patrick.net

https://www.theepochtimes.com/mkt_breakingnews/inflation-surges-4-2-percent-annually-to-a-13-year-high-in-april_3812609.html?utm_source=patrick.net&utm_medium=patrick.net&utm_campaign=patrick.net

mell says

FuckCCP89 says

Shaman says

I drove to and from Vegas last weekend from LA. I didn’t see a single EV on the road on the way there and only one on the way back. They’re entirely ubiquitous in LA and OC, see them fucking everywhere! But apparently nobody wants to take them on a longer drive.

There is a taxi company running Teslas between LA and LV. Racked up huge miles on their fleet and claim they don't see any serious battery degradation.

At least it's always warm there.

Gets hot though.

Biden is pumping $s wherever he can including things like 'free' $50 internet for some. I am paying $40 that is less than the gov printing press. Most of the money going somewhere else as the numbers don't add up of 'stimulus' ongoing QE part of the rampant total corruption of corporations.

Hircus says

Supposedly the tesla superchargers (the higher tier ones) can deliver some really impressive charging rates now, and improvements are still coming. You can rapidly charge the battery from low to 50%, but charging slows down as the battery gets closer and closer to 100%. I think they say you can get like 200 miles of range in 15 minutes on the charger, which is actually pretty damn good.

Now, that's nice for city driving, and maybe certain long trips where you happen to have those mega chargers spaced perfectly along the highway, as stopping every few hours for a 15-20 min break while it charges isnt a big deal to me. But I can still think of lots of drawbacks compared to gas cars, for now.

But, as larger batteries get more affordable and common (they do have some 600 mile range EVs in the works right now, but they cost $$$), and as charging infrastructure continues to expand, I think EVs will work pretty good for many people.

Personally, I like to d...

Disclosure: I have a Tesla.
22,000 Tesla chargers total so far. Plus a fair number of non-Tesla Chargers, most not as fast charging.
There are about 110,000 Gas stations in the USA.
https://247wallst.com/energy-business/2020/08/02/how-many-gas-stations-are-there-in-u-s-why-its-important-to-know/

Musk was pretty brilliant to deploy the charging network in parallel with ramping EV production. The other companies still haven't caught on and adopted a single standard charger yet!! Honestly, the Government should fund a standard charging system, just like the Interstate System was funded. Instead, Tesla is the really only one who DID ANYTHING.

I'm willing to put up with some inconvenience to own a Tesla. Simple as that. I had to charge for the first time away from home the other day. I picked a 72KW station by mistake and took about 45 minutes to charge up. If I had chosen the 250Kw station less than two miles away, I would have charged up in 15 minutes. There is a learning curve, as with any new tech. But EVERY charging station is loaded into the Tesla Software with colors to show which ones are in range. This is constantly updated with Over The Air Software updates. If you choose to ignore the software and somehow run out of charge, Tesla has Roadside charging assistance.

Maybe Joe Sixpack isn't ready for EV's yet. But soon ICE vehicles will become more expensive and less convenient. "Wow, first thing I have to do today before I go driving is find a gas station!" My Tesla leaves the garage every day filled up.

rocketjoe79 says

Hircus says

Supposedly the tesla superchargers (the higher tier ones) can deliver some really impressive charging rates now, and improvements are still coming. You can rapidly charge the battery from low to 50%, but charging slows down as the battery gets closer and closer to 100%. I think they say you can get like 200 miles of range in 15 minutes on the charger, which is actually pretty damn good.

Now, that's nice for city driving, and maybe certain long trips where you happen to have those mega chargers spaced perfectly along the highway, as stopping every few hours for a 15-20 min break while it charges isnt a big deal to me. But I can still think of lots of drawbacks compared to gas cars, for now.

But, as larger batteries get more affordable and common (they do have some 600 mile range EVs in the works right now, but they cost $$$), and as charging infrastructure continues to expand...

I agree with you that TSLA has been ahead of its peers (but that comes with mistakes as well which its legacy peers won't have to repeat) and certainly a great investment early on and it will be a nice part of city and closer commutes, but that doesn't change the fact that there are a lot of challenges to overcome and that will be reflected in the stock price, the current decline shows no end in sight. IMO it will bounce around somewhere between $350-$700 for quite a while, and that is if it can keep meeting analysts expectations.

It's just a matter of time before ICE cars are impractical.

Onvacation says

It's just a matter of time before ICE cars are impractical.

Not sure about that, but if so, then all the legacy car makers are now also EV car makers and so they all are "just car makers" like they used to be when only ICE were around. With all the margin pressure etc. Also I think that modern diesel are superior to EVs but the governments are obviously bought off by the fake climate change globalists, so it will be hard for alternative engines (also hydrogen and others) to compete with EVs due to government meddling.

