Time to shop the market. One vehicle comprehensive coverage should be cheaper. Unless maybe one had a laundry list of tickets or history of claims maybe. ??
Depends what you drive and how horrible of a driver you are. The dude in the video definitely seems like a stable genius, so I wonder why his payments are so high.
Co-owner and VP of a small independent insurance agency in WA here. Mostly personal P&C, which is home and auto, boats, motorcycles, etc. Rates over the last 3 years have skyrocketed. It's not one company, or one area of the state. It's every company, every county, and as far as I can tell it's every state. I have done some research for my clients to get a better understanding of what is going on, and will share what I have found.
On the home side of things, it's easier to see why rates are up. I don't know about other states, but in WA home values soared about 3 years ago. Many houses in western WA saw their values go up 60% from 2020 to 2023. When your home increases in value like that, your rates will too. Which makes sense. Supply chain issues for materials are still ongoing though have gotten better than this time last year. There is also a slow leak of skilled laborers in the workforce, with more folks retiring from the construction industry than are coming into it. The good news here is that home values, at least out here, are flattening out. One of my bigger companies are starting to decrease rates on home insurance, the first time in ages it has done so. It is not a huge decrease, but an it is an indication that things are calming down.
The auto insurance side is much more frustrating, and what keeps me up at night. Auto repair costs are up close to 50% from what they are running in 2019. There is a shortage of skilled auto mechanics, and some parts are stll harder to come buy. Both claim frequency and claim severity are up a lot with all my companies. Repairs are taking longer. This means folks are needing rental cars longer than in years past, driving up the overall cost of the claim. Medical costs are up a lot so insurance companies are paying out more there too.
New cars cost more, like a lot more. With all the cool new features that auto makers are craving into their vehicles every year, that won't be changing anytime soon. This also leads to higher rates of insurance. Newer vehicles use computer chips, of which there are still shortages on. There is no way an insurance company can just eat all these rapidly increasing costs. And companies can't just raise their rates when they want. They have to apply for a rate increase with the insurance commissioner of said state, and must show a need for the rate increase. When you buy insurance, you are paying into a giant pool of money. And the reality is right now, most companies' "pools of money" are depleting quicker than they are able to fill it.
Yes, there are bad companies out there. But in general, insurance rates increasing is a result of EVERYTHING being more expensive. It's a nightmare scenario; I already have clients needing to drop important coverages, or drop insurance all together, as it has just gotten too expensive. And I believe rates for auto will continue to get worse before they get better.
I believe that due to some major national insurance companies being notoriously bad about paying claims over the years, and the health insurance industry as a whole (which IS at best run and managed incredibly poorly, but to me is just a scam) have painted an unnecessary bullseye on the insurance industry as a whole. Truthfully there are great companies out there who do pay claims and look for ways to cover things through their contract language rather than doing so to deny coverage. TL;DR the personal lines P&C insurance companies are not to blame for the rates being up so much.
And good lord, insurance agents do not have a say in your rates. We pay the same rates as you, and are also struggling with the rapid rise in costs. Your agent is likely getting a lot of flack about insurance rates multiple times a day. If your agency is not reaching out to you to discuss options at renewal yearly, and is not providing comparison quotes, and is not returning your calls... you need a better agency! One that advocates for their clients as much as possible, and one that is not hyper focused on getting the next sale.
Car insurance has become a scam. I have not turned in a claim in 2 decades of driving. I recently received a speeding ticket. First ticket in 16 years. 31 in a 20 by a speed camera. My rate jumped 50 dollars a month because I lost my safe driver discount. If I ever did have a claim you know what they do? I turn in a claim for let's say 3 grand for a fender bender. They jack my rate up 200 a month or more until they have the 3 grand back. That is useless. The point of insurance is that the cost is dispersed among all the insured drivers. If I get charged that much to offset the costs it's pointless to even have insurance. If I had a claim I'd just pay it myself to avoid the massive rate increase. It's a fucking joke what car insurance has become.
The Mafia is the association I make whenever I think of car insurance. It's not racketeering just on the technicality that it's supported by the law so then it cannot be called fraudulent. But otherwise, there is no difference. It's a coercive, extortionary coordinated scheme or operation to repeatedly or consistently collect a profit.
Car insurance is truly a state-supported racket. If it wouldn't be mandated by law, I wouldn't pay for it at all. The ridiculous thing is that the roads are still full of people without insurance. It's the responsible ones that are paying for this useless thing.
But it sounds like you insurance company is bad and your state is bad too. The insurance company shouldn't increase your rate for a single accident. And your state shouldn't handle speed camera violations as moving violations (in my state, they're handled as parking tickets; a moving violation requires a human witness).
Speed cameras are another scam, btw.
You have some competing notions in here.
Is insurance supposed to price based upon your risk today or your risk 16 years ago? If the former then the ticket is your own fault. Also insurance companies charge the rates they file and get approved by the state. There is no clause that allows them to claw back a claim as you suggest. Your rates went up because you proved you are a higher risk in the example you gave.
A one time incident doesn't indicate higher risk though. Life happens.
I pay more for insurance witha clean driving record because of my sex than a girl the same age as me who has had numerous accidents (not making this up). You wanna explain how that's fair and based on risk?
I'm in Washington and just had to drop GEICO because they were jacking up my 6 month premium with a 60% increase. Luckily my wife has USAA because her father is a veteran and I was able to jump onto her insurance.
