When will the prices drop?

goldrod
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When will the prices drop?

Post by goldrod » Wed Nov 17, 2021 6:27 am

Man the cost of stuff is high and getting higher.
I’m talking just everyday essential things like rods line lures. (Lol)
But seriously not talking politics

I’m just saying the cost of things is getting a little crazy.
And the shortage of this or that ie, workers , computer chips , shipping, fuel
as an excuse for the high prices is making me numb. So to resolve my current rant ( my daughter has been accepted to college and I’m not sure why it’s so high ) I think I’m going to take off tomorrow and go fishing.
When my wife ask me, why I fish so much now. I can honestly say because it numbs the pain. 😂
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a1712
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Re: When will the prices drop?

Post by a1712 » Wed Nov 17, 2021 10:06 am

Amen. I own a small Pub and our claim to fame is having exceptional chicken wings, won the HD Wing Wars People's Choice Award 5 years straight. I'm going to pay $58,000 more for my raw wings this year over last and coming off a State shutdown of a year and a half it's not good. But yes, fishing does ease the pain. Brian.
Are you fishing or aimlessly casting around?

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Re: When will the prices drop?

Post by Slazmo » Wed Nov 17, 2021 12:26 pm

The company I work for sells Minn Kota's... They ordered 100 and would be lucky to receive 10, this stock shortage amongst many others throughout the last near 2 years.

Makes for many angry customers and in turn disappointed staff that are at the forefront of that angry...

I think after all this blows over (or blows up the way we're going), we may be stuck with higher than normal prices, worldwide.

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Re: When will the prices drop?

Post by Drakestar » Wed Nov 17, 2021 5:28 pm

The prices will stabilize (but possibly not drop) when the supply chain is fully restored. Inflation happens (among other things) when there is a shortage of goods and affluent parties want items badly enough to pay more than the previously established price. While there's a supply shortage, that dynamic will continue.

It's actual free market capitalism, where supply and demand determine the price of all goods. Tricky situation for any government to address: do you exert government control over pricing? You're anti-free market, anti-business and anti-capitalism (plus, you could trigger a recession). Do you leave it unchecked? You're accused of not looking out for your citizens.

The best-established strategy for fighting inflation would be a contractionary monetary policy: raise interest rates to take money out of circulation. In other words: create an environment in which people borrow less money and want to spend less money, which controls demand and thus reigns in inflation. But that's a tricky proposition right now when folks have been struggling to afford things, anyway. Squeezing them more, and making it harder to buy things won't be popular. Just like inflation isn't.

Not happy about things, either. We had a car declared a total loss last year and received an insurance payout at the then-market rate. Now that we actually want to buy that same car (used), prices have risen by 30+%.
Last edited by Drakestar on Thu Nov 18, 2021 9:59 am, edited 1 time in total.

goldrod
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Re: When will the prices drop?

Post by goldrod » Wed Nov 17, 2021 7:38 pm

Drakestar wrote:
Wed Nov 17, 2021 5:28 pm
The prices will stabilize (but possibly not drop) when the supply chain is fully restored. Inflation happens among other situations when there is a shortage of goods and affluent parties want items badly enough to pay more than the previously established price. While there's a supply shortage, that dynamic will continue.

It's actual free market capitalism, where supply and demand determine the price of all goods. Tricky situation for any government to address: do you exert government control over pricing? You're anti-free market, anti-business and anti-capitalism (plus, you could trigger a recession). Do you leave it unchecked? You're accused of not looking out for your citizens.

The best-established strategy for fighting inflation would be a contractionary monetary policy: raise interest rates to take money out of circulation. In other words: create an environment in which people borrow less money and want to spend less money, which controls demand and thus reigns in inflation. But that's a tricky proposition right now when folks have been struggling to afford things, anyway. Squeezing them more, and making it harder to buy things won't be popular. Just like inflation isn't.

Not happy about things, either. We had a car declared a total loss last year and received an insurance payout at the then-market rate. Now that we actually want to buy that same car (used), prices have risen by 30+%.

