SaysWho? Posted August 12 Share Posted August 12 Americans' refusal to keep paying higher prices may be dealing a final blow to US inflation spike APNEWS.COM The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Quote The great inflation spike of the past three years is nearly spent — and economists credit American consumers for helping slay it. Some of America’s largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren’t cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn’t raise prices very much without losing business. Quote A more price-sensitive consumer helps explain why inflation has appeared to be steadily falling toward the Federal Reserve’s 2% target Quote The reluctance of consumers to keep paying more has forced companies to slow their price increases — or even to cut them. The result is a cooling of inflation pressures. Quote And [the New York Fed] expect inflation to average just 2.3% over the next three years, the survey found, the lowest such figure since the survey began in 2013. 1 Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 12 Share Posted August 12 I mean yeah, that’s how capitalism is supposed to work? 1 Quote Link to comment Share on other sites More sharing options...
Xbob42 Posted August 12 Share Posted August 12 Just now, Uaarkson said: I mean yeah, that’s how capitalism is supposed to work? No you don't get it, we should get to turn the price knob up forever! 2 Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 12 Share Posted August 12 2 minutes ago, Xbob42 said: No you don't get it, we should get to turn the price knob up forever! And apparently the basic consumer is a hero for slaying the evil inflation dragon by being dirt poor. 1 Quote Link to comment Share on other sites More sharing options...
Reputator Posted August 12 Share Posted August 12 You know, I'm pretty sure I got like a D in high school economics, and I could have told any of these idiot companies that higher prices result in lower demand. Quote Link to comment Share on other sites More sharing options...
finaljedi Posted August 12 Share Posted August 12 I have personally stopped eating out and have replaced my Netflix subscription with piracy. 1 Quote Link to comment Share on other sites More sharing options...
Dodger Posted August 12 Share Posted August 12 We solved inflation by being too poor to buy anything! 1 Quote Link to comment Share on other sites More sharing options...
Ominous Posted August 12 Share Posted August 12 Switching from name brand to store brand groceries can literally cut your food bill for these items to nearly in half. I can't really taste the difference between $3 Greek yogurt and $6 Greek yogurt since I'll be adding fruit or other things to it. Heck I like Meijer brand cottage cheese over daisy. The only exception is maybe peanut butter. I'm a jiff natural whore even if it has palm oil in it. I don't eat out much at all, and pretty much cook all my meals from scratch these days outside of a few ingredients. Quote Link to comment Share on other sites More sharing options...
SaysWho? Posted August 12 Author Share Posted August 12 4 minutes ago, Dodger said: We solved inflation by being too poor to buy anything! My not renewing Playstation Plus was the final push that did it, actually. 1 1 1 1 Quote Link to comment Share on other sites More sharing options...
marioandsonic Posted August 12 Share Posted August 12 Surely this will get solved if we give millionaires another tax cut! That money is sure to trickle down any time now! 1 Quote Link to comment Share on other sites More sharing options...
Xbob42 Posted August 12 Share Posted August 12 Here come the NYT articles about how "there's too many people, actually" and we need to thin the herd so the leftovers will be less poor and can spend more. Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 13 Share Posted August 13 2 hours ago, Xbob42 said: Here come the NYT articles about how "there's too many people, actually" and we need to thin the herd so the leftovers will be less poor and can spend more. Works for me. One less asshole in the left lane. Quote Link to comment Share on other sites More sharing options...
Uaarkson Posted August 13 Share Posted August 13 11 hours ago, Reputator said: You know, I'm pretty sure I got like a D in high school economics, and I could have told any of these idiot companies that higher prices result in lower demand. They probably assumed that cuz number go up, consumers must have the extra cash laying around to spend $6 on a bag of chips. Capitalists have absolutely no idea how poor the average American is. Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted August 13 Share Posted August 13 12 hours ago, finaljedi said: I have personally stopped eating out and have replaced my Netflix subscription with piracy. 3 3 Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted August 13 Share Posted August 13 12 hours ago, SaysWho? said: My not renewing Playstation Plus was the final push that did it, actually. I try to load 1-2 years when it goes on sale around Black Friday (usually 25-33% off). If it doesn’t go on sale anymore I’d probably let it expire tbh Quote Link to comment Share on other sites More sharing options...
elbobo Posted August 13 Share Posted August 13 27 minutes ago, Spork3245 said: When an ad came up on prime that said "this program is presented ad free AFTER this advertisement" I felt completely justified in all the pirating I have done and will do in the future Quote Link to comment Share on other sites More sharing options...
Commissar SFLUFAN Posted August 13 Share Posted August 13 Speaking of inflation... Wholesale inflation measure rose 0.1% in July, less than expected WWW.CNBC.COM The producer price index for July was expected to increase 0.2%, according to the Dow Jones consensus estimate. Quote A key measure of wholesale inflation rose less than expected in July, opening the door further for the Federal Reserve to start lowering interest rates. The producer price index, which measures selling prices that producers get for goods and services, increased 0.1% on the month, the Labor Department’s Bureau of Labor Statistics reported Tuesday. Excluding volatile food and energy components, core PPI was flat. Economists surveyed by Dow Jones had been looking for an increase of 0.2% on both the all-items and the core readings. Quote Link to comment Share on other sites More sharing options...
finaljedi Posted August 13 Share Posted August 13 1 hour ago, Spork3245 said: Pretty much, I went like about 20 years without downloading much of anything. But last year it was the one-two punch of jacking up the price and telling me I had to pay more still to have my mother on my account. I set up a Plex server and told her to let me know if there's something she wants and it'll be on there the next day. The cheap no log VPN keeps copyright notices away. Quote Link to comment Share on other sites More sharing options...
