Comletely OT, anyone trying to buy a car these days? HOLY S***!

[Woody Sound]

Talk about depressing futility.

[ThatRhythmMan]

Talk about depressing futility.

Well, the good news is you can buy a 5 year old one with 60,000 miles on it for the same price as the new one and get it today!

[ruger9]

Yup. In my case, I need a new pickup truck for work. I can't afford today's prices (which are almost DOUBLE what they were just before covid hit). From $28K to $52K. I can't afford it. So I had the frame repaired (about $2500 all-in), along with another $2K in various repairs... hope it gets me through another year or two.

It's patently absurd what has happened. Between the govt printing more money than EVER in 2020- 80% of the dollars in existence were printed in 2020 (hello, inflation!), there's the whole lack-of-computer-chips thing. But... there are plenty of suckers. A car dealership, instead of getting a shipment of 30 cars, gets 8. Those 8 are sold almost immediately, at the price-gouging prices. I guess it's like the "great toilet paper scare"? LOL

[AlsoRan]

It has been brutal. I have a couple of 21+ year old cars that I am trying to milk to the last drop.

I am hoping prices come down by years end, but I am fearful that this can only happen with a big economic downturn. I definitely don't want that!

The milk drops are starting to dry up, and I may have to just buy a lesser car than I had originally planned.

[Woody Sound]

We were in a horrific accident, wife ambo'd to hospital, completely not our fault, a texting jerk drove us off the road, our 1 yr wonderful car totalled. We've been in pt. After two months we had to settle for a lesser used car at more $ than the cost of the new one we had, or which would have been months wait for a new one. Big bummer. It's a mess. And we think the archtop market is a mess.

[wintermoon]

and I was thinking about dumping my 21 yr old Camry last year.
nope.

[wolflen]

how do you get people to WANT to pay $5 a gallon for gas..? charge em' 7 plus a gallon..! and thats before the Russia cut off..!

sad but true..here in los angeles some stations are posting 7+ a gallon..

my 14 yr old baby {94k) in great shape..(OCD about my cars) 32MPG hwy..22-9 city..will have to last a few more yrs ..

even used car rates are beyond my wallet strength ..

the good ol' days are gone..some may want to believe prices will come back down...any one remember 0.99.9 a gallon..?

[nevershouldhavesoldit]

Between the govt printing more money than EVER in 2020

Sorry, but that’s simply not true. Here are the production data for the Bureau of Engraving and Printing for the last several years.

[entresz]

I'm driving a 26 year old car, and just hoping to god I can squeeze a few more years out of it.

Fuel prices in Australia are now well over $2AUD per litre too. That's cheaper than Europe, but it's still horrifying.
And unlike the big cities in Australia, and many European cities, there is hardly any public transport here in Tasmania, so everyone relies on cars.

[sgcim]

and I was thinking about dumping my 21 yr old Camry last year.
nope.

I'm gonna be buried in my 2002 Honda Civic!

[ruger9]

Sorry, but that’s simply not true. Here are the production data for the Bureau of Engraving and Printing for the last several years.

I did qualify the statement: 80% of bills currently in existence were printed in 2020:

Here's just one link, but if you google, more info is out there

Since January 2020 the US has printed nearly 80% of all US dollars in existence. $4.0192 Trillion at the start of 2020, October 2021 $20.0831 Trillion – Investment Watch

[nevershouldhavesoldit]

I did qualify the statement: 80% of bills currently in existence were printed in 2020:

Here's just one link, but if you google, more info is out there

Since January 2020 the US has printed nearly 80% of all US dollars in existence. $4.0192 Trillion at the start of 2020, October 2021 $20.0831 Trillion – Investment Watch

The sources I’m reading show an entirely different set of numbers. Here’s the FederalReserve’s money printing order totals by year:

This summary from VisualCapitalist is consistent with the above, as is every referenced report I could find in the Google search you suggested:

“in the U.S. today, there’s about $14 trillion in total money supply (M2), of which physical currency makes up only about 11% of the total value.”

All of the sources for the above are cited on the webpages. I see no data source on the one you linked.

[ruger9]

The sources I’m reading show an entirely different set of numbers. Here’s the FederalReserve’s money printing order totals by year:

This summary from VisualCapitalist is consistent with the above, as is every referenced report I could find in the Google search you suggested:

“in the U.S. today, there’s about $14 trillion in total money supply (M2), of which physical currency makes up only about 11% of the total value.”

All of the sources for the above are cited on the webpages. I see no data source on the one you linked.

