a ton of weight at the same time. Now that’s a plan.

        • walcon

          Food here is 30% higher by average and 45% on others. Plain and simple.
          No one is going to bs me into thinking food prices are better than ever when I have been buying food for 40 years.
          Take a look at what you are buying. Think that steak is cheaper- the price is right but you are actually buying less steak pound wise- they are cut thinner. That can of beans used to be 15 oz, it is now 12 oz and with more water in it. There is more water placed in more cans and more meats and sizes are reduced to fool you- AND the prices are higher!
          Don’t try and pee down my back and tell me it’s raining- ain’t going to fly young man!

          • socalbeachdude

            You are quite obviously NOT A SAVVY SHOPPER and I would suggest that you learn to BE A SAVVY SHOPPER.

          • Mark

            I’m backkkkkkkk. You know in the day when things were affordable and life was better you did not have to be savvy. You watched sales and used coupons but food was more affordable and it did not take such a larger chunk out of a families budget. Also average household income is down $5000 in the last 10 years.

        • james ha

          socal i agree. i’m also from so. cal. and our groceries are as cheap as they’ve ever been. in fact, if you actually look for bargains you can cook/eat here for literally pennies.

      • Rick

        Ditto!

      • SnodtBlossom

        Well how much do you eat? I mean people whine about food, but socal is right.. eggs are cheap.. if you don’t like the cholesteral, toss the yolks.. Chicken is still cheap. I get a pound of frozen chopmeat at Walmart for $2.88.. I’m not whining.
        DollarTree is growing rapidly.. I’m happy to say mine is expanding. They have name brand cans of soup for $1 that actually have some nutrition to them unlike the meager old-time Campbells.
        All you people are whining about the small things when you whine about food unless you are gluttons.

        • GSOB

          Genesis 1:29

      • James Wentz

        The Jew name should tell you how reliable Bloomberg is (not).

    • moonma

      Just wait until the Fed raises rates above 1%.

      KING DOLLAR will crush all high prices into the ground!

    • GSOB

      Psalm 104:27

  • socalbeachdude

    Food is a MUCH SMALLER portion of a typical family’s budget than it has ever been in America and is not much of a cost concern at all relative to those things that really cost huge amounts of money such as housing, vehicle, and medical expenses. Back in the 1970s food costs accounted for around 25% of a typical family’s budget whereas today those costs are down to only around 10% of a typical family’s budget throughout the US.

    • LIZ THE SHIZ

      to you try to be deliberately misleading? laughably stupidly FALSE!!!!!!

      • SnodtBlossom

        Verschwinde von hier, du verdammter Idiot

        • LIZ THE SHIZ

          BABEL FISH STICKS

          • SnodtBlossom

            Ernsthaft Arschloch, ich will dich von dieser Website

      • socalbeachdude

        What I stated is 100% correct.

        There have NEVER BEEN BETTER BARGAINS at the grocery stores here in California with all of the sales and manager’s specials available. Food as a percentage of a typical family’s budget is now less than 10% versus the historical norm of 25% and has NEVER BEEN LESS AS A PERCENTAGE OF A TYPICAL FAMILY’S BUDGET. My freezer and pantries are so overstocked with all of the abundance of bargains that there is no more room to even put any more bargain I just bought 2 27 oz. cans of Herdez Jalapenos for $1.39 each on sale at Vons and got 4 pounds of Farmland rolled sausage for $6.50 at Ralphs. as well a a l.5 pound loaf of excellent Van de Kamps Western Hearth 12 grain bread for 99 cents.

  • socalbeachdude

    As to DEFLATION, Rex Nutting at MarketWatch recently noted:

    Energy and food prices are down in the past year. Many manufactured goods are cheaper now than a year ago.

    Here are some specifics:

    Beef down 6% from Feb. 2015 to Feb. 2016.
    Pork down 7.3%.
    Chicken down 4%.
    Milk down 5%.
    Coffee down 1.5%.
    Gasoline down 20.7%
    Fuel oil down 32.1%
    Electricity down 3%
    Natural gas down 10.3%
    Household furnishings down 1.0%, appliances down 5.7%, Furniture down 0.6%
    Car parts down 0.4%
    Televisions down 15%
    Toys down 7%
    Computers down 7.9%
    Phones down 16.2%
    Air fares down 1.8%
    Wireless phone services down 0.3%
    Internet access down 0.7%.

    http://www.marketwatch.com/story/is-janet-yellen-blind-to-the-rebound-in-inflation-2016-03-18

    • Wizard of Aus

      Come back to MW, Chas

    • rentslave

      Rent will always prove Newton wrong.It’s to the Moon,Alice!

    • Paul Patriot

      Rex nutting can type all the data he wants, and I am not sure what planet he is on, but the REALITY is, I have lived in 3 different US states since 2008, and many of the numbers you copy and past from market watch, are not reality in my experience.

      • socalbeachdude

        Rex Nutting is 100% correct as to that list of items on which the prices have gone down.

  • Cinderella Man

    It just shows you commodities beats fiat any day! The prices for raw materials and agricultural goods are the true bellwethers of an economy. Not stock markets. Great article.

    • socalbeachdude

      Most all of the world’s 27 major commodities prices have been PLUNGING for the past 6 years since their peaks in September 2011 which is evidence of the HUGE DEFLATIONARY SPIRAL that the world is now experiencing with no end in sight for price declines.

  • NorthernBud

    Great article.

    I noticed that these increases are over the past ten years. So just because something went down a bit in price in the past year or two means nothing.

    • socalbeachdude

      Nope. Prices declining over the past 2 years indicate a TREND that is now intensifying with increased DEFLATION on various products including food commodities, good, and energy products and services. Keep in mind that prices can only ever fall up to 100%.

  • socalbeachdude

    From a risk-of-bankruptcy standpoint, the retail business is the new oil and gas

    Move over, oil and gas.

    Retail is set to replace the troubled energy sector as the most distressed sector this year, according to ratings agencies, lawyers and analysts, beaten down by the strain of competition from juggernaut Amazon.com Inc. AMZN, +0.75% and a range of other issues.

    The sector’s future is looking increasingly gloomy, with the cost of digital investments, trimming excessive store locations and lagging revenue amid declining traffic setting the stage for a spate of bankruptcies and restructurings in 2017 and 2018, experts say. The sector is grappling with changing consumer behavior and shrinking discretionary spending as consumers are faced with higher prices for everything from rent to prescriptions to gasoline.

    Fitch Ratings’ “Bonds of Concern” list is filled with retailers, and the agency is expecting the default rate for the sector to jump to 9% in 2017 from 1% over the last 12 months. The retail sector had $38.9 billion in outstanding debt as of December. Research firm CreditSights has an underperform rating on the sector’s bonds.

    http://www.marketwatch.com/story/retail-industry-is-expected-to-replace-oil-and-gas-as-2017s-distressed-sector-2017-02-15?siteid=YAHOOB

  • socalbeachdude

    Nearly everyone from 100 years ago is now dead and they were paid a tiny miniscule fraction of what people are paid today.

    As to the value of the US dollar over the past 100 years…

    No, the dollar did NOT really lose 95% of its value since 1913

    Let us take at the period from 1913-2006, where we have complete data. So what do they mean, when they say the dollar lost 95.1% of its value in those 93 years? Essentially, an average good/service that cost $1 in 2006, used to be priced at 4.9 cents in 1913. In other words, the average price level of goods/services increased by 1930% since 1913. True, but guess what, average earned income increased by 6560% during the same time period. Average earned income rose from $740/yr in 1913 to $49,300/yr in 2006. Adjusting for inflation, $740/yr in 1913 is $15,000/yr in 2006 dollars. Average incomes, not only kept pace, but beat price inflation by 230%.

