Prices of Everything Is Going UP - Value of Everything Is Going DOWN (Peter Schiff)

PurpleThrobber said:

Inflation is here, folks.

Getting slaughtered on a construction job right now. Lumber prices are cray cray.

Haha lumber

FireCohen said:

PurpleThrobber said:

Inflation is here, folks.

Getting slaughtered on a construction job right now. Lumber prices are cray cray.

Haha lumber

Or, like we say......




WOOD!

The value of guns and ammo is not going down.

BleachedAnusDawg said:

I bought a cedar gazebo from Costco yesterday at 5 am. They had it in their sale that started that day. Checked back a little after Noon and they were sold out. Not a HUGE ticket item, but not cheap, either. Too much funny money floating around right now. Roaring 20's all over again? What were the 1820's like, @RaceBannon ?

I wouldn’t say it’s funny money as much as it’s unused summer 2020 vacation funds/money saved not eating out/going to bars/going to sporting events burning a hole in people’s pockets

ntxduck said:

BleachedAnusDawg said:

I bought a cedar gazebo from Costco yesterday at 5 am. They had it in their sale that started that day. Checked back a little after Noon and they were sold out. Not a HUGE ticket item, but not cheap, either. Too much funny money floating around right now. Roaring 20's all over again? What were the 1820's like, @RaceBannon ?

I wouldn’t say it’s funny money as much as it’s unused summer 2020 vacation funds/money saved not eating out/going to bars/going to sporting events burning a hole in people’s pockets

You don't think it's the stimulus money / extra child credits? You are more optimistic than I.

BleachedAnusDawg said:

ntxduck said:

BleachedAnusDawg said:

I bought a cedar gazebo from Costco yesterday at 5 am. They had it in their sale that started that day. Checked back a little after Noon and they were sold out. Not a HUGE ticket item, but not cheap, either. Too much funny money floating around right now. Roaring 20's all over again? What were the 1820's like, @RaceBannon ?

I wouldn’t say it’s funny money as much as it’s unused summer 2020 vacation funds/money saved not eating out/going to bars/going to sporting events burning a hole in people’s pockets

You don't think it's the stimulus money / extra child credits? You are more optimistic than I.

Maybe partially. But I think the forced out of necessity habits of last year contribute more. I spent basically nothing on gas/entertainment/travel in 2020. When in a normal year that bucket would be filled with 10+ stimulus payments

could be pent up demand since we had to shut the whole world down for the deadliest virus ever

greenblood said:

PurpleThrobber said:

Inflation is here, folks.

Getting slaughtered on a construction job right now. Lumber prices are cray cray.

Inflation isn't causing lumber price increases. It's a combination of Canadian lumber tariffs, increased logging restrictions, record increase in new home construction, and people using stimulus money on home improvements instead of vacations. Demand >>> Supply

Ummmm...that kinda is the definition of inflation. I guess you can argue it’s unique to lumber because of specific reasons but I’d argue if you’ve gone to the grocery store you’ve seen the same thing. Hell, I’d argue with oil demand down I’m still trying to figure out why WTI is 20% higher today than it was for most of 2019...

PurpleThrobber said:

BleachedAnusDawg said:

I bought a cedar gazebo from Costco yesterday at 5 am. They had it in their sale that started that day. Checked back a little after Noon and they were sold out. Not a HUGE ticket item, but not cheap, either. Too much funny money floating around right now. Roaring 20's all over again? What were the 1820's like, @RaceBannon ?

That Costco gazebo is amazing. Eyed the shit out of it - $1499/$1599, I don't recall. But, alas, high priced wood means no gazebo for the palatial lodge.

Poors gonna poor.

BennyBeaver said:

PurpleThrobber said:

BleachedAnusDawg said:

I bought a cedar gazebo from Costco yesterday at 5 am. They had it in their sale that started that day. Checked back a little after Noon and they were sold out. Not a HUGE ticket item, but not cheap, either. Too much funny money floating around right now. Roaring 20's all over again? What were the 1820's like, @RaceBannon ?

That Costco gazebo is amazing. Eyed the shit out of it - $1499/$1599, I don't recall. But, alas, high priced wood means no gazebo for the palatial lodge.

Poors gonna poor.

Need to conserve cash for the down on a third home.

Not easy having to make those kind of financial decisions. It's a sweet gazebo but Mrs. PT v.20 wants something in warmer climes NOW.

creepycoug said:

HoustonHusky said:

greenblood said:

PurpleThrobber said:

Inflation is here, folks.

Getting slaughtered on a construction job right now. Lumber prices are cray cray.

