What are you doing to protect yourself against inflation?

[starleen2]

It’s them @#!**& speculators. It used to be that much of the companies’ profits went to the company – building it better, offering benefits for employees. But somewhere in the eighties it all turned around. Now it’s about stock prices and profitability. Now all the profits go to investors and little to the company. Speculators get into a frenzy to raise stock values for an instant gain – while doing no work at all and the little guys – the consumers - suffer.We have been spoon fed everything from corn being diverted ethanol, booming economy in China, Hurricanes in the gulf, war in Iraq – all I know is that in 2000 gas was about $1.00 gallon, gold was $438.00 an ounce, and so forth. Now I’ve been on this earth for awhile, long enough to know that something just isn’t right – what are we going to be told next why the economy is tanking- and who is going to benefit from that excuse. We try to use less and less and still the prices go up – at what point does supply and demand start to give a reduction – it doesn’t when you try to max out profit in an investment economy.

[BigDaddyChia]

I am just spending money like tommorow is the last day.

[satch]

Spending the kids college money on the tear, and telling them they have to go get a paper route

[Trackstriper]

Some food for thought about who pulls the strings. "The Money Masters....."

http://video.google.com/videoplay?docid=-515319560256183936

Just re-viewed this video on DVD version. Bare in mind that this video was produced in 1996 but it speaks about today in many ways. I'd be curious to know what our money watchers on the forum think.

[caseydog]

It does seem that way, doesn't it? But why are commodities like oil higher?

Mike...

The inflation we are seeing now seems to be more due to energy prices than excess currency.

First of all, oil was kept at an artificially low price for many years by OPEC to keep demand growing. It is kind of like pricing cocaine low at first, to get customers addicted, IMO. There were geo-political reasons, too, but the price of oil at 25-bucks a barrel was lower than the market would bear for a long time.

NOw, OPEC is going with the flow. Our consumption is up, China and India are emerging as major Oil consumers, and Oil supplies in many parts of the world have peaked. It's a seller's market, and the counties that have oil, can charge a lot for it. That is not likely to change.

The Oil futures market is a bunch of speculators playing a game, IMO. But, they make there money off the small raises and dips in prices that they create with their buying and selling. It looks like "money for nothing" to me, but I don't reckon they care what I think.

The speculators have some effect on price, but the underlying reason Oli prices are going up is because Oil consumption is going up, and Oil is a finite resource -- simple supply and demand.

In the long run, I can't see Oil price doing anything but go up. In the short run, I worry about something going seriously off the rails in the Middle East -- such as the small, but not impossible chance Bush will bomb Iran before he goes away next year. Something like that could trigger a sharp spike in Oil prices, and really mess up the economy. Of course, there is no shortage of potential catastrophes in the Middle East.

[caseydog]

Some food for thought about who pulls the strings. "The Money Masters....."

http://video.google.com/videoplay?docid=-515319560256183936

Just re-viewed this video on DVD version. Bare in mind that this video was produced in 1996 but it speaks about today in many ways. I'd be curious to know what our money watchers on the forum think.

I got through about ten minutes. All I heard was Doom and Gloom talk. I also looked at the Web Site for the video, and at the testimonials. You can tell a lot about a video from who recommends it.

We have some hard times coming, IMO, but I try not to go over the line into being led by fear. I just don't have much interest in doomsayers who tell me "Be afraid, be afraid."

Also, one of the very first things the narrator says is that we are working harder and harder, and have less to show for it. Well, wages have stagnated, but we (Americans as a whole - not everybody) are working harder and harder, and buying bigger houses, more luxurious cars, more "stuff" to fill our bigger houses with, and indulging in things like eating out more and more. It's not like we are working harder and harder to live like we did fifty years ago.

The banking system certainly has a role in what we are experiencing, but I don't think it alone is the problem.

CD

[Doberman]

Like Gage, No house payment, just did get Soc.Security disability approved, and get a 100% disabled V.A.check. We went off the deep end on Y2K and are still eating the stored food. Finally used up the supply of Charmin ultra soft for the tush. My timing is so screwed up, I sold all my gold coins when it was $350/oz when we got in a pinch, but still have silver up the kazoo. We don't run a credit card balance beyond 30 days. I have an 1100 gal.propane tank in the back and only buy propane in the summer once a year when it's cheapest. Starting to get more proficient etailing on ebay to build something that both of us can do together (and when I croak, my wife has a bus.without having to depend on a JOB).

[Gaston]

I figure the goverment caused it so they should pay for it
so every month I scan my SS check and cash it twice!
Other that that, If I got it I own it. Don't own no one nothing

[dwgriff1]

Retired, very tight budget.
No debts, house paid off.
House half under ground, very easy to heat and cool.
Big garden, along with berries and a small orchard.
Tear camping up to about 125 miles, then tent.
Own a full sized Dodge pickup, drive it when I need to haul or tow.
Otherwise a little 4 cyl Cavalier coupe.
Our health insurance is going up very fast.
When I visit our kids, all of whom make more than we do, I ask for a bit of help with gas, especially if I am going to do work for them.

dave

[Kurt (Indiana)]

I am in the same place as Gage is. Who me worry?

Me too but I'm still doing a little consulting work from a remote location (laptop from home or from the camp site). If things get too bad, I'll need to raise my price (or just put down more hours per job).

I'm intending to stay out of my real retirement account for at least five more years.

If inflation overcomes my finances, I'll need to dip into it earlier.

Just bought a new car (cash) and still some reserves left. My priorities have not yet been tested but I'm sure they will be soon. My official date is August 1, 2008 for full retirement.

Cross your fingers.

I still have a house payment so it will get better in time as that goes away.

If all of the "new" polititians BS comes true, why we'll all be sitting pretty. (Yeah right )

[Eunice]

so far I have done nothing. If the price of food and gas keep going up then I will have to make some major changes. I will have an errand list and only go to town once instead of 5 times a week. I have never worried about food before but I may get better at meal planning and quit the impulse buying. we will just have to wait and see.............since my new Jeep gets LOUSY mileage.

[billnut]

I'm going to keep the same old car (5) years old. The same old wife for (49) years
. They still work great!
But i'm looking for a upgrade for this tired old body.
Bill

[BPFox]

I'm trying to eat less ice cream and eat more salads. Every little bit helps. Oh, wait, you guys are talking about a different kind of inflation!