"everything is going up"

[EmpirE231]

Does anyone else get annoyed hearing this phrase? Seems to be that everyone in every industry has adopted that line..."everything is going up".

example:
-I ordered a self retracting hose reel from amazon sept of last year for $90. I liked it and wanted to get another one... checked it today and it is $160.
-city of riverside has a program where they will trim city trees on your property for $90 (instead of waiting for them to do it every 6 years), all the sudden it is $198. I called and asked if they made a mistake, and the city employee lady working form home kindly told me "well everything is going up" lol...

everyone says that inflation isn't happening, but I believe it's already been here... Pretty much everything (minus LED TV'S) has gone up in price in the last few years.

 

[AFTERSHOCK RACING+]

 

[HALLETT BOY]

Oh , it’s gonna get better ...tighten your seatbelt !

 

[Christopher Lucero]

Does anyone else get annoyed hearing this phrase? Seems to be that everyone in every industry has adopted that line..."everything is going up". What's funny, is I'm in the insurance industry and clients absolutely HATE hearing an explanation like that. actually a lot of clients even call upset that their rate has not gone down lol. Granted there are some serious reasons why insurance rates are rising (ex. CA burns every year at a massive level, people staring at their phones crashing into the car IN front of them @ 40MPH vs 10MPH etc)

example:
-I ordered a self retracting hose reel from amazon sept of last year for $90. I liked it and wanted to get another one... checked it today and it is $160.
-city of riverside has a program where they will trim city trees on your property for $90 (instead of waiting for them to do it every 6 years), all the sudden it is $198. I called and asked if they made a mistake, and the city employee lady working form home kindly told me "well everything is going up" lol...

everyone says that inflation isn't happening, but I believe it's already been here... Pretty much everything (minus LED TV'S) has gone up in price in the last few years.

WELL...I monitor my insurance rate raises each year, and I adjust my deductibles to align with my risk appetite. When I was younger, a $5k deductible was big. No so anymore.

but, yeah. we cant give them a free pass just because 'everything's going up'...you gotta take care of bizniz

 

[lbhsbz]

Everything but my paycheck

I was talking to my racking/shelving supplier the other day and he was pricing out some stuff for me. There is the price, then there was a $0.49 surcharge per lb on steel (today...the surcharge may change tomorrow). That surcharge raised the price enough to where I'm money ahead taking the time to cut/weld back together all the wrong length stuff I've got into the correct length for what I need.

 

[just_floatin]

 

[Cole Canadian]

For years grocery stores have been lowering the size and quantities of items to make it look like you are still getting value for your purchasing dollars.
Now stores don't try to hide it .... the new term is "that's just the way it is". If you don't like it don't buy it.
Wish my wages had gone up at the same rate as the cost of living has increased.

 

[Chili Palmer]

I haven’t bought any large containers of ice cream for a few years. Last week I noticed that the containers looked kind of small. Now they are no longer ½ gallons, they are 1-½ quarts. The price is just as high, but less contents.

 

[2Driver]

No inflation
No border crisis
Stim bill is directly aimed at those that need it most
I'll stop this partisan divide
There was no plan for a vaccine rollout until Jan 20.

What else do you want to know?

 

[cold_one]

I have only noticed it has gone up drastically in the last 12 months.

 

[HTMike]

The cost of everything is going up and people are spending like crazy. Usually in times of inflation, spending slows way down. Are people over levering themselves with HELOC's again ?? I pray people aren't that stupid.

 

[EmpirE231]

The cost of everything is going up and people are spending like crazy. Usually in times of inflation, spending slows way down. Are people over levering themselves with HELOC's again ?? I pray people aren't that stupid.

there was some data recently that showed cash out refi's are at an all time high vs the last crash

also, tons of people just had helicopter money land in their bank acct. Some of these people getting those deposits never had a few grand in their acct at any one given time.... if you have a few kids, you were getting 6-10K deposits.

 

[gqchris]

there was some data recently that showed cash out refi's are at an all time high vs the last crash

also, tons of people just had helicopter money land in their bank acct. Some of these people getting those deposits never had a few grand in their acct at any one given time.... if you have a few kids, you were getting 6-10K deposits.