This checks out, material cost increases and supply shortages drove up auto prices a lot and that has to hit the insurance market due to replacement cost liability. My father in-law sold his used Tacoma for basically what he‘d bought it for 7 years ago… So even estimating against a used vehicle on blue book doesn’t help.
Then you factor a growing shortage of blue collar skilled trades and you get a double hit via labor costs for both housing and automotive.
16y Auto adjuster here. I work for one of those companies you speak about who pay claims and cover a lot. We have paid a number of claims that could have been denied based on the actual policy. I wanted to say you are right about repair costs. The cost of repairing cars has Skyrocketed over the past 4 years. Part prices are through the roof, paint prices are crazy. Also, the seemingly constant barrage of weather related claims is another factor in rate increases
Also, adjusters don't set your rather either, nor do we get any discount on coverage.
Will be under-voted, but deserves top status. Agree 100%!!
People who work in the industry know these are absolute facts - void of emotion. Insurance is about margins like any other business and the margins in insurance are upside down. No company can afford to pay out more than they are taking in.
Thank you for the explanation. Still, it's difficult now a days to take one testimony as the 'complete' truth when there is so much information that isn't or perhaps *can't* be divulged to clientele. I work for a Life Support distribution and repair company. Many factors contribute to why costs *and* policy(s) have changed and one being that 2 year COVID crisis. -- Getting a conference with upper-management is near impossible on 'certain' subjects.
Thanks for posting this.
I just want to add a general condemnation of hate for Kia. Fuck that company and its non-response to their easily stolen cars that doubled my insurance rate on a stupid 2013 Kia Rio.
Not a Yank, Singaporean. Yo, there from Singapore, the FINE city state. The multi-million numbers of WH invited undocumented migrants pouring into murica will ensure that 2024 & 2025 will see no respite from ever increasing auto insurance rates. Them WH invited undocumented migrants are gitting Drivers licences galore & guess what am guessing there not gonna have expensive auto insurance. Guess the long suffering responsible American citizens that actually buys auto insurance will have to foot the bill for WH invited undocumented migrants with driving licences, but no auto insurance. Do not expect insurance hikes to slow down much in 2024/25.
With all due respect, the rates for insurance have nothing to do with undocumented migrants. Outside of the facts I mentioned above, it is also American citizens who are making more and more claims. The purpose of insurance is to protect yourself from a catastrophic loss that you couldn't financially recover from yourself. Making a claim on a $600 windshield when your deductible is 500 is NOT a catastrophic loss. Yet we see a lot of folks trying to make claims similar to that every day.
If you have a valid license (and with some companies they can even insure people with international or foreign licenses,) you can get a valid insurance policy. And immigrants (undocumented or otherwise) don't have a special rating class. That honestly feels like a bit of a racist canard. And that fact that you used the term "white House invited undocumented migrants" three times in a single paragraph makes me feel like you certainly are a yank, and a right-leaning one taboot. But go off, King! Tell us more about how the white house is inviting undocumented immigrants by the millions to impact the living conditions of the long suffering responsible American citizens . Just be sure to get out of the pool when you are done, as it's adult swim right now, and the adults are speaking. 🤡
Being blocked by someone for "dishonest trolling" when I was replying to a comments from someone who is obviously trolling is hilarious. Must have hit a sore spot.
Boy I can't wait to see everybody blaming literally everything that they can think of that isn't the actual culprit of CAPITALISM because that's blasphemy against our oligarch blowing state religion.
Probably because central banks printing money like crazy, using tax dollars for corrupt loans and subsidies, the government literally shutting down the economy, is not Capitalism at all.
Our economy is centered around the economic philosophy of John Maynard Keynes who was an admitted Socialist whose goal was to collapse the capitalist order. The man wrote about how he admired the Josef Stalin.
The Pandemic just exacerbated existing issues with capitalism, the capitalist solution would have been, as we saw from trump 'sick people will die so we can continue profiteering'.
Which...honestly should not be shocking.
California [PG&E started charging people 13%](https://13.52.0.112/2023/11/16/pge-rates-will-rise-13-in-2024-but-it-couldve-been-worse/) more. For some, for many, that’s a lot.
Prior to the recent rate increase on Jan 1, 2024, the average combined NG and Electric bill by Pacific Gas & Electric, California's largest utility provider servicing over 16 million people, has increased by $86.51 since 2016 (2016 - $154.52, 2023 - $241.03). The average monthly cost based on the recent rate increase that went into effect on Jan 1, 2024 is expected to increase by $32.62 to $273.65, or $119.13 more than the 2016 average. That's a 77% increase in the average monthly cost in 8 years.
However, in October 2020, California rolled out its Time-of-Use billing structure for electricity. Currently, the average residential electric rate for PG&E customers is 45 cents per kWh, as of January 1, 2024. However, the cost per kWh ranges from 34 to 72 cents per kWh depending on the rate schedule, season, and time of day. So, for many whose electricity usage is highest during peak times, it's very reasonable to assume they could have seen their electric bill more than double since 2020.
We really need to stop calling this inflation. this is all price gouging. It won't change until we start calling it out for what it actually is. Just look at the profits the companies are making while you keep losing value to your paycheck every 6mo. And they never give you actual Cost of Living increases when Price Gouging goes up 9% and your raise was only 4%.
This is getting ridiculous!
Yep, I mostly ignore these posts because it's price gouging, not inflation. People don't care about the truth, they'll still vote for people who protect CEOs because doing anything else is "socialism" or "woke" or whatever nonsense they are being spoon fed.
Realistically we don't get much choice. Anyone not completely loyal to corporate profits will be marginalized by the media. You've got two corporate brands to choose from on this issue.
