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Post by Jolly on Oct 21, 2021 0:10:47 GMT
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Post by fixitguy on Oct 21, 2021 0:31:25 GMT
Back in 07' I bought a commercial property in need of a lot of TLC. I got laid off from my job, and decided to open up shop in the commercial building.
I didn't take CC's back then, cash or check. I dang near starved to death from 08'-10', I would have customers come in to pay on Mondays or Fridays only. Many would ask for a estimate before hand.
Today it's much different, I take CC's. I would guess I swipe 50%, cash 40%, checks 10%.
A few weeks back, I did some work for a pretty good customer. He's a retired school teacher, very land rich (over 2000 acres on the Mississippi river bluffs). His wallet had 20 CC's in it, I'd bet. He handed me one, and said "I don't think I use this one" .......yep It was declined. He had enough in cash to pay thankfully.
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Post by blackfeather on Oct 24, 2021 15:16:32 GMT
Or the beginnings of a hyper-inflationary depression. My daughter keeps feeling that by next May she'll be poor either that or there is nothing to buy with the money she has. Her 6th sense tells her violent in 23, quiet in 24 with a different mood in the nation, we aren't the U.S. we used to be, and hungry in 25. We will see how accurate her feelings are.
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Post by Ozarks Tom on Oct 24, 2021 18:13:05 GMT
The true state of the economy is almost impossible to assess. The number given by the government are obviously flawed badly, and even the Shadowstats website which has the most accurate assessments isn't gathering enough data to forecast future developments.
We could be on an elevator ride upwards a few floors like the 70's, or on a rocket ship ride like Weimar Germany.
If the dems get their wish lists in the total $5 trillion bills it won't take long for that rocket to take off.
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Post by joebill on Nov 7, 2021 4:36:11 GMT
My only hope is that the mega-rich who keep the dems in power will revolt at the idea of having their cash turned into dust by the party in power.
Imagine, if you will, the Santa Fe Crowd selling off parts of their estates to buy food.
"Joey, NOT NICE to laugh at the Misery of others less fortunate"....Frieda
"Yeah, Ma"....Joe
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Post by laurazone5 on Nov 7, 2021 14:01:31 GMT
Or the beginnings of a hyper-inflationary depression. My daughter keeps feeling that by next May she'll be poor either that or there is nothing to buy with the money she has. Her 6th sense tells her violent in 23, quiet in 24 with a different mood in the nation, we aren't the U.S. we used to be, and hungry in 25. We will see how accurate her feelings are. Can you please explain hyper inflation to me as if I am 11 years old? This is killing me not understanding
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Post by joebill on Nov 7, 2021 14:25:57 GMT
One day, it takes a bread box full of cash to buy a loaf of bread. The next day, you need a wheelbarrow full of cash to buy a slice of bread. THEN it starts heating up and gets BAD!...Joe
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Post by sawmilljim on Nov 7, 2021 15:02:23 GMT
One day, it takes a bread box full of cash to buy a loaf of bread. The next day, you need a wheelbarrow full of cash to buy a slice of bread. THEN it starts heating up and gets BAD!...Joe I remember buying a used car that had half tank of gas for less than I filled my truck up |
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Post by Ozarks Tom on Nov 7, 2021 17:50:28 GMT
laurazone5 , The most basic explanation I can give is when a country's money supply has grown to the point where each individual dollar/pound/franc/etc is diminished in worth less when applied to normal purchases. Officially hyperinflation is inflation of more than 50% per month. Imagine a wheelbarrow full of money, where the wheelbarrow is worth more than the money.
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Post by blackfeather on Nov 7, 2021 18:34:22 GMT
In the Weimar Republic it got so bad people were being paid hourly, then they'd go outside the factory give the money to their wives who would run and spend it before it became worth much less the next hour they'd all get a pay raise and paid then out to their wives who'd go spend it and so on for the day. Another story was a lady who pulled out her life savings so she could buy a trolley ticket to see Berlin once more before she starved to death. These are extreme examples but consider that this week you buy a loaf of bread for 5 dollars and next week it is 10 and the week after it is 30 and by the end of the month it is 50 or 60 dollars. That is an example of hyper-inflation. As Ozarks Tom , says more than 50% a month is the official definition, the cost plus 1/2 for the next loaf of bread. Though once it gets going it can run rather high quickly.  |
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Post by Jolly on Nov 7, 2021 19:27:15 GMT
Or the beginnings of a hyper-inflationary depression. My daughter keeps feeling that by next May she'll be poor either that or there is nothing to buy with the money she has. Her 6th sense tells her violent in 23, quiet in 24 with a different mood in the nation, we aren't the U.S. we used to be, and hungry in 25. We will see how accurate her feelings are. Can you please explain hyper inflation to me as if I am 11 years old? This is killing me not understanding
An economy has to see an inflation rate of greater than 50% for at least a month before economists use the hyperinflation label. |
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Post by woolybear on Nov 7, 2021 21:16:08 GMT
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Post by fordy on Nov 8, 2021 3:35:24 GMT
Or the beginnings of a hyper-inflationary depression. My daughter keeps feeling that by next May she'll be poor either that or there is nothing to buy with the money she has. Her 6th sense tells her violent in 23, quiet in 24 with a different mood in the nation, we aren't the U.S. we used to be, and hungry in 25. We will see how accurate her feelings are. Can you please explain hyper inflation to me as if I am 11 years old? This is killing me not understanding
.................Hyper is ABOVE normal ! HYPO is below normal ! |
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