actually i think if we consider the fact our GDP only goes up on avg of 1.9 percent per year since 2006 low inflation was the only thing keeping any standard of living for the peasants. We can be sure that wages will not keep pace with any inflation higher than our dismal growth once they greatly exceed 2 or 3 percent based on the past couple decades .
CPI jumps 5% in May of 2021, fastest since 2008
- Thread starter Matt Collins
- Start date
- Joined
- Nov 5, 2010
- Messages
- 40,941
Gold moves to 1794 this morning , silver 23.21 . No real reason Gold isnt 1800 to 2K and silver 30. We shall see what the future holds other than tax increases , high inflation , high prices , wages that wont keep up , less people working , higher debt, 4 doll gas and deisel and the IRS checking your bank account for 600. Heating oil still over 2 1/2 , Nat Gas still over 5 1/2. Big winter heating bills coming starting in Nov .Just in time for a Christmas of empty shelves. Next downturn could start Jan. , surely likely to start before the next Jan . Nothing like the product of govt .
Last edited:
- Joined
- Nov 5, 2010
- Messages
- 40,941
Daily inflation brings one yr oil forecast to 93 this week , Brent Crude 84 , West Texas Light Sweet Crude 81.31 both up about another percent today. Hope your wages are rising two percent per day otherwise your behind . Heating oil up over another 1 1/2 percent , Nat Gas up another 1.71 percent as it approaches 6 , copper up 2 1/2 percent as it approaches 5.
Last edited:
Madison320
Member
- Joined
- Jan 11, 2012
- Messages
- 6,130
The good news is my oil stocks are going up like crazy.
The bad news is I just moved to a house heated with natural gas.
The good news is my oil stocks are going up like crazy.
The bad news is I just moved to a house heated with natural gas.
Well , depending on where you live and how much they charge for electric I'd guess Nat gas probably still going to be cheaper heat than electric or heating oil . Only heat warmer than Nat gas is wood .
CaptUSA
Member
- Joined
- May 17, 2011
- Messages
- 19,108
Due to nominal rigidity or "price stickiness", electric rates may stay low for longer.
Because most electric distribution rates have to be "approved" by utility commissions, they have to build complicated rate cases to raise their rates. That doesn't hold true for all generators or utility co-ops, but it means it'll take awhile for inflation to hit that sector.
Now, working in this industry, it concerns me because the costs of materials is rapidly rising and it is becoming harder and harder to get transformers, poles and wires... If major storms come through this winter and the ice damages the lines, utilities will have to operate at HUGE losses which will have to be worked into a future rate case. Not to mention that labor costs are going to skyrocket the next time the annual review process or union contracts come up. Those signs point to LONG restoration times, cuts in preventative maintenance, and political pressure to slash the utility return on equity.
In other words, keep that wood burner handy - we're going to need them!
- Joined
- Nov 5, 2010
- Messages
- 40,941
In case anyone missed it , one yr oil forecast hit 95 yesterday with West Texas Light Sweet Crude at around 83 and Brent Crude over 85 . Wholesale gasoline hovering around 2 1/2 meaning more people will see 3 1/2 at the pump . Heating oil still over 2 1/2 , Nat Gas still over 5.Look for more empty shelves between now and New Years . Gold and silver still look cheap although physical supplies will be thin rest of the year . Bitcoin over 66K and looks poised to push 70 soon.
Last edited:
TheTexan
Member
- Joined
- Sep 1, 2011
- Messages
- 28,161
Is that CNN talking head allowed to use the phrase "inflation is skyrocketing" ??
Seems like something he wouldn't be allowed to say.
Larry lepard on kitco news today , gold should be 10K ( probably would be without bitcoin) , dollar collapses within a decade . I say no way to tell when since theyve already gotten away with what they have to this point so far but i agree gold is undervalued. Larry very convincing though .
- Joined
- Jul 13, 2007
- Messages
- 64,273
Unilever CEO has price hikes to implement for twelve more months . Saying no chance to avoid inflation for next yr.Dove soap and Magnum ice cream raised prices four percent last quarter , more to come . Nestle , taking the gradual approch rose prices 2.1 percent last quarter . Nestle CfO expects 9 percent in europe and US by year end and higher next year .
Gold 1810.40 , Silver 24.82 this morning . The question is , after another year of 9 percent inflation next yr where will they be ? Bitcoin about 97 FRN's short of 62 K after reaching over 66K earlier this week. I'm thinking gold is at least 200 behind for inflation. Real price of silver is about 32.82 at todays dealer cost on a silver eagle , add ten percent for retail , so 36.11.
Last edited:
