I am not all that good at math, but if I remember right, 8% would meant that if something cost a dollar before inflation hit, we would now be paying $1.08, right? Or if something cost a dollar and now is is two dollars, that would be 100%, right? So now that my grocery bill each week has pretty much doubled, in spite of me being more careful and refusing to buy some of the most expensive items, it would be logical to conclude that the inflation rate is a heck of a lot more than 8%.
Lets take a look at some of the most common and essential items. Eggs went from around a dollar a dozen to almost five dollars. and if that is 8% maybe i just don't understand the new math. Last week a box of Cheerios was up to $6.00 and a bag of potato chips, five dollars. Meat is out of sight and I only buy hamburger and not a lot of that. I love sea food so I checked out the deli, but not for long. Smoked Salmon $17.99 a pound. I did not walk away from there, I RAN !! And of course, we all know about energy cost and a mere 8% increase would be very welcome.
And then the geniuses in D.C. raise the interest rate to "combat inflation." Anyone with an ounce of common sense knows that interest on a loan is a cost of doing business and will of course, add to the cost of everything. Does anyone else remember the inflation and high interest rates of the late 1970's? Bankruptcy lawyers were very busy in those days.
A giant step in the right direction would be for our "leaders" to be honest with us and tell the t***h about inflation that affects us common folks. But I guess it's just wishful thinking when i use the words leader and honest in the same sentence.
Leader and honest in the same sentence with bribem would be blasphemy
Leader & honest: NEITHER is in the current admin. They could care less about the American people; too concerned with given i******s right to v**e & citizenship & trying to indict Trump for the umpteenth year. BUT steeples still v**e democrat. Our great republic is slowly being destroyed & many cannot see it.
David L wrote:
I am not all that good at math, but if I remember right, 8% would meant that if something cost a dollar before inflation hit, we would now be paying $1.08, right? Or if something cost a dollar and now is is two dollars, that would be 100%, right? So now that my grocery bill each week has pretty much doubled, in spite of me being more careful and refusing to buy some of the most expensive items, it would be logical to conclude that the inflation rate is a heck of a lot more than 8%.
Lets take a look at some of the most common and essential items. Eggs went from around a dollar a dozen to almost five dollars. and if that is 8% maybe i just don't understand the new math. Last week a box of Cheerios was up to $6.00 and a bag of potato chips, five dollars. Meat is out of sight and I only buy hamburger and not a lot of that. I love sea food so I checked out the deli, but not for long. Smoked Salmon $17.99 a pound. I did not walk away from there, I RAN !! And of course, we all know about energy cost and a mere 8% increase would be very welcome.
And then the geniuses in D.C. raise the interest rate to "combat inflation." Anyone with an ounce of common sense knows that interest on a loan is a cost of doing business and will of course, add to the cost of everything. Does anyone else remember the inflation and high interest rates of the late 1970's? Bankruptcy lawyers were very busy in those days.
A giant step in the right direction would be for our "leaders" to be honest with us and tell the t***h about inflation that affects us common folks. But I guess it's just wishful thinking when i use the words leader and honest in the same sentence.
I am not all that good at math, but if I remember ... (
show quote)
The problem is that inflation is rising by 7 to 8 percent EACH MONTH. So, if we start in January with eggs costing $1, in February they will be $1.08. In March they will be $1.17. In April, they will be $1.26, and so on. By December the same eggs will cost you $2.33.
Of course, the longer this goes on, the worse it gets. Also, the 8% is an average, so it will vary with the product in question.
My wife and I are very frugal with our home eating budget, and pretty much eat the same menu each week, for various reasons. During the four years of Trump, I budgeted $70 per week for food for the two of us. The occasional eating out was budgeted under entertainment. Last week, I spent almost $300 to buy exactly the same food stuff for exactly the same menu we have been following for a decade or more.
So even though inflation called at 8%/month does not sound horrendous, the real world increase of over 200% is devastating. My wife and I are out almost $800 per month JUST ON FOOD BOUGHT AT THE GROCERY STORE. And it will continue to get worse each month. By mid 2023, if it keeps up, we will be paying $600/week for a basic healthy diet.
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