Not just too long ago, I could get water fluid washer for just $$1,99 at Walmart, advance auto and auto zone. The price would be higher at gas stations ( $3).
I needed to refill today and, yea — $5 plus tax for the blue ( regular ) one and $6 for the all season ( orange color ). At gas stations I should expect to pay $7 for regular and $8 for all season. This is just my guess for the gas stations as I don’t buy from the gas stations anymore.
Less “Inflation” and more “Price it for as much as you can get for it”.
A little tip if you want to save some money, for “Summer” fluids Google “Homemade window washing solutions”. Save your empty container, a gallon of tap water, a couple of drops of dishwashing liquid and whatever else you feel comfortable adding (I generally omit things like vinegar & alcohol) and you’ll save a couple of bucks, a trip to the store and an addition to the landfill.
Just be thankful you weren’t around during Nixon-Ford-Carter era when inflation was in double digits for years, a 10-12% car loan was normal. Mortgage at 8% was considered a bargain.
Bought my first home when Reagan was president. 12.875% interest - and we jumped at it before it went up again. 18% loans in that time frame were the highest I heard of.
To make it car related, my wife (we were not yet married) was buying a used car. Dealership finance officer tried to have her take out the loan at 25%. I told him we would let him know the next day, she got a loan from her bank at 13%. We took the check in, got the car. Finance officer was not happy.
And our first mortgage in 1983 was 17-3/8%. OTOH we got a great deal on the house. I discovered that the previous owners had been trying to sell for many months. I offered what they paid plus closing fees (I figured it out) and they took the offer. A few years later we got a new loan at about 12%, shortened the term to 15 years from 30 years, and still paid less per month.
We refinanced our first home 3 times. We refinanced our current home twice within 4 years after purchase. We ended up with a 2.75 15yr rate. Our payments were within $5 of the current mortgage, but we dropped 11 years off the mortgage saving us TENS OF THOUSANDS OF DOLLARS. All that’s in the past. No more mortgages and haven’t had a car loan in decades.
The headline alone tends to invalidate their premise, doesn’t it?
Greedflation caused more than half of last year’s inflation surge, study finds, as corporate profits remain at all-time highs.
The key word being “remain”.
How can prices continue to rise if profits “remain” at all time highs. Wouldn’t those profits have to continue to grow if they were feeding inflation? If profit margins are charted, even those would need to grow, not remain the same.
+1
In order to keep this automotive in nature, let’s focus for the time being on Chevron. Despite selling less gasoline, they managed to increase their profits and dividends to a great extent over the past couple of years.
How does that chart show the dividends have increased? Average seems about 4% or so historically and there is only one quarter reported for 2023 and 3 for 2022.
As for income and profit… Total revenue for 2021 was $156B, 2022 was $236B and 2023 was $197B, a $39B drop from 2022. EBITDA was $40B (40%) in 2021, $67B (28%) in 2022 and $48B (24%) in 2023. Chevron’s sales only show a drop between 2022 and 2023 while their profit margin is decreasing from 2021 to 2023 and their dividends from the streetinsider chart don’t show increasing dividends.
The stock’s price is up a whopping 300% since the worst of 2022 but CVX was down 50% during the worst of the pandemic.
Careful with your sources of information. I hear the doj is going to make arrests of Grocers for price gouging. Gotta ask yourself if they were so greedy why didn’t they do it five years ago?
The standard bank car loan was 11%. My last bank loan in 1981 was 18%. Two years later the rate had come down a bit, but that was my last loan from the bank. Gmac was 7.5 in 1986 and at some point the credit union was at 5%, then 3% after that. So I got spoiled. The rate makes a big big difference.
I was reading some comments on Reddit just awhile ago on water fluid washer price. The people on there claimed a container should last a year and opposers are roasting those claims, asking the people if they don’t drive their cars
It’s hilarious because how on earth can a container of water fluid washer last a year ? I have to wonder if these people actually drive their vehicles.
I go through a container every 2 months or some time I can stretch it to 3 months. I park my car outside and even worse under trees. I swear some people who comment on cars have no idea!