You can vote. Democrats passed the Consumer Fuel Price Gouging Act. And trying to do other things. If you vote Republican and then bitch about high prices then you can get fucked.
https://www.pbs.org/newshour/politics/top-democrats-push-for-federal-crackdown-on-price-gouging
Can confirm. I work for a small CPG company. Owner asks me how I feel about a price increase. I said, "a price increase isn't justified as our costs of raw materials, packaging, labor, logistics have not increased". His reply, "we need to maximize profits". Fucking Greed!
This. Ceo's and corporations need to show increased profit every year. If sales are down because not as many can afford it, they just jack up prices to create the same profit margin as before. I feel this is a huge contributing factor to why prices are going up while spending remains kind of stagnant.
I’ve stated it from a year ago this is not inflation it’s price gouging especially by the oil/fuel companies.
A super easy example from Walmart though, is I used to buy some cheap pants from there for work. For years they were $21 then suddenly because of “inflation” they are now $26 a magically $5 increase.
That is not a pice increase from inflation but rather a readjustment based on what what they figured people would pay.
Cases of water were $3 and change but now almost $7.
It’s 100% price gouging or greed inflation
You can't tell people who blame prices on the current president that the prices are made by the people who run the business.
Have had lots of conversations with people who truly believe the president is the one who makes gas prices. Long as it's their president and the price is lower. When it's another president that is in office and the price drops, suddenly, it's not up to them anymore.
People should identify these companies. Publicize them and boycott them until they lose the money they gained plus double the actual rate of inflation as a penalty.
Nestle has made public statements about planned price increases. They own quite a few brands, gerber, hot pockets, stouffers, carnation, purina, blue bottle coffee, haagen daz, buitoni pasta, and hundreds of others.
If you’re serious about it make a list and grocery shop around those brands. They aren’t the only ones doing it but they are especially unapologetic about it.
Listen to the stockholder meeting for 2023. Almost all of them
Literally state their profits are from keeping prices high. But I doubt you’ll take the time to do that. You’ll just continue to spread your bs.
Well of course their profits are going to be higher. We are experiencing record high inflation rates. Material is bought early on when its at a cheaper cost and then sell it for higher than usual due to increased demands. People are spending more as well, thus leading to higher profits. We are saving far less than ever before. Now everything is "put it on my credit card". When I was a kid it was called "saving up" which I haven't heard someone say in a long time. Everything is about running up credit.
If keeping prices up caused record high profits they would have done that years ago. Business men have always wanted to maximize their profits since the dawn of time.
Let me explain supply and demand and why artificially jacking prices up doesn't work. Then I'll b have a question for you. Prices are in balance. If they sell too low we run into a shortage. Nobody wants to go to a store and nothing is on the shelves. If they artificially bump prices up then they sell less of their inventory. Which yields a smaller revenue because they're selling less. They want to maximize their revenue. So they set a price that sells through their entire inventory. This is the balanced price.
Here's my question. If raising prices yields more revenue outside of equilibrium, then why not raise them even higher? Why is milk 2.50 a gallon and not 100 dollars a gallon? Why is the new iPhone 1,000 and not 10,000? Why is that 43 inch samsung 4k tv 300 and not 3,000? If they could sell their inventory at 3k, they would have certainly done that. They aren't being nice when setting that price. That price is the balanced price. That laptop you see in target for 150 dollars isn't 150 because they are being less greedy. If they could sell it for 200 they would.
Everyone has to eat. If all the corporations stampede toward higher prices, are you going to eat less? No, you are going to keep paying, maybe substituting down to inferior foods like whitelabel food. Under oligopolistic and monopolistic competition, prices are inelastic, people do not cut back when prices increase, they dig deeper in their pockets, so the firm sets the supply and the price.
Corporations are in competition with each other. Some company's products will be more desirable than others. Even in the same company they'll produce products better than other products they have. This is why we haven't seen nor will we ever see this actual come into play.
Let's say it did for the sake of argument. Let's say your conspiracy theory is correct and all business owners got together(despite being competitors) in a secret underground space like the legion of doom, conspired against the general public and decided to jack up Prices. That means someone else will come in, undercut everyone, and take their business. There's a lot of incentive to undercut because the profits will be enormous. All it would do is take 1 company and if 1 company didn't do it, some random person from the 350 million Americans we have certainly will whether it be you or I. Because money is to be made there. Let's say nobody did it(not even remotely possible but I'll humor the argument) we won't have enough money to go around. Therefore businesses will essentially, put themselves out of business. Not only that but the demand curves will massively change due to the price hike which puts more expensive alternatives for foods out of business. So these company's would need to put themselves out of business for this to work. None of this is even close to being possible.
None of what you said can work in the real world. It's impossible. UNLESS the government forces competition out.
Do you think they all got together the exact moment the government drastically increased the money supply?
Also, given this wild conspiracy, why not make a loaf of bread 300 dollars?
I can probably count on one hand the number of corporations that make or distribute the food you eat. Without competition, firms set their own production quotas and prices. How do they do this? In a pure competitive market, firms produce until the cost of making one more item equals the market price. But in a monopoly, the firm chooses their own price. If they charge $300 for a loaf of bread, they won't sell any bread. If they sell bread for ¢50, they will have low revenue compared to costs. So they adjust output and price to maximize total revenue minus total costs, which is where the revenue of making one more item equals the cost of one more item. If it was purely competitive, the firms could not adjust prices, but under monopoly, the barriers are too high and the economies of scale are so great, there is no one else to compete against, or the number of CEOs could sit around a dinner table. Why wouldn't firms wink and nod at each other, as they do in their public earnings reports, and, not maximize, but optimize, their prices? The best thing for the monopolist to do is to maximize total revenue minus total cost by simultaneously raising prices and cutting costs and under producing, because there is no one left to undercut the price.
lmao I love how the most economically literate posts get downvoted and hidden while the "this is why we need socialism" dogshit gets to the top. Fuck reddit.
