Inflation

[daylatedollarshort]

I am seeing the biggest impact in fuel costs. DH and I like to take rides in the country at least every week, maybe take a picnic lunch. We are cutting that out and just having the picnic in our own yard.

We used to like to go to wine country for our get out of town days, but now I've been looking at things to do near the train and ferry stations. With senior fares, that is a lot cheaper these days.

 

[ShokWaveRider]

Petrol topped $4.50 here in North East Florida today. Glad we do not have to go to work every day in our gas guzzling truck like some plebs (AKA W$%rking stiffs) have to.

 

[VFK57]

Petrol topped $4.50 here in North East Florida today. Glad we do not have to go to work every day in our gas guzzling truck like some plebs (AKA W$%rking stiffs) have to.

SF Bay Area has average Gas 87 for $5.60

 

[mf15]

Last fall 2021 got an estimate to replace two sliding doors with Anderson,$9500,this was in a NJ beach town. March 2021 got one put in for $1900,same town. Oldmike

 

[Sunset]

I know that Jim Rickards is Gold promoter, yet he does not advise to keep Gold in more than 10% of anyone portfolio. However, how true is what he states about US$ future and statement that we are in depression, what will last longer than any depression or deep recessions before in history? Like many of us, I do nothing with our equities but wait till the Market/ economy improves. What do you think, how true Mr Rickards predictions?
https://jimrickards.blogspot.com/

We are not in a depression, nor a recession. People are actually wanting to spend too much money and the shortages due to China closing down from lockdowns, along with labor shortage in the US for trucking and shipping mean the opposite of a recession/depression.

In a recession or depression people cannot find work... look around, there are help wanted signs all over at nearly every store I visit, and they are paying twice minimum wage or more.

His dream of $15k / ounce for gold is purposefully vague, it won't get there in the next 20 yrs and maybe it will really be 100 years. Nobody knows. Possibly it will be nearly worthless within 100 years.

Seems to me the author is stoking fear, as fear makes people buy stuff from him or read his stuff from which he gets advertising revenue, and probably referral revenue if you click on things to buy.

 

[VFK57]

We are not in a depression, nor a recession. People are actually wanting to spend too much money and the shortages due to China closing down from lockdowns, along with labor shortage in the US for trucking and shipping mean the opposite of a recession/depression.

In a recession or depression people cannot find work... look around, there are help wanted signs all over at nearly every store I visit, and they are paying twice minimum wage or more.

His dream of $15k / ounce for gold is purposefully vague, it won't get there in the next 20 yrs and maybe it will really be 100 years. Nobody knows. Possibly it will be nearly worthless within 100 years.

Seems to me the author is stoking fear, as fear makes people buy stuff from him or read his stuff from which he gets advertising revenue, and probably referral revenue if you click on things to buy.

I know that all his Gold price predictions had never materialized and my question is about "our economy in a depression or sliding into it". I had seen many statements that we are in a Stagflation, when there is very little economic growth and same time we have a very high inflation. If the Feds continue raising rates, as per their last meeting, we surely push not so great economy deeper into recession (many articles in Bloomberg, Marcus, Market Watch etc.). Current inflation comes not from overheated economy, we all understand it. It is more from broken supply chains, Ukraine war with a Geopolitical split it caused, our enormous Debt and constant huge budget deficit.

 

[aja8888]

We are not in a depression, nor a recession. People are actually wanting to spend too much money and the shortages due to China closing down from lockdowns, along with labor shortage in the US for trucking and shipping mean the opposite of a recession/depression.

.

Trucking/shipping appears to be turning the corner according to the latest reports:

In February, the DAT’s Load-to-Truck ratio, which represents the number of loads posted for every truck on the DAT Load Boards, began declining, after the dizzying heights last year and the high in January of 9.3 loads for every truck. In March, the ratio was down to 4.6, and in April it fell to 3.4 loads per truck posted on the load boards.

Similarly, the Supply-Demand Balance in ACT Research’s for-hire survey got less tight earlier this year. In April, for the first time since June 2020, capacity to ship freight exceeded demand for shipping freight.

Similarly, average US spot rates for hauling van trailers, after rising to $3.10 per mile in January 2022, have declined, and in April dropped to $2.79 per mile, according to DAT.

You can find the whole article here:

https://wolfstreet.com/2022/05/12/signs-of-a-downshift-in-the-freight-cycle/

 

[NW-Bound]

Well, I dunno about truckers, but motorists are not driving less. If they were, the price of gasoline would not be so high. And the summer driving season has not really started.

I saw that regular unleaded gas is $4.79/gal at Costco, and other gas stations are $4.99-$5.19. Crude oil is at $113/barrel.

Now, I remember crude got as high as $140 back in 2009 or so, but I don't remember seeing gasoline at $5+/gal in my area.

Maybe my memory is failing me?