This is the source link in the source (website) I posted

M1 (M1SL) | FRED | St. Louis Fed


Here's another, this chart is all over the place. This link says "21% of all US dollars", not 80%... but you have to read the definition of the M1, because the previous source uses the M1 as it's benchmark, and the 2nd source must use something else. Just goes to show there's more than 1 way to present different data sets, and have them BOTH be right (or wrong, as the case may be)

https://www.flowbank.com/en/livewire...rinted-in-2020

[jim777]

and I was thinking about dumping my 21 yr old Camry last year.
nope.

I got rid of my '94 Camry wagon in '19 for one reason only - I was sick to death of looking at it and being in it :lol: It had 195K on it and was having a major repair every year, but honestly I needed a change of scenery.

[nevershouldhavesoldit]

This link says "21% of all US dollars", not 80%... but you have to read the definition of the M1, because the previous source uses the M1 as it's benchmark, and the 2nd source must use something else. Just goes to show there's more than 1 way to present different data sets, and have them BOTH be right (or wrong, as the case may be)

Just for information, neither the M1 nor the M2 is limited to printed money and both far exceed the total value of money in circulation. They both include the cash value of various bank and investment accounts, and the M2 includes all money market funds plus recorded CDs (certificates of deposit, not versions of Kind of Blue ):

“M1 money supply includes those monies that are very liquid such as cash, checkable (demand) deposits, and traveler's checks M2 money supply is less liquid in nature and includes M1 plus savings and time deposits, certificates of deposits, and money market funds.”

There’s probably an index that includes the cumulative market value of guitars too. But the idea that we printed unusual and irresponsibly huge amounts of cash in 2020 is simply wrong. It fuels the fires of contention among left, right, and others - and right now, we need unity and a focus on the real problems that threaten to engulf (and possibly to destroy) us all.

Stay safe!

[Doctor Jeff]

We have done so well on this forum as amateur foreign policy specialists, let's see how we do as economists!

Most of us, well many of us, were alive during the 70's when there was stagflation. I remember it as a particularly great and creative time. OK, except for the disco and leisure suits, but then that was harmless fun.

But the girls--OMG!

I digress. It's not just an American problem, it's a worldwide problem not just related to money supply issues (no matter what Milt Friedman said--nobody listens to him these days anyway, least of all Republicans). We will get through this. I only hope the people calling for the US to divest from Russian oil don't complain about gas prices. A guy can dream, can't he?

[mr. beaumont]

Was considering it.

Gonna wait.

[Doctor Jeff]

Back OT, I bought 3 cars in May--1 was a joint purchase with my son. I caught the price craziness before it crested. I got maximum trade-in on 2 cars, almost as much as I paid for them, which made up for having to pay almost MSRP. No ADMs.

The issue for cars though is supply, supply, supply. Every maker would like to sell more cars, if they could get them.

[nevershouldhavesoldit]

Most of us, well many of us, were alive during the 70's when there was stagflation. I remember it as a particularly great and creative time. OK, except for the disco and leisure suits, but then that was harmless fun.

But the girls--OMG!

We got our mortgage in 1979 and were thrilled that it was locked at 10 1/4%. Interest on some loans topped 20% before the madness cooled. But the girls were so great that I grabbed one in 1972 - she’s still great and we’re still together!

[Woody Sound]

We have done so well on this forum as amateur foreign policy specialists, let's see how we do as economists!

Most of us, well many of us, were alive during the 70's when there was stagflation. I remember it as a particularly great and creative time. OK, except for the disco and leisure suits

[Doctor Jeff]

Uh big fail. Nobody's hair looked like that in the 70's. And those shoes...not with that outfit.

Here was the 70's:

[Flat]

Ah, that plaid invokes memories that hurt so bad I have to laugh.

Credit where due though, at least cats like the Osmonds and Gibbs could hit harmony parts without Autotune.

Now if only we had an Autotune that worked on fashion miscues retroactively...

[BigDaddyLoveHandles]

My wife lucked out. Last year she junked her 15-year-old Honda Fit for a new EV, a Hyundai Kona EV. Now every time I complain about gasoline prices, she makes this face...

[nevershouldhavesoldit]

Credit where due though, at least cats like the Osmonds and Gibbs could hit harmony parts without Autotune.

I think the credit goes to those pants. They were so tight that each hole on the belt raised the pitch half a tone.

[citizenk74]

The Toyota in my driveway continues to get me to and from my multitudinous appointments. The Testarosa in my mind is tarped for the time being; its MPG is too costly to even dream about.