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Wages are not keeping up with inflation.I think market is overacting on the CPI numbers. While inflation is high, the income also increased quite a lot. My friend's company is hiring an entry level sales assistant position and it was $15/hr pre-covid, now they need list $21/hr in order to be competitive. My local warehouse job was listed about $13/hr and now is $18+/hr. That's about 40% wage increase in 2 years. I don't feel people cutting back on spending, there still lots of people in malls and stores, the freeways around where I live are still packed during weekends. Tesla is still having huge backlog despite they increased price so much...
This isn't necessarily true. We actually have very little insight so far into exactly how inflation is actually hurting consumers. As @The Accountant pointed out, Core CPI paints a much different picture than top line print does. But my point is that things like EV's, remote work, online entertainment (that take the place of families going out for entertainment), etc... all have very real impacts on how much energy/gas sky high inflation actually effect consumers.Wages are not keeping up with inflation.
Higher food, energy and rents are a disaster for half of the worlds population. No way to spin this as positive.
We've been underinvesting in energy. Unforced error. Gas prices will go higher this summer as inventories decline despite depleting the SPR.
I know most on this board want higher fuel prices to hasten the transition. I know you think it's the right public policy for a better world. Now is a good time to see the consequences of that policy and compare to your expected benefits from slower AGW.
On a personal note, sold the 2000 Land Cruiser (loved that car) and got our second MX (love that car). Now an all electric family.
Me. But I would NOT recommend selling TSLA.Who the heck is Bob?
Inflation is probably much higher than that reported.This isn't necessarily true. We actually have very little insight so far into exactly how inflation is actually hurting consumers. As @The Accountant pointed out, Core CPI paints a much different picture than top line print does. But my point is that things like EV's, remote work, online entertainment (that take the place of families going out for entertainment), etc... all have very real impacts on how much energy/gas sky high inflation actually effect consumers.
If you're either a EV driver or a remote worker, your wage increases from wage inflation more than cover inflation that excludes direct energy/gas prices. That's why the Core CPI numbers is much more important and relative than the top line CPI number
As for the lower half of the population....at least in the US, it's been proven many times over that the group of the population under middle income, has hardly any actual impact on the economy. By far, middle income households and especially upper middle income households drive the economy. And these are the groups that have and continue to benefit from early/rapid EV adoption and/or remote work.
Much higher......for someInflation is probably much higher than that reported.
healthcare and tuition have reach absurd levels
Who the heck is Bob?
Deflating portfolios can certainly impact human behavior.Much higher......for some
Much lower........for others.
That's the point of my post. Inflation doesn't hit everyone the same. The comparisons to the 70's/80's and their inflation issues to today are a complete joke because the consumer/population/workforce is nothing like they were then.
The main point of my post is that the % of the population - upper middle class (the most important) and middle income could be in a situation where the primary causes of inflation is something that doesn't hit them nearly as hard because they're the group that has adopted EV's AND they're the group that has the options for remote work. With this group of the population, the wage growth from wage inflation has more than covered the other parts of inflation that does actually impact the group.
This is why I'm of the belief there will be no recession. This group drives the US economy and they have a lot of flexibility in their cost
I was going to post this earlier but refrained as maybe not relevant but now the main mans commented on it:
Maybe Tesla’s insurance should have a waiver that if you have sex in your car and pass on a STD to your partner Tesla insurance will not be paying anything out.
Seriously maybe with the way Musk gets publicity some of the rules may get changed.
hoping for a relief rally in TSLA
So much for a 20:1 split.