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Author Topic: So much for inflation being "transitory"  (Read 5870 times)

Hards Alumni

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Re: So much for inflation being "transitory"
« Reply #75 on: September 14, 2022, 04:06:20 PM »
#1 is no doubt true. #2 has been, but commodity prices topped out in June and the slowdown that interest rate hikes portends will bring them lower still. #3 is true, but again, hikes in interest rates will make the pool of potential buyers smaller. So (imo) one pushing prices lower, one having no effect and one supporting prices (but not to the extent that it had been). I think prices will pull back for the near and intermediate term.

Perhaps, but the last two years of extremely low inventory and lots of buyers still needs some time to reconcile.

4everwarriors

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Re: So much for inflation being "transitory"
« Reply #76 on: September 14, 2022, 06:49:27 PM »
Concerns about a potential railway strike?




For sure Mugster. Everything moves by truck and/or rail. Hold on to your run-a-way inflation tuckus, hey?
"Give 'Em Hell, Al"

Goose

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Re: So much for inflation being "transitory"
« Reply #77 on: September 14, 2022, 07:55:12 PM »
Muggs

A rail strike would cause serious issues. Anyone not concerned is delusional.

MuggsyB

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Re: So much for inflation being "transitory"
« Reply #78 on: September 14, 2022, 08:11:41 PM »
Muggs

A rail strike would cause serious issues. Anyone not concerned is delusional.

I think if it happens it will be a relatively short strike but I agree with you Goose.  As a side note how can I tell if someone is delusional, lying, or has been hoodwinked? 

Goose

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Re: So much for inflation being "transitory"
« Reply #79 on: September 14, 2022, 08:17:08 PM »
Muggs

Based on my internet communication, I am going with delusional, followed by lack of sense of reality.

MuggsyB

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Re: So much for inflation being "transitory"
« Reply #80 on: September 14, 2022, 08:22:51 PM »
Muggs

Based on my internet communication, I am going with delusional, followed by lack of sense of reality.

Fair enough.  Sometimes I can overanalyze stuff.  I am fortunate Goose and I assume you and most of the Scoopers are as well.  But there are truly many, many, people struggling right now.  We need to do better and leaving la-la land, and joining reality, would be my suggestion. 

jesmu84

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Re: So much for inflation being "transitory"
« Reply #81 on: September 14, 2022, 08:25:22 PM »
Concerns about a potential railway strike?

Solidarity with the workers

Hopefully the government does the right thing

jesmu84

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Re: So much for inflation being "transitory"
« Reply #82 on: September 14, 2022, 08:27:53 PM »
I think home prices will continue to rise, but more slowly.  With interest rates the highest they've been in a generation (think about that) that should slow the average buyer, and will continue to put upward pressure on 'starter homes'... since people will continue to look for 'deals'... especially for investment reasons.

So We have:
1.  Interest rates pushing prices downward
2.  Materials cost pushing prices upward
3.  Inventory pushing prices upward

The number one thing that a lot of people forget is the continued urbanization of the US population.  Single family homes can continue to be built, but they will continue to be built further and further from urban centers.  Which goes contrary to what people want. 

What does all of this mean?  Who can afford new housing in desirable places?  People with a ton of money who can subvert interest rates by paying cash.  Buy real estate in urban centers in cash and charge rent to people who want to live in those places but have been priced out of ownership by high prices and high interest rates.  With rental prices continuing to rise, they'll be perpetual renters spending 30-50% of their income on housing.  I've been saying this for a couple of years now, but we are well on the path to Neofuedalism.  Unless the US promotes legislation that stops investment firms from owning and renting homes, condos, and apartments in large numbers we will run  into the same problem that Canada has.

https://financialpost.com/real-estate/investors-own-nearly-a-third-of-homes-in-major-canadian-markets-2

Easier to keep the peons in line if they need 50% of their take home for rent. That plus tying health insurance to employment.

MuggsyB

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Re: So much for inflation being "transitory"
« Reply #83 on: September 14, 2022, 08:35:35 PM »
Solidarity with the workers

Hopefully the government does the right thing

Aren't there 12 unions or something involved?  Apparently Amtrak is canceling long distance trains in  Oakland on Fri.

Dickthedribbler

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Re: So much for inflation being "transitory"
« Reply #84 on: September 14, 2022, 09:55:01 PM »
Aren't there 12 unions or something involved?  Apparently Amtrak is canceling long distance trains in  Oakland on Fri.

Amtrak has cancelled many long distance routes the last couple of days. Empire Builder ( Chi--Seattle), Southwest Chief ( Chi--LA) and California Zephyr ( Chi--SF). They don't want a trainload of passengers stranded in the middle of nowhere at 12:01 am Friday when the strike would start.

Dickthedribbler

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Re: So much for inflation being "transitory"
« Reply #85 on: September 14, 2022, 10:55:44 PM »
Muggs

Based on my internet communication, I am going with delusional, followed by lack of sense of reality.

Whenever I find myself a little overwrought and beaten down by inflation, I quietly sing this little ditty to myself:

"Oh, I've seen fire and I've seen rain
I've seen lonely times when I could not
    Find a friend."

And everything is suddenly better.

MuggsyB

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Re: So much for inflation being "transitory"
« Reply #86 on: September 14, 2022, 11:03:49 PM »
Whenever I find myself a little overwrought and beaten down by inflation, I quietly sing this little ditty to myself:

"Oh, I've seen fire and I've seen rain
I've seen lonely times when I could not
    Find a friend."



And everything is suddenly better.