I was thinking this the other day. Those people probably partied like it was their last day on earth!

10-15k doesnt make even a tiny dent in my program! But majority of hood rats would think they hit MegaMillions!

 

[Christopher Lucero]

The cost of everything is going up and people are spending like crazy. Usually in times of inflation, spending slows way down. Are people over levering themselves with HELOC's again ?? I pray people aren't that stupid.

there is money to be made in stupid

 

[Christopher Lucero]

there was some data recently that showed cash out refi's are at an all time high vs the last crash

also, tons of people just had helicopter money land in their bank acct. Some of these people getting those deposits never had a few grand in their acct at any one given time.... if you have a few kids, you were getting 6-10K deposits.

according to this post, Adopted families are being asked to take in up to 26 foster kids from the southern surge. at around $7k per kid, that could be quite appealing to very well intentioned people, but sounds horrid in a practical sense. Can you imagine 26 unrelated kids living together? The politics? The sex and drugs and adolescent antics?

 

[LargeOrangeFont]

I haven’t bought any large containers of ice cream for a few years. Last week I noticed that the containers looked kind of small. Now they are no longer ½ gallons, they are 1-½ quarts. The price is just as high, but less contents.

That happened in 2009.

 

[just_floatin]

Did you say 7k per kid? Two kids at 14k per month is worth entertaining. Que No

 

[Christopher Lucero]

Did you say 7k per kid? Two kids at 14k per month is worth entertaining. Que No

$7k per year, (sorry): tax deduction and child tax credits

 

[Javajoe]

Damn, guess I’ll cancel the cages I just ordered

 

[Done-it-again]

there was some data recently that showed cash out refi's are at an all time high vs the last crash

also, tons of people just had helicopter money land in their bank acct. Some of these people getting those deposits never had a few grand in their acct at any one given time.... if you have a few kids, you were getting 6-10K deposits.

Most of this could be people getting in lower rates and paying off a 2nd or high CC. 30yr rates are still very low, now I'm sure people are buying toys, but as long as that person doesn't lose a job then he should be able to make that payment.

Who's getting 6-10k with a few kids? Isn't it $1400 per? You need 4 kids to get the 6k, that's more like a litter

 

[EmpirE231]

Most of this could be people getting in lower rates and paying off a 2nd or high CC. 30yr rates are still very low, now I'm sure people are buying toys, but as long as that person doesn't lose a job then he should be able to make that payment.

Who's getting 6-10k with a few kids? Isn't it $1400 per? You need 4 kids to get the 6k, that's more like a litter

2 parents w/ 2 kids = 1400 x4 = $5,600

2 parents w/ 4 kids = 1400 x6 = $8,400

That is some serious scratch at one time for people who can never maintain a positive check book balance

 

[boatnam2]

I could barley go fishing the other day dodging cruise ships, container ships, crude ships, if the old rule supply and demand hold true, why are we waiting on supplys when there is a demand?

 

[WhatExit?]

Perhaps you've noticed...

 

[DRYHEAT]

This would all stop if you people would just quit buying shit!

 

[LargeOrangeFont]

Most of this could be people getting in lower rates and paying off a 2nd or high CC. 30yr rates are still very low, now I'm sure people are buying toys, but as long as that person doesn't lose a job then he should be able to make that payment.

Who's getting 6-10k with a few kids? Isn't it $1400 per? You need 4 kids to get the 6k, that's more like a litter

Let’s call in an expert in child making.

@OldSchoolBoats

 

[evantwheeler]

The cost of everything is going up and people are spending like crazy. Usually in times of inflation, spending slows way down. Are people over levering themselves with HELOC's again ?? I pray people aren't that stupid.

I signed refinance papers last week. I asked the notary how busy she was, and she said busiest she has ever been. I asked if lots of people were doing cash outs, and she said probably 1 in 20 or less as a guess. She said everyone is just tying to take advantage of the low interest rates. This was in So Cal

 

[OldSchoolBoats]

Let’s call in an expert in child making.