Patrick says

https://www.theepochtimes.com/mkt_breakingnews/inflation-surges-4-2-percent-annually-to-a-13-year-high-in-april_3812609.html?utm_source=patrick.net&utm_medium=patrick.net&utm_campaign=patrick.net

What will this do to the housing market?

If salaries go up, then housing prices will probably go up too.

But I'm not too sure about salaries going up.

Patrick says

If salaries go up, then housing prices will probably go up too.

But I'm not too sure about salaries going up.

If Biden kept paying for not working, employers have to bump up the pay to get workers.

clambo says

Teslas are overpriced commuter cars.
You need to blast the car AC in Florida 4 months of the year.
That’s going to reduce the car’s range.

AC doesn’t reduce range much at all. Now the heater sure does! I own a Honda Clarity Plug in hybrid. It’s a pretty solid car and I like I can use full EV for daily commute and the hybrid gas for longer drives. But driving it in EV is much more fun and smooth ride. The tiny hybrid engine has trouble if you let the battery run to zero.

I don’t drive much, so I only had to fill up my 7 gallon tank like 4 times this past year. That’s kinda awesome and charging overnight is so easy and convenient.

Driving my clarity has convinced me to buy an EV next vehicle. I just don’t go on that many long drives per year to warrant needing an ICE. And an EV with 250-300 mile range that charges 80% in 15 minutes is pretty standard now.

I like the Chevy Bolt.
I might buy one someday if I decide I have reached geezer status and don't like driving much.
In Florida electric rates are 1/3 those of California so it's very economical to drive.

Patrick says

If salaries go up, then housing prices will probably go up too.

I think that's called "wage push inflation", but I'm not sure. We had it in the 70's starting in 1974 when about every 18 months we'd get what was called a "blanket" raise where everyone in the company got about 8% or 9% increase to keep up with inflation. In 1976, I had a merit raise and a blanket raise come into effect on the same check and I thought, I'll never need a raise again. In three months a rent increase wiped it out. Employers have gotten wise, now, don't do many of those anymore.

NDrLoR says

Employers have gotten wise, now, don't do many of those anymore.

Yep, nowadays you pretty much need to jump ship for a raise.

https://m.theepochtimes.com/inflation-overtakes-ccp-virus-as-biggest-risk-for-investors-bank-of-america_3737610.html

Inflation is now investors most pressing concern.

FuckCCP89 says

Yep, nowadays you pretty much need to jump ship for a raise.

only avg, joes.
High performers at successful companies get high boni, RSU's and nice pay raises. That's what I got for last years performance plus work from home.
Have to admit, the company also had its best year in 2020 in its history.

FuckCCP89 says

Yep, nowadays you pretty much need to jump ship for a raise.

It's been that way for decades.

Will inflation stop any chance of bubbles popping? House being a hard asset will increase from inflation countering any bubble popping and same with stocks? Maybe at worse the decreases we were expecting will be countered and stay flat.

What are you guys putting your money into as a counter?

Blue says

Patrick says

If salaries go up, then housing prices will probably go up too.

But I'm not too sure about salaries going up.

If Biden kept paying for not working, employers have to bump up the pay to get workers.

And they are. $7,500 bonus to drive a non-CDL van (3 rows) for airport transfers in Chicagoland. No one wants to work. Employers are paying you just to apply.

Servers aren't coming back to restaurants. Low wage labor doesn't have to go back to work (for now) if they were laid off. No incentive to do so. Won't change until the extra UE benefits go away. Otherwise expect long waits where low wage service labor is required as things get somewhat back to normal. The demand will outpace the staff available at a lot of establishments.

Dems cause hyperinflation, gov debt goes down, pay goes up more taxes, properties go up more taxes, stocks go up more taxes. Seems lile what they are trying to do but it's a dangerous game.

This woman has some good insights:

https://www.lynalden.com/may-2021-newsletter/

... at the end of a long-term debt cycle, debt levels get so large relative to the size of the economy that it becomes impossible to deleverage them nominally without crashing the economy, so instead the denominators are increased: the monetary base, the broad money supply, and nominal GDP with a significant inflation component. The mechanism to do this involves large monetized fiscal deficits, accompanied by a central bank willing to hold rates well below the prevailing inflation rate for a while, which effectively inflates portions of the debt away.

The alternative to this process is a deflationary economic collapse, which is a route that the public and policymakers around the world rarely if ever choose. In other words, when push comes to shove and the system is pushed to its limits, policymakers invariably print.

https://www.statista.com/statistics/1032048/value-us-dollar-since-1640/

You can play the EV market by buying Magna International. They are already profitable and makes parts for the EV market. Kinda like, don't bet on a particular country in the war, just the company building the bombs.

Bitcoin says

High performers at successful companies get high boni, RSU's and nice pay raises.