I heard in passing , not the full conversation but what was said is the amount of debt that Americans are in right now is ridiculous and getting worse.
I can’t go in the bank without being asked to open a pre approved credit card.
It’s like debt is a drug and the government ( bank 🤔 maybe??) is the dealer
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Re: When will the prices drop?

Post by ss30378 » Thu Nov 18, 2021 7:24 am

All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.

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Re: When will the prices drop?

Post by toddmc » Thu Nov 18, 2021 9:20 am

ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.

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Re: When will the prices drop?

Post by goldrod » Thu Nov 18, 2021 10:18 am

toddmc wrote:
Thu Nov 18, 2021 9:20 am
ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.

Concerning minimum wage
I don’t know how a person is expected to make a living. I’m of the view point that as far as minimum wage is concerned a lot of companies have been getting over. You can’t effectively buy a house and raise a family on minimum wage even if you somehow worked two minimum wage jobs. I saw it as an eye opener and the nation should do better. I’m not saying hand out money I’m just saying let’s set realistic expectations. Maybe I’m off base and maybe those jobs exist at said pay for a reason.
For by him were all things created, that are in heaven, and that are in earth, visible and invisible

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Re: When will the prices drop?

Post by ss30378 » Thu Nov 18, 2021 10:48 am

toddmc wrote:
Thu Nov 18, 2021 9:20 am
ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.
Per simple google search:

"there is no historical precedence for a fiat currency that has succeeded in holding its value. Twenty per cent failed through hyperinflation, 21% were destroyed by war, 12% destroyed by independence, 24% were monetarily reformed, and 23% are still in circulation approaching one of the other outcomes."

and

"Fiat currency has reigned in the last forty years, but every fiat currency that has existed in history has eventually failed. The two longest-surviving currencies are the British Pound and the US Dollar, both of which have lost the vast majority of their original value."

The British pound has lost 99.5% of its value the US dollar has lost 96% of its value.

And here's some recent (last century) currencies that failed.
Germany Weimer Republic 1922-1923.
Hungary 1945-1946
Chile 1971-1981
Argentina 1975-1992
Peru 1988-1991
Angola 1991 – 1999
Yugoslavia 1992-1995
Belarus 1994-2002

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Re: When will the prices drop?

Post by toddmc » Thu Nov 18, 2021 12:00 pm

ss30378 wrote:
Thu Nov 18, 2021 10:48 am
toddmc wrote:
Thu Nov 18, 2021 9:20 am
ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.
Per simple google search:

"there is no historical precedence for a fiat currency that has succeeded in holding its value. Twenty per cent failed through hyperinflation, 21% were destroyed by war, 12% destroyed by independence, 24% were monetarily reformed, and 23% are still in circulation approaching one of the other outcomes."

and

"Fiat currency has reigned in the last forty years, but every fiat currency that has existed in history has eventually failed. The two longest-surviving currencies are the British Pound and the US Dollar, both of which have lost the vast majority of their original value."

The British pound has lost 99.5% of its value the US dollar has lost 96% of its value.

And here's some recent (last century) currencies that failed.
Germany Weimer Republic 1922-1923.
Hungary 1945-1946
Chile 1971-1981
Argentina 1975-1992
Peru 1988-1991
Angola 1991 – 1999
Yugoslavia 1992-1995
Belarus 1994-2002
A lot of the world's governments use fiat money. and have been doing so for a long time over the last 40 years in history. This list that you provided is a list of a few countries that were mostly dictatorships that failed largely because of other bigger reasons rather than abusing a fiat system. Just because you use a fiat currency doesn't mean it has to fail. Yes, we are abusing our fiat money currently, and it will fail if we are not more responsible. Commodity money (gold, silver) experiences value differences also because it is bidded up and down on markets. Just look at them over the last few years. There is not enough precious metal in the world that is easily available to supply our money circulation needs.

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Re: When will the prices drop?

Post by goldrod » Thu Nov 18, 2021 12:14 pm

I want a reel made from a precious metal.
No pun intended
I think that would be cool
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Re: When will the prices drop?