@OldSchoolBoats

Didnt qualify for any stimulus, but if we did would have got $9800

Sent from my SM-N960U using Tapatalk

 

[EmpirE231]

Cash-Out Refinancings Hit Highest Level Since Financial Crisis

Home prices have soared during the coronavirus pandemic, prompting more borrowers to pocket cash from refis.

www.wsj.com

 

[Jed-O]

Price of lumber almost tripped in three months. Clients telling me that I'm out of my mind charging so much. A week later, they say go ahead and with the project. Everyone else is outrageous as well... Funny, I'm not making any more money...

 

[LargeOrangeFont]

Cash-Out Refinancings Hit Highest Level Since Financial Crisis

Home prices have soared during the coronavirus pandemic, prompting more borrowers to pocket cash from refis.

www.wsj.com

We have low mortgage rates now and high values. This is to be expected.

People are not taking 100% out of the houses that they put 0% down on.

 

[brgrcru]

The cost of everything is going up and people are spending like crazy. Usually in times of inflation, spending slows way down. Are people over levering themselves with HELOC's again ?? I pray people aren't that stupid.

They are !

 

[hallett21]

Wouldn’t you be incentivized to spend more during inflation? Since your currency is losing value every day it stays paper?


Sent from my iPhone using Tapatalk

 

[brgrcru]

I'm just glad all my shit is running and the house Is done .

 

[Carrera205]

For years grocery stores have been lowering the size and quantities of items to make it look like you are still getting value for your purchasing dollars.
Now stores don't try to hide it .... the new term is "that's just the way it is". If you don't like it don't buy it.
Wish my wages had gone up at the same rate as the cost of living has increased.

Just open a bag of chips and that tells you how much shit has changed and how much less you get.

 

[CLdrinker]

Did you say 7k per kid? Two kids at 14k per month is worth entertaining. Que No

No shit and they are Mexican so they already know how to do yard work and clean the house. I can put a couple beds in the shed
Sign me up.

 

[1tonfun]

I see a lot more people refinancing their homes for the lower rate but little to no cash out. They are taking cash out of their 401k or retirement to fund the toys. They could pull $100k last year, spread the tax hit over three years and no 10% early withdraw penalty all in the name of Covid

 

[Happy Smitty]

The stimulus money went somewhere...

Overseas when spent on items produced in other contries... stimulates other countries, not us.

Stock market... it's been soaring

Boats, RVs and toys... those prices have been soaring.

It has begun to come out of the stock market and toys and into the CPI and we'll see how "prices are going up" on goods.

Good time to own real-estate. Get out of cash.

 

[just_floatin]

I see a lot more people refinancing their homes for the lower rate but little to no cash out. They are taking cash out of their 401k or retirement to fund the toys. They could pull $100k last year, spread the tax hit over three years and no 10% early withdraw penalty all in the name of Covid

Bingo. Best deal ever if you qualified and have a nice goose egg saved to cash out without impact to your retirement fund. Especially nice if you have multiple losses to write off. Three years to pay Uncle Sam back on a 100k withdrawal without a 10% early withdrawal penalty. The Cares Act of 2020

 

[Your ad here]

Restaurants and fast food has gotten expensive and terrible at the same time. Quantity and service. I've just stopped going because I'm cheap and I'm tired sitting at a table 2 hours for just 2 people.

 

[monkeyswrench]

Well, unlike some here, I do qualify for the stimulus. Do I need it, no. Could I use it, probably so. I've been looking at the price of materials, they've shot way up. Not just lumber, but steel and aluminum as well.

The value of our dollar has weakened considerably. All this "free" money is already making a dent. Whereas when our dollar is strong, we can buy foreign goods at a discount of sorts, now our dollar buys 90-95cents of a competitor's dollar. Ad pointed out above, it'll get worse before it gets better.

 

[boatpi]

Importing from anywhere to West Coast. Last Summer our container costs for a 40' were around $3,500. December $7,000, March $8,000. It gets better, we had to pay a 2K bounty just to get two containers loaded after sitting on a dock for 2 weeks, with no end in sight. We DO NOT import from, ANY commi nation, but China shipping lines control the sea, and they will pay extra $$ basically stealing containers from others.

 

[Nanu/Nanu]

I thought this was a picture thread.

Posted for a friend.