    So does it make any sense all to say the dollar lost value? In reality, the REAL purchasing power of the average American, has increased by 230% in the past century. Sure, prices were cheap in 1913, but $740/yr doesn’t buy you a whole lot, not anymore than 15,000/yr today.

    http://realfactbias.blogspot.com/2012/02/no-dollar-did-not-really-lose-95-of-its.html

    • rentslave

      That won’t be repeated.The next 100 years will bring PTA-Pain,Torture,Agony by the Rothschilds(and those who will NEVER allow sports betting to Leave Las Vegas).

      • socalbeachdude

        Huh?

        • Mike

          Seems to me u got yr rosay glasses on, u a bit taken in and an optimist, probably spends way to much time at the beach. Heheh.

          • socalbeachdude

            Seems to me that my facts are totally accurate on all of these matters.

    • Paul Patriot

      You are not including other facts into the mix, such as health care, housing, insurance. The dollar continues to lose its value. The dollar is backed by oil and coal after it was removed from gold standard, the federal reserve note is barely worth the cost to print it.

      Again, your data is wonderful but, as a 51 year old man, my experience and the experience of hundreds of people in my sphere of influence confirms that the dollar is not increasing in value.

      I have traveled abroad several times since 2008 and each time I visit, the dollar buys me less and less.

      • socalbeachdude

        Insurance costs overall are very low and are down significantly from what they were 20 years ago. Medical expenses costs including medical expense insurance are up considerably and that has to do not with inflation but with MASSIVE PRICE GOUGING in the hospital and pharmaceutical industries.

        The US dollar CONTINUES TO GAIN VALUE and has literally soared in value on the DXY (currency basket) and is over 100 and headed much higher and its purchasing power against most all commodities is up 50% to 100% over what it was in 2011 including against fungible metal commodities such as silver and gold and platinum.

    • im4truth4all

      Not everything is in the cpi. How about taxes, i.e. Federal and state income taxes, sales taxes, excise taxes, etc. There was virtually no Federal and State income taxes and no social security taxes in 1913. An individual in 1913 took home 100% of that $ 740 – not so today. Rather than look at the cpi which, I believe, is manipulated, other data show that the middle class is shrinking. There are numerous factors other than the cpi to be considered.

      • socalbeachdude

        Yes, federal income taxes and state taxes are a factor that wasn’t present back in 1913 and that is a very valid point you are making. Social Security taxes, however, are balanced with Social Security benefits which are far in excess of what anyone has ever paid for them in that insurance program which is not a tax.

    • Mike

      the average price level of goods/services increased by 1930% since
      1913. True, but guess what, average earned income increased by 6560%

      (end quote)

      If thats true, we should all be rich. Logics, think about it.

      • socalbeachdude

        You have to factor in taxes at the federal and state levels and the much higher standard of living today than back in the day.

    • Rick

      I think we all get confused by the term dollar. Is dollar the same as currency? What is the dollar backed by now? It’s backed by IOUs, or in other word, debt. Back in the day the Fed was created and all the way up to Nixon, it was backed by gold. So maybe we should take a look at what gold would buy in 1920 vs. what it will buy today. Let’s say you needed a fine suit in 1920. You could plop down a $20 gold piece, about an ounce, and you’d get a pretty good suit. Today if you plopped down a 20 dollar bill backed by IOUs, you might get a good parking spot in front of the store. But, today if you plop down an ounce of gold, you will get a pretty nice suit.
      So point is, the dollar actually has lost its purchasing power, due to a number of factors, but gold and other precious metals really have not. We’ve got to compare apples to apples.

      • socalbeachdude

        By your own admission, your are confused.

        Obviously, the US dollar is the CURRENCY OF THE USA. All currencies are backed by the current and future assets and labor and productivity of the people of the issuing country. Obviously, the purposes of tying any currency to any “thingy” that the currency can be redeemed for or “backed by” are:

        1) to “anchor” the currency against a “physical hard asset” with a real or perceived value to directly support the value of that currency

        2) to limit the supply of that currency to a specific and slow growth factor such as not allowing a currency to expand in supply each year more than the production of that thingy in that year.

        3) to prevent “debasement” of that currency by both means above in order to attempt to create a stable and unchanging value for that currency itself regardless of other economic conditions and factors

        Those are obviously also the VERY CORE SHORTCOMINGS OF ANY THINGY BASED CURRENCY because tying it to any particularly thingy or basket of thingies PREVENTS THE SUPPLY OF THAT CURRENCY FROM EXPANDING ALONG WITH A GROWING POPULATION and that is primarily why thingy backing of any currency has been discarded long ago as a failed experiment.

        In the case of gold, there is simply FAR TOO LITTLE OF IT TO BACK ANY CURRENCY, even a very small currency. There are only around 180,000 metric tonnes of gold ever mined and nearly 70% of that gold is in the form of privately held jewelry widely dispersed around the world leaving only about 54,000 metric tonnes even in the form of bullion that could be used for any monetary purposes and that is widely dispersed among the countries of the world.

        Even if all of the 180,000 metric tonnes of gold were magically gathered into one place and a new GOLDLAR currency was created entirely backed by it the total value of that currency for everyone in the world would be less than $7 trillion even at today’s highly elevated prices for gold and would result, if equally distributed by decree, in less than $100 for each of the 7+ billion people of the world. Obviously, that wouldn’t work at all.

        Even with a basket of thingies, the population of the world is so large that no basket of thingies could be used to back any but the smallest of currencies.

        The fatal flaw of backing currencies with thingies is that it ARTIFICIALLY LIMITS THE EXPANSION OF THAT CURRENCY which totally prevents an adequate supply of that currency to exist in any economy.

        • Rick

          I guess we’ll need to agree to disagree on that.

  • Bob

    Not only have prices risen, but also portion sizes have lessened. My 16 oz. jar of peanut butter now measures 14 ozs. Refried beans now measure 15 ozs. People complain when they buy potato chips, air occupies half the bag. This practice covertly raises inflation numbers even more.

    • socalbeachdude

      Always price everything by the POUND to determine the actual price. Most grocery stores have labels that already clearly calculate the price per ounce on all food for you.

  • billtheguy

    Wow! Who do I believe? Michael? SOCALBEACHDUDE? I believe myself! The price of food has gone up, in my area of Ohio. I agree with Bob, cereal boxes are just as tall but have got a lot thinner. Bread has gone up $.20 in the past 2 months. Beef prices jumps around a lot, but the average has gone up.

    • socalbeachdude

      The price of food is WAY DOWN now over 2 years ago and if you are a SAVVY SHOPPER you can get the best deals everywhere. Cereal is often on sale for as little as $1.49 per box including large box sizes. Bread is way down in prices and if you buy day old bread on manager special you can get it for as low as 39 cents per loaf.

      • GSOB

        Matthew 6:33

    • GSOB

      Psalm 136:25

  • G.A.

    Glad I don’t smoke! Inflation is real and is crushing the middle class. Tax burdens suffered by the middle class and small business owners are just as bad if not worse. Not only are we paying the inflated prices for our own families we are also paying it on all the entitlements the non-contributors get.

    Do your best now to get out of personal debt and become as self-sufficient as possible. What’s left of the middle class can only carry everybody else for so long then it will all come crashing down

    • William Lutz

      I’ve been smoking like a chimney since Trump became president.

      • socalbeachdude

        Donald Trump is a GREAT PRESIDENT and will be one of the best in the history of the USA.

      • aldownunder

        Smoking other males appendages

      • jaxon64

        smoking something–at least we now understand why you are relegated to sitting in mommy’s basement trolling the adults who discuss big boy topics like the economy.

