Eyeopening Trip to Bass Pro Shop

[Captain Phil]

This reminds me of a joke I heard back in the seventies.  Some of you may not get it.

 

A man is dying of cancer, so he calls a company to have his body frozen in liquid nitrogen. He gives them instructions to thaw out his body when they find a cure.  Before he dies he transfers all his money to his broker and tells him his plan.  He dies a week later and they put him on ice.  In thirty years, they thaw him out.  When he wakes up, he runs down the hall and calls his broker on a pay phone (Google it).  The son of the broker answers the phone.  The son tells the man,  "You are in great shape.  We invested your money in stocks and they are now worth ten times more.  Then we invested your money in gold and that tripled. Finally, we bought real estate and you are now a multi millionaire.  "That's Great", the man says.  Before he could say anything else the phone operator cuts in and says  "Please deposit $16,570 for the next three minutes!"

[Darth-Baiter]

hahah..

great joke.

 

but prices have been going up forever.  as long as i have been alive.   i imagine a gallon of gas when my god-kids are middle aged will be $20 or so.  its nuts. 

[TnRiver46]

There is a way to bring prices down…… quit buying what they sell. Unfortunately that won’t happen because most folks have extra money, check the bait monkey page 

[AlabamaSpothunter]

19 minutes ago, TnRiver46 said:

There is a way to bring prices down…… quit buying what they sell. Unfortunately that won’t happen because most folks have extra money, check the bait monkey page 

Can a mod be banned for heresy, I have it on great authority that fishing tackle is one of the few things not impacted by inflation.   

 

What are you trying to do, sink Big Tackle, and put thousands of monkies on the streets ?

[Tennessee Boy]

1 minute ago, AlabamaSpothunter said:

What are you trying to do, sink Big Tackle, and put thousands of monkies on the streets ?

Who do you think is going to get paid to round up all the monkeys after they hit the streets?  ?

[AlabamaSpothunter]

2 minutes ago, Tennessee Boy said:

Who do you think is going to get paid to round up all the monkeys after they hit the streets?  ?

Bawahahahaha.....I didn't even think about that.  What a sneaky mastermind he is ?

[Captain Phil]

13 minutes ago, AlabamaSpothunter said:

Can a mod be banned for heresy, I have it on great authority that fishing tackle is one of the few things not impacted by inflation.

 

I did notice when I went to BPS that a bag of Zoom worms is still less than $5.  I guess they don't use chickens to make them?

 

[Deleted account]

20 minutes ago, Tennessee Boy said:

Who do you think is going to get paid to round up all the monkeys after they hit the streets?  ?

 

Unemployed welders?...

[Crappiebasser]

My grandfather always complained that the money he saved during his life wasn’t in todays dollars. He saved in the 50s, 60s, and 70s. By the time he retired in the 80s his 50s dollar didn’t buy a dollars worth of stuff.

 

[Captain Phil]

57 minutes ago, Crappiebasser said:

My grandfather always complained that the money he saved during his life wasn’t in todays dollars. He saved in the 50s, 60s, and 70s. By the time he retired in the 80s his 50s dollar didn’t buy a dollars worth of stuff.

 

 

This is why you must invest your savings in something that keeps up with inflation.  Stashing money in a mattress won't do the job anymore. 

[gim]

4 hours ago, Tennessee Boy said:

Those who think inflation is bad have not been around very long.  It was 7.01% in 2021 and has been dropping slowly.  It was 13.29% in 1978 and 12.52% in 1980 so it’s been a lot worse.

You're right and I fall into that demographic.  Was not around for those time periods you stated, so this is literally the worst period of inflation I've seen in my lifetime.

[Captain Phil]

17 minutes ago, gimruis said:

You're right and I fall into that demographic.  Was not around for those time periods you stated, so this is literally the worst period of inflation I've seen in my lifetime.

 

In the early 80s, my wife and I bought a home in South Florida.  We had excellent credit. The mortgage interest rate was 18%.  For a time, we had a negative amortization mortgage which meant we owed more after each payment we made.  Yes, things could get a lot worse.

