Price of Powder & Primers in Perspective

[Riesel]

I often wonder what the future holds. Those that are living paycheck to paycheck aren't able to put anything in their savings or retirement accounts and there will be no social security even though the government is still sucking up the FICA. I have talked to some nearing retirement age that told me they have 120K in their IRA and are still making morgue ................. payments. They made and/or make plenty of money but have no financial discipline. They and the younger crowd will have a rude awakening. Those that have maxed out their credit cards are really up a creek. The chaos will be enormous.

 

[rijndael]

I have talked to some nearing retirement age that told me they have 120K in their IRA and are still making morgue ................. payments. They made and/or make plenty of money but have no financial discipline. They and the younger crowd will have a rude awakening. Those that have maxed out their credit cards are really up a creek. The chaos will be enormous.

It's not all doom and gloom. My daughter worked a lot and saved all pretty well, she saved $25K before she turned 18.

 

[RED DIRT]

It's not all doom and gloom. My daughter worked a lot and saved all pretty well, she saved $25K before she turned 18.

That says what kind of parent you are. Thank you for that!

 

[Forum Boss]

People have asked about the source of the low Emergency funds finding (i.e. 50% of Americans have less than $500). The source is a survey referenced by MSN:

MSN

And apparently it's even worse for Gen Z and Millennials:

50% of Americans have less than $500 in emergency savings, according to the latest Prudential Pulse survey. Worse still, according to the survey, nearly 39% of both Millennials and Gen Z say they have no emergency savings whatsoever.

MSN Video Link: https://www.msn.com/en-xl/news/othe...-500-in-emergency-savings/vi-BB1nylN2#details

 

[Jayplace]

Labeled the cares act, signed by POTUS in March 2020

The CARES ACT was introduced in January of 2019 and later approved by both houses for approval. It didn't help me at all, but it helped keep the country going despite there being flaws.

 

[TRSR8]

View this content on Instagram

View this content on Instagram

Here’s a big part of the problem right here!

 

[FNSafari]

10% inflation--90% greed

I'm not so sure you are wrong!

$172.47 in May. 2024 equals $130 of buying power in 2014 (Average).

So a 130$ 8 lb jug of H4198 might cost $380 if we could get it. Yes I know everything isn't average but really!

Its gone up by 3X, if it was available, or possibly more if the distributor felt the could jam it a bit more.

 

[FNSafari]

It's not all doom and gloom. My daughter worked a lot and saved all pretty well, she saved $25K before she turned 18.

I have no doubt it can be done, BUT it requires discipline and living BELOW your means. I think that is an alien concept to many or they are totally ignorant of the idea. The government will bail me out and so far they have been correct.

 

[Jayplace]

People have asked about the source of the low Emergency funds finding (i.e. 50% of Americans have less than $500). The source is a survey referenced by MSN:

MSN

And apparently it's even worse for Gen Z and Millennials:



MSN Video Link: https://www.msn.com/en-xl/news/othe...-500-in-emergency-savings/vi-BB1nylN2#details

That $500 number has been tossed around for years so it isn't something new. I used to be one of them when I was younger, I'm old now, but secure.

I'd venture to say many have been there when starting out in life. Most start out with nothing and shortly buy a car, a house with furnishings and maybe kids. You're instantly in debt and making minimum payments. There's usually not much left over. With a little luck and some planning it gets better.

It seems everyone expects a big house, a boat, a new car and several vacations a year from the start.

Excuse me if I'm a little cynical, but too many expect to have what their parent have accumulated from the start, if not more.

 

[Murray Brook]

@Jayplace
Well said. To all the bleeding hearts that complain about our interest rates today I would like to know where they were when my generation was purchasing houses and what not 45 yrs ago and the rates were between 16 and 21 %.

 

[Just Say Moe]

The nation runs on diesel fuel. A concerted effort to destroy the petroleum industry without a cheap viable replacement is the fools errand and does nothing but increase the fuel price. The elites know this but do not care as they can afford it. The swamp is big.

 

[snert]

To me, inflaton is defined as "cost of goods increases, wage stagnates" . We can talk all day about $500 dollars in 2014 being the same as $900 in 2024, but if I am still making 2017 wages...well, Mr., THAT is inflation

 

[JFrank]

I was taught that inflation is not rising cost but a devalued dollar. I’m not so sure anymore

 

[Dgd6mm]

No one to blame but yourself in this life if you don't succeed. It's called choices, we all make them.

 

[Straightshooter1]

People have asked about the source of the low Emergency funds finding (i.e. 50% of Americans have less than $500). The source is a survey referenced by MSN:

MSN

And apparently it's even worse for Gen Z and Millennials:



MSN Video Link: https://www.msn.com/en-xl/news/othe...-500-in-emergency-savings/vi-BB1nylN2#details

Even so, with the Baby Boomer generation, we're in the throws of the largest transfer of wealth ever.

There's always been concerns over the younger generation as can be seen on an inscription on a 6,000 year old Egyptian tomb: "We live in a decaying age. Young people no longer respect their parents. They are rude and impatient. They frequently inhabit taverns and have no self-control".

Then you have ancient ongoing issue regarding the poor, like stated in Matthew 26:11.

Many things just don't really change over time.

 

[284winner]

Gas prices up closer to 100% higher than the end of 2020. Our grocery bill has doubled for the exact same groceries we buy every month in the last 3 years.

 

[urbanrifleman]

Gas prices up closer to 100% higher than the end of 2020. Our grocery bill has doubled for the exact same groceries we buy every month in the last 3 years.

Gas was a buck a gallon from 1980 to 2001.

 

[jackieschmidt]

One of the more unreported inflationary figures is the cost of doing business in the manufacturing industries.

At our Machine Shop, we have seen the cost of the bar stock that we use to make propellor shafts, rudder stocks, coupling blanks and not blanks from has gone up as much as 45% since Covid/Biden.
The cost of the stainless steel submerged arc welding wire we use has gone up on average 50% since Covid/Biden.
Tooling cost have gone up even more. So has the cost of insurance, labor, shipping, and just unlocking the doors and turning the lights on.

You rarely hear any news about this.

As for the old days, my wife and I bought our first “nice” house in 1976, we got a 9% VA Loan as considered ourselves lucky. We lived in that house for 47 years.

As for other interest rates, in 1982 we bought a new Cadillac Elderado and I can remember the salesman informing us of the great news, we could get GMAC financing at ONLY. 15%.

By the way, when we moved up to tomball 3 1/2 years ago, before everything went crazy, I got a VA loan for 3.2%.

 

[JFrank]

Gas was low towards the end of the Obama administration then went up under Trump and back down during Covid

 

[Shooter13]

During Covid when they paid people to stay home was the stupidest thing ever.

Where have you been?? They pay the welfare state to not work, most make more than my wife who works for a state contractor that helps them get money! By the time you count food stamps, free medical, tax refunds (yes you read that right), transportation money, repairs to their auto and much more (this didn't start during covid either). Democrats buying votes and rinos don't seem to care.