      • James Wentz

        Good! Hopefully, you have a heart attack soon!

        • socalbeachdude

          Never will ill on others.

  • Cal

    Soon a days wage to buy a loaf a bread. Give JFK some credit he tried to bypass the central bank by issuing silver certificates in 1963 in lieu of debt ridden and unconstitutional federal reserve notes. Congress is suppose to control the value of money (coining) but this constitutional principle is long gone. JFK issued paper currency also but at least these notes had the backing of silver. Federal reserve notes are backed by nothing.

    • socalbeachdude

      Nope. Bread prices are plunging and we are in an intensifying GLOBAL DEFLATIONARY SPIRAL. JFK did no such thing at all as you erroneously assert with silver certificates in 1963 and his Executive Order 11110 was involved with ENDING SILVER CERTIFICATES. Executive Order 11110 was about blue seal Silver Certificates which were being retired and withdrawn as printed US dollars from the currency.

  • Alberto Francis

    “one of the biggest culprits is inflation”? The fact that corporations hallowed out middle america, moved all production overseas, kept all those profits off shore so they could not be taxed, and than used cheap credit as an escape goat to offset the fact that wages have been stagnant for 30+ years… Your title is misleading…

    The title should read – “Lack of wage increase and good paying jobs moving over seas results in inflation…”

    That would be a more honest title

    Inflation is a product of all the above mentioned not a cause. Inflation doesn’t, just pop up out of the ground people. You have to systemically stagnate or worse reduce the wages of people while the cost of living goes up to cause inflation. The top 1 percent feel no inflation because their income has been ahead of the curve while the 99 has been way behind.

    • socalbeachdude

      The biggest component of any broad general inflation is WAGE INCREASE and to avoid any broad general inflation it is imperative to hold down any increases in wages in an economy.

      • Guest

        Soo keep wages stagnat or lower and everything will work out, alright.

  • Marc

    In other news the Dow Jones is up >27%, FTSE >24%, DAX >28%, CAC >19% etc. in the last year. Even, the price of Gold coins has increased slightly in recent weeks. This site and others said ‘the big one’ was coming in 2015, then it was 2016, apparently predictions were made in 2014 and even before. Yes – the big crash will eventually come. In the mean time, prepare but don’t bury your head in the sand.

    • socalbeachdude

      All leading to a much sharper impending crash.

  • horn blower

    Ones ‘buying’ power is the key. What your food cart can hold week after week, month after month after paying $130 today vs $130 eight years ago, heck even 16 years ago tells you plainly there is inflation, our dollar worth is shrinking. $1 fiat does not buy you as much as one silver dollar.

  • LIZ THE SHIZ

    that list seems to highlight mostly items that are unhealthy , sounds like another elitist plot to regulate your personal life because we are too stupid to do it for ourselves, oh but they can eat caviar and drink Dom Peringnon champagne , what hypocrites

  • Mondobeyondo

    Inflation in 2017 may not be the monster it was in the mid-1970’s, but Make No Mistake [(c) 2008 Barack H. Obama], inflation is still here, and it will be a VERY inportant factor in the months and years to come.

    If the Fed ever gets that quantitative easing machine going again, it’s almost a guarantee inflation will increase.

    • socalbeachdude

      The Federal Reserve versions of QE did not add any money at all to the economy and did not result in any net gains whatsoever for the banks from whom the Federal Reserve purchased existing securities. All of the QE funds have remained INSIDE THE FEDERAL RESERVE.

  • DJohn1

    There is very little in the way of inflation right now. If you do not believe that join all of the people collecting Social Security at this time.
    In the last 8 years we have had 2 or 3 raises and it amounted to nothing.
    I project my benefits over a year’s time(52 weeks, not 48) and the net increase each time is less than $7 a week.
    Yet 3 times a year we have a month with 5 weeks in it. So you have to compensate for the extra week with no pay attached to it.
    My read on the internet indicates the whole program might collapse at any time because the government used the money in the general fund to fund wars. Social Security goes straight to the general fund.
    COLA has been corrupted during the Obama Administration and probably the whole program is no longer effective in keeping things straight. Prices go up. Our pensions do not.
    Can you go without money coming in for 4 weeks every year?
    Yet we have Republican Congress people telling us the whole program is broke and it will be in the red by (and the number varies) XXXX and everyone will not get a check soon.
    The common Republican answer is we will have to revise COLA and we will have to up the time when a person can collect Social Security benefits.
    The entire purpose of SS is to collect a hidden tax and not pay out anything if they can possibly help it.
    Did all old people just get off of the turnip truck?
    I literally think some Congress people think so.
    I don’t want to mention any particular Congress person. Go to the internet if you want particulars.
    Our entire pension system from private industry is also in jeopardy.
    There are no raises in the private system and many are close to bankruptcy right now. That means we are all screwed when this stock market crash you keep talking about happens.
    We follow government in their use of spending money they do not have to spend. The resulting price increases of everything under the sun is the result.
    But now they have mandated insurance as a tax and a penalty to anyone that does not have it, the private sector is also hurting pretty bad.
    The fact is that discretionary income after you pay all your bills is pushing more and more people into a Social Welfare System.
    Obamacare did destroy most of the free cash we have after paying our bills.
    SO let us look at how the Republican side of things wants to help us.
    They want to cut off the $1 store values coming from China.
    So how does that work to lower the cost of living?
    Here is the thing: They don’t want to help us.
    Neither do the Democrats.
    I predict:
    When and if we go down the path these people want to regulate us for that there will be a cost increase of most goods from $1 to $5 minimum.
    Both private sector wages and our pensions will end up buying 1/5 or 20% less than they do right now.
    They will hound Trump out of office if given the opportunity.
    There will be rioting in the streets as long as George pays for it.
    The Democrats currently thrown out of office by popular vote this year will continue to conspire against the current regime and they are influencing a whole lot of people doing it.
    Simply put, our representatives do not have the guts to do the things that are going to have to be done to straighten this country out. These same people are conspiring to figure out how to keep the Social Medicine aspects of the Obamacare administration in place. Not do away with the law like they promised to do. They will replace it with something worse.
    What they do have is an excellent ability to fog things up with nit-picking everything Donald Trump does.
    They are using laws never meant to be used in this particular case concerning immigration and illegal immigrants.
    They are out to financially ruin Donald Trump while he is in office.
    The acts of sedition are serious business and they do not have the guts to enforce the written laws of our land.

  • DJohn1

    I bring this Social Security, Industrial Pensions, and raises for the common individual up because at least one third of the country falls into these categories. And the compounding results are the cause of the coming inflationary depression.
    And every person out there working for a living will be messed over financially when this group of people of both parties fail to give back a small portion of the taxes they now collect.
    The campaign promises were to do away with Social health benefits under Obamacare. They are supposed to do away with that legislation of Obamacare. Not put something equally bad in its place.
    Right now my secondary insurance went from a deductable of $600 to one of $6,000 dollars a year.
    And that company is not alone. They are going broke collecting more money than they ever did in the past due to the increased liability of the insurance program dictated by law.
    It did not work. So get rid of it and don’t replace it, all ready.

    • socalbeachdude

      100% correct.

  • DiegodePaloma

    How can we forget the cost of college, student loans are well over one trillion dollars and rising fast. The average student spends five years getting a BS/BA degree at the astronomical cost of 80K to 300K at a good private university. What people really need; housing, health care, food, and education are all rising above 3% a year at least. All four have one thing in common, a great deal of government involvement.

    • William Lutz

      Yet the education establishment keeps convincing young people like me to spend non existent money on a stupid “higher education”.

