Inflation hits home..

Yikes.. I knew it was coming, but this really hurts..

Talking to my supplier for converters this morning, ordering a new unit for a board member. Now I had been getting small price increases over the last year.. 10 bucks here, `5 bucks there... But now, my Vendor informs me that the price for my 9.5" converters had gone up just shy of $100...

New price for the converter is now $749... which is till far cheaper than the converter companies will sell this unit to you for, but still.. ouch, that hurts..

I hate raising prices.

So much for the $6XX.00 converters...

Just an FYI to you guys..

JW

 

If you have plans on flying this summer plan on an extra 10% for your air fare $100 .

 

Inflation is a conspiracy theory

 

…No, when things cost more than they did last month and last year, that’s inflation. $10/pound bacon isn’t a theory.
Patrick

 

Inflation is the natural result of devaluation of our currency. This started in the 70's when we dropped the gold standard, and turned the dollar into a fiat currency. No theory about it.

Current devaluation is due to the printing of money like crazy, backed by nothing but treasury bonds sold to foreign investors, to give it away to us for stimulus/Covid relief, and then to ship it all over the world for whatever problem/war is going on.

What part of broke/20 Trillion in debt don't these clowns in DC understand?

As of today, I am going to adopt the US Congress budget plan.. I have decided that money is no object... I will just print whatever I need off my trusty printer here.

Oh wait.. if I do that, then the Secret Service comes and arrests me.

So I guess I need to print some more paper (bonds) to justify it.. then I just have to get some sucker to buy these potentially worthless pieces of paper, with the fiat currency that I am producing more of.

JW

 

This is why Russia just moved to a gold backed currency. The private western central bank is collapsing.

 

ya, heard that for about 20 years now...

Russia moved back to the gold standard, because the ruble was worth virtually nothing,( down to .007 cents US per ruble) after all the banking/Credit card systems in the world sanctioned it. The switch back to the gold standard nearly double the ruble's value in a short time.

That's not a sign that the "western central bank" is collapsing, although unsound fiscal policy will devalue currencies enough over time, that the system will cease to function. If/when we lose the "petro dollar" to the Chinese Yen, that will accelerate the demise.

But most likely not in our lifetime.

JW

 

No Russia is now back to sound money and they are demanding that buyers of thier products pay them in sound currency. Pushing Russia off the swift system has backfired and they are stronger than ever financially.

Once China invades Taiwan things will change rapidly.

 

Yea converters have went thru the roof,...$1100 for a damn non lockup now

 

Prices on parts to be made have gone up 50% at a minimum. Ken and I are re-evaluating the cost structure of a few of the new products. Need to see if people are still interested in moving forward. Look for a new post soon in Kenny Betts Racing thread addressing some questions moving forward

 

Haha, but what isn't a conspiracy theory to you?

 

Yep, our converter company also raised the price of the racing converters $100. from last
fall. I don't blame him, his costs went up he has to pass it along, not in business for practice.

 

It's well over 30T at this point.

They are stealing from future generations.

 

Is it inflation when you start hearing things costing "double" nearly everyday?

 

That's called "Hyperinflation"..

JW

 

I'll buy that. As long as it doesn't double on me. Hyperinflation is a term I haven't heard in a while.

Unfortunately, it sounds like we are in it now:

https://www.forbes.com/sites/jamesonlopp/2022/03/06/how-to-prepare-for-hyperinflation/

If we are going to have hypersonic missles, we may as well have the inflation too.

 

I think the sarcasm might’ve went by a few people like a GS beating a hemi!

 

How is Russia "stronger than ever financially"? The Ruble is approximately back to its pre-invasion value of around 80 rubles to the dollar. When I was working in Russia in 2001 the exchange rate was around 33 rubles to the dollar.

 

I question whether Russia's economy is "stronger then ever." That might conceivably be a technically true statement, but Russia's economy sucks. Russia ranks 11th in world economies Behind France, Italy, Canada, and South Korea - all with a fraction of Russia's population. Russia also ranks behind New York, Texas, and California in it's GNP. Russia is essentially a third-world country with a first-world military.

 

Other than it has Nuc's I'm not sure it has a 1st world military. Sure has seemed inept in Ukraine.