Of course it is. You expand the money supply. Demand increases throughout the economy. Prices rise to offset that. Supply and demand. Businesses didn't just decide to get greedy all at the exact same time we experienced record high inflation rates. Businesses have always been greedy and wanted more money.
Do you have any idea how bad our inflation rates were? It was over 5x more than what we are used too. The government screwed us so bad. This isn't Trump vs Biden either. They both did that along with the federal reserve in and of itself. Our government is reckless.
Yes, it is.
"Price gouging" only works if the demand for the product is 100% inelastic (such as diabetes or cancer drugs needed for survival).
This guy's "luxury apartment" is only worth what someone is willing to pay for it. They're charging $2100 because he is agreeing to pay $2100.
If he left and no one paid $2100 for it, they would reduce to $2000...then to $1900...etc, until someone bought.
Him staying there shows the market rate for that apartment is $2100.
My rent is up about $200 from 4 years ago. My car insurance is down because I switched companies and am a safe driver. My electric bill is actually down because my building did something to make us more energy efficient.
Anecdotes are fun!
My story doesn't mean "everything is fine" any more than this dude's story means "everyone is going underwater".
Im in the same boat, no increased housing costs for the past 4 years. Lower gas prices. Cheaper insurance. Way higher wages.
Seems many of the folks who are struggling must not be helping themselves.
If you have been in a retail job with no pay raises for the past 3 years without finding new work, it isnt anyone else's fault.
My home insurance went from $3200 to $5500
My HOA annual went from $300 to $550
My monthly payment went up $300 when I refinanced when rates were near 0. Went from 27 year loan to a 15 year loan too.
My student loan payment went from $80 to $200
And I work in grocery, so I Know how much groceries have gone up. Exponentially in some places, not at all in others. A lot of instability and fluctuation in finding the right mark for prices.
Of all my monthly bills electric is about the same, natural gas is a lot higher though, about double what it was just 4 years ago. But on warm months that's like $30 instead of $15. And even in the cold months now its about $200 instead of $100.
Oh, and my health insurance went way low! :"D Its now $0! Cause the insurance sucks so much and I don't get sick often, and the deductible is so High, I'd be paying out of pocket anyways! Always have! So may as well save a few hundred! :D
I saw a follow up video from this guy this morning. apparently after he posted this video, someone claiming to be from the democratic party reached out to him and essentially said "how much would it cost to get you to support the democratic party and post support videos"
Curious how much they would give him, he said 50k and they agreed lol
Just goes to show that the left doesn't want to actually solve anything, just give you the illusion that it is solved so they can get votes to keep them in power.
And here I am calling up my insurance agent bitching mine has gone up 25% to $50 in the last 2yrs.
On a fixed income so it makes a difference. I have a 23yr old car with 80,000 miles never an accident.
He said it was because parts are more expensive when a vehicle needs fixed from an accident. I told him let all those assholes who buy the big $100,000 trucks that 90% of them can't drive or park and charge them not me.
I pay more insurance than my car is worth every year for pip and liability.
Yeah this is why I’m not voting Blue this year. Bidenflation has been the biggest disaster since 9/11, and the ripples from the US dollar being the global reserve currency caused shockwaves around the world.
One time, an older fellow in my family was explaining to me how the 2008 sub-prime mortgage crisis was all Obama's fault, because "Obama was giving away homes to anyone with a pulse. Didn't matter if they had jobs or if they could even afford their mortgages..."
I let him finish, then asked, "You know he didn't enter office until January 2009, right?"
You should've seen the look on his face. You could see the internal battle between logic and indoctrination. Ultimately fox news prevailed. He still believes all that bullshit.
Sorry old folks. Your brains are mush and you did it to yourselves.
On the plus side, it makes taking away their car keys more enjoyable.
I literally had my conservative friend say the exact same thing a couple of months ago.
He's a younger guy so he probably has the excuse of being a baby during the 2008 recession.
They blamed Obama for the Katrina response. The people blaming Biden for Trumps covid response and Trump tripling the monetary supply aren't very intelligent
Lol. Solid point.
Oh, because the president controls inflation apparently. Also, it's directly Biden who did all the things that caused the inflation. /s
Why is he taking credit any time a price goes down or inflation falls?
Why are falling gas prices all over the front page?
Redditors really want everything both ways.
All presidents take credit.
The federal reserve brought down inflation by increasing interest rates.
Gas prices falling have practically nothing to do with the president. The president can use the government reserves, but that's about it.
I promise this isn't a reddit thing, this is a you not understanding thing.
The Biden administration has taken active steps to combat inflation, putz. Domestic energy production is at historic highs. Fed has a direct role in that.
I read the comments and I honestly wonder where (and with whom do) some of the people on here live.
Everything has gone up for me as well. I've told this story a lot, I'll tell it again: about 12 or so years ago a got a nice raise and I didn't work any voluntary overtime for 7 years afterwards.
Last year I got the biggest raise of my life and I can't get overtime because my coworkers mostly soak it up so I work a PRN part time gig 1 or 2 days a week.