    • socalbeachdude

      Food costs have been falling significantly for the past several years. Tuition prices are nothing other than PRICE GOUGING and all federal funding of student loans should be totally shut off and that would cause tuition costs to plummet, and the same is true with medical expense costs which should not get any federal government funding at all. As to housing prices real estate is in a major BUBBLE and is already starting to crash again in various areas of the country.

      You are 100% correct that what these elevated prices have in common is federal GOVERNMENT INVOLVEMENT without which the markets would actually bring the prices back down to stable and appropriate levels.

  • William Lutz

    Told you so! Just like Michael pointed out, Trump is not a superhero with magic superpowers to save the economy.

    Even if we truly want Obamacare to be fully repealed among other things, the damage is irreversible. If we quit spending, we stop incurring debt yet risk losing essential services and resources. If we continue spending, we keep our essentials functioning while fueling our debt. It’s a win/lose situation that will end up in disaster either way.

    Nobody has the ability to bring back prosperity. Time is running very short, so live life like if you were terminally ill.

  • socalbeachdude
  • pulltheweeds

    if food prices are dropping then why are more people on food stamps than ever before in the history of this nation ?

    • socalbeachdude

      What on earth does SNAP (food stamps) have to do with the prices of food? What it is based on is INCOME LEVEL with asset testing for maximum liquid assets of no more than $2,000 (though some states ignore that) and not food prices and nearly 50 million people are now on SNAP in the USA which is a record high.

  • socalbeachdude

    CONGRESS CRAWL…

    TAX CUTS STALL…

    OBAMACARE FOR ALL…

    WINTER SLUMBER: Republican passivity during first month of Trump…

    COULTER: House passed SIX Obamacare repeals when Obama was president! Now NOTHING…

    http://www.anncoulter.com/columns/2017-02-15.html

  • pulltheweeds

    go to a grocery store and figure it out

    • socalbeachdude

      As to groceries, my grocery bills have NEVER BEEN LOWER and there are enormous bargains all over the place here in Southern California at the major grocery stores. I just bought 4 31 oz. containers of Yuban coffee yesterday for $5 each ($2;50 per pound) at Vons among an array of other superb bargains. I got 4 10 oz. cans of chicken breast for $2.00 each at Ralphs. In fact, my pantries and freezer are so filled with bargains that I don’t have any more room to put those bargains.

      As a percentage of a family’s budget, FOOD COSTS HAVE NEVER BEEN LOWER THAN THEY ARE NOW IN THE US and comprise LESS THAN 10% of a typical family’s budget versus the historical norm of around 25%.

      Learn to be a SAVVY SHOPPER!

      • Kissmagrits

        Maybe everyone in the entire country should move to Southern California where all the bargains, bargains, bargains, supeeeeeeeeeeerb bargains are.

        • socalbeachdude

          We have a large number of grocery stores here in Southern California and there is intense price competition among most of those stores. The best deals are at Ralphs (Kroger) which gives away a free item every week and which always has lots of manager specials marked down 50% to 75% or more from their original prices.

          • Kissmagrits

            “Chatterbot”

  • pulltheweeds

    i live in the real world dude . not some storybook government statistical playbook

  • Mark B.

    Save $ skip meats & tobacco for healthier vegan lifestyle!

  • Richard O. Mann

    Sooner or later the game is going to end. This world has an expiration date on it, and we are fast approaching that day.

    • socalbeachdude

      Nope, but all folks as individuals do!

  • Jack Frost

    This must be fake news. If there was REAL inflation then Priestess Yellen would deliver that news from the almighty Reserve.

    • socalbeachdude

      There is no broad general inflation at all in the US.

  • Rick

    Michael, I agree with your take on things here. I would just say this debt was created during the past 8 years, and we need to call a spade a spade and place blame directly where it belongs, on Obama and his policy.
    As for your list of 20, as a healthcare professional, I find it ironic that only 5 of them are actually somewhat good for our health. So if we just eliminated 75% of the utilization of bad foods on this list, maybe we could also reduce, or eliminate #5 on it as well. And we could dramatically reduce chronic disease with great nutrition choices. Of course this would save trillions of dollars in spend.

    • socalbeachdude

      Most of the $20 trillion in federal government debt has been created since 1981 when Ronald Reagan became President and all of it has been AUTHORIZED BY CONGRESS and then signed into law by whatever President was in the White House. Prior to 1981 the total federal debt which took more than 200 years to accumulate was “only” about $1 trillion and $19 trillion has been added since then including almost $10 trillion added during the past 8 years when Obama was President.

      The federal government debt of nearly $20 trillion is only about ONE THIRD of the total outstanding debt in the USA which is now more than $64 trillion.

      As to food, that has little to nothing to do with medical expense costs and there are wide divergencies of opinion – all backed by research – as to whether high fat, high carbohydrate, or high protein diets are “best” for people. The fact is that all food is just a composition of CHEMICALS and food is food is food and it really doesn’t matter much at all what folks eat.

      The core problem with medical expense costs is MASSIVE PRICE GOUGING by the hospital and pharmaceutical industries and the fact that life is being prolonged more than ever. The average life expectancy 100 years ago was only about 43 year old whereas today it is around 80 years old. The old folks get the more medical expenses they occur with the largest amount of those being incurred just before they die as all patients inevitably do.

    • William Lutz

      No. This debt problem really started at the beginning of the 21st century, when George Dubya took office. Then, along came Obama and made it even worse.

      • socalbeachdude

        The massive debt problem started in 1981 at the government level and across all sectors of the US economy and has been skyrocketing ever since.

    • Carl

      Rick since you work in health care please explain to me how it is legal for hospitals and doctors to charge different pricing to different people for the same service? Insurance companies all get different rates, those without insurance yet another rate. This is a violation of the Robinson-Patman Act passed in 1936.

      • socalbeachdude

        Insurance companies are free to NEGOTIATE RATES DOWNWARDS FOR THEIR INSUREDS and that does not raise prices for anyone else but simply acts as a discounts to insureds.

        • Carl

          You are missing the point. The insurance company tells the hospital that they will only pay x number of dollars for an MRI. The hospital accepts that is the value of an MRI and accepts this as payment. An uninsured person goes in for same MRI and gets charged 6 times what the insurance company is charged.

          The fact is that once hospitals went for profit they were automatically violating this act by taking one price from one group for said service and another price from another group for same said service.

          When hospitals accept different payments from different payers for identical
          services it is price discrimination. Just because they get away with it does not mean it is legal.

          • socalbeachdude

            So what? How is that in any way a violation of the act you pointed out?

          • Carl

            I did further research and non-profit hospitals are required by federal law to charge uninsured patients non chargemaster rates and what a medicare patient would pay. So if you are uninsured make sure you know which hospitals are non-profit in your area and go to them if you have an emergency.

            Plus yes it is a violation of the act whether or not they force these greedy hospitals to comply with it. As you know there are many laws on the books that are ignored and Congress just keeps enacting more laws rather than enforcing the laws already in place.

          • socalbeachdude

            Forty years ago 90% of hospitals were non-profit whereas 40 years late 90% of hospitals are FOR-PROFIT hospitals.

            There is no violation at all of that act to provide discounted negotiated prices to specific insurance companies.

          • Carl

            Not true. There are still many non-profit hospitals yet they are billing and acting like for profit hospitals which is illegal. Just do a search in your area to see how many there are.

            As for the for profit hospitals well they are just immoral, greedy pigs.

            People can thanks Regan for the start of this corrupt b.s. we are stuck with.

            Ironic that these hospitals and insurance companies will spend millions lobbying for this and that and force sick people to fight for treatments to save their lives.

            This whole world is a disgusting corrupt place. If you are a have you see the world as great and perfectly fine. If you are a have not you see the same world through and entirely different mindset.

            I am not talking about people who intentionally bilk the system. Who want a free ride at the tax payers expense.

