Exactly and they spread the rumor that the economy is great great for who? Stores and merchants perhaps but sure not for wages as they have not kept up with the rising inflation
@KingofBones1 Stores and merchants are suffering. Rising costs means less sales as people pull back spending. Just because the prices are higher does not mean the retailers are responsible for the increase. Their profits are falling not rising. Also, in so many urban areas, retail theft is not only rampant, it's not enforced.
@carpediem that is mostly true except for merchants of necessities that we cannot do without such as gas groceries or certain home improvement goods that are absolutely necessary those merchants are making a killing
@KingofBones1 I'm not quite sure that's accurate. Necessity goods generally have consistent sales volumes because as you say, they are necessary. But the costs are rising for them too. Perhaps their margins are staying the same thus rising profits as COGS rise and they pass along those increases.
@carpediem perhaps sometimes but other merchants I know for a fact are doing quite well and no matter what the profit margin may be the truth is wages have not kept up with the increase no matter how you slice the pie and the gulf between rich and poor is growing under the current Regine this I know for a fact because I experience it and I see it every single day
@carpediem exactly and unfortunately it's creating a chasm that is hurting the little man with a Democrat or Republican does not matter to me what matters to me most is the prosperity and benefit of every day American people as a whole so while each administration has its good points and bad this is a major factor that decides my vote
@KingofBones1 You're not alone. The only time I recall a similar problem with inflation really killing regular Americans is back in the late 70's. That was awful.
@carpediem I heard about that in the Carter administration with the artificial shortages people were desperate in this situation with dire I hope we never return to those days
@KingofBones1 I recall waiting in gas lines for 45 minutes or longer. Mortgage rates in excess of 16% at the end of his presidency. You just did not feel good being an American under Carter. Today it's eerily similar to those days.
@carpediem remember only being able to buy gas on an even or odd day , depending on the digits on your license plate ? My parents had a 13% mortgage at the time. That’s freakin double what it is now . And 4 x my rate of 3.125%
@AthrillatheHunt Yes, I recall. It was crazy. Some of that was attributable to the silly idea of price controls.
My first mortgage was 9.75%. I was lucky. I know others who bought at 12% plus. Crazy. But we're just shy of 8% today. I have no clue how young people can afford to buy a home.