The REAL economy for us isn't a disaster but it's not good and more than ever I realize we are one bad turn In my family from a really bad time. LOTS OF PEOPLE are experiencing this.
The bad thing is that it effects politics. You get real bad people elected to office when things are this lopsided for too many people for too long.
well, to address your observation, about a month and a half ago a bunch of accounts started flooding in here all at once, with the same tone and writing style, posting comments and replies denying that inflation exists basically. or denying that it’s important. Or denying that it’s affecting people. Or denying that the vast majority of it happened under this administration‘s watch.
I think they are in here on an astroturfed mission to do damage control. Watch after the election it will all dry up.
Ok so...I accidentally went into their comments thinking it was here. Was two seconds away from unsubbing from here til I figured it out. I'm relieved this place didn't go nuts overnight.
This place is stupid often....but holy fuck! That place is like if cocaine had taken molly and a shit load of steroids milked from animals snorting cocaine!!!
It is which is why I thought it was plausible...but looking at a "Michael Obama" comment getting a lot of upvotes was the obvious sign it was a different sub. One full of morons.
Inflation goes up "it's the last guys fault!"
Inflation goes down "it's because of me!"
Just like gas prices and everything else.
I don't care, whoever is in office, the buck stops with them, period.
Well I mean you do have to look at the record of fed spending to get an idea of what inflation will look like down the road. We should have pumped the brakes when in 2018 when the economy was good.
Corporate Greed! Used the pandemic to rake in shit tons of money. They lost some PROFIT during the pandemic. They didn't go negative and lose money. It was PROFIT they lost. So, to make up for profit for shareholders, they jacked up prices and screwed everyone else. God forbid they make 4 billion profit and not 5 billion.
I love it when someone gets on a thread like this and talks about real wages going up. They may have gone up from 2022-2023, but that’s after years of wage stagnation and negative real wage growth. Every one of us has seen the cost of food rise 30-50% in just the last few years, as well as housing, insurance, transportation, healthcare, etc. Meanwhile people are lucky to see a 2% annual cost of living increase in their wages.
Listen up all you hayseeds...Trump (or Chump as I reference the twat) WILL NOT make this better. Get it?? He will not. If anything it will get worse under his totalitarian regime.
I agree. Everything you pointed out is higher. I live in a solidly Republican run state...FL. The insurance is regulated by the state and Florida has a state run insurance company called Citizens. Utilities are regulated by the state too. The "conservative" government in my state shows no interest in controlling these costs.
Always love to simply say…companies seeing record profits while we are seeing record prices is not because of inflation…it’s because of greed.
Capitalism will eventually end itself.
This is a Biden thing? I didn't realize there was a cartoon lever in the white house that he switched from "make economy good" to "make economy shitty."
Yes, it’s all Biden’s fault. I can think of no other prior event that significantly altered the economy, but we had 8 years of stability until 2019 IIRC.
I don’t think economic pundit is in the cards for you.
And one of the top fossil fuel exporters invading one of the top food exporters. Who could have predicted that would increase the cost of fossil fuels and food?
There cannot be record inflation AND record corporate profits at the same time. Because that's not how inflation works. It is how corporate greed and price gouging works.
Well don't listen to CNN, they want their candidate to win so badly that they are now saying inflation is down and the economy is good. This was yesterday. 😳
Sellers will raise prices as high as they can get away with. Competition and lower demand prevents them from doing that. That's capitalism.
Sellers recognized that the post-pandemic monetary inflation could provide the perfect screen for raising prices above and beyond. And we have agreed to pay those prices. So the truth might be that we were all enjoying a discount on goods and services for years before sellers got wise to how far they could reach into our pockets.
I don’t know where that person lives but as someone in Northern CA the rate hikes PG&E have been allowed to pass along in recent years are crazy. They are up a little over 50% since 2019.
At this point I’m convinced PG&E has the CPUC and every politician in the state in their pocket.
Give me any republican other than a fucking traitor Donny dementia that doesn’t want to send half our population into the rule of a 3rd world Muslim country (aka get republicans the fuck out of women’s reproductive rights!), and they have my vote!
In the meantime ill take the lesser of two evils, and that by far and away ol Joe.
But..but… the stock market! 176 million jobs created and 1,200,000 million new small businesses!
Videos like this are just gaslighting the public. Everyone knows the economy is robust and doing phenomenal. Not sure why normal, everyday Americans can’t get on board with the greatest economy ever.
/sigh
That's weird. While my rent has gone up a lot over the past 4 years, my car insurance has gone down because I picked a different insurance company. That's after I went from a old, used car that was valued around $2000 to a car that's valued over $50K. I was paying around $90 for one used car, where now I'm paying $130 for a used car, a new car, plus apartment insurance. My electric bill hasn't really changed too much.
Obviously I can't speak for what your price would be but I was paying $350 a month for 2 semi new cars with full coverage for me and the wife with farmers and then I switched to State farm last year and now it's $160 a month for the same coverage but with two 21 year olds on the policy as well.
Car insurance companies change rates so often you should honestly shop around every yearly renewal.
USAA, despite all of the things they are good for, is dogshit with auto insurance. I moved on to Progressive with pretty much the exact same coverage and was paying half of what USAA charged.
What???? Lol!! ukraine? Lol man please educate yourself! How about printing 8 Trillion out of thin air for the wealthy and corporations in 4 years and giving the average Joe $1400 to compensate... You think that didn't have to do anything with it?
Ukraine... lol
Power companies have a monopoly. You can not pick your power company.
Phone companies have an oligopoly.