            I am talking about people who work for a living and try and do the right things and then find out that the whole playing field they thought was level is NOT even close to being level. In fact the whole thing is so lopsided it is unreal.

            The only recourse is to fight dirty like they do. Use the loopholes like they do. Take advantage like they do whenever possible.That is the only thing they understand. And who knows maybe that is exactly what this universe wants us to to. To balance it out and in turn this will level the playing field.

            That is why they love the religious. The sheep are always trying to work within the system they never setup and they get fleeced for it. Time to start working outside the system and create a new world.

          • socalbeachdude

            False. 90% of hospitals in the US today are for-profit hospitals owned by large “health care” corporations. Your assertions regarding the billing practices of non-profit hospitals is totally false. Name one single hospital that does that.

          • Carl

            For gods sakes just type in non profit hospitals in CA or OH or where ever to see that there are non profit hospitals in every state and then do the same with the term for profit.

            Non profit hospitals get tax exemptions on the federal level and even state level and are supposed to conduct themselves differently than for profit hospitals. BUT many do not. And most do not get caught because lower income people many times do not know that they are eligible for lower cost if not free medical care based on their income.

            Without knowledge you are at a disadvantage and many lie by omission.

          • socalbeachdude

            Once again, today 90% of the hospitals are owned and operated by FOR PROFIT HOSPITAL CORPORATIONS.

          • Carl

            NOT TRUE.

        • Carl

          Insurance should be used to cover a part of the cost of whatever medical procedures you require. What insurance should NOT be able to do is get a lower price for said customer compared to a person with no insurance or a different insurance company that did not negotiate a better price for the group.

          The hospital and doctors are fleecing people with chargemaster rates that Congress should have made illegal a long time ago.

          If what is negotiated between the hospital and insurance company is considered a fair and reasonable price then it should be the standard price for all NOT just for some.

      • Rick

        Carl, you bring up the Robinson-Patman Act, but when you look at it, it does just the opposite of what you say. It protects against “anti-competitive” business practices, most specifically price setting. Price setting is when all the competitors secretly gather to set prices for a certain product, service, or in the example of Major League Baseball from the early 1970s, player salaries. Hence was born the era of free agency after the owners were found guilty in this area. They were taking away the free market price of what the players could earn by secretly agreeing to pay less. So when you say hospitals and insurance companies can charge more or less for the same service, that’s a great thing. It’s called competition. So it’s up to us as consumers of healthcare to shop around for the most competitive prices, and drive the gaugers out of business by not using their services. Now beware, just as with everything else, cheapest doesn’t always mean highest quality. In fact it rarely does. So when it comes to top quality care, expect to pay a little more.

        • Carl

          No Rick that is not what the act does. It clearly states that you cannot charge one person one price for something and another person a different price because they have more money, etc.

          When a person is sick they cannot shop around as you say for treatment. Sometimes you have to go wherever and are not able to do that.

          Considering that there are so many medical errors by doctors even expensive does not mean you will get quality care. Thus the reason doctors have to have so much malpractice insurance because of how much they screw up.

  • Special Little Snowflake

    Globalization is killing the middle class while making the lives of both the poor and rich better throughout the world. The private debt has just made it worse. The question is how do we improve the middle class while simultaneously improving the poor as well.

    Canceling the debts of the 99% would be a good start, but not the end all be all.

    • socalbeachdude

      No debt – obviously – are going to be cancelled at all and the flip side of all debt is that it is held as a ASSET to the party who owns it.

      • Special Little Snowflake

        You act like this has never happened before. After WW2 we cancelled the debts of what the German citizens owed the Nazis and gave them a clean slate to start over.
        Back in ancient Babylon times, when there was a new ruler, they would cancel the debts of the people. They did that because at a certain point the interest on the debts would keep compounding so much, that the people could not pay and would be forced into servitude untill the debts were repaid.

        • socalbeachdude

          The US government never cancelled a single penny of its own debt and that debt is now nearly $20 trillion and growing at a rate of around $1.4 trillion a year. All of that debt is held as an ASSET by its owners and even suggesting “canceling” it would result in a massive COLLAPSE OF THE BOND MARKETS.

  • Bruce

    I don’t need Bloomberg or any statistical website to tell me things are going up. My light bill, water bill, insurance bill and cable bill tell me that each and every month I get reminded.

    • William Lutz

      And every time I go grocery shopping I see the outrageous price tags on certain items such as beef, cheese, nuts, berries, etc.

      • socalbeachdude

        You are obviously not a savvy shopper. I wait to buy cheese until it drops to $3 per pound, and just bought 5 pounds of Honey Roasted Kroger Peanuts for $1.99 each and just stock them until I want to use them. Learn to be a savvy shopper.

    • socalbeachdude

      Electricity and insurance rates have barely changed and you should talk to your cable company to reduce those rates. I just got DirecTV to cut $25 per month off the bill. Water bills are also barely changed and you can easily cut back on water usage particularly in rainy weather.

  • socalbeachdude

    Pay attention to prices and learn to be a savvy shopper and you’ll save big money.

  • socalbeachdude

    No, junk like fruit and vegetables is not in any way essential to anything and not fit for anything other than the garbage can. All fruits are LOADED WITH SUGAR and very bad for you and about the only fruit I eat is avocados and tomatoes in very sparing quantities. ALL FOOD HAS NUTRITIONAL VALUE and fruits and vegetables have among the LEAST NUTRITIONAL VALUE of all foods. The best foods are HIGH PROTEIN FOODS such as meats and seafood and are typically the most expensive of the various foods available. I particularly like Deli style foods which are both delicious and great to eat. Whatever fruit grows on my trees (apricots, plums, etc.) I just leave for the birds to eat.

    • K2

      Fruits are loaded with sugar, but that is not harmful because they are loaded with fiber and phytochemicals, that negate the effects of the sugar in fruits. I dont disagree about seafood, but your comments about fruits are ignorant.

      Seriously stick to talk about economy and finance, you dont know squat about nutrition.

      • socalbeachdude

        Sugar is sugar is sugar no matter what the source of that sugar is and it is one of the worst things in people’s diets not to mention the most fattening.

        • K2

          Sugar is energy. And eating fruits wont make you fat. Its fine if you dont want to eat fruits( its your right what you want to eat), but dont think they are unhealthy

          • socalbeachdude

            Carbohydrates also TURN INTO SUGAR when digested and that is one reason why poor people who eat lots of pasta and other stuff like that are often so far. Fruits taste horrible for the most part and have NO NUTRITIONAL VALUE AT ALL for the most part, although I do keep pies around, particularly apple pie.

  • Carl

    Margarine is bad for you. Eat butter not chemical processed plastic garbage.

    • socalbeachdude

      I rarely use any butter or margarine on anything but when I do I use butter. A single pound of butter lasts me around an entire year. Margarine is VEGETABLE OIL and is not bad for you at all, and it has nothing at all to do with “plastic.”

      • Carl

        Good catch. I was waiting to see if anyone would rebuke the margarine is plastic lie. Though I do believe it is more chemically processed than its much maligned butter cousin. I prefer to keep things as natural as possible. It seems when man gets involved in improving on nature they create more problems than they solve.

  • socalbeachdude

    I just went to the grocery store – Ralphs here in Southern California – and got 2 packages of Private Selection Genoa Salami (1 lb. each) for $1.98 total and a 3 lb. container of Ralph’s Deli Southern Potato Salad for $3.09 which is 5 pounds of food for a grand total of $5.07 this evening.

