How is the Economy Doing Right Now?

[rambot]

It seems like there haven't been many pointed discussions about the economy down in the US right now.
Seems that the DOW continues to improve.
Unemployment is at BEST, underwhelming.
The inflation on foods is becoming quite untenable for many.
Farming, as an American industry is on the brink of complete disaster (if we are to believe American farmers)

But I don't live there.

What are you passionate about here? What are the really GREAT things you see happenning? What are the troubling things?

I'm curious.

 

[Aryeh Jay]

Personally I don't have time to worry about frivolous things like the economy when I'm busy tracking down people who say bad things.

 

[bèlla]

I went to Costco the other day and witnessed the price increases. My whole bean coffee was nearly $5 dollars more and there were noticeable gaps in some areas. I saw the largest changes in the meat department. They’ve whittled down the beef and lesser quality steaks were selling for $100 dollars a pack. I muttered under my breath you might as well buy a cow which refers to purchasing a portion of the animal in bulk. It’s a flat rate and the per pound costs are all the same no matter the cut.

They were missing garlic, celery and carrots too and it was a little unnerving. I looked at the receipt when I checked out and shook my head. It was mostly odds and ends. We get most of our food from the farmers market and a bulk supplier. As I watched the crowd I felt a sense of sorrow. I didn’t have a cart full of staples or meat and the bill wasn’t low. It would easily cost twice as much for that and isn’t sustainable for most.

I saw an article a little while ago about shoppers rationing their meat consumption to once a week and depression era cooking is a popular term. I’ve noticed more frustration from viewers about the lack of affordability in content. And I’ve witnessed people bickering over the butter portion in a recipe. That’s where we are.

I think the government should encourage everyone to start a garden and consider giving them a voucher for seeds. That would lessen the burden. We should take advantage of abandoned lots and community spaces for seniors and others with no room to grow. And we need to learn how to be better home economists which includes making meals from scratch, baking, bread making and so on.

You’ll trim a lot from your budget just with that in addition to the garden. If you preserve the excess you’ll spend less at the store. We’ve lived that way for years. But that’s unlikely to occur and suffering will increase I suppose.

~bella

ETA: I forgot to include the offerings for beef. They’ve never been this thin. The store had a case with tenderloin, brisket and ribs and another with different cuts of steak and beef chuck in cubes. Ground beef was elsewhere and the store had no roasts. But they increased their supply of chicken to make up for reductions.

 

[essentialsaltes]

Grocery prices continue to deliver little unpleasant shocks every week.

As a liberal elite, it hasn't affected my arugula and wagyu lifestyle, but I am sure people living paycheck to paycheck must feel it terribly.

My investments and 401k have gained in value, but I certainly have a concern that Wall Street has become divorced from the realities on Main Street. Is it a bubble that will burst when the fantasy can't be maintained any longer? I'm taking it seriously enough that I've liquidated some (not a lot) of my stocks into cash that I'm sitting on.

 

[Freth]

Food prices are pretty high right now. My budget for groceries is $100 per month. I used to shop at Kroger, but I've had to switch to Aldi to get more groceries for my money. I am able to get enough food to last a month. Some time before the food prices went up I went mostly vegetarian, and it saved me a lot of money not having to buy meat. I grew up on depression era recipes and vegetarian recipes, so I've been using that knowledge to stretch my food. I'm not struggling...yet.

 

[rambot]

I remember when Republican voters "cared" about inflation.

 

[rambot]

Food prices are pretty high right now. My budget for groceries is $100 per month. I used to shop at Kroger, but I've had to switch to Aldi to get more groceries for my money. I am able to get enough food to last a month. Some time before the food prices went up I went mostly vegetarian, and it saved me a lot of money not having to buy meat. I grew up on depression era recipes and vegetarian recipes, so I've been using that knowledge to stretch my food. I'm not struggling...yet.

100 a month? May I ask where you live? Are you very old or very young on your own?


That's impressively small. Good for you!

 

[Freth]

100 a month? May I ask where you live? Are you very old or very young on your own?


That's impressively small. Good for you!

I live alone in what is called the Midwest, in Ohio. I retired from my career when I reached 30 years. I am living on a retirement pension. I am 54, so not quite retirement age; I retired early by age standards.

I can't take credit for it. I grew up poor. My great grandmother and grandmother lived through the depression. My mother was raised on the recipes, and she raised us on them. I made sure to pay attention to what grandma and mom were cooking.

I also credit my church, because it pioneered meat substitutes in America.

Dr. John Harvey Kellogg (of Kellogg's cereal fame), a church member, invented several cereal recipes as well as meat substitutes. The church founded a company called Loma Linda Foods, which made vegetarian meat substitutes. Dr. George T. Harding, also a church member, founded Worthington Foods.

The church has a vegetarian health message. There was no meat at potlucks, only vegetarian dishes. I grew up eating homemade vegetarian dishes and meat substitutes from the aforementioned companies. The church members swap recipes, so there are plenty of vegetarian recipes going as far back as the 1800's.

 

[RileyG]

I remember when Republican voters "cared" about inflation.

I sincerely wonder if the pandemic has seriously ruined our economy in the years to come?

Who knows?

 

[Freth]

I sincerely wonder if the pandemic has seriously ruined our economy in the years to come?

Who knows?

I hope not.

 

[RileyG]

I hope not.

Me either, but it has seemed to have done irreparable damage.

 

[Freth]

Me either, but it has seemed to have done irreparable damage.

I'm not worried. God will provide. He always does. If the cost of living keeps rising I might eventually have to live out of my vehicle, but I'll cross that bridge when I come to it.

 

[NxNW]

My investments and 401k have gained in value, but I certainly have a concern that Wall Street has become divorced from the realities on Main Street.

The stock market and economy are two different things. The former is forward-looking, while the later is backward-looking in that the Fed is reactive.

Is it a bubble that will burst when the fantasy can't be maintained any longer? I'm taking it seriously enough that I've liquidated some (not a lot) of my stocks into cash that I'm sitting on.

Putting money in cash is a guaranteed loss due to inflation. Money Market or high yield savings is a better choice for short term savings.

 

[NxNW]

I remember when Republican voters "cared" about inflation.

Things change. Now we're worried about what comedians say.

 

[NxNW]

I sincerely wonder if the pandemic has seriously ruined our economy in the years to come?

Who knows?

I think we've emerged from that event, but Trump's meddling with the Fed & SEC to hide his failures does not bode still.

 

[rambot]

Things change. Now we're worried about what comedians say.

Well comedians are definitely thr biggest threat to america

 

[rambot]

I sincerely wonder if the pandemic has seriously ruined our economy in the years to come?

Who knows?

Nah. This is 100% bad policy. I mean how many experts would a person need to hear that from?

 

[mark46]

It seems like there haven't been many pointed discussions about the economy down in the US right now.
Seems that the DOW continues to improve.
Unemployment is at BEST, underwhelming.
The inflation on foods is becoming quite untenable for many.
Farming, as an American industry is on the brink of complete disaster (if we are to believe American farmers)

But I don't live there.

What are you passionate about here? What are the really GREAT things you see happenning? What are the troubling things?

I'm curious.

Farmers will get a bailout just like they did in Trump's first term.

 

[mark46]

I remember when Republican voters "cared" about inflation.

Do you remember what we used to call bad inflation in the 70's?

 

[RileyG]

I think we've emerged from that event, but Trump's meddling with the Fed & SEC to hide his failures does not bode still.

I don’t know. I don’t know, anymore.