You're a unicorn then. The owners don't pass on the inflation gains this early in the cycle. Hence why I'll never work for someone else again, besides the customer for a business I own. Done working for others and they get the fruits of my labor. The owners are just another hand in the cookie jar that do dick for the money they get besides the risk. So I've decided to become the owner.

WookieMan says

Bitcoin says

High performers at successful companies get high boni, RSU's and nice pay raises.

You're a unicorn then. The owners don't pass on the inflation gains this early in the cycle

Good for you to be the owner. Agree, I wouldnt give out 6-8% across the board in pay raises just because inflation is running at 5% if i am the owner.

What i am talking about is high paying jobs at companies like in tech (shareholder owned corp). A director on avg makes about 250k. Does that person care if inflation is running at 2, 3 or 5%? I'd say not really. If your perform well its expected the company pays a raise above inflation. not to everyone, but to those that are rated highly (annually). The avg raises barely keep up with inflation.

Obviously it makes sense to incentivize high performers. They are harder to find/hire.

https://www.theepochtimes.com/mkt_breakingnews/annual-inflation-soars-to-5-percent-in-biggest-jump-since-2008_3852981.html?utm_source=patrick.net&utm_medium=patrick.net&utm_campaign=patrick.net

Annual Inflation Soars to 5 Percent in Biggest Jump Since 2008
BY TOM OZIMEK June 10, 2021

Inflation took a fresh swipe at American consumers in May, with the consumer price index surging by 5 percent over the past year, the biggest annual spike in the measure since 2008.

Thanks, Joe!

If we get even a small amount of hyper inflation how does that work with fixed payments like pensions and social security? I would think pensions get fucked because they are locked to past income.

RC2006 says

If we get even a small amount of hyper inflation how does that work with fixed payments like pensions and social security? I would think pensions get fucked because they are locked to past income.

They are supposed to get COLA.

Patrick says

value-us-dollar-since-1640/

They didn't have to pay for car insurance or for dental checkups back in 1640. What we call the deeply impoverished in the inner cities of America would have a quality of healthcare and nutrition completely unavailable to even kings during the enlightenment.

No doubt we're fucked. We're all gonna die. But in the meantime we live in a land of milk and honey.

https://notthebee.com/article/ceo-of-grocery-chain-predicts-10-14-inflation-on-food-by-october-

Billionaire grocery CEO predicts 10-14% inflation on food by October 👀

Patrick says

Billionaire grocery CEO predicts 10-14% inflation on food by October 👀

jesus. My buddy who works in construction/landscape showed me some of his quotes. He gets materials below retail but his cost almost doubled on some items like drain pipes, fittings etc. Some of his subcontractors are backing out because they no longer make money on the original deal due to insane inflation.

https://www.westernjournal.com/bidens-america-american-wages-drop-nearly-2-inflation-spirals-control/?utm_source=patrick.net&utm_medium=patrick.net&utm_campaign=patrick.net

Biden's America: American Wages Drop by Nearly 2% as Inflation Spirals Out of Control

https://www.washingtonexaminer.com/opinion/editorials/voters-are-rightly-blaming-biden-for-inflation

HunterTits says

..because the government doesn't count food (nor rent nor gas/diesel) prices in their bullshit inflation statistics.

Are there other inflation metrics that do include these?

I can imagine them maybe doing something to reduce the impact of price volatility of certain things, like maybe averaging the price over some time window.

https://notthebee.com/article/completely-transitory-nothing-to-worry-about-inflation-forecast-for-the-fourth-quarter-more-than-doubled-by-white-house

https://nltimes.nl/2021/09/01/entrepreneurs-avoiding-negative-interest-opening-multiple-bank-accounts

WEDNESDAY, SEPTEMBER 1, 2021 - 10:00
SHARE THIS:
Entrepreneurs avoiding negative interest by opening multiple bank accounts
Smaller entrepreneurs in the Netherlands are trying to avoid negative interest on savings by opening new accounts with different banks, Financieele Dagblad reported after speaking to Dutch banks. Various banks introduced negative interest rates on larger savings accounts over the past year

At most banks, savings accounts with balances above 100 thousand euros are charged negative interest. This means the account holder pays interest on their savings, instead of earning interest. For someone with 200 thousand euros in the bank, this could mean paying 500 euros in interest at the end of the year. To prevent this, entrepreneurs are now spreading their money over different accounts at different banks.

Oh great, surging inflation and negative interest rates.

All are racing to the bottom.

Intermediate short term $USD demand may take a measure of insignificant inflation "down" .
The finality of this week could pull the rug out from under inflation for the short term we should see
this in Friday's economical data... At the same time Ida is going to need lots and lots of $USDs to even
start recovery considering the power outages, business closures, unemployment etc. etc. etc. etc. etc.