Here's a statement of the obvious: The opinions expressed here are those of the participants, not those of the Mutual Fund Observer. We cannot vouch for the accuracy or appropriateness of any of it, though we do encourage civility and good humor.
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Harris Poll - Public Perceptions About The Economy (May 2024)
(Krug) 'For those saying that Americans are righteously angry because the level of prices is up even though the rate of inflation has fallen, a history lesson:'
I don't like lattes or avocado toast. But I won't begrudge others enjoying these items. In the long run, it won't make much of a difference financially. It's far more important to keep fixed costs low and live within your means (especially regarding housing, autos, student loans, and credit card debt). Selecting a prudent spouse is also very important!
I don't like lattes or avocado toast. But I won't begrudge others enjoying these items. In the long run, it won't make much of a difference financially. It's far more important to keep fixed costs low and live within your means (especially regarding housing, autos, student loans, and credit card debt). Selecting a prudent spouse is also very important!
Quite right.
It's the whinging about discretionary items that can be tiresome.
OTOH, I look at the vehicles some average people are driving around in, and I wonder how they are managing the debt burden. It can't be easy.
Yeah, everybody in America works in a trade that requires them to haul a lot of stuff around when they aren't hauling trailers, boats, camping, and hunting gear on the weekends.
Nothing puzzles me more then when folks harp about the high cost of fuel / vehicles and than climb up into a high riding 4x4 with room for 10+ passengers. In varied driving conditions you’re looking at 15-20 mpg - half of what many 5-6 passenger sedans achieve. Nice if you can afford it. Not what I grew up thinking an “ordinary” car for the “average person” was. And if they have that much cargo to move around all the time they can’t be doing too poorly financially.
Maybe @Baseball_Fan could elaborate a little on what type of vehicle his “average person” drives or needs? My “average person” parents in the 50s and 60s bought second-hand vehicles. Both worked. Pa bought a nice ‘59 Edsel sometime in the mid 60s. That whole “average person” concept is a real mind blower.
I've been watching MSNBC & FOX today. We live in two totally different worlds. There can be no confusion on why the country is divided. It's nothing but us against them. It's on purpose because it makes people money. Tell me what you watch and I'll tell you how you feel on almost any hot topic subject. We are a product of our environment has never been so obvious.
" We live in two totally different worlds." "Tell me what you watch and I'll tell you how you feel on almost any hot topic" "The country is divided... It's on purpose because it makes people money."
Indeed. There, my friends, is the story of our country. Short and not so sweet.
We have been sold on hate, and US citizens keep buying. Blame the media, blame the political machines, but also blame people all too willing to be manipulated. FOX takes propaganda to an entirely new level, and folks just Hoover it down.
We have been sold on hate, and US citizens keep buying. Blame the media, blame the political machines, but also blame people all too willing to be manipulated. FOX takes propaganda to an entirely new level, and folks just Hoover it down.
If people fight amongst themselves, they'll be too busy to notice those in charge profiting nicely from the perpetual distraction that keeps 'em from thinking about their own plights. It's just bread-and-circuses on a more intimate level.
" We live in two totally different worlds." "Tell me what you watch and I'll tell you how you feel on almost any hot topic" "The country is divided... It's on purpose because it makes people money."
Indeed. There, my friends, is the story of our country. Short and not so sweet.
The saddest part is it’s artificially scripted by those who profit from such divisiondivisiveness. We’ve become puppets on a string.
Back to inflation a little bit: McDonalds cutting prices, Target cutting prices on 5000 items. I read today Walgreens is cutting prices on 1500 items. Mr/Ms consumer might be holding back a little so they need to cut prices back after raising them the last year or so. Will it continue? I'm currently in the market or thinking about a new car. I hope they come down too when I'm ready to pull the trigger.
I've been watching MSNBC & FOX today. We live in two totally different worlds. There can be no confusion on why the country is divided. It's nothing but us against them. It's on purpose because it makes people money. Tell me what you watch and I'll tell you how you feel on almost any hot topic subject. We are a product of our environment has never been so obvious.