  • socalbeachdude
  • socalbeachdude
  • socalbeachdude

    Which diet should YOU try? Read this: Top nutritionist puts 7 eating plans to the test to see which ranks best and which falls flat

    Nutritionist Shereen Lehman has put seven popular diets to the test – listing their pros and cons. The Mediterranean Diet came in first and now we present the remaining six from best to worst.

    http://www.dailymail.co.uk/health/article-4232726/Nutritionist-puts-7-eating-plans-test.html

    • GSOB

      Psalm 145:15

  • Feb 16, 2017 “Seriously Delinquent” Auto Loans Surge

    Bank regulators have been warning, now it’s happening.

    The New York Fed, in its Household Debt and Credit Report for the fourth quarter 2016, put it this way today: “Household debt increases substantially, approaching previous peak.” It jumped by $226 billion in the quarter, or 1.8%, to the glorious level of $12.58 trillion, “only $99 billion shy of its 2008 third quarter peak.”

    http://wolfstreet.com/2017/02/16/seriously-delinquent-auto-loans-subprime/

  • robert

    Americans got used to the middle class idea which was a temporary part of our history. Most of our history has had many more in the lower socio-economic class than middle or upper class. Credit binges established a lifestyle that is unsustainable. Families are now often single parent and therefore can never get the income necessary for a middle class life. Yet, most families have at least one if not more televisions, cable or satellite, smartphones, computers, computer games etc. Then there is the trip to Disney World which has almost become an inalienable right. The boomer generation has most of the money. Many have second homes. Boomers are the least productive yet have the most capital. Not all, but much of it. Yet, who gets the discount in stores and restaurants? Seniors. Younger folks who go to college, a waste of time for most, are ripped off in many ways. Ripped off by liberal college administrators etc. Mr. Trump cannot fix the problem of incomes nor the lack of “good paying” jobs. If for no other reason than the fact that one smart guy with a powerful computer can do the work that 20 others used to do. Throw robots into the mix and the world of work is going to get worse, not better. If the American consumer is maxed out, then they will have less to spend on “stuff” that truly a person can live without. Case in point. I used to buy a lot of books. I stopped that and now use my local library. I combine my shopping trips to get as much done with one drive rather than half a dozen. I cut the cable and get my tv over the air with HD quality. I don’t get ESPN, HBO etc, but miss none of it. Past time for Americans to deal with reality which is everything has a limit including their wealth.

  • Stuey

    When the illegals are deported we will see inflation in many areas that they have been working at slave labor wages. Labor cost will go up and the companies will pass that on to the customers. But that will mean higher wages for American workers. And the country will save money in other areas such as healthcare, social programs, prison and criminal cost.

    • socalbeachdude

      Illegal aliens are typically paid the minimum wages and do not work for lower wages than that and many are getting paid $10 per hour or more including day laborers.

      What we will see is the global deflationary spiral intensify.

      • Stuey

        And you think americans in CA will do this work for $10/hr?

        • socalbeachdude

          $10 per hour is an extremely generous amount to pay people.

          • Stuey

            $10/hr in CA, are you crazy??? That is about the stupidest thing i have ever seen you post on here.

  • L. A. McDonough

    Watch the sales online or in flyers, get the coupons, bogo’s for grocery stores and drug stores. I find vitamins cheaper at grocers. Folks, if you are child free and both of you work, keep it that way. Kids are super expensive and really are a luxury now days. Help ones already here, donate to group homes or foster.

  • Dave Mende

    US Military $1,000,000,000,000/year. There’s your defecit and your inflation. This to fight Russia; a White Christian country.
    With these friends we don’t need enemies.

    • socalbeachdude

      No. Military spending in the US is only 16% of the budget of around $4 trillion a year plus around 4% for Veterans expenses which is about 20% of the total budget. The big issue with federal spending is the 63% spent on SOCIAL WELFARE PROGRAMS such as Social Security and Medicare / Medicaid which consume almost TWO-THIRDS of the annual federal budget resulting last year in a deficit of $1.4 trillion.

      • Dave Mende

        Bull fritters. SocSec and Medicare are from Dedicated taxes, from beleaguered US workers thanks to State Dept trade policy. Some tax from private defense workers i.e. economic masturbaters.
        Base budget, Dept of Energy, Vet Benes, CIA, Israel and its hidden costs. (Dont forget 30 years of inflated oil prices thanks to WAR), NSA, war costs off budget- all told over a Trillion. And 90% is waste, fraud, and downright criminality.
        THAT is why we can’t have nice things.

        • socalbeachdude

          Benefits from the Social Security and Medicare / Medicaid programs are certainly NOT COVERED AT ALL BY “DEDICATED TAXES” but are coming from the GENERAL FUND OF THE US TREASURY and all of the proceeds paid into Social Security and Medicare Trust Funds have been SPENT THROUGH THE GENERAL FUND leaving in their wake a pile of IOUs called US TREASURIES as those funds are required by federal law to “invest” their funds in US Treasuries which are used to fund the general budget.

          Very little of government spending is in any way “waste” but there are widely divergent views on the APPROPRIATENESS of federal spending for particular categories.

          Federal government spending is VERY HUGE PROBLEM and the biggest issue with US government spending is that around 63% is being spent each year on SOCIAL WELFARE AND MEDICAL EXPENSES and that amount will continue to rise dramatically.

          There is very little in the way of federal spending that is “corruption” or “waste” and that is a totally bogus argument. Military spending including Veterans benefits amounts to only about 20% of total annual federal government spending.

          Only 20% of the US government annual spending is for total military spending with 16% for actual military spending and 4% for Veterans Benefits.

          The biggest part of the spending is SOCIAL PROGRAMS including the Social Security and Medicare insurance programs which are NOT ACTUARILY SOUND and which are paying out vastly more than they have taken in with payroll taxes.

          A summary of the fiscal 2015 US federal government expenditures totaling nearly $4 trillion is as follows:

          WELFARE & MEDICAL (63%)
          33% Social Security, Unemployment, Labor
          27% Medicare & Health
          ..3% Housing & Community

          MILITARY (20%)
          16% Military
          ..4% Veterans Benefits

          INTEREST ON DEBT (6%)
          ..6% Interest on Debt

          FOOD & TRANSPORTATION (6%)
          ..3% Food & Agriculture
          ..3% Transportation

          EDUCATION & SCIENCE (3%)
          ..2% Education
          ..1% Science

          ENERGY, ENVIRONMENT, & INTERNATIONAL (2%)
          ..1% International Affair
          ..1% Energy & Environment

          OTHER EXPENSES (1%)
          ..1% Government Expenses (general)

          The complete breakdown of Fiscal 2015 expenditures is extensively detailed including actual numbers as well as pie-charts with various percentage breakdowns as to discretionary and non-discretionary expenditures at:

          https://www.nationalpriorities.org/budget-basics/federal-budget-101/spending/

  • Big Red

    One thing I’ve noticed recently is an increase fee’s and surcharges being charged on a myriad of things.

    • socalbeachdude

      Such as?

  • Carl

    If what is negotiated between the hospital and insurance company is
    considered a fair and reasonable price then it should be the standard
    price for all NOT just for some.

    • socalbeachdude

      No.

  • walcon

    No- Boxed food or food in containers, fast food, fried foods, battered foods, cooked oils, high fructose sugars, wheat or flour foods, processed sugars, soda water, starch foods.
    Raw veggies- organic if possible are the best. No hormone chicken and red meats. Red meats cooked almost raw- none that is burned or black. Eat the fat of the steaks (just a little), Eggs are great- they have good cholesterol.
    I’m 63, use no meds and have great stats. I can outdo most young folks that run out of breath and energy before I do. I push mow 1/2 acre back yard instead of riding the lawn tractor.
    Keep physically busy!

    • socalbeachdude

      Absolutely false. You may like that kind of “organic” junk but it is not in any way better for you at all than other excellent foods such as fried chicken and shrimp, delicious bread made with real flour.

