I used to be getting called out as a pessimist. Now more people are coming around to my view.The price you just paid will likely be a bargain by the end of the year. Grab your shorts. This is going to take YEARS to normalize, if it ever does. It got blown up in the late 70s, and took nearly a decade to see interest rates for home and car loans and such to drop to something sustainable in most places. Of course, I also whined a bit because banks started dropping interest rates on 12-month CDs to <9% as well.
On the flip side, I literally refinanced a car loan in the mid-80s because the rate drop about 1/2 way through the loan and saved HUNDREDS of dollars in interest charges. IIRC, the interest in a 4 year loan was going to be north of $2K over the course of the loan, which I believe was something around 14K originally. So yeah, you ain't see nothing yet. This time it seems it's going to be worse. I'm still waiting for the word to come down on when they start gas rationing again. Odd/Even plate days. Lines. Fights at the gas pumps. Oh, what a summer we will have.
Only this time around, it's more of a global market than it was in 1979. there's seemingly nobody in an economic advisor role right now that actually knows what to do, so they'll likely fumble this up. It's like taking your race car to Walmart for a tune-up. Yeah, they're technically mechanics, but they're likely a tad short on skills to get it done. The Fed should have been in front of this last year, but they buried their head in the sand. To fight inflation, they need to raise the prime interest rate to a hair above inflation rate to have any decent effect. We really need to slow down demand or it's just going to get worse. Supply chain shortages and labor shortages (which translates to lazy, working-age f****s not wanting to get a job- not every company has a "snowflake preservation zone", aka safespace) isn't helping. If any of that gets fixed, that will provide some relief, but Recession is coming and I truly believe stagflation is going to hit us pretty hard. Be prepared.
I'm not coming around to anyone else's views. I've always leaned to doing somewhat financially responsible things. Obviously not all things or I'd be living in a mansion in the Caribbean somewhere not giving a flip about anything but having someone bring me booze or laying on my private beach smoking something illegal that wasn't good for me.I used to be getting called out as a pessimist. Now more people are coming around to my view.
I have been looking at replacing the battery in Hurst its 15 years old still holds a charge and amps are fine but dont want take chance. The prices have gone up just like anything else.hello people: As with everything prices of things have gone nuts. I needed a bat. and I think the price went up like $50 from when I got one last. Kinda blows.
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