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Gas Prices and Inflation (Split Thread)


Bubo
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6 minutes ago, richieb said:


Oh maan !? Just when I find an entertaining thread to read here you come to put out a potential fire. And right after sliding my LS in front of the Jubes to listen to a new to me King Crimson CD. Thanks a lot for harshin’ my mellow -  

Which KC CD?

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1 minute ago, dwilawyer said:

I thought you was in the hospital and I could get away with it.


I believe Diz is in the hospital after a “procedure”. 
Me - healthy as a horse but so disappointed - 

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Above was an attempt at rhetorical questions, but your input is respected.

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Well known there's a chip shortage. Read last week Taiwan may move some chip production to USA.

2 charts show how much the world depends on Taiwan for semiconductors (cnbc.com)

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14 hours ago, Fido said:

Great post. I am the op and I wasn’t thinking that sharing the email I got that Klipsch was announcing price increases would instantly become political and  upset so many of the members here. I have lost almost all interest in participating on the Klipsch forum. So many posts deleted but most were mean spirited and accused me of being an idiot with some ridiculous ulterior motives for making my original post.

Well, price increases lead us right into the economy, and with as polarized as we've become in the last few years, everything gets political real fast. It sucks. I saw a video of a horrible big rig accident and the very first comment was someone blaming it on a political party!!! We're all just a little jaded Fido, after someone got us all riled up.

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On 6/29/2021 at 6:40 PM, dwilawyer said:

Inflation didn't exist before the Ferderal Reserve? 

Not exactly what he said...(macro) inflation did not exist before corrupt government.

 

[EDIT: Political propaganda removed, we have enough trouble as it is]

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34 minutes ago, oldtimer said:

Inflation has happened many times throughout history, way before the USA was a thought in anyone's head.

That is true but irrelevant in dealing with any particular current spikes. People need to deal with the effects on their wallets in real time. Difficult to compare energy prices to a time before the US existed - people are concerned as they stand in front of the pump today.

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18 minutes ago, oldtimer said:

Sorry, since some were making generalized statements regarding historical inflation I thought the discussion had expanded beyond myopic.

I was just pointing out, in response to assertion that inflation was due to corruption being joined at the hip with the Fed, that there were periods without a Central Bank in the form of the federal reserve system (1913) or even a National Bank (the first existed from 1791 - 1811 and the 20 yr. charter expired, by one vote in the Senate and that wasn't even a Central bank)  where inflation could run rampant despite a "free market."

 

The biggest example you are all familar with was after the War of 1812 (25% annual inflation) which brought on the 2nd National Bank in a hurry - in what year?

 

It's pretty easy to keep the discussion non-political, even non-conspiracy. If you think the Fed is bad or evil, Milton's your man. 

 

If you want to know the historical aspects of it, free from political twists and conspiracy theories, that also incorporates how the media at the time dealt with the issue check this out:

 

Campbell, Stephen W. (2019). The Bank War and the Partisan Press: Newspapers, Financial Institutions, and the Post Office in Jacksonian America. (Fair warning, it will take a little effort to get through).

 

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1970 $0.36 1971 $0.36 1972 $0.36 1973 $0.39 1974 $0.53 1975 $0.57 1976 $0.59 1977 $0.62 1978 $0.63 1979 $0.86 1980 $1.19 1981 $1.31 1982 $1.22 1983 $1.16 1984 $1.13 1985 $1.12 1986 $0.86 1987 $0.90 1988 $0.90 1989 $1.00 1990 $1.15 1991 $1.14 1992 $1.13 1993 $1.11 1994 $1.11 1995 $1.15 1996 $1.23 1997 $1.23 1998 $1.06 1999 $1.17 2000 $1.51 2001 $1.46 2002 $1.36 2003 $1.59 2004 $1.88 2005 $2.30 2006 $2.59 2007 $2.80 2008 $3.27 2009 $2.35 2010 $2.79 2011 $3.53 2012 $3.64 2013 $3.53 2014 $3.37 2015 $2.45 2016 $2.14 2017 $2.52 2018 $2.75 What is the highest priced gas in history? The highest average gas price was $3.64 in 2012, which is 167% more expensive than a decade earlier. What year did gas go over one dollar? The average price of gas first went over $1 a gallon in 1980, when it went from $0.86 per gallon to $1.19 per gallon. When was the last time gas was under $2 a gallon? The last time the average price of gas was less than $2 was 15 years ago, in 2004. 

Gas Price History: List of Prices by Year (creditdonkey.com)

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Average Gas Prices in the U.S. Through History | TitleMax

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Potential energy tax hike could cause NY gas prices to spike

George Carlin was a wise man on many subjects.

 

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Just my ice cube at the tip of the inflation iceberg - hearing that fireworks prices are 30-40% higher this year with limited supplies, yesterday I hear this at our “kid” friendly display. One of the largest fireworks distributors in the area, in business for decades, said he had two containers at the west coast, $25K in each container. Waiting for shipping to the Midwest, no truck drivers, he was forced to pay 

THIRTY FIVE THOUSAND DOLLARS EACH CONTAINER to ship here. So do the math - $70K in shipping $50K of goods = inflation and shortages as many will not and cannot pay the extortion in order to ship. And to hear, no end for the the foreseeable future. Happy Fifth of July - 

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51 minutes ago, richieb said:

no truck drivers,

That does seem to be playing its part. Through all of April and half of May, with a crew, I dismantled and shipped 12 class 8 tractor trailer loads of factory equipment. Several of the other contractors were having a lot of trouble finding trucks. I had no problem in that the company I work for has its own truck and driver. I have no idea how much the 'shortage' is playing a part on prices of goods. 

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I remember when we bought Snicker's bars for a dime, plus a penny tax.  $0.11.  We're all still alive and kicking despite the fact prices have risen over 1500%.  I have a pretty strong feeling society will still be fine when those candy bars cost $3.00.  Inflation is just a means to get people off their arses, producing and/or investing.  

 

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On 6/9/2021 at 9:25 AM, Bubo said:

Filled up my car yesterday

Regular up from $2 now $3.45

Hi test aka super now at $4 Gal

 

Fuel cost effects every other price, since everything requires transport inc workers.

Inflation is just begining

Like a snowball rolling down hill, it will gather size and strength

 

 

Regular went from $1.90 to $2.69 here. I'm sure some of the cost increase is due to demand, after all it is Summer time. But at the roots, IMHO, it's political and can't be discussed. 

 

Last month while fishing near Rockport, TX  the gas stations ran out of diesel. I don't drive a diesel, but there were plenty of trucks there sheltered down waiting for the tankers to come. Lot's and lots of "Help Wanted" signs at a majority of the restaurants. Saw signs posting $12/hr. for servers and busboys/girls.

 

The mills in AR are reportedly firing back up, and lumber is supposed to come back down, but nobody's feeling it. It's had a major impact on housing construction. I have had many new clients from CA, WA and OR. They're flocking to Texas in droves. My wifes cousin is leaving Austin, so a realtor friend of her's posted an ad with no pictures. A CA woman offered her $60,000 over the market price, but wanted photos before committing. She sent the photo's the house is sold. Crazy.

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