  • Padraigin Eagle

    Too true

    Willful ignoramuses abound, the lame lying stream media, Bloomberg’s by the shekel and pound.

    • socalbeachdude

      Bloomberg’s coverage of the financial news is excellent.

      • Padraigin Eagle

        Thank you for advising, socialbeachlube; I’ll surely Shirley remember when the Banksters bail-in my food stamps, Bloomberg sans Bloomberg will be my first port of jorl/jol/jawl, Durban and all. But then you had to be there.

  • GSOB

    Got milk?

  • muldoon55 .

    Friends, there is only one agency that can solve the economy and all it’s associated problems!
    The Kingdom of God in the hands of a just loving leader Jesus Christ!
    God’s own word clearly prophesies that this current ailing human system of things’ collapse is on an irreversible trajectory to destruction.
    This is God’s will, His plan . Mankind has been allotted a designated amount of time to see if they can bring about the kind of conditions we all crave namely peace, prosperity for all,a genuine brotherhood of man, and robust health and happiness for all.
    No government has ever been able to do this rather the opposite has been true, and to quote former president Ronald Reagan “government is the problem”
    King Solomon’s reign was undoubtedly the closest thing to the best ever government, because he sat on Jehovah’s throne and ruled according to God’s laws and regulations.
    Soon Christ Jesus will be installed on His glorious throne and the invisible menace satan the devil with all his demonic armies will be cast out of heaven and hurled to the earth which will begin the greatest woe for mankind since earths founding. Note how this is described in the Bible at Revelation 12:12 “Therefore rejoice, you heavens and you who dwell in
    them! But woe to the earth and the sea, because the devil has gone down
    to you! He is filled with fury, because he knows that his time is
    short.”
    Soon all mankind will be faced with the choice of whom they support as Sovereign of the universe:Jehovah God our Creator or satan and his flawed inept human system of rule.
    Make no mistake, the outcome of the final battle will be decisive and absolute. Note how this is played out at Revelation19:19-21 Then I saw the beast and the kings of the earth and
    their armies gathered together to wage war against the rider on the
    horse and his army.20 But the beast was captured, and with it the false
    prophet who had performed the signs on its behalf. With these signs he
    had deluded those who had received the mark of the beast and worshiped
    its image. The two of them were thrown alive into the fiery lake of
    burning sulfur.21The
    rest were killed with the sword coming out of the mouth of the rider on
    the horse, and all the birds gorged themselves on their flesh.
    When the windstorm of God’s anger has accomplished it’s purpose of cleansing the earth of all opposers to God’s rightful rule, then His original purpose for the earth and for right hearted ones can proceed.
    Finally a world without war and strife. An earth that will yield it’s produce beyond our wildest imagination. An eternity to cultivate talents, to explore every corner of this earth and perhaps eventually go to the ends of the universe. And to live in a true brotherhood of man.
    The invitation goes out from God to all who hunger for righteousness
    at Zephaniah 2:2-3 1Gather together, gather yourselves together, you shameful nation,2before
    the decree takes effect and that day passes like windblown chaff,
    before the LORD’s fierce anger comes upon you, before the day of the
    LORD’s wrath comes upon you.3Seek
    the LORD, all you humble of the land, you who do what he commands. Seek
    righteousness, seek humility; perhaps you will be sheltered on the day
    of the LORD’s anger.

    • GSOB

      The Biblical prophecies that Christ would reign as King were fulfilled in Christ’s enthronement at His ascension.

      Jesus Christ definitively defeated and bound Satan and the demons in His atonement, resurrection and ascension.

      • muldoon55 .

        Let me see
        Christ ascended to heaven in 33 C.E where you claim he took His throne whereas John wrote the revelation in AD 96 some 63 years afterwards where John prophesies about Jesus taking Kingdom power Rev 12:10 This scripture describes Jesus receiving authority and Kingdom power.
        As you may know revelation prophesies future not past events
        And yes I agree with you and what Jesus says at Matt 28:18 about all authority in heaven and earth being given to him however I’m speaking of the time when he is actually installed as King of God’s Kingdom and brings an end to all human government and stands as the ONLY ruling element in the universe

        • GSOB

          Timing is everything. AD 96 is not the correct time.
          Your ‘proof’ for AD 96 is unsupported by Scripture, but supported by theory.

          Your agreement on Matt 28:18 is your best standing to forge ahead in truth this day forward, because He is on the throne now and when He physically returns, it’s over.

          Satan works deception. Christ is reality.

          • muldoon55 .

            God bless you
            you obviously love God very much

          • GSOB

            Revelation 12:10-11

            Then I heard a great voice in Heaven cry: “Now the salvation and the power and kingdom of our God, and the authority of his Christ have come!

            For the accuser of our brethren has been thrown down from this place, where he stood before our God accusing them day and night.

            Now they have conquered him through the blood of the Lamb, and through the Word to which they bore witness.

            They did not cherish life even in the face of death!

            (Fulfilled)

  • Afi Keita James

    it started way before Reagan came, I personally blame LBJ and Nixon for all this.

    • socalbeachdude

      The mess actually started with FDR in the 1930s.

  • Richard Hennessy

    The length of time the Federal Reserve has depressed interest rates to prop up the Obama agenda is outright theft from the middle class.

    • socalbeachdude

      False. The Federal Reserve only sets 3 interest rates and they do not matter a hoot in the US economy. All interest rates that matters are SET IN THE US TREASURY MARKETS and the Federal Reserve simply follows the rates set on 3 month US Treasuries for the only 3 interest rates they do set.

      • Richard Hennessy

        If the Federal Reserve doesn’t determine interest rates, why does the chairman spend so much time discussing whether it will raise interest rates?

        • socalbeachdude

          The Chairman of the Federal Reserve doesn’t spend much time at all discussing interest rates and to the extent the FOMC does at it is just “bully pulpiting” about the extremely obvious.

          The Federal Reserve only sets 3 interest rates and none of them have anything to do with the US economy where all interest rates are keyed off the yields (interest rates) on US Treasuries. The Federal Reserve is NOT setting interest rates “appropriate for the US economy” but is merely changing OVERNIGHT BANK LOAN RATES which are practically NEVER UTILIZED as the banks are awash in vast excess trillions of dollars and have no need to borrow from each other. The only other rate set by the Federal Reserve is IOER which is Interest On Excess Reserves held by banks inside the Federal Reserve where the banks currently have nearly $2.6 trillion in their excess reserves accounts.

          IT DOESN’T MATTER A HOOT WHAT THE FEDERAL RESERVE DOES WITH ANY OF THE THREE INTEREST RATES THEY SET as all interest rates that matter in the US economy are SET IN THE US TREASURIES MARKETS.

          The BOND MARKETS SET INTEREST RATES IN THE US ECONOMY AND NOT THE FEDERAL RESERVE. The yields (interest rates) in the bond markets have been SOARING EVER SINCE JULY and that is where all interest rates that affect the US economy are keyed off, and NOT the only 3 interest rates set by the Federal Reserve which simply do not matter a hoot in the US economy.

          The only 3 rates that the Federal Reserve is involved with setting are:

          1) Federal Discount Rate – currently 1.25%

          2) Federal Funds Rate (which it influences) – currently in the range of 0.50% to 0.75%

          3) Federal Reserve IOER (Interest On Excess Reserves) – currently 0.75%

          The IOER (Interest On Excess Reserves) interest rate does have an immediate beneficial impact for banks as it is the interest paid to banks on their excess reserves accounts inside the Federal Reserve and those accounts now have more than $2.5+ trillion sitting in them.

