Inflation

[divs4ever]

and sleep wellat night

not me , so anything unconscionable will not make it worse ( and i am too cheap to take sleeping pills )

 

[Smurf1976]

Indeed. Inflation be stuffed, at least if you have a job you can pay the bills, for a while.

Trouble is, a point comes for most where the work stops. Either because they can't do it anymore or because they simply want to retire and live life before falling off their perch.

Let inflation run and that's the end of any such concept for most. It becomes work until you drop.

What we really need is a broader restructuring of the economy such that we can have employment and low inflation at the same time.

 

[farmerge]

Trouble is, a point comes for most where the work stops. Either because they can't do it anymore or because they simply want to retire and live life before falling off their perch.

Let inflation run and that's the end of any such concept for most. It becomes work until you drop.

What we really need is a broader restructuring of the economy such that we can have employment and low inflation at the same time.

Mr Smurf I have a couple of family members who "retired" in their early 50s. What for said I. Because we can afford to do so said they. Now because they are bored to the hilt, they come and annoy me, (still working), telling me how to do what I have been doing decades. So as far as I am concerned work will be a part of my way of life until I can no longer do the job properly. By then probably going gar-gar

 

[SirRumpole]

Trouble is, a point comes for most where the work stops. Either because they can't do it anymore or because they simply want to retire and live life before falling off their perch.

Let inflation run and that's the end of any such concept for most. It becomes work until you drop.

What we really need is a broader restructuring of the economy such that we can have employment and low inflation at the same time.

Exactly. We had such a thing in the 50s and 60s when resources were cheap and fuel, power and gas prices were not an issue and there was plenty of land to build houses for the expanding population. Well a lot of the land has gone so that issue has to be addressed and the fuel and power issues are hard to resolve.

Any restructure will be long and painful imo.

 

[divs4ever]

Any restructure will be long and painful imo.

i believe you are correct , but how long and how painful , is the difficult to known

 

[moXJO]

Mr Smurf I have a couple of family members who "retired" in their early 50s. What for said I. Because we can afford to do so said they. Now because they are bored to the hilt, they come and annoy me, (still working), telling me how to do what I have been doing decades. So as far as I am concerned work will be a part of my way of life until I can no longer do the job properly. By then probably going gar-gar

I've tried the retirement thing early and it bores me to tears. I need to be labouring a bit to stay fit and mentally sane.

 

[wayneL]

I've tried the retirement thing early and it bores me to tears. I need to be labouring a bit to stay fit and mentally sane.

I keep going so mrs doesn't shiv me in the liver

 

[farmerge]

I've tried the retirement thing early and it bores me to tears. I need to be labouring a bit to stay fit and mentally sane.

Seen a few retirees over the years. Stop working and then snuffed it. Really sad, If they kept at something physical and mentally active might have a few good years to go, ratherthan looking at the roof of a box.
Old dear departed Dad retired on a burnt out Army pension courtesy of WW11 at 59. Kept going until major health problems interrupted his life. Gave up working at 84.

 

[farmerge]

I keep going so mrs doesn't shiv me in the liver

Hey Wayne if I come inside before 5.30pm get asked what's wrong, nothing to do outside!!!!!!

 

[qldfrog]

Hey Wayne if I come inside before 5.30pm get asked what's wrong, nothing to do outside!!!!!!

There is retirement as watching tv and golf in a unit or suburban house, and there is retirement on 70 or soon 15 acres...
You keep active,have projects, freedom but yes less cash.no regret having stopped after COVID.
Why bother slugging it for the ATO, or even worse, for a boss?
Only one life...and work for money is trading life for cash.
I do help neighbours or put a slab on local hall but no interest for work as such as long as I can afford to.
PS I have not been on a cruise yet or bought a caravan ?

 

[qldfrog]

There is retirement as watching tv and golf in a unit or suburban house, and there is retirement on 70 or soon 15 acres...
You keep active,have projects, freedom but yes less cash.no regret having stopped after COVID.
Why bother slugging it for the ATO, or even worse, for a boss?
Only one life...and work for money is trading life for cash.
I do help neighbours or put a slab on local hall but no interest for work as such as long as I can afford to.
PS I have not been on a cruise yet or bought a caravan ?

Guilty but we should go back to thread..and the only link I could find is the fact I decline a contract a few weeks ago to help a major miner..not FMG...so lack of workforce..in any case would have been handing over ip to India..go and get sxxf.

 

[farmerge]

There is retirement as watching tv and golf in a unit or suburban house, and there is retirement on 70 or soon 15 acres...
You keep active,have projects, freedom but yes less cash.no regret having stopped after COVID.
Why bother slugging it for the ATO, or even worse, for a boss?
Only one life...and work for money is trading life for cash.
I do help neighbours or put a slab on local hall but no interest for work as such as long as I can afford to.
PS I have not been on a cruise yet or bought a caravan ?

Mr frog plenty to keep you physically and mentally active on acres Enjoy

 

[sptrawler]

I have found the extended family keep me busy, it is amazing how much work 1 wife, 4 kids and 8 grandkids can generate and how much damage kids can do.
Now I know why the old man was always taking his belt off to 60 years ago.