Inflation isn't causing lumber price increases. It's a combination of Canadian lumber tariffs, increased logging restrictions, record increase in new home construction, and people using stimulus money on home improvements instead of vacations. Demand >>> Supply

Ummmm...that kinda is the definition of inflation. I guess you can argue it’s unique to lumber because of specific reasons but I’d argue if you’ve gone to the grocery store you’ve seen the same thing. Hell, I’d argue with oil demand down I’m still trying to figure out why WTI is 20% higher today than it was for most of 2019...

I finally got you now @HoustonHusky ... forgive me, I'm slow.

Your point is that it's inflation because all of the demand is, to put it succintly, "fake" demand because of all the monopoly money. I get that; I hear you. That makes some sense.

It would be a close cousin to the worst kind of inflation, where for fundamental reasons your currency is worth a fraction of what it was ... we all like to use Post WWI Germany as the base case for that scenario. But if you're printing your way to a good economy, you have the same problem in that the economic activity is not based or predicated upon incremental value creation in said economy.

Is that more or less accurate Economis bros?

Yup. I discount the argument of 'sure lumber/housing is up because people aren't going on vacation and spending it on that' as reinforcing my point. Print money and give it to people and they have it and spend it, and therefore demand goes up artificially more than it should. And its not like the airlines are on life support giving away free tickets to balance it out...was looking at flights for this summer and they are as/more expensive as they were last year. Airlines may be flying less total flights, but its not like its costing the consumer 50% less to get around. Get enough free govt cheese and they can/were able to sustain without the fire sale normally involved with a structural change in behavior. Booking a place in Florida this summer wasn't easy...most everything is booked and it not any cheaper than it was last year...actually prices have gone up.

For all the stuff I've seen that has gone up (oil/gasoline, housing, lumber, food, contractor work, etc) I haven't seen the corollary stuff that has gone down to supposedly balance it out...

ntxduck said:

HoustonHusky said:

creepycoug said:

HoustonHusky said:

greenblood said:

PurpleThrobber said:

Inflation is here, folks.

Getting slaughtered on a construction job right now. Lumber prices are cray cray.

Inflation isn't causing lumber price increases. It's a combination of Canadian lumber tariffs, increased logging restrictions, record increase in new home construction, and people using stimulus money on home improvements instead of vacations. Demand >>> Supply

Ummmm...that kinda is the definition of inflation. I guess you can argue it’s unique to lumber because of specific reasons but I’d argue if you’ve gone to the grocery store you’ve seen the same thing. Hell, I’d argue with oil demand down I’m still trying to figure out why WTI is 20% higher today than it was for most of 2019...

I finally got you now @HoustonHusky ... forgive me, I'm slow.

Your point is that it's inflation because all of the demand is, to put it succintly, "fake" demand because of all the monopoly money. I get that; I hear you. That makes some sense.

It would be a close cousin to the worst kind of inflation, where for fundamental reasons your currency is worth a fraction of what it was ... we all like to use Post WWI Germany as the base case for that scenario. But if you're printing your way to a good economy, you have the same problem in that the economic activity is not based or predicated upon incremental value creation in said economy.

Is that more or less accurate Economis bros?

Yup. I discount the argument of 'sure lumber/housing is up because people aren't going on vacation and spending it on that' as reinforcing my point. Print money and give it to people and they have it and spend it, and therefore demand goes up artificially more than it should. And its not like the airlines are on life support giving away free tickets to balance it out...was looking at flights for this summer and they are as/more expensive as they were last year. Airlines may be flying less total flights, but its not like its costing the consumer 50% less to get around. Get enough free govt cheese and they can/were able to sustain without the fire sale normally involved with a structural change in behavior. Booking a place in Florida this summer wasn't easy...most everything is booked and it not any cheaper than it was last year...actually prices have gone up.

For all the stuff I've seen that has gone up (oil/gasoline, housing, lumber, food, contractor work, etc) I haven't seen the corollary stuff that has gone down to supposedly balance it out...

Flights are absolutely not as/more expensive than they were pre covid

I agree that they aren't nutty like lumber/oil and some of the other things and on average are still probably down some but they aren't still tanked like at least I would have expected. Having just looked at them I was shocked in that I assumed I would have gotten some sweet deals but they looked like they did before Covid...admittedly its summer vacation pricing but still kinda surprised me. Oil being higher is a bit of it but still surprised me...

https://www.cnbc.com/2021/03/20/say-goodbye-to-30-plane-tickets-the-era-of-dirt-cheap-flights-is-ending.html
The cheapest domestic leisure airfares, which include those promotional fares that airlines send to your inbox, were $59.48 as of March 15, still 26% lower than a similar week in 2019 but up more than 6% on the week, according to Harrell Associates, a firm that tracks airfares. Average leisure fares were nearly $187, up close to 5% on the week and close to 9% higher than a similar point in 2019.