[gim]

8 minutes ago, Captain Phil said:

In the early 80s, my wife and I bought a home in South Florida.  We had excellent credit. The mortgage interest rate was 18%. 

My parents bought their first house in the 1980's too and their interest rate in the Bay Area was about 15% if I remember correctly.

[MN Fisher]

13 minutes ago, gimruis said:

My parents bought their first house in the 1980's too and their interest rate in the Bay Area was about 15% if I remember correctly.

Wasn't much better here, man

I bought my place in 1986 - even with a VA loan, best interest I could get was 12.5%

 

Of course I re-financed soon as the rates dropped enough.

[slonezp]

On 4/9/2023 at 9:30 PM, TnRiver46 said:

That sounds much more on par with real life. The rumors I always hear are $80-$90/hour for welding, thank goodness I didn’t believe them and quit my job haha

Might be. $90 an hour may not be on the check but when you add bennies...Journeymen Pipefitters in Chicago are over $50 on the check and probably $80-90 for the package. The employer contributing $500 a week towards the employees 401K and a Cadillac insurance policy is not a bad deal. And that doesn't even include the pension.

[Woody B]

14 hours ago, Captain Phil said:

 

This is why you must invest your savings in something that keeps up with inflation.  Stashing money in a mattress won't do the job anymore. 

 

I hear you.  I don't have money stashed in a mattress but I won't invest much where it's at risk.   When I was younger I had a hunting/fishing friend who was a business manager for a big medical office.  He would tell me what to invest in and when to bail out of it.  In the summer of 2001 he told me to get everything somewhere it's was guaranteed.   He passed away in 2002.  I haven't any any money at risk since then.  I also haven't had returns to keep up with inflation.  I probably need to find a good financial guy or gal.  I'm 59.  I certainly don't want to lose a bunch of money now.  Over the past 40 years I've saved,  but not invested.   For the past 20 years I've saved 1/3 of my paycheck.  

[TnRiver46]

They sellz the boats because they can…….

[Captain Phil]

4 hours ago, Woody B said:

 

I hear you.  I don't have money stashed in a mattress but I won't invest much where it's at risk.   When I was younger I had a hunting/fishing friend who was a business manager for a big medical office.  He would tell me what to invest in and when to bail out of it.  In the summer of 2001 he told me to get everything somewhere it's was guaranteed.   He passed away in 2002.  I haven't any any money at risk since then.  I also haven't had returns to keep up with inflation.  I probably need to find a good financial guy or gal.  I'm 59.  I certainly don't want to lose a bunch of money now.  Over the past 40 years I've saved,  but not invested.   For the past 20 years I've saved 1/3 of my paycheck.  

 

A good investment plan is based on research, diversification and patience.  Diversification will protect your money over the long term.  Investing is not the same as short term trading.  The Internet provides more information today than the best investor had twenty years ago.  If investing is not your thing or you don't want to be bothered, hire a professional financial advisor.  Anyone can have a good retirement if they start saving early, avoid making mistakes, stay healthy and fish as much as you can!

[volzfan59]

I remember the inflation of the mid 70's well. My closest buddy lived down the lake a little bit from us. His mom and dad had an adjustable rate mortgage and their payments kept going up to the point that they were actually worried about having to sell, thankfully they didn't. I'm not saying that things were great at our house, but I'll say this, my mom and pop paid cash for everything and weren't sweating about as much as other's were. Money in the bank and zero debt equals a lot of peace of mind for me. But, as in all things, to each his own.

[Captain Phil]

1 hour ago, volzfan59 said:

I remember the inflation of the mid 70's well.

 

In the 70's I owned a business selling used office equipment.  My business was doing great as I was buying used equipment at bankruptcy auctions and reselling them to businesses looking to save money.  After I outfitted two banks with equipment, I bought a new car.   One day a friend came to my office and asked me why I bought a new car?  "Didn't I know there was a recession going on?"  I told him I didn't know what a recession was.  A recession is when your neighbor loses his job.  A depression is when you lose yours.