 

[mullokintyre]

Just getting back to the topic of inflation....
From Evil Murdoch Press

Hopes that soaring food and grocery prices were easing to relieve pressures on household budgets have been dashed after investment bank UBS warned food inflation reached a new peak of 9.6 per cent in April, as supply chain and labour pressures continue to cause pain at the checkout for shoppers.
Much of the pain is coming from fresh produce, with fresh food inflation spiking to 9.9 per cent in April, although that was slightly down from inflation of 10.1 per cent in March.

UBS analyst Shaun Cousins described the increasing rate of food inflation as a “surprise” and inconsistent with recent reports from heavyweights Woolworths and Coles of food prices coming down.

A surprise eh? Did it ever occur to him that Coles and Woolies were Bull$shitting?

UBS tracks more than 60,000 food and grocery prices to produce its ‘Price Tracker’ monitor and dispute supermarket sector reports that prices were coming back from recent inflationary spikes, the cost of a basket of items at the retailers hit a new peak in April.

News of the consistently high and stubborn food prices will place further pressures on households already battling other cost of living pressures such as rising mortgages and rents.

According to UBS food inflation, excluding tobacco, averaged 9.6 per cent in April, up from 9.4 per cent in March and 9.1 per cent for the third quarter.

In terms of the major supermarket chains, Coles is now ahead of Woolworths with Coles inflation up 10.5 per cent in April against 9.1 per cent in March, with Woolworths food inflation registering 8.7 per cent growth in April and 9.7 per cent in March.

In terms of the key supermarket categories, fresh food inflation was 9.9 per cent in April, down from 10.1 per cent in March but up against 8.9 per cent in February. Dry grocery inflation rose 9.4 per cent in April against 9 per cent in March.

“While monthly pricing data is volatile, especially fresh given supply variability, it is valuable given the current period of materially high food inflation. The increasing rate of food inflation is a surprise, and inconsistent with the declines reported by Coles and Woolworths in the third quarter,” said Mr Cousins.

He said the reason for the stubbornly high food and grocery inflation could stem from supply chain costs and labour costs.

The problem is, these higher food prices will flow through to restaurants and takeway joints, further felling inflation in these areas.
Talk of the peak in interest rate rise having been reached are a tad premature IMHO.
Mick

 

[mullokintyre]

Just getting back to the topic of inflation....
From Evil Murdoch Press

A surprise eh? Did it ever occur to him that Coles and Woolies were Bull$shitting?

The problem is, these higher food prices will flow through to restaurants and takeway joints, further felling inflation in these areas.
Talk of the peak in interest rate rise having been reached are a tad premature IMHO.
Mick

Just a bit more on the "BIg Grocery" scam.
I you look online wt Woolies "specials", lamb cutlets are advertised at $43.00 a kilo , mid loin chops are cheaper at $28.00 a kilo, lamb leg steaks ar at $29.63 a kilo.
If you then go look at the MLA trade Lamb price graph for the last 12 months , one can see from a high of 838 cents per kilo carcass weight back in June last year, we have come down this year to 638 last week.
Thats one hell of a markup.
Mick

 

[sptrawler]

The Govt getting a handle on companies outsourcing work, I wonder if it will apply to Government departments that do it? It should certainly give inflation another shot in the arm IMO.

BHP claims proposed labour-hire policy would cost company $1.3b a year

BHP says the proposal would drive up inflation and risk jobs but Workplace Relations Minister Tony Burke has hit back at BHP’s costings given the policy is not yet finalised.

www.smh.com.au

 

[greggles]

Just a bit more on the "BIg Grocery" scam.
I you look online wt Woolies "specials", lamb cutlets are advertised at $43.00 a kilo , mid loin chops are cheaper at $28.00 a kilo, lamb leg steaks ar at $29.63 a kilo.
If you then go look at the MLA trade Lamb price graph for the last 12 months , one can see from a high of 838 cents per kilo carcass weight back in June last year, we have come down this year to 638 last week.
Thats one hell of a markup.
Mick

View attachment 157199

The supermarkets are definitely hiking prices in a big way, but they are experts at obfuscation and smoke and mirrors. They jacked up the price of hundreds of products silently and when called on it blame an increase in supply chain and supplier costs. Then, as a psychological counter measure, they "freeze" the price of products that have already had price hikes to make it look like they are trying to keep prices down.

Anyone paying attention can see what is really going on. The price of Woolworths brand baked beans has spiked from 65c to $1.10 in recent months. This is just one example among many but is an example of how significant some of these price hikes are.

Give them as little of your business as possible. There are better options out there, especially when it comes to meat and fresh fruit and vegetables. Independent butchers and fruit and veg shops are often cheaper and help support the local economy.

 

[sptrawler]

Any of you with a HECS debt, now is the time to give it a hit.

Students have just nine days to pay uni debt before indexation kicks in

Time is running out for millions of university graduates to slash their HECS debts before they increase by 7 per cent.

www.abc.net.au

From the article:

On June 1, in nine days' time, $74 billion worth of HECS/HELP debt will go up by 7 per cent — an increase of more than $5 billion.

However, the budget papers put the hike at just $3.6 billion.

Kate Andersson completed an arts degree, a law degree, and a diploma in legal practice at the University of Queensland.

Her HECS/HELP is currently sitting at $67,000, and with indexation, that will jump by $4,700 to over $70,000.

 

[over9k]

Just so everyone know what the abc are saying

 

[sptrawler]

Just so everyone know what the abc are saying

Young bloke 77 rental houses that's the way to do it, negative gearing and big gonads.