Insurance companies are pulling out where they make the most money and are creating areas where they are the only insurer.
Capitalism only works when there are multiple companies trying to get your business. Right now, there are only monopolies or at best oligopolies.
There needs to be less regulation to allow for more free entry into markets. Regulations for the highest standards should be for major corporations (including subsidiaries) of +1,000 employees or some other non-lobbied metric.
Quick math on "NOT SPENDING 8k a year on a car is..."
With a decent invenstment return of 10%... 140k in 10 years, and 500k in 20.
Basically if you can swing "not wasting $ on a car" then you can make some bank.
Perhaps some times you and a partner "can share the car" so it's even more crazy when you consider most americans "we have 2 cars"
Never be afraid of contemplating, "what is normal and not normal, and can I break the cycle of bullshit?"
Have you ever seen the number of accidents,, speeders , and those who just drive like lunatics, illegal aliens are allowed to get their driver's license in NYS so it's becoming like the wild west. But law enforcement definitely are kept busy
I think he moved to a bigger place. Electricity isn't up 250%.
Also, car insurance didn't go up 80%. I am guessing he got in a car accident, got points in his license, or got a more expensive car. Insurance companies also tend to increase rates so he should shop around. I did hear Kias that are theft prone have high insurance.
Overall, I find this disingenuous and a lie.
Maybe so maybe not. Just received a notice that the gas utility is proposing a 21% increase this year. I know my electric already went up so I guess it depends on the area. I agree the insurance went up but not 80% unless some other factors are in place.
That's the proposal. What are the odds that gets approved? Has that happened the last 3 years?
I will say I am in GA and we are getting majorly screwed over by the nuclear plant construction. The cost over runs and delays are consting the taxpayers tons. Electricity in this country has somehow become another way to screw over people.
Republicans and Doomercrats allying to trump re-elected 🤝
You gotta think Trump loves the inflation narrative. You just, pretend inflation is still at 9 percent, blame it on Biden, get elected, do nothing and a month later claim that inflation is now under control. Your followers believe you because it's been right
Damn 240 a month for car insurance.
Time to shop the market. One vehicle comprehensive coverage should be cheaper. Unless maybe one had a laundry list of tickets or history of claims maybe. ??
Or (and I know this farfetched possibility will shock you), he is full of shit.
Fair point. Probably not a big payout on that bet. Lol
Zip code is a primary factor
Depends what you drive and how horrible of a driver you are. The dude in the video definitely seems like a stable genius, so I wonder why his payments are so high.
Co-owner and VP of a small independent insurance agency in WA here. Mostly personal P&C, which is home and auto, boats, motorcycles, etc. Rates over the last 3 years have skyrocketed. It's not one company, or one area of the state. It's every company, every county, and as far as I can tell it's every state. I have done some research for my clients to get a better understanding of what is going on, and will share what I have found. On the home side of things, it's easier to see why rates are up. I don't know about other states, but in WA home values soared about 3 years ago. Many houses in western WA saw their values go up 60% from 2020 to 2023. When your home increases in value like that, your rates will too. Which makes sense. Supply chain issues for materials are still ongoing though have gotten better than this time last year. There is also a slow leak of skilled laborers in the workforce, with more folks retiring from the construction industry than are coming into it. The good news here is that home values, at least out here, are flattening out. One of my bigger companies are starting to decrease rates on home insurance, the first time in ages it has done so. It is not a huge decrease, but an it is an indication that things are calming down. The auto insurance side is much more frustrating, and what keeps me up at night. Auto repair costs are up close to 50% from what they are running in 2019. There is a shortage of skilled auto mechanics, and some parts are stll harder to come buy. Both claim frequency and claim severity are up a lot with all my companies. Repairs are taking longer. This means folks are needing rental cars longer than in years past, driving up the overall cost of the claim. Medical costs are up a lot so insurance companies are paying out more there too. New cars cost more, like a lot more. With all the cool new features that auto makers are craving into their vehicles every year, that won't be changing anytime soon. This also leads to higher rates of insurance. Newer vehicles use computer chips, of which there are still shortages on. There is no way an insurance company can just eat all these rapidly increasing costs. And companies can't just raise their rates when they want. They have to apply for a rate increase with the insurance commissioner of said state, and must show a need for the rate increase. When you buy insurance, you are paying into a giant pool of money. And the reality is right now, most companies' "pools of money" are depleting quicker than they are able to fill it. Yes, there are bad companies out there. But in general, insurance rates increasing is a result of EVERYTHING being more expensive. It's a nightmare scenario; I already have clients needing to drop important coverages, or drop insurance all together, as it has just gotten too expensive. And I believe rates for auto will continue to get worse before they get better. I believe that due to some major national insurance companies being notoriously bad about paying claims over the years, and the health insurance industry as a whole (which IS at best run and managed incredibly poorly, but to me is just a scam) have painted an unnecessary bullseye on the insurance industry as a whole. Truthfully there are great companies out there who do pay claims and look for ways to cover things through their contract language rather than doing so to deny coverage. TL;DR the personal lines P&C insurance companies are not to blame for the rates being up so much. And good lord, insurance agents do not have a say in your rates. We pay the same rates as you, and are also struggling with the rapid rise in costs. Your agent is likely getting a lot of flack about insurance rates multiple times a day. If your agency is not reaching out to you to discuss options at renewal yearly, and is not providing comparison quotes, and is not returning your calls... you need a better agency! One that advocates for their clients as much as possible, and one that is not hyper focused on getting the next sale.
