Baron Creek

Happy Iced Tea Day!

  
By:  Baron Creek  •  Nonsense and Ramblings  •  one month ago  •  6 comments

Happy Iced Tea Day!
It's also national ball point pen day. As well as Black Cow, egg roll, herbs and spices.

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.

Energy

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.

Markets

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.

GDP forecasts…

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?

CPI

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.

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Baron Creek
1  author  Baron Creek    one month ago

Speaking of herbs and spices... I once had the opportunity to spend some time in merry olde England. Rarely do the Brits use the H when a word starts with H. The exception seems to be herb, which gets a 'ard H.

Is this one of those drive on different sides of road, racetracks going in different ways, etc? I would have said clockwise/counter-clockwise, but that prompted me to start down a whole different rabbit hole.

 
 
 
Ender
1.1  Ender  replied to  Baron Creek @1    one month ago

Gas stations went from full service, to a choice between full service or self service, to all self service.

The whole time trying to act like self service was a convenience.

 
 
 
Baron Creek
1.1.1  author  Baron Creek  replied to  Ender @1.1    one month ago

Gas station attendants cost money, so when the first one went with the option of full or self service and put a cheaper price on the self service. It didn't take long to do away with self service. 

We will always go with the cheaper option, whether it is a TV made in the USA or overseas.

 
 
 
Kavika
2  Kavika     one month ago

I always use fennel in my meat sauce for my world famous pasta.

The feds said today that the the interest rates will stay at 0 through 2022.

Oil companies, big and small are laying off tens of thousands.

And, as the co inventor of the Winnebagel and Frizza, I may author a cookbook soon.

The only downside to today is that my wife beat at canasta, again and again, and again.

 
 
 
Ender
3  Ender    one month ago

I don't get the markets. Store closings still going on, price gouging in food products, still have massive unemployment, stimulus money can only go so far, yet the markets keep rising...

 
 
 
Baron Creek
3.1  author  Baron Creek  replied to  Ender @3    one month ago

The FED pumped a lot of money into the system... total assets . Which a lot went into bond, bills and note purchases of which some can be counted as excess reserves in the banking system

In short, there is a lot of digital dollars floating around, that cannot be monetized. Therefore it must be used to digitally buy stuff, that "might" retain value and/or gain value. On Wall Street it is called investing, but I think in Las Vegas... it is called gambling.

In either case, the house wins.