          The ONLY applicability of the Federal Funds Rate is INTERBANK BORROWING to clear nightly transaction balances which is now practically NEVER UTILIZED as the banks are awash in trillions of dollars of EXCESS RESERVES and have no need to borrow from each other.

          As to interest rates on savings accounts, BANKS ARE AWASH WITH EXCESS CUSTOMER DEPOSITS AT A TIME WHEN DEMAND FOR BORROWING IS VERY LOW which is why interest on savings rates is so low and that is not likely to change much.

          The only 3 interest rates set by the Federal Reserve have NOTHING WHATSOEVER TO DO WITH THE INTEREST RATES ON THE US GOVERNMENT DEBT as those yields (interest rates) are all set in the $12.8 trillion a year US Treasuries market and have nothing to do with the Federal Reserve.

  • james ha

    “””….mostly reflecting a rebound in the cost of gasoline that’s taking a bigger chunk out of household incomes.”””

    so even though the price of oil has plummeted, the price of gasoline is rising. welcome to the new american century.

    • socalbeachdude

      Gasoline today is about 50% of the cost it was during the Summer of 2008.

      • james ha

        and yet the article states that “”the cost of gasoline is taking a bigger chunk out of household incomes””

        • socalbeachdude

          What the article states is not incorrect as oil is now around $54 per barrel and the short term trend is higher on oil, but there is a MASSIVE GLOBAL GLUT OF OIL and the price is likely to head back down to around $20 per barrel and oil has been plunging in price since it hit a high of $114 per barrel in June 2014. The bottom line is that gasoline remains about HALF OF WHAT IT WAS IN THE SUMMER OF 2008 so people’s gasoline bills have GONE DOWN AROUND 50% since then.

  • GSOB

    Rome was the moral sewer of the world.

    • socalbeachdude

      How so?

  • davegrille

    The economy is in bad shape.

  • catalanismo is hatred

    Trump is going to destroy even more our family economy, he is a ignornant, incompetent, he is already destroying America

    • socalbeachdude

      Laughably false and totally bogus assertions.

  • Muhammad Abbass

    Energy. One of the biggest drains on the average economy is energy. The price for fuel, gas and electricity have risen by very significant percentages in the last ten years, more than double in all cases where I live in Perth, Western Australia. The high energy costs are one of the biggest factors in raising prices of consumer goods too.

  • John

    How can anything but inflation take place with our present Federal Reserve policies? Banks make loans of a principle, but are expected to be paid back principle PLUS interest. No one ever created the INTEREST! When we had a commodity backed currency of gold and silver, interest was CREATED by the production of new gold and silver, turned into coins. Thus we continued to have money backed legitimately. The roaring 1920’s produced so much economic activity, that new precious metal could not be mined fast enough to back up the currency required by the banks for interest payments. Thus, a CRASH in 1929, where the faith was gone and people wanted their precious metal money that was saved in banks. Many couldn’t be paid! The Fed policy of loaning money to the government to spend thru handouts to the “poor” or “prosperous” only creates the IMAGE that people are “acquiring” new money to pay interest on their loans. However, since the government is now responsible for paying interest on the national debt, the general populace is responsible for paying more taxes of all kinds. This is the reason that interest rates are now so low, to keep the total national debt interest at a point that is near being manageable. Nevertheless, peoples savings aren’t earning anything, and the less fortunate can’t build any savings for retirement, etc. Government will have to CREATE money without borrowing from the bankers, and spent into circulation in a manner that doesn’t affect the free market system. Health care, as any example, may be one such method. No one in perfect health wants a free heart transplant, while their original is working perfectly. We need more examples of government spending that won’t affect inflation severely, while helping people to earn and save for their future. When banks charged 8% on a loan, and gave depositors 5%, it left the banks with 3%. Now that interest rates are lower to 4% for loans, depositors are getting 1%. Banks are still getting their 3%!

    • socalbeachdude

      I’d suggest you learn about the MONEY MULTIPLIER EFFECT as money moves through an economy. Money is not a fixed thing that stays stuck at one level but increases as it moves through an economy with the key to those increases being VELOCITY.

      The so-called “gold standard” was just a very brief 60 year failed experiment from 1873 until 1933 at which time it was totally discard for any domestic use in the USA. The US economy has moved vastly beyond the value of a tiny little niche commodity such as gold for which the total value of all of the gold ever produced in the world is less than $7 trillion and we now live in a $72 trillion a year global economy with the US being an $18 trillion a year economy. Moreover, 70% of all gold ever mined is privately held in JEWELRY widely distributed around the 7+ billion people of the world.

      The US long used a “silver standard” until that was discarded around 1870 and briefly replaced with the so-called “gold standard” which was totally discarded domestically in the US in 1933 as an entirely failed experiment. No currency can be limited to the production of some irrelevant “thingy” commodity such as gold or anything else when the population of that currency’s country is vastly expanding as was the case of the US by the 1930s.

      Artificially constraining the growth of money supplies while the population is growing substantially CAUSES DEPRESSIONS and causes countries to fail economically.

      The US dollar is the GLOBAL CURRENCY that is used in more than 83% of all global transactions and is held as 63% of currency reserves throughout the world and that will continue to be the case for the foreseeable future.

      • John

        It sounds to me as though the banking community did an excellent job of providing you with an education. I would like you to explain what article 1 section 8 of the constitution was saying when the term “only gold and silver coin is lawful money” was made. A little bit of something called a “commodity based money” was involved. I think that was in 1789. Also, I have a $10 Federal Reserve Note issued in 1950 in my hand that states; “This note is legal tender for all debts, public and private, and is redeemable in LAWFUL MONEY at the United States Treasury or any Federal Reserve Bank”. What were they referring to as LAWFUL MONEY in 1950? Or was this just some kind of phony value statement to force ignorant politicians to accept their fraud.?Since the earth is finite with any commodity base, I would think that human labor is going to be the only endless “commodity” that can be produced to exponential values. And that human labor should in no way be measured by a banking system that only produces compounded debt to satisfy their own personal greed. It’s a pity that people are trained to despise capitalism as being greedy corporations. Most corporations are producing goods and services for mankind to prosper, all except the money changers!

        • socalbeachdude

          Gold has nothing whatsoever to do with money at all and the only relationship of that fungible little niche collectible commodity is that it costs far too much money but that is rapidly changing as its price continues its plunge from its record high nearly 6 years ago in 2011.

          Article I Section 8 of the US Constitution SAYS NOTHING WHATSOEVER ABOUT ANY METALS IN REGARDS TO MONEY contrary to your bogus assertions.

          Nowhere in the US Constitution including its amendments is anything stated whatsoever regarding the form of money and currency of the federal government of the USA.

          The only reference in the US Constitution at all to metals is in Article 1 Section 10 of the US Constitution which ONLY APPLIES TO STATES regarding the creating and form of currencies and has NOTHING WHATSOEVER TO DO WITH THE FEDERAL GOVERNMENT ITSELF.

          What you fail to understand is that in the United States the ONLY LEGAL TENDER FORM OF CURRENCY IS US DOLLARS and that gold and silver are NOT ACCEPTED AS ANY FORM OF CURRENCY AT ALL FOR A FLOATING COMMODITIES VALUE.

          The only extent to which gold and silver coins may be used in the US is with legal tender US Mint coins for their STATED NOMINAL FACE VALUES which in the case of a 1 oz. silver American Eagle is $1.00 and in the case of a 1 oz. gold American Eagle is $50.00.

        • socalbeachdude

          The most important industry in the United States – by far and without which nearly all of the other industries would not exist – is the financial industry.

    • socalbeachdude

      The US government cannot and does not create money at all and the only party that can and does do that in the United States is the group of 12 Federal Reserve banks in the Federal Reserve System.

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