Dodger Posted August 13 Share Posted August 13 Just got my car insurance renewal, this shit is getting ridiculous. Almost up to 4k a year for two cars that aren't fancy and nothing on the record for over a decade. 1 Quote Link to comment Share on other sites More sharing options...
GeneticBlueprint Posted August 13 Share Posted August 13 5 minutes ago, Dodger said: Just got my car insurance renewal, this shit is getting ridiculous. Almost up to 4k a year for two cars that aren't fancy and nothing on the record for over a decade. Mine went from 1440 -> 2280 in one year. No accidents or tickets or anything. Ridiculous. 2008 Ford Ranger. 2016 Hyundai Santa Fe. 1 Quote Link to comment Share on other sites More sharing options...
Spork3245 Posted August 13 Share Posted August 13 5 minutes ago, Dodger said: Just got my car insurance renewal, this shit is getting ridiculous. Almost up to 4k a year for two cars that aren't fancy and nothing on the record for over a decade. Just now, GeneticBlueprint said: Mine went from 1440 -> 2280 in one year. No accidents or tickets or anything. Ridiculous. 2008 Ford Ranger. 2016 Hyundai Santa Fe. Yea, mine went up about 70-80% in the past year despite 0 accidents/tickets/whatever. Quote Link to comment Share on other sites More sharing options...
finaljedi Posted August 13 Share Posted August 13 What the hell? My car insurance is 918 a year, full coverage on a 2019 Mazda 3, just me. I've had the same policy from Progressive for like 17 years with no claims and only one ticket in that time though Quote Link to comment Share on other sites More sharing options...
Dodger Posted August 13 Share Posted August 13 2 minutes ago, finaljedi said: What the hell? My car insurance is 918 a year, full coverage on a 2019 Mazda 3, just me. I've had the same policy from Progressive for like 17 years with no claims and only one ticket in that time though Damn where the fuck do you live. I have a 2022 Honda CIvic with just over 7000 miles on it because I don't drive and a 2019 Dodge Journey base model that does have a 100k miles on it because that does get driven, two 41 year old drivers with clean records and I live an hour outside Phoenix, and I have Progressive. Now I gotta start figuring out if its worth it to keep "full coverage" on the Dodge. Its just nuts. 1 Quote Link to comment Share on other sites More sharing options...
finaljedi Posted August 13 Share Posted August 13 5 minutes ago, Dodger said: Damn where the fuck do you live. I have a 2022 Honda CIvic with just over 7000 miles on it because I don't drive and a 2019 Dodge Journey base model that does have a 100k miles on it because that does get driven, two 41 year old drivers with clean records and I live an hour outside Phoenix, and I have Progressive. Now I gotta start figuring out if its worth it to keep "full coverage" on the Dodge. Its just nuts. The stretch of nothing between Cincinnati and Dayton, Ohio Quote Link to comment Share on other sites More sharing options...
Brian Posted August 13 Share Posted August 13 My cars went up 35% (2020 Tiguan and 2009 A4) and house stayed the same (Liberty Mutual) in North NJ. We started to shop and will probably move to NJM based on the quote we just got. We used to insurance shop every 2 years but with the pandemic and a kid, we didn’t have the time. Crazy how expensive insurance is. No claims or tickets. Quote Link to comment Share on other sites More sharing options...
Jason Posted August 13 Share Posted August 13 sure is a mystery (this is SF data but same trends nationwide) Quote Link to comment Share on other sites More sharing options...
b_m_b_m_b_m Posted August 13 Share Posted August 13 Less than $1k annually for full coverage on my 2021 Sienna for my wife and I. Probably will go up now that I just had a claim for a hit and run I was a victim of. Quote Link to comment Share on other sites More sharing options...
Ominous Posted August 13 Share Posted August 13 $2100 a year for 2 cars, 2023 and a 2022, full coverage. Home owners seems to be going up more than auto here. Quote Link to comment Share on other sites More sharing options...
Nokra Posted August 13 Share Posted August 13 I'm also in the $900/year club for insurance, but it's for a 2007 Prius with nearly 300,000 miles on it. Quote Link to comment Share on other sites More sharing options...
silentbob Posted August 13 Share Posted August 13 17 hours ago, Ominous said: Switching from name brand to store brand groceries can literally cut your food bill for these items to nearly in half. I can't really taste the difference between $3 Greek yogurt and $6 Greek yogurt since I'll be adding fruit or other things to it. Heck I like Meijer brand cottage cheese over daisy. The only exception is maybe peanut butter. I'm a jiff natural whore even if it has palm oil in it. I don't eat out much at all, and pretty much cook all my meals from scratch these days outside of a few ingredients. Would think it’s the same stateside but a lot of name brands are behind the store brand products. In Canada for example at Walmart the great values: ice cream - Chapman’s chips - humpty dumpty bread - dempsters Although I agree that some name brand do taste better. Although I guess it also depends on what store you shop at, and who covers what Quote Link to comment Share on other sites More sharing options...
SuperSpreader Posted August 13 Share Posted August 13 48 minutes ago, Jason said: sure is a mystery (this is SF data but same trends nationwide) sleepy cops Quote Link to comment Share on other sites More sharing options...
osxmatt Posted August 13 Share Posted August 13 18 hours ago, Xbob42 said: No you don't get it, we should get to turn the price knob up forever! turning a big dial taht says "Prices" on it and constantly looking back at the audience for approval like a contestant on the price is right 1 Quote Link to comment Share on other sites More sharing options...
Spawn_of_Apathy Posted August 13 Share Posted August 13 5 hours ago, Spork3245 said: you can tell how old that meme is by many major streaming services aren’t listed. lol 1 Quote Link to comment Share on other sites More sharing options...
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