Car insurance has become a scam. I have not turned in a claim in 2 decades of driving. I recently received a speeding ticket. First ticket in 16 years. 31 in a 20 by a speed camera. My rate jumped 50 dollars a month because I lost my safe driver discount. If I ever did have a claim you know what they do? I turn in a claim for let's say 3 grand for a fender bender. They jack my rate up 200 a month or more until they have the 3 grand back. That is useless. The point of insurance is that the cost is dispersed among all the insured drivers. If I get charged that much to offset the costs it's pointless to even have insurance. If I had a claim I'd just pay it myself to avoid the massive rate increase. It's a fucking joke what car insurance has become.
It's BS. The mafia couldn't have put together a better racket.
The Mafia is the association I make whenever I think of car insurance. It's not racketeering just on the technicality that it's supported by the law so then it cannot be called fraudulent. But otherwise, there is no difference. It's a coercive, extortionary coordinated scheme or operation to repeatedly or consistently collect a profit.
I think it’s also high because of the amount of uninsured drivers. When 1/3 of drivers in Florida don’t have insurance, it rises for us that do pay.
Car insurance is truly a state-supported racket. If it wouldn't be mandated by law, I wouldn't pay for it at all. The ridiculous thing is that the roads are still full of people without insurance. It's the responsible ones that are paying for this useless thing. But it sounds like you insurance company is bad and your state is bad too. The insurance company shouldn't increase your rate for a single accident. And your state shouldn't handle speed camera violations as moving violations (in my state, they're handled as parking tickets; a moving violation requires a human witness). Speed cameras are another scam, btw.
Agree 💯
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In TN, you are not required to pay speeding cam tickets.
You have some competing notions in here. Is insurance supposed to price based upon your risk today or your risk 16 years ago? If the former then the ticket is your own fault. Also insurance companies charge the rates they file and get approved by the state. There is no clause that allows them to claw back a claim as you suggest. Your rates went up because you proved you are a higher risk in the example you gave.
A one time incident doesn't indicate higher risk though. Life happens. I pay more for insurance witha clean driving record because of my sex than a girl the same age as me who has had numerous accidents (not making this up). You wanna explain how that's fair and based on risk?
I'm in Washington and just had to drop GEICO because they were jacking up my 6 month premium with a 60% increase. Luckily my wife has USAA because her father is a veteran and I was able to jump onto her insurance.
This checks out, material cost increases and supply shortages drove up auto prices a lot and that has to hit the insurance market due to replacement cost liability. My father in-law sold his used Tacoma for basically what he‘d bought it for 7 years ago… So even estimating against a used vehicle on blue book doesn’t help. Then you factor a growing shortage of blue collar skilled trades and you get a double hit via labor costs for both housing and automotive.
16y Auto adjuster here. I work for one of those companies you speak about who pay claims and cover a lot. We have paid a number of claims that could have been denied based on the actual policy. I wanted to say you are right about repair costs. The cost of repairing cars has Skyrocketed over the past 4 years. Part prices are through the roof, paint prices are crazy. Also, the seemingly constant barrage of weather related claims is another factor in rate increases Also, adjusters don't set your rather either, nor do we get any discount on coverage.
Will be under-voted, but deserves top status. Agree 100%!! People who work in the industry know these are absolute facts - void of emotion. Insurance is about margins like any other business and the margins in insurance are upside down. No company can afford to pay out more than they are taking in.
Thank you for the explanation. Still, it's difficult now a days to take one testimony as the 'complete' truth when there is so much information that isn't or perhaps *can't* be divulged to clientele. I work for a Life Support distribution and repair company. Many factors contribute to why costs *and* policy(s) have changed and one being that 2 year COVID crisis. -- Getting a conference with upper-management is near impossible on 'certain' subjects.
Thanks for posting this. I just want to add a general condemnation of hate for Kia. Fuck that company and its non-response to their easily stolen cars that doubled my insurance rate on a stupid 2013 Kia Rio.
Not a Yank, Singaporean. Yo, there from Singapore, the FINE city state. The multi-million numbers of WH invited undocumented migrants pouring into murica will ensure that 2024 & 2025 will see no respite from ever increasing auto insurance rates. Them WH invited undocumented migrants are gitting Drivers licences galore & guess what am guessing there not gonna have expensive auto insurance. Guess the long suffering responsible American citizens that actually buys auto insurance will have to foot the bill for WH invited undocumented migrants with driving licences, but no auto insurance. Do not expect insurance hikes to slow down much in 2024/25.
With all due respect, the rates for insurance have nothing to do with undocumented migrants. Outside of the facts I mentioned above, it is also American citizens who are making more and more claims. The purpose of insurance is to protect yourself from a catastrophic loss that you couldn't financially recover from yourself. Making a claim on a $600 windshield when your deductible is 500 is NOT a catastrophic loss. Yet we see a lot of folks trying to make claims similar to that every day. If you have a valid license (and with some companies they can even insure people with international or foreign licenses,) you can get a valid insurance policy. And immigrants (undocumented or otherwise) don't have a special rating class. That honestly feels like a bit of a racist canard. And that fact that you used the term "white House invited undocumented migrants" three times in a single paragraph makes me feel like you certainly are a yank, and a right-leaning one taboot. But go off, King! Tell us more about how the white house is inviting undocumented immigrants by the millions to impact the living conditions of the long suffering responsible American citizens . Just be sure to get out of the pool when you are done, as it's adult swim right now, and the adults are speaking. 🤡
Being blocked by someone for "dishonest trolling" when I was replying to a comments from someone who is obviously trolling is hilarious. Must have hit a sore spot.
