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Hyperinflation starting? What's happening in your area? Post your ground reports.

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MTF

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For those of you with cars that are now way up in price - are you thinking of selling?

I am tempted to offload what I have and just free as much cash up as possible for any incoming deals on property.
I thought about selling my truck which could get me $10k before taxes.

I didn't because I thought there's a good chance I'd give that money back and more to some sharky car dealer with low inventory when I buy to replace.

I got the car as a lease when dealers were desperate for sales during the beginning of the lockdowns so I managed to lock down a great residual.

I recently bought the car without a dealership involved too so I was able to avoid the dealer marking up that transaction by thousands of dollars as I've heard happen to others doing lease buyouts during this time.

But the risk/reward for me wasn't worth selling at this time.
 

msufan

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Petrol just hit $2.50 a litre in my hometown in Australia.
Gobsmacked.
$2.50 x 3.785ish liters per gallon = $9.46+ per gallon for us Americans. Yikes!
 
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thechosen1

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Have a feeling a black swan event is going to come if this continues.
Everyone will call it a black swan, despite being totally predictable.

It's like watching a ship sink in slow motion, or a plane fall in slow motion.

Good news is, it's likely just another cycle. It will happen again and again. But the part that isn't a cycle is the continuous march upwards towards things getting more expensive while buying power lessens...
 

Timmy C

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Suggests that real inflation is more like 15-19%, which IMO, is more reflective of the reality on the ground. Every price increase I encounter is not 6%, it's 15-20%.


Real inflation isn't measured by Food, water, petrol/gas, fuel, or housing is it...
The criminals will remove them from the CPI calculation and include other junk to say:
''oh look inflation is only 5%!''

I am seeing at minimum about a 15% increase across the stuff that matters in Australia.
 

JordanK

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Irish inflation reached 9.6% in June - Eurostat

It's hotting up even more. Looks like we're in for a crazy winter in Europe. I saw a post about how all the wood burners are sold out in Germany already. People are preparing for shortages in energy especially gas. Putin will have maximum leverage come October time to cut Europe off.
 
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YanC

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Putin will have maximum leverage come October time to cut Europe off.
I can't believe how utterly stupid european bureaucrats are with their freaking sanctions seriously. Putin has never made more money with his oil than now, selling it to India and friends (and rightfully so). He could unplug Europe tomorrow if he wanted. No energy means EVERYTHING stops. Total madness.

On top of this, until now we were paying our energy with worthless euros the ECB was printing in its basement, now we have to somehow find dollars to buy it elsewhere, against which the euro lost 15% in the last year. Absolute geniuses.
 
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JordanK

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This is my very uneducated opinion and I'd love if anyone else has more facts and figures to argue in favour or against this. Should the US and Europe be ending fossil fuel sanctions on Russia, Iran and Venezuela. Surely it would be more advantageous to flood the market with more supply. Even if those regimes generate a windfall from these fossil fuels they will still be falling behind overall in every other area of their economies. Fossil fuels are on the way out, within 5-10 years the utter reliance on these producer countries will be gone anyways.
 

jdm667

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I can't believe how utterly stupid european bureaucrats are with their freaking sanctions seriously. Putin has never made more money with his oil than now, selling it to India and friends (and rightfully so). He could unplug Europe tomorrow if he wanted. No energy means EVERYTHING stops. Total madness.

On top of this, until now we were paying our energy with worthless euros the ECB was printing in its basement, now we have to somehow find dollars to buy it elsewhere, against which the euro lost 15% in the last year. Absolute geniuses.
Well, sometimes pointless virtue signalling costs money in the real world. But I'm sure European leaders have a plan to keep people warm this winter - can't wait to hear all about it. :thumbsdown:
 
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thechosen1

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This is my very uneducated opinion and I'd love if anyone else has more facts and figures to argue in favour or against this. Should the US and Europe be ending fossil fuel sanctions on Russia, Iran and Venezuela. Surely it would be more advantageous to flood the market with more supply. Even if those regimes generate a windfall from these fossil fuels they will still be falling behind overall in every other area of their economies. Fossil fuels are on the way out, within 5-10 years the utter reliance on these producer countries will be gone anyways.
Reagan did this in the 80's - actually, his head of the CIA got with the Saudis and convinced them to flood the oil market - destroying the Soviet Union. Pretty genius.
 

MitchC

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I thought India had high price(1.40$ a litre) but damn thats almost twice.
New Zealand has been over $3 for months, it was $1.60 in Australia and $3 there for a while. I was laughing at all my mates in New Zealand sending them the prices here, now we’ve voted Australia’s joe Biden in and now it’s $2.20. I knew they were waiting till after the election. Not so funny anymore. Interest rates going up too.
 
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Timmy C

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New Zealand has been over $3 for months, it was $1.60 in Australia and $3 there for a while. I was laughing at all my mates in New Zealand sending them the prices here, now we’ve voted Australia’s joe Biden in and now it’s $2.20. I knew they were waiting till after the election. Not so funny anymore. Interest rates going up too.


It ranges from $2.10 - $2.50 a litre around my area in Melbourne.

$3 EOY?
 

Aditya Gunjal

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New Zealand has been over $3 for months, it was $1.60 in Australia and $3 there for a while. I was laughing at all my mates in New Zealand sending them the prices here, now we’ve voted Australia’s joe Biden in and now it’s $2.20. I knew they were waiting till after the election. Not so funny anymore. Interest rates going up too.
Yeah, they wait till their shit(election) gets done and then start their real shitshow. "Flags may be different but methods are the same". Our government is no different.
Our government wants to push EV as much as possible thats why this rapid inflation in price is occurring.
Besides do you really think heavy industrialisation and rapid growth of automobile industry can somehow empty the earths fossil fuel tank in just 100 or 200 years, cause i dont. They say fuel will end in just about 40 to 50 years from now if we use it at the rate we are using. And EV's are really not affordable to everyone (at least quality EVs).
Yeah and interest rates are also increasing on house loan and all.
 

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