I remember the good old days where you could get lunch for less than $10, Eggs for $1.50 a carton and gas for $2.50 a gallon. I can’t even afford to fucking eat anymore. 8.5% inflation really hit us broke college kids harder than Will Smith hit Chris Rock. Anyone else notice any ridiculous prices on things you remember being way more affordable a couple years ago (besides the obvious cars and house prices)?
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My rent went up 7% in February.
#inflationsucks
My landlord just gave me notice of a 41% rent increase.
wow
You in NYC?
Just remember to thank the admin while we Build Back Better guys. Any day now.
Biden obviously sucks ass, but are we seriously going to blame him for Trump bucks, PPP scams, decade long ZIRP, etc? Oh this is WSO so yeah we are lol
don't forget obama for TARP and beginning the easy money era
bush for iraq and saying homeownership is a right
clinton for graham leach bliley
reagan for incentivizing overdevelopment of RE
it goes on and on, both parties are guilty of greed, this is not the time to blame one side or the other. turn your focus on what you can control and you'll give a lot less of a fuck about washington. I've yet to see a candidate that favors resiliency over just making the S&P or GDP look good so they can remain in power, and that goes for all parties (save maybe Ralph Nader or some libertarians)
Biden has overseen more needlessly printed money in his barely 2 years in office than any other President in history, it's not even a remotely a close contest. Inflation's then compounded by utterly shite energy policy. To say otherwise makes you look about as well read on this topic as an elementary schooler. I am not discounting the decades of other shitty economic policy that lead to this situation either, progressives are inarguably to blame through as it was Wilson who created the Federal Reserve in the first place and made this all possible even though the Founding Fathers were explicit about what would happen if we allowed central banking. Fuck Nixon for taking us off the gold standard and Bush for the 20+ year, multi-trillion dollar foreign entanglements being launched on the back of outright lies.
adapt or die
yes inflation sucks, but you have no control over that. figure out why your budget was so sensitive to inflation in the first place? are you living too close to your means? why do things like eggs and gas cause you to say you cannot even afford to eat? now, if you're in an impoverished nation or living off food stamps, fair points and I'll shutup, but this forum tends to be populated with people that are at least middle class, so I'm curious why it's affected you enough to make such a strong statements
I just wrote a little about this here: https://www.wallstreetoasis.com/forum/off-topic/this-could-get-ugly-som…
OP said he was a college kid so will give him some grace here for sure.
For most people agree. Get a budget and dont get stressed out by stuff like gas getting more expensive
when I was in college gas was the equivalent of $5.37 for regular and I had a car that got 14mpg (because I thought I needed an SUV for surfing). it was also on the heels of the financial crisis and jobs were for shit. it's survivable, you just have to make some sacrifices
Because none of these people care about inflation, they care about blaming it on a Democrat.
This site is overwhelmingly people in their teens and twenties, who live in urban areas, and probably don't have the biggest monthly grocery budget as is. The couple extra dollars a week they're spending on eggs or whatever this troll is talking about is not impacting their bottom line at all.
Rents are up a ton, which might have something to do with, ya know... COVID discounts going away (or an influx of new migrants driving up rent), and gas is more expensive, but neither of those are Mr Biden's fault.
Putin’s fault?
I am a college student who pays for my own rent, tuition and car lol that’s why I notice things. Did sign a FT offer for when I graduate next year tho
I was right where you are at your age. Stick with it, things will get better, and congrats on the offer
I dont even know what is real anymore with money. Inflation always exists (when I was a kid old farts would say stuff like I remember when x was a nickel!) but it has just gotten crazy.
Wasn't that long ago, but 6 figure salary used to mean you fucking made it. Now it's like an early career number.
$200k+ comp was reserved for top tier jobs. Now it's middle management for a marketing firm.
Half million house meant something. Now it just means it's a house.
idk numbers just dont feel real anymore
+ people could retire with ~$1M in the bank
Yea that is another one. multi million dollars saved = modest retirement lol
My FT Partners Analyst salary ($140k base for An1 btw) barely even feels good anymore 😞☹️😢
Lmao the type of guy who brings up his job title within the first sentence of every conversation they have
I remember when $2.50/gal gas was the outrage because it was half that just a year or so before that! And before anyone calls me old enough to fart dust or something, I started driving in 2004 and it was already up to an "absurd" $1.88/gal.
If you want another college level wtf moment, a brick of millers used to only be $22. These days? I honestly don't even know if they still sell in that quantity or what'd it cost because my tastes have inflated too.
So it's not just prices, it's our own preferences that change too.
Don't get me started on this. If it shows how old I am... when I started driving, if gas broke $1.50, it meant we were on summer formula as opposed to the winter formula. Now... I'm dreading that line in the sand of $100 fill-ups for a sedan. And $22 for a 24 Pack of Miller? We were buying 30 Racks of Beast, Keystone, and Busch in bulk (think by the quarter pallet minimum) for $15... by the pallet... we were buying 'em at $10/30 Rack. Jeez... I'm fucking old.
Those who bought and locked housing in at sub 3 % in past 2 years are going to make a killing
Inflation is becoming a significant cost for lots of people and each person is going to be affected by it in a different way. Gas is very expensive and so is my cat's food, which doubled in price over the past few months. I am going to be looking for a new or used car soon and I am afraid to see the prices.
you own a cat? as a dude?
Two of them. You got a problem with it bruh, haha
Yes, the easy money (not just in current admin though, also prior admins) along with easy money policy did cause a high demand esp for housing / cars.
That led to high RE prices and that leads to high rent. This portion of the inflation is way more sticky and going to hurt.
Bro, Phili jalapeño cream cheese went from 3.69- 4.99 at my local grocery store. Everything Bagels 3.49- 4.69 as well. Costs $9.69 without tax to make my own bagel with cream cheese. Gas prices, make me want to put my face under a saw. Inflation man.
It's fucking insane man. I can't imagine what it's like for blue collar folks right now. Or even worse, elderly folks on a fixed income. This and the next few years are going to haunt the next several generations.
Market consolidation and corporate greed is what is largely driving inflation. Political policies such as eviction moratorium and lockdowns helped to drive these conditions but at the end of the day many people on this site were directly involved in the final piece of the puzzle.
Srimulus payments can only lead to transitory inflation (and even this requires some assumptions to be met). It has no role in the inflation we are seeing.
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