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"Inflation is coming down"

OSU Beavers said:
Good news everyone, used car prices drop as dealer lots are full of repos from people who could not afford their payments.

More good news, new car prices are also down inspite of low rate manufacturers financing because people just don't have the money for a new car. Another win for Bidenomics.

Heck, people can't even afford cheap pizza!

www.investopedia.com

Domino's Stock Falls After Pizza Giant's Sales, Net Income Miss Estimates

The pizza-delivery giant reported second-quarter revenue that missed expectations, and pulled back expansion plans overseas.
www.investopedia.com www.investopedia.com
Click to expand...
Pizza Hut franchises are filing bankruptcy right and left. And yes, Pizza is probably the most affordable food for a modest to larger group. Look at the prices of Taco Bell vs TB of 1990...wild.
 
Interesting day, huh? I was listening to the radio last nite and the hourly news story was the Japan market dropped 10%, so I knew this morning would be interesting. So I decided to check on that alternate store of value: Bitcoin.

bit.jpg


"Bitcoin (BTC-USD) is having its worst week since the collapse of Sam Bankman Fried’s FTX cryptocurrency exchange in November 2022.

The world’s largest cryptocurrency fell 14.85% through the week ending Saturday, according to Yahoo Finance data, before resuming its decline by another 7% over the last 24 hours amid a larger correction across all markets.

The price of the digital asset also briefly tumbled below $50,000 to its lowest price since February. It has lost more than $13,000 in value over the last seven days.

Ether (ETH-USD), the second-largest cryptocurrency, is absorbing even heavier losses. It fell more than 15% for the same 24-hour period, briefly seeing its biggest single-day drop since late 2021."

finance.yahoo.com

Bitcoin is having its worst week since the fall of FTX

Bitcoin is having its worst week since the 2022 collapse of Sam Bankman Fried’s FTX cryptocurrency exchange amid a larger correction across all markets.
finance.yahoo.com finance.yahoo.com
 
“With oil prices plummeting due to new concerns over the U.S. economy after a poor jobs report, gasoline prices have seen downside in many states, with potential for more to join that trend this week as previous refinery disruptions in the Great Lakes region fade away and the restart process begins,” GasBuddy’s head of petroleum analysis, Patrick De Haan, wrote on Monday.​
​
Well, as prices collapse perhaps, we will see deflation...which is a double-edged sword. Oil prices remain in the 70s but it is clear demand is down and has been slowly going down even though petroleum storage indicates both gas and diesel are lessening by millions of barrels. Lower demand means lower economic activity. Truckers are now idled, consumers are pulling in their horns, and this is a worldwide situation.

China is not doing well. Russia has over-spent trying to defeat Ukraine. German output has fell. Euro energy costs are double that of the USA. Asia has slowed as orders for cheap goods have fell. OPEC is trying to cut production to keep prices from collapsing. In the US, the truck shortages are over and trucking companies are failing. Car sales have collapsed but car prices are insanely high yet. Companies like Ford ceased producing the cheapest autos and concentrated on making EVs. They failed. No one wants the EVs at the price point they are. Even Toyota has had to recall 100,000 vehicles and replace the entire engine. That cost will be enormous. Dealers of Ram trucks have a 500 days' supply of trucks in some models.

All this economic pain will play out one way or another... meanwhile the 35 trillion-dollar debt marches on without any relief is sight. This Damaclean sword hangs over the entire country. When will it fall and what are the consequences of debt default? Even an old codger like me may live long enough to see the results. I don't think it will be a good outcome.
 

How a $26 burger becomes $41 at California restaurants​

Charges include 'the cost of doing business' - which most diners would assume would be covered by the main price.

At the Black Cat, a jazz bar and lounge in the Tenderloin district, bosses there add a 20 percent service charge 'to ensure a living wage' and a 10 percent 'SF safety and benefit charge' to its bills - on top of the 8.63 percent sales tax.

It is made clear the service charge is not a tip. Adding the customary 20 percent tip, which bring the restaurant's $26 burger, served without extras such as fries, to $41.24.
 
Elliott said:
Interesting day, huh? I was listening to the radio last nite and the hourly news story was the Japan market dropped 10%, so I knew this morning would be interesting. So I decided to check on that alternate store of value: Bitcoin.

View attachment 89886


"Bitcoin (BTC-USD) is having its worst week since the collapse of Sam Bankman Fried’s FTX cryptocurrency exchange in November 2022.

The world’s largest cryptocurrency fell 14.85% through the week ending Saturday, according to Yahoo Finance data, before resuming its decline by another 7% over the last 24 hours amid a larger correction across all markets.

The price of the digital asset also briefly tumbled below $50,000 to its lowest price since February. It has lost more than $13,000 in value over the last seven days.

Ether (ETH-USD), the second-largest cryptocurrency, is absorbing even heavier losses. It fell more than 15% for the same 24-hour period, briefly seeing its biggest single-day drop since late 2021."

finance.yahoo.com

Bitcoin is having its worst week since the fall of FTX

Bitcoin is having its worst week since the 2022 collapse of Sam Bankman Fried’s FTX cryptocurrency exchange amid a larger correction across all markets.
finance.yahoo.com finance.yahoo.com
Click to expand...
Bitcoin is risky and junk.
Stop market went back up today. Everything's fine. US economy still doing well.
 
Fernando said:
Bitcoin is risky and junk.
Stop market went back up today. Everything's fine. US economy still doing well.
Click to expand...
Job growth is down, unemployment is up, home prices are up 4% over the record year 2023, buying power of the US dollar is down 3% over last year - but everything's just fine... keep moving along, folks.
 
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