I just spent 200 bucks on food. Never did that b4.

@flinch622

Ай бұрын

The bilge pumped out by BLS borders on criminal: we pay for, and are continually defrauded by their so called reports...generated exclusively for journalist consumption apparently. I sat down last year and checked the damage done to me by inflation in 2021-2022. That period was the equivalent of roughly 22% compounded inflation year over year. So what cost me $100 in 2020 was north of $145 as 2023 kicked off. These clowns need to go back to pre-Reagan methodology, or bulldoze their facilities, do a pension buyout to preclude lawsuits, and soyonara: don't let the door hit them in the azz. Meanwhile, I'm sticking to a butter/eggs/gas number - that is real. But where do we go to get our purchasing power back from these maniacs running DC? We basically had Treasury [and congress] at war with the Fed, and Treasury won: spending so much, the interest rates needed to correct the damage would have buried wall street - dow would be back to 12,000 territory or worse..

@bigb6046

Ай бұрын

Me too , it is crazy and you don't seem to get as much as you used to get because packaging is smaller.

I’ve been listening to Peter shift since 2008. Yes everything Peter said is true. I tell my family and friends but they don’t listen--F them!

@ace9840

Ай бұрын

I know exactly what you’re saying. I had the same problem after 2008 because I knew what was coming next. And after a few years all I was getting was eye rolls and comments like, “here he goes again. Then it dawned on me it wasn’t their fault it was mine because I was talking way over their heads. So I changed tactics and made out a list of what to look for in the coming years. About twelve months later they stated coming around and it a complete about-face. The first one that they noticed was the first one on the list which as .. Watch places like McDonalds and Walmarts and you’ll see much older people working the jobs teens are doing today.”

Real people know real inflation is much higher.. people are losing ground..

America is truly doomed. I'm seeing more and more homeless outside.

I remember in 2021, I couldn't find a PS5 or an RTX 3090 anywhere and people were paying 2x MSRP from scalpers. Now you can easily find the new GPUs and PS5 for below MSRP. So you know inflation is hurting people if they aren't buying these discretionary goods.

@badpuppy3

Ай бұрын

That was due to supply chain disruptions at chip manufacturers in Asia due to covid.

With respect, Peter Schiff has been correct about 23 of the last 1 recessions. Yeah, the economy is shit, but Peter is always the glass is 7/8 empty... hell, glass has a large hole in the bottom of it. He's totally correct on American workers being absolutely strapped financially. And possibly already in a recession-- totally agree.

@nickvin7447

Ай бұрын

This typical moronic response is beyond tired. We’d be in a deep recession right now if the government would stop printing money.

@bigb6046

Ай бұрын

I think Schiff is correct and if anything he gives the government too much credit. I don't think even he could see the stupid and irresponsible things the government would do. I think we are at the point of no return and the only end result is a depression eventually we can't have 40 trillion + in national debt plus 200 trillion in unfunded entitlements and have a good ending. Soon when another 10 million broke Americans retire and need Social Security , Medicaid etc we will see the real fallout of 50 years of this bad behavior.

Raising interest rates up to only half the level of TRUE inflation was never going to do much to curb inflation. Imagine if Volker had done that how much more inflation would have raged.

@Newlinjim

Ай бұрын

@anotheruser5654 Or enough integrity to make the hard choices required of their mandate. The only way to restrict the unproductive issuance of fiat currency is through the FED. If unwilling to do so the people have no recourse against an unelected group. Your choices are outside the realm of holding the fiat currency.

Even the cost of skyrockets are skyrocketing.

So are Australians , and New Zealanders and Canadas and UK people and so on same same all round the world 🫣😩😭😳👀🤔😉😉

The sky is always falling with this one since 2010

Canada is in the same boat. Our boat is full of hole and we are painting the deck so it looks good when it sinks.

Was not that long ago that Schiff was stating the FED will have to lower rates. The FED should have raised rates months ago. The present rates have not been restrictive.

How to fight inflation is to fake the numbers ;)

Items are flying off the shelves and the merchants had to increase the prices. Why, because people are flashed with cash 😊

Back to 1980 economy

what are you talking about here?????????? I see high end restaurants and discos packed with customers and consumers spending globs of $$$$$$$$$$$$$$$$$$!!!

Yup, we’re all doomed!

That’s what happens when wages are stagnant and CEO incomes are at record levels.

Business is TERRIBLE!

Funny how air travel is increasing by about 6% in 2024. Life support must be at 35,000 feet.

This is what happens when we do quantitative easing. Normal people become poorer and rich people become richer and poor people become homeless.

People maybe cant drive a 60000 dollar truck need cheaper interest rate to purchase 60000 truck

@Newlinjim

Ай бұрын

The truck didn’t go up in value, the purchasing power of the dollar went down. Higher interest rates will increase the value of the dollar and drive prices down as demand weakens.

the economy is working super great if you're in the top 10% and own the stocks.

@skippyzk

Ай бұрын

For now

@dr_flunks

Ай бұрын

@@skippyzk we need a great recession to make more buying opportunities. i'll never spend allof it anyway so i don't care if it falls occasionally

THE AMERICAN PEON HAVE NO IDEA WHAT USA HAS IN-STORE FOR THEM.period

NO 💩

We've heard all this before, last year the year before that and the year before that .... Just your own personal opinion based on nothing new.

Heres more bad news.

and if the orange jesus gets elected?

Consumers should take care and prepare for these economic cycles. Things get tough and they start crying for help from politicians like Socialist.

To all my Trump supporters, don't be silenced, don't be shamed, don't be afraid. That's what the masses want - keeping you in the shadows, keeping you quiet without a voice. Speaking up is your God-given right - use it or lose it. Stand strong 💪 stand united 🇺🇸

Schiff: Dr. Doom jr.

@KingDanny9

Ай бұрын

I see more homeless people outside now then ever before. Old homeless people especially, but young as well. America is doomed. Too much inflation.

Don’t listen to Peter the 🤡 Here in Cali on a Saturday evening roads are crowded and restaurants are jam packed. People are spending on expensive dinners and drinks and not to mention tipping the waiters…beaches are crowded…everyone is just happy and having fun… Gas prices are over $5 per gallon and they are able to afford. Things are as fine as can be

@TheAzurefang

Ай бұрын

People on a beach in california do not represent the entire US economy

More gloom-and-doom prophets...for clicks.

Fuck yea baby 2024 Biden