I stopped watching network news after seeing Network way back in 1976. Never did buy cable.
I watch little of the idiot box. Bloomberg provides “background noise” most of the day. If you’re lucky you might hear a 5-minute interview of somebody who knows wtf they’re talking about. Bloomberg’s (I think excessive) political reporting is presently to the left. But what isn’t slanted?
News Nation tries to steer the middle. Liberal Chris Cuomo gives Bill O’Riley and other right leaning commentators air time. I think it’s a noble effort but doomed to fail because audiences crave what agrees with them. (And a lot of what News Nation airs is pure garbage.) One interesting note - highly capable Dan Abrams of News Nation, an attorney in his own right, recently interviewed his father, noted constitutional attorney Floyd Abrams. Very good interview.
I'm limited to Roku-available channels. The major networks, including news, give us a 10-minute tease which shuts off automatically. Crapola. Al Jazeera is unlimited. Lately, it's more and more difficult to watch the news. We are living in a mixed-up, crazy dystopian nut-house these days. Funny, if only it were not REAL.
My grown daughter hasn't watched the news for 10+ years. She is always saying she can't figure out why anyone does. Says it's mostly negative, why would you want that in your life.
Speaking of the “network news” … When did it transition to the evening weather report? I missed the change-over.
Apparently it’s easier and less expensive to gab about wind, rain, sun and hail then to delve into the wars in the Mid-East and Ukraine or the conflict in the China straits (not to mention the political mess in DC or the shortage of housing for low income Americans)
I became a NewsHour regular the week after 9/11 when the cable nets went full jingoism with thier CGI flags and what I saw as forced patriotism coloring everything. Then when they focused more on embeds and the made-for-tv specifics of military capabilities/equipment vs the Big Picture (eg, why it's hard to win in Afghanistan) I gave up completely on commercial US news. NewsHour is analytical, cordial, avoids sensationalism, and is not out to entertain, but inform.
The past year or so I've even stopped NewsHour most of the time b/c I tend to already know what's going on - unless I want some specific analysis on a given issue du jour.
For finance, I still prefer BBG over CNBC. I just wish their AppleTV app didn't waste 3/4 of the screen with BBG+ data/headlines/previews that make it hard to see the anchors/guests/charts they're putting up.
I am surprised at some of this proud reduced-information posturing. I have learned just an enormously helpful amount of American law and civics the last few years from watching, beyond PBS, MSNBC and CNN. I do miss Al-Jazeera, but perhaps if I poked around a bit more, or used Youtube, I could find it again.
>> I stopped watching network news after seeing Network way back in 1976.
I read puhlenty too, not to worry, more than I should. But when it comes to military slaughters, dangerous weather where family live, and all other real-time developments natural or manmade, I cannot do better with reading. I do know how to use the mute button.
Can you read a weather map? Or do you need someone standing in front of a green screen to explain it to you?
Your tax-payer dollars at work: https://www.weather.gov/ I read it daily, and the weather in Arizona is really boring.
I don't subscribe to cable, but it has been my experience at Holiday Inns that the Weather Channel has been somewhat less dystopian than the network world satirized by Paddy Chayefsky so many years ago. They seem to be on top of the weather too.
But if your appetite requires military slaughter, earthquakes, typhoons, and all the other forms of human misery delivered videographically, and immediately, stick to the networks baby. They'll dish out as much as your belly can take, or as much as they can get their hands on. And you will have the pleasure of viewing this some number of minutes before the rest of us.
(krug) The price of a Big Mac, in particular, is up 21 percent since 2019, not the 100 percent some are claiming. Over the same period average wages of nonsupervisory employees — that is, most workers — rose 28 percent:
Traveling recently I purchased 2 double burgers and a medium fries at MacDonalds for under $12.00. Included double pickles, which I think cost extra. Also included NYC’s 9.75 8.875% tax. Seemed quite reasonable considering everything.
