03-08-2024, 09:57 PM
(03-08-2024, 09:34 PM)NATI BENGALS Wrote: I have a hard time with that. Because I equate it to the typical American consumer who is terrible with finances and racks up credit card debt and makes impulse buys. Takes out $400,000 student loans for a $100,000 degree. Etc
I can go to McDonald’s and get two double cheeseburgers and two small fries for $7.
Taco Bell and get 5 soft tacos for 8 bucks.
Chipotle and get a giant burrito for a little over 9 bucks.
Not sure where you live, but two double cheeseburgers and two small fries is way more than $7 here in CA. A small fry here is $3.79 and a double cheeseburger is $4.89.
https://www.ubereats.com/brand-city/orange-ca/mcdonalds (please note prices vary slightly by site)
Quote:I can go to the grocery store and spend $200 and eat great healthy food and throw out a bunch of leftovers for two weeks straight.
Again, not here in CA. Zero chance a family can live like that on $100 a week.
Quote:Businesses listen when we talk with our wallets. I’m not a beer drinker but I thought about becoming one when the bud light cases were down to $5, what was that last year.
Cool?
Quote:Netflix is a good example. They just keep jacking up the price, and people just keep paying. So they just keep jacking. Take a look at how much money they are making.
So now you're arguing my point?
Quote:You know why the fed has held rates steady since last July? Because they are happy with how the fight against inflation is going.
Fascinating. Are the Fed and the average consumer the same thing?
Quote:Look at these rate hikes. During Biden’s term as we came out of a pandemic to go into the great resignation where a bunch of people wanted a better job and more money and that caused businesses to react and over hire and offer wage increases. Guess where that cost got passed down to?
https://en.wikipedia.org/wiki/History_of_Federal_Open_Market_Committee_actions
All that adds up and absolutely squeezes the lower and middle class who is borrowing money at higher rates. But the rate hikes have also helped bring the level of inflation way down. Which is why we haven’t had a rate hike since last July, and with the uptick in the unemployment rate today. Rate cuts became more likely in the near future.
This is a bit on the gibberish side, but essentially you're arguing my position. I make a very nice living and I've noticed the price increases. I can only imagine what a family on a tight budget has gone through the past two plus years. But that takes empathy, which apparently is not a partisan value.