[TOXIC]

Wow.  A lot to consider in this post.  Yes, I’ve been alive for multiple inflation periods and for 34 years I closed banks.  I started in the Agriculture crisis of the 80’s, then the S&L crisis of the 90’s and finally the sub-prime crisis of the 2000’s.  Notice the correlation? It’s an economic business cycle and we are due for another correction. Times change but these cycles have held true.  You can’t artificially stimulate a market/economy, then stop the stimulus and not expect a huge market correction.  My problem is this…..First, you can’t trust a single statistic coming out of the government.  Unemployment, let’s not count those who quit looking for jobs, inflation, let’s not look at fuel and food as factors, it’s a joke.  Give me desired outcome and I can bend the numbers to support it.  Second, entry level or low skilled jobs were never meant to be sustainable careers.  You either moved up or moved on.  Where does it stop? Should the paperboy who rides his bike and throws papers get $25 an hour? Some politicians are lobbying for universal basic income.  That’s great, let’s pay everybody to do nothing.  Finally, I have no hate for CEO’s and upper level execs.  That’s because I have family members who are in or who have been in those positions.  Most have no idea what it takes to get to that level, maintain that level and the toll it takes on the rest of your life.  They earn every penny.  

[volzfan59]

13 minutes ago, TOXIC said:

Wow.  A lot to consider in this post.  Yes, I’ve been alive for multiple inflation periods and for 34 years I closed banks.  I started in the Agriculture crisis of the 80’s, then the S&L crisis of the 90’s and finally the sub-prime crisis of the 2000’s.  Notice the correlation? It’s an economic business cycle and we are due for another correction. Times change but these cycles have held true.  You can’t artificially stimulate a market/economy, then stop the stimulus and not expect a huge market correction.  My problem is this…..First, you can’t trust a single statistic coming out of the government.  Unemployment, let’s not count those who quit looking for jobs, inflation, let’s not look at fuel and food as factors, it’s a joke.  Give me desired outcome and I can bend the numbers to support it.  Second, entry level or low skilled jobs were never meant to be sustainable careers.  You either moved up or moved on.  Where does it stop? Should the paperboy who rides his bike and throws papers get $25 an hour? Some politicians are lobbying for universal basic income.  That’s great, let’s pay everybody to do nothing.  Finally, I have no hate for CEO’s and upper level execs.  That’s because I have family members who are in or who have been in those positions.  Most have no idea what it takes to get to that level, maintain that level and the toll it takes on the rest of your life.  They earn every penny.  

This!

[Eric 26]

1 hour ago, TOXIC said:

Wow.  A lot to consider in this post.  Yes, I’ve been alive for multiple inflation periods and for 34 years I closed banks.  I started in the Agriculture crisis of the 80’s, then the S&L crisis of the 90’s and finally the sub-prime crisis of the 2000’s.  Notice the correlation? It’s an economic business cycle and we are due for another correction. Times change but these cycles have held true.  You can’t artificially stimulate a market/economy, then stop the stimulus and not expect a huge market correction.  My problem is this…..First, you can’t trust a single statistic coming out of the government.  Unemployment, let’s not count those who quit looking for jobs, inflation, let’s not look at fuel and food as factors, it’s a joke.  Give me desired outcome and I can bend the numbers to support it.  Second, entry level or low skilled jobs were never meant to be sustainable careers.  You either moved up or moved on.  Where does it stop? Should the paperboy who rides his bike and throws papers get $25 an hour? Some politicians are lobbying for universal basic income.  That’s great, let’s pay everybody to do nothing.  Finally, I have no hate for CEO’s and upper level execs.  That’s because I have family members who are in or who have been in those positions.  Most have no idea what it takes to get to that level, maintain that level and the toll it takes on the rest of your life.  They earn every penny.  

 

49 minutes ago, volzfan59 said:

This!

This! X 2

[N Florida Mike]

On 4/9/2023 at 5:49 PM, Jig Man said:

Have you paid attention to the grocery bill.  We are spending $200 a week for 2 of us and we have our own beef.

We spent 700 for 6 of us. I’ve cut way back on my own eating just to save money…

[slonezp]

1 hour ago, N Florida Mike said:

We spent 700 for 6 of us. I’ve cut way back on my own eating just to save money…

Just start eating the children