Comments
'For those saying that Americans are righteously angry because the level of prices is up even though the rate of inflation has fallen, a history lesson:'
But I won't begrudge others enjoying these items.
In the long run, it won't make much of a difference financially.
It's far more important to keep fixed costs low and live within your means
(especially regarding housing, autos, student loans, and credit card debt).
Selecting a prudent spouse is also very important!
It's the whinging about discretionary items that can be tiresome.
OTOH, I look at the vehicles some average people are driving around in, and I wonder how they are managing the debt burden. It can't be easy.
1) Ford F-Series
2) Chevy Silverado
3) Ram Pickup
https://www.kbb.com/best-cars/top-10-25-best-selling-cars-trucks-suvs/
The December 2023 KBB average transaction price¹ for full-size pickup trucks was $66,511.
https://www.coxautoinc.com/wp-content/uploads/2024/01/December-2023-Kelley-Blue-Book-Average-Transaction-Price-tables.pdf
¹ excludes applied consumer incentives
Maybe @Baseball_Fan could elaborate a little on what type of vehicle his “average person” drives or needs? My “average person” parents in the 50s and 60s bought second-hand vehicles. Both worked. Pa bought a nice ‘59 Edsel sometime in the mid 60s. That whole “average person” concept is a real mind blower.
"Tell me what you watch and I'll tell you how you feel on almost any hot topic"
"The country is divided... It's on purpose because it makes people money."
Indeed. There, my friends, is the story of our country. Short and not so sweet.
divisiondivisiveness. We’ve become puppets on a string.News Nation tries to steer the middle. Liberal Chris Cuomo gives Bill O’Riley and other right leaning commentators air time. I think it’s a noble effort but doomed to fail because audiences crave what agrees with them. (And a lot of what News Nation airs is pure garbage.) One interesting note - highly capable Dan Abrams of News Nation, an attorney in his own right, recently interviewed his father, noted constitutional attorney Floyd Abrams. Very good interview.
Speaking of the “network news” … When did it transition to the evening weather report? I missed the change-over.
Apparently it’s easier and less expensive to gab about wind, rain, sun and hail then to delve into the wars in the Mid-East and Ukraine or the conflict in the China straits (not to mention the political mess in DC or the shortage of housing for low income Americans)
The past year or so I've even stopped NewsHour most of the time b/c I tend to already know what's going on - unless I want some specific analysis on a given issue du jour.
For finance, I still prefer BBG over CNBC. I just wish their AppleTV app didn't waste 3/4 of the screen with BBG+ data/headlines/previews that make it hard to see the anchors/guests/charts they're putting up.
>> I stopped watching network news after seeing Network way back in 1976.
I read puhlenty too, not to worry, more than I should. But when it comes to military slaughters, dangerous weather where family live, and all other real-time developments natural or manmade, I cannot do better with reading. I do know how to use the mute button.
Your tax-payer dollars at work: https://www.weather.gov/ I read it daily, and the weather in Arizona is really boring.
I don't subscribe to cable, but it has been my experience at Holiday Inns that the Weather Channel has been somewhat less dystopian than the network world satirized by Paddy Chayefsky so many years ago. They seem to be on top of the weather too.
But if your appetite requires military slaughter, earthquakes, typhoons, and all the other forms of human misery delivered videographically, and immediately, stick to the networks baby. They'll dish out as much as your belly can take, or as much as they can get their hands on. And you will have the pleasure of viewing this some number of minutes before the rest of us.
By all means, stay tuned.
The price of a Big Mac, in particular, is up 21 percent since 2019, not the 100 percent some are claiming. Over the same period average wages of nonsupervisory employees — that is, most workers — rose 28 percent:
and:
https://corporate.mcdonalds.com/corpmcd/our-stories/article/providing-meaningful-value-to-our-fans-with-a-side-of-facts.html
9.758.875% tax. Seemed quite reasonable considering everything.