Happy Iced Tea Day!
Grocery Shopping Back in the Day
Remember back when you went to the grocery store and the bag boy filled up the bags, placed them in the cart and then pushed the cart to your car and unloaded the items?
That is what I was thinking as I sat in my car, in pajamas, and watched him place the items in my vehicle.
When the grocery stores instituted this, they called it innovative. Not sure how much of the system can really be considered innovative. Not complaining, just reminiscing.
Still mystified by crude prices and the excuses given. The weakening dollar accounts for roughly 6% of the ramp up in crude prices. But production is still outpacing demand. In the U.S., the total crude and crude products + SPR has set a record for the 2 nd week in a row. After an initial rebound from the bottom on gasoline consumption, it has flattened the curve the past two weeks, down about 28% from normal. That seems to be the pattern of other product lines.
They keep rising and the only explanation seems to be the greater fool theory. Clearly, I must be past my expiration date, as a lot of things are not making sense… and have not for quite a while. I could be wrong until I am right… or maybe right until I am wrong.
We have likely hit bottom, but still a long way to go up. Best guess currently is around -30% annualized, with some improvement likely by end of month. The issue will be when the free money stops flowing at end of the month and impact going forward. Can the improvements from now until the end of the month be sustained?
This is the release . I’ve previously mentioned my concerns with the report during this dramatic shift in consumer habits. But I adjust monthly, so I will stick with my spending habits, and this resulted in +0.18% increase from April and +2.1% from May 2019.
By comparison, the CPI-U, CPI-W and C-CPI-U were unchanged from April before seasonal adjustments. Annually before seasonal adjustments, the CPI-U was up +0.1%, while the CPI-W was down -0.1% and the C-CPI-U was down -0.2%. (The CPI-W is the benchmark for C.O.L.A.) As it stands right now, my expenses are rising at +2.1% and income will be flat. That will kick the Medicare Part B premium down the road as well, for those of us already on Medicare. However, “down the road” does not look promising… if and/or when there is another C.O.L.A.