Post by toddmc » Thu Nov 18, 2021 12:40 pm

goldrod wrote:
Thu Nov 18, 2021 10:18 am
toddmc wrote:
Thu Nov 18, 2021 9:20 am
ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.

Concerning minimum wage
I don’t know how a person is expected to make a living. I’m of the view point that as far as minimum wage is concerned a lot of companies have been getting over. You can’t effectively buy a house and raise a family on minimum wage even if you somehow worked two minimum wage jobs. I saw it as an eye opener and the nation should do better. I’m not saying hand out money I’m just saying let’s set realistic expectations. Maybe I’m off base and maybe those jobs exist at said pay for a reason.
You do want everyone to get a fair wage, but all jobs are not supposed to be a living wage. Does a babysitter or someone that is just a warm body sitting on duty deserve a living wage? You should get paid what your skills and energy level demand in the market according to economics. Our government is messing with this way too much already.

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Re: When will the prices drop?

Post by goldrod » Thu Nov 18, 2021 12:42 pm

toddmc wrote:
Thu Nov 18, 2021 12:40 pm
goldrod wrote:
Thu Nov 18, 2021 10:18 am
toddmc wrote:
Thu Nov 18, 2021 9:20 am
ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.

Concerning minimum wage
I don’t know how a person is expected to make a living. I’m of the view point that as far as minimum wage is concerned a lot of companies have been getting over. You can’t effectively buy a house and raise a family on minimum wage even if you somehow worked two minimum wage jobs. I saw it as an eye opener and the nation should do better. I’m not saying hand out money I’m just saying let’s set realistic expectations. Maybe I’m off base and maybe those jobs exist at said pay for a reason.
You do want everyone to get a fair wage, but all jobs are not supposed to be a living wage. Does a babysitter or someone that is just a warm body sitting on duty deserve a living wage? You should get paid what your skills and energy level demand in the market according to economics. Our government is messing with this way too much already.

So how does one live on a non living wage?
For by him were all things created, that are in heaven, and that are in earth, visible and invisible

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Re: When will the prices drop?

Post by toddmc » Thu Nov 18, 2021 1:25 pm

goldrod wrote:
Thu Nov 18, 2021 12:42 pm
toddmc wrote:
Thu Nov 18, 2021 12:40 pm
goldrod wrote:
Thu Nov 18, 2021 10:18 am
toddmc wrote:
Thu Nov 18, 2021 9:20 am
ss30378 wrote:
Thu Nov 18, 2021 7:24 am
All fiat currencies in history have eventually lost 100% of their value. The dollar is no different.
This is completely untrue. We have only been off of the gold standard since 1971. Please provide us with a list of countries where currencies that are not backed by gold or something similar have lost 100% of their value.

Back to the topic, prices will most likely drop when the government stops raising the minimum wage, stops subsidizing workers, and a higher percentage of the work force here and around the world becomes productive making the things that you demand goldrod. Simple supply and demand tells us that prices will stay high if demand is greater than supply.

Concerning minimum wage
I don’t know how a person is expected to make a living. I’m of the view point that as far as minimum wage is concerned a lot of companies have been getting over. You can’t effectively buy a house and raise a family on minimum wage even if you somehow worked two minimum wage jobs. I saw it as an eye opener and the nation should do better. I’m not saying hand out money I’m just saying let’s set realistic expectations. Maybe I’m off base and maybe those jobs exist at said pay for a reason.
You do want everyone to get a fair wage, but all jobs are not supposed to be a living wage. Does a babysitter or someone that is just a warm body sitting on duty deserve a living wage? You should get paid what your skills and energy level demand in the market according to economics. Our government is messing with this way too much already.


So how does one live on a non living wage?
With help (subsidies) from the government and help from friends and family.

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Re: When will the prices drop?

Post by Drakestar » Thu Nov 18, 2021 2:51 pm

goldrod wrote:
Thu Nov 18, 2021 12:14 pm
I want a reel made from a precious metal.
No pun intended
I think that would be cool
Isn't your rod already made out of gold? :)

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