Has Inflation Peaked?

[marvin martian]

Oil is already below $100.

If Biden can get Iran to rejoin the JCPOA, we will be awash in oil. Biden is also working on getting Saudi Arabia to open the tap.

Russia will do all it can to sabotage both efforts.

All your party is focusing on is the J6 Reality Show for Idiots. They don't give two shits about the inflation they caused, or the suffering of poor people it led to.

 

[marvin martian]

 

[Mac1958]

Commodity prices are plunging.

Oil is back below $100.

Corn, wheat, and most other food inputs have been dropping for weeks.

Bonds are bouncing back.

Crude Oil - Price - Chart - Historical Data - News

Crude Oil increased 9.50 USD/BBL or 13.26% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Crude Oil - values, historical data, forecasts and news - updated on June of 2024.

tradingeconomics.com

Corn - Price - Chart - Historical Data - News

Corn decreased 40.65 USd/BU or 8.63% since the beginning of 2024, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Corn - values, historical data, forecasts and news - updated on June of 2024.

tradingeconomics.com

US 10 year Treasury Bond, chart, prices - FT.com

US 10 year Treasury, interest rates, bond rates, bond rate

markets.ft.com

US 10 year Treasury Bond, chart, prices - FT.com

US 10 year Treasury, interest rates, bond rates, bond rate

markets.ft.com

Yeah, the bond market clearly seems to think so.

With the inflation numbers over the last couple of days, you'd think bond prices would be crushed, but as I type this, they're flat.

We'll see.

 

[Dont Taz Me Bro]

All your party is focusing on is the J6 Reality Show for Idiots.

What's his party?

 

[Fort Fun Indiana]

Yeah, the bond market clearly seems to think so.

With the inflation numbers over the last couple of days, you'd think bond prices would be crushed, but as I type this, they're flat.

We'll see.

The Fed is hinting at a 100-point hike soon...

 

[marvin martian]

The Fed is hinting at a 100-point hike soon...

Wow, mortgages at 8 or 9% should be great for working people who want to buy their first home. Go with that.

 

[Mac1958]

The Fed is hinting at a 100-point hike soon...

And I think the market is now beginning to look down the road a bit, at the effects of a 75bps or 100bps increase.

There are some signs of economic weakness already, so bonds are looking pretty tasty for some.

 

[georgephillip]

Rich Capitalists Cause Inflation:

"As Barrons reported last month in an article titled Exxon May Be Making 'More Than God':

"'Exxon Mobil (Ticker: XOM) is expected to generate about $41 billion of net income in 2022, up from $23 billion last year.'

"Similarly, Tom Perkins reports for The Guardian:

"'The analysis of Securities and Exchange Commission filings for 100 US corporations found net profits up by a median of 49%, and in one case by as much as 111,000%.'

"'Those increases came as companies saddled customers with higher prices and all but ten executed massive stock buyback programs or bumped dividends to enrich investors. …'

"'The Guardian's findings are in line with recent US commerce department data that shows corporate profits rose 35% during the last year and are at their highest level since 1950.'

"The Guardian's analysis found:

"'Chevron's 240% profit spike was part of 'the best two quarters the company has ever seen'… Steel Dynamics profits increased 809% … Fertilizer giant Nutrien's profits shot up by...'"

Opinion | Behold: The Big Business Plot to Overthrow Democratic Rule

 

[Toddsterpatriot]

Rich Capitalists Cause Inflation:

"As Barrons reported last month in an article titled Exxon May Be Making 'More Than God':


"Similarly, Tom Perkins reports for The Guardian:




Opinion | Behold: The Big Business Plot to Overthrow Democratic Rule

Don't you wish you owned some stock instead of just whining about it?

 

[Harpy Eagle]

Inflation won't start coming down until the Fed raises interest rates a few more percent.

Maybe in 2023 inflation will start coming down, maybe. The Fed will raise rates this month and then hope for the September meeting inflation peaks. It probably won't peak until late this year after the Fed raises interest rates to about 5%. The scary part is if high inflation becomes "entrenched"....

So, inflation was at 9.1% last month, you are saying it will be higher than that for every month till next year?

 

[georgephillip]

Don't you wish you owned some stock instead of just whining about it?

Why would I want to be a greedy pig?

"'[T]he monopoly which our manufacturers have obtained against us … like an overgrown standing army, has become formidable to the government, and upon many occasions intimidate the legislature.'
— Adam Smith, The Wealth of Nations, 1776"

The Big Business Plot to Overthrow Democrats Revealed?

 

[Toddsterpatriot]

Why would I want to be a greedy pig?

"'[T]he monopoly which our manufacturers have obtained against us … like an overgrown standing army, has become formidable to the government, and upon many occasions intimidate the legislature.'
— Adam Smith, The Wealth of Nations, 1776"

The Big Business Plot to Overthrow Democrats Revealed?