 

[Christopher Lucero]

Bingo. Best deal ever if you qualified and have a nice goose egg saved to cash out without impact to your retirement fund. Especially nice if you have multiple losses to write off. Three years to pay Uncle Sam back on a 100k withdrawal without a 10% early withdrawal penalty. The Cares Act of 2020

NOT ONLY THAT...if you have a 2020 positive test, you can also stretch out your tax payments for 2020 over three years. FYI

 

[Christopher Lucero]

The value of our dollar has weakened considerably. All this "free" money is already making a dent. Whereas when our dollar is strong, we can buy foreign goods at a discount of sorts, now our dollar buys 90-95cents of a competitor's dollar. Ad pointed out above, it'll get worse before it gets better.

That does have an interesting effect, though. If we really want to encourage domestic production and consumption (i.e., "buy American') then making imports expensive is a way to achieve it. Unlike a tariff, this does not route the cost to the government...it instead rewards American innovators that provide the new product or service to compete with/replace the expensive import.

 

[just_floatin]

NOT ONLY THAT...if you have a 2020 positive test, you can also stretch out your tax payments for 2020 over three years. FYI

All legit IF you qualified in 2020

Coronavirus-related relief for retirement plans and IRAs questions and answers | Internal Revenue Service

Section 2202 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, provides for special distribution options and rollover rules for retirement plans and IRAs and expands permissible loans from certain retirement plans.

www.irs.gov

 

[monkeyswrench]

That does have an interesting effect, though. If we really want to encourage domestic production and consumption (i.e., "buy American') then making imports expensive is a way to achieve it. Unlike a tariff, this does not route the cost to the government...it instead rewards American innovators that provide the new product or service to compete with/replace the expensive import.

Unfortunately, trying to explain that to a consumer is impossible. It's a constant battle already, and it will continue.

 

[Christopher Lucero]

All legit IF you qualified in 2020

Coronavirus-related relief for retirement plans and IRAs questions and answers | Internal Revenue Service

Section 2202 of the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), enacted on March 27, 2020, provides for special distribution options and rollover rules for retirement plans and IRAs and expands permissible loans from certain retirement plans.

www.irs.gov

yet, I do consider myself lucky for not being able to qualify...go figure.

 

[Christopher Lucero]

Unfortunately, trying to explain that to a consumer is impossible. It's a constant battle already, and it will continue.

The efficiency of the market should guide even the most inane consumer, if they are of the 'homo economicus' typology.
However, 'homo economicus' has been shown to be quite a fiction. so there is that to fortify your view.
then there are the Veblen goods that indulge ego, or pride, or other emotive satisfactions. People spend according to their hearts and their beliefs much more than we ever had imagined, and THAT is getting worse (better?).

 

[Tom Slick]

Welp, I proudly manufacture my products in the USA, but that makes little difference these days. Material costs have gone through the roof and my 3rd party fabrication shops can’t keep up with the demand. So my already expensive American Made compared to Asian knockoffs will have to become more expensive. My shelves are empty because my suppliers are back logged. Stimulus money will be burned through quickly, gas prices rising rapidly and inflation is in fast motion. This is the perfect recipe to destroy the economy. Sadly this is just the tip of the iceberg. Buckle up fellas.

 

[monkeyswrench]

The efficiency of the market should guide even the most inane consumer, if they are of the 'homo economicus' typology.
However, 'homo economicus' has been shown to be quite a fiction. so there is that to fortify your view.
then there are the Veblen goods that indulge ego, or pride, or other emotive satisfactions. People spend according to their hearts and their beliefs much more than we ever had imagined, and THAT is getting worse (better?).

I think as a society, there is definitely a push to spend for pride and ego, to try and one up. Not all people, but surely a certain faction.
Just this week, I had a young guy, father of two, 29yo, show up with his new to him Infinity SUV. His first stimulus was the down payment. His second stimulus was brakes, tires, struts and some other needed items. Well, guess what? The motor is direct injected, and ate the fuel pump bucket. Only a 35$ part. The drawback, all the metal from the bucket has now washed through the oil. That motor is not long for this world. Add to that, it also needs cats. Factory cats are 1200$ per side, and the o2 sensors tend to sieze in them...those are an additional 300$
The cats are an 8hr job as well...
Since this guy made fun of my paid for, "POS"(Prius On Site), I can tell you this,
"Everything is going up."