Isn't that song about suicide?  I had no idea James Taylor was still alive.
« Last Edit: September 14, 2022, 11:08:38 PM by MuggsyB »

4everwarriors

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Re: So much for inflation being "transitory"
« Reply #87 on: September 15, 2022, 03:44:05 AM »
Let's all bust out a little Kumbaya in unison as a show of support for the penguins who struggle mightily in the Amazon each and every day, aina?
"Give 'Em Hell, Al"

Sultan Sultanberger

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Re: So much for inflation being "transitory"
« Reply #88 on: September 15, 2022, 05:49:47 AM »
Strike averted. Glad the administration brokered a deal - at least in the short term.
“True patriotism hates injustice in its own land more than anywhere else.” - Clarence Darrow

muwarrior69

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Re: So much for inflation being "transitory"
« Reply #89 on: September 15, 2022, 05:52:36 AM »
Strike averted. Glad the administration brokered a deal - at least in the short term.

https://nypost.com/2022/09/15/biden-administration-says-tentative-deal-reached-to-avoid-national-rail-strike/

That is a good thing. A rail strike would have hurt a lot of people.

tower912

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Re: So much for inflation being "transitory"
« Reply #90 on: September 15, 2022, 06:18:11 AM »
It is a good thing.
Luke 6:45   ...A good man produces goodness from the good in his heart; an evil man produces evil out of his store of evil.   Each man speaks from his heart's abundance...

It is better to be fearless and cheerful than cheerless and fearful.

TSmith34

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Re: So much for inflation being "transitory"
« Reply #91 on: September 15, 2022, 06:57:15 AM »
Fret not lads, Dark Brandon is on the case.
Pooba of Biggot Buffons

jesmu84

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Re: So much for inflation being "transitory"
« Reply #92 on: September 15, 2022, 08:41:03 AM »
A bit more details here:

https://www.nytimes.com/2022/09/15/business/rail-strike.html

Here's the reason there was a proposed strike, primarily:

MuggsyB

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Re: So much for inflation being "transitory"
« Reply #93 on: September 15, 2022, 08:59:58 AM »
Definitely good news.

JWags85

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Re: So much for inflation being "transitory"
« Reply #94 on: September 15, 2022, 11:14:55 AM »
A bit more details here:

https://www.nytimes.com/2022/09/15/business/rail-strike.html

Here's the reason there was a proposed strike, primarily:

I wonder what the parameters are of that. Cause obviously that scenario is unquestionably BS.  But my BIL was an engineer for one of the major rail companies and his schedule was much like an oil rig worker.  He'd be on a week, off a week.  On 10 days off a week, or situations like that.

jesmu84

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Re: So much for inflation being "transitory"
« Reply #95 on: September 15, 2022, 11:23:05 AM »
I wonder what the parameters are of that. Cause obviously that scenario is unquestionably BS.  But my BIL was an engineer for one of the major rail companies and his schedule was much like an oil rig worker.  He'd be on a week, off a week.  On 10 days off a week, or situations like that.

Agreed. Obviously anyone can post what they want on social media.

There have been a few interviews of rail workers explaining the situation over the last couple days. I'll see if I can find any

lawdog77

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Re: So much for inflation being "transitory"
« Reply #96 on: September 15, 2022, 12:03:34 PM »
I wonder what the parameters are of that. Cause obviously that scenario is unquestionably BS.  But my BIL was an engineer for one of the major rail companies and his schedule was much like an oil rig worker.  He'd be on a week, off a week.  On 10 days off a week, or situations like that.
Yes, there are federal regulations for this:
train and engine service
Covered Service. Train or engine service refers to the actual assembling or operation of trains. Employees who perform this type of service commonly include locomotive engineers, firemen, conductors, trainmen, switchmen, switchtenders (unless their duties come under the provisions of section 3) and hostlers. With the passage of the 1976 amendments, both inside and outside hostlers are considered to be connected with the movement of trains. Previously, only outside hostlers were covered. Any other employee who is actually engaged in or connected with the movement of any train is also covered, regardless of his job title.

Limitations on Hours. The Act establishes two limitations on hours of service. First, no employee engaged in train or engine service may be required or permitted to work in excess of twelve consecutive hours. After working a full twelve consecutive hours, an employee must be given at least ten consecutive hours off duty before being permitted to return to work.

Second, no employee engaged in train or engine service may be required or permitted to continue on duty or go on duty unless he has had at least eight consecutive hours off duty within the preceding twenty-four hours. This latter limitation, when read in conjunction with the requirements with respect to computation of duty time (discussed below) results in several conclusions:

(1) When an employee's work tour is broken or interrupted by a valid period of interim release (4 hours or more at a designated terminal), he may return to duty for the balance of the total 12-hour work tour during a 24-hour period.

(2) After completing the 12 hours of broken duty, or at the end of the 24-hour period, whichever occurs first, the employee may not be required or permitted to continue on duty or to go on duty until he has had at least 8 consecutive hours off duty.

(3) The 24-hour period referred to in paragraphs 1 and 2 above shall begin upon the commencement of a work tour by the employee immediately after his having received a statutory off-duty period of 8 or 10 hours as appropriate.


jesmu84

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Re: So much for inflation being "transitory"
« Reply #97 on: September 15, 2022, 01:37:02 PM »
Is there any limitation on number of days in a row? Or how far out someone has to request a day off?


jesmu84

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Re: So much for inflation being "transitory"
« Reply #99 on: September 15, 2022, 05:12:24 PM »
Agreed. Obviously anyone can post what they want on social media.

There have been a few interviews of rail workers explaining the situation over the last couple days. I'll see if I can find any

Here's one: https://twitter.com/MorePerfectUS/status/1570086413923942407?t=B9mgqYMBfn69UkxL097R7w&s=19