Having some of your own money, instead of being a poor whiner, sounds like an awful idea!

 

[sealybobo]

Inflation won't start coming down until the Fed raises interest rates a few more percent.

Maybe in 2023 inflation will start coming down, maybe. The Fed will raise rates this month and then hope for the September meeting inflation peaks. It probably won't peak until late this year after the Fed raises interest rates to about 5%. The scary part is if high inflation becomes "entrenched"....

Federal Reserve Prepares More Big Rate Hikes Amid Risk That High Inflation Could ‘Become Entrenched’

Fed officials could raise rates by 50 or 75 basis points later this month.

www.forbes.com

Federal Reserve Prepares More Big Rate Hikes Amid Risk That High Inflation Could ‘Become Entrenched’​

I don't pay rent so inflation hasn't hit me as hard as others.

And I already own my home so raising interest rates won't hurt me either. I heard that if you purchased a home today, you'll pay around $600 more a month for 30 years than you would have last year.

I'm thinking about my friends who said they were waiting for another housing crash so they could buy a home cheaper than the high prices we see now. NOW they are going to have to pay $600 more a month for the same house. They should have bought while interest was lower, right?

I also work from home and when I do have to go in, I'm 7 minutes from work. So high gas prices hasn't hurt me as much.

Not to mention I have no kids. If I had a kid in the home and I was paying for all their shit, I'm sure i'd be feeling inflation more too. Now I just cry when I see how expensive chicken is.

I noticed my fav dessert went up from $4 to $5.50. I said fuck that and didn't buy them. I don't think anyone did because the price went back down to $4. The reason inflation keeps going up is because we continue to buy. Did high gas prices get us to stay home this 4th of july? Nope. Yet all of you are broke. Or not saving enough for retirement. Go figure.

 

[Harpy Eagle]

And I already own my home so raising interest rates won't hurt me either. I heard that if you purchased a home today, you'll pay around $600 more a month for 30 years than you would have last year.

If you are buying a half a million dollar home.

 

[marvin martian]

If you are buying a half a million dollar home.

Which is the norm in blue cities. Gotta keep those brown folks out, you know!

 

[sealybobo]

If you are buying a half a million dollar home.

I'm looking. I don't know if they were half million dollar homes.

I found this though

With this rate hike, consumers with credit card debt will spend an additional $4.8 billion on interest this year alone

 

[sealybobo]

A small business owner taking on debt for a $200,000 piece of equipment, for example, will pay a little extra a month — more or less depending on the loan amortization period

Pending home sales fell 20% in June versus a year earlier as mortgage rates soared

The decline in sales coincided with mortgage rates soaring to over 6% last month.

www.cnbc.com

 

[sealybobo]

If you are buying a half a million dollar home.

I can't find where it says if you purchase a home for x amount right now, it will cost you x more a month. Was it half million dollar home?

Here's what I know. If you could have purchased a home for $200K at 3% interest, that's a hell of a lot better than 6%.

But I like this. It will fix inflation and tax buyers. The rich people who have money to spend will pay more to borrow. And people who pay cash and don't have debt will not be bothered. ME! LOL.

 

[Harpy Eagle]

ere's what I know. If you could have purchased a home for $200K at 3% interest, that's a hell of a lot better than 6%.

Of course it is better. 6% the payment would be $1199 and 3% it would be $843.

 

[sealybobo]

Of course it is better. 6% the payment would be $1199 and 3% it would be $843.

Yea but it's not $600 more a month like I thought. Still $356 every month!

I'm so glad everyone talked my lazy ass into refinancing from a 30 to a 15. I was paying on a 30 for about 4 years so ultimately I paid it off in 19 but boy did I save a lot not paying interest for an additional 11 years.

You would think I would be filthy rich. No mortgage, don't spend a lot really, $200 a month condo association dues, make $100K, no kids, no student loans. Not even a woman to have to afford. My new girlfriend lives in my condos. She has her own condo and job.

So you would think I'd have money coming out of my ears. For a year I was saving 30% of my paycheck. Plus 4% match. My 401K was rising fast, then Russia. I want to kill Putin! But that's besides the point. Anyways, saving 30%, my bank account stopped growing. Normally that's a good thing but I only have $15K in my checking and I want to buy my F150 next year. Cash. So I lowered my 401K to 10% of my pay and hope to see my checking account start growing again.

But my boss said I'm stupid. He said now is the time to be buying. I know he's right, but I want to pay cash next year for my least truck. I have about 1 year. I think my lease is up in August next year.

It's funny how you spend what you make. I try not to, but you do. And it's frustrating that you start saving more and you're doing good and then WHAMMO, VLad Putin fucks you in the ass hard. At least I'm not this dude