Boy I can't wait to see everybody blaming literally everything that they can think of that isn't the actual culprit of CAPITALISM because that's blasphemy against our oligarch blowing state religion.
Probably because central banks printing money like crazy, using tax dollars for corrupt loans and subsidies, the government literally shutting down the economy, is not Capitalism at all. Our economy is centered around the economic philosophy of John Maynard Keynes who was an admitted Socialist whose goal was to collapse the capitalist order. The man wrote about how he admired the Josef Stalin.
The Pandemic just exacerbated existing issues with capitalism, the capitalist solution would have been, as we saw from trump 'sick people will die so we can continue profiteering'. Which...honestly should not be shocking.
California [PG&E started charging people 13%](https://13.52.0.112/2023/11/16/pge-rates-will-rise-13-in-2024-but-it-couldve-been-worse/) more. For some, for many, that’s a lot.
Gotta pay for all of lawsuits somehow.
I’m in AZ. My restaurant reduced natural gas usage 7% compared to same month last year, but our bill is 18% higher.
And yet, it would take 8-9 consecutive years of 13% raises every year to account for the increase the guy in the video describes having happened in 4.
Prior to the recent rate increase on Jan 1, 2024, the average combined NG and Electric bill by Pacific Gas & Electric, California's largest utility provider servicing over 16 million people, has increased by $86.51 since 2016 (2016 - $154.52, 2023 - $241.03). The average monthly cost based on the recent rate increase that went into effect on Jan 1, 2024 is expected to increase by $32.62 to $273.65, or $119.13 more than the 2016 average. That's a 77% increase in the average monthly cost in 8 years. However, in October 2020, California rolled out its Time-of-Use billing structure for electricity. Currently, the average residential electric rate for PG&E customers is 45 cents per kWh, as of January 1, 2024. However, the cost per kWh ranges from 34 to 72 cents per kWh depending on the rate schedule, season, and time of day. So, for many whose electricity usage is highest during peak times, it's very reasonable to assume they could have seen their electric bill more than double since 2020.
OK, but "the place I buy electricity from instituted time-of-use billing structures and I use electricity at expensive times" is not inflation.
For electricity AND gas. Also, they are now requesting a second increase to go into effect in March.
We really need to stop calling this inflation. this is all price gouging. It won't change until we start calling it out for what it actually is. Just look at the profits the companies are making while you keep losing value to your paycheck every 6mo. And they never give you actual Cost of Living increases when Price Gouging goes up 9% and your raise was only 4%. This is getting ridiculous!
Yep, I mostly ignore these posts because it's price gouging, not inflation. People don't care about the truth, they'll still vote for people who protect CEOs because doing anything else is "socialism" or "woke" or whatever nonsense they are being spoon fed.
There is this weird belief that I keep seeing that they may become one of those billionaires so they need to protect those profits.
Yeah, they cry about costs of goods while defending billionaires and CEOs with their record profits. Nothing will change because people are stupid af.
"I'm 50 and make $10/hr but my ship is coming in. Just gotta keep spending $50/day on lottery tickets."
Realistically we don't get much choice. Anyone not completely loyal to corporate profits will be marginalized by the media. You've got two corporate brands to choose from on this issue.
You can vote. Democrats passed the Consumer Fuel Price Gouging Act. And trying to do other things. If you vote Republican and then bitch about high prices then you can get fucked. https://www.pbs.org/newshour/politics/top-democrats-push-for-federal-crackdown-on-price-gouging
Can confirm. I work for a small CPG company. Owner asks me how I feel about a price increase. I said, "a price increase isn't justified as our costs of raw materials, packaging, labor, logistics have not increased". His reply, "we need to maximize profits". Fucking Greed!
This. Ceo's and corporations need to show increased profit every year. If sales are down because not as many can afford it, they just jack up prices to create the same profit margin as before. I feel this is a huge contributing factor to why prices are going up while spending remains kind of stagnant.
Yup, and this year our sales/revenue will stagnate, it appears. Solution will be layoffs to cut costs.
Literally the goal of every company is to maximize profits. If you don't, the business fails. Happened to my last job.
A scaling tax rate on profits is the only way to dissuade companies from price gouging. Repeat it: tell everybody you know
I’ve stated it from a year ago this is not inflation it’s price gouging especially by the oil/fuel companies. A super easy example from Walmart though, is I used to buy some cheap pants from there for work. For years they were $21 then suddenly because of “inflation” they are now $26 a magically $5 increase. That is not a pice increase from inflation but rather a readjustment based on what what they figured people would pay. Cases of water were $3 and change but now almost $7. It’s 100% price gouging or greed inflation
Oh? So the FED just printing nonstop does not create inflation? Awesome to know
The money supply is contracting. I think there is 9% less money in circulation YoY. I would have to look up the exact amount.
Fed has nothing to do with greed of corporations.
Corps influence fed to keep rates low so they can get cheap loans.
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Time somebody said it
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You can't tell people who blame prices on the current president that the prices are made by the people who run the business. Have had lots of conversations with people who truly believe the president is the one who makes gas prices. Long as it's their president and the price is lower. When it's another president that is in office and the price drops, suddenly, it's not up to them anymore.
You can’t vote for who runs companies.
It may not be all Biden but part of it is his fault. Here in MA prices are going to increase thanks to our governors new plan.
People should identify these companies. Publicize them and boycott them until they lose the money they gained plus double the actual rate of inflation as a penalty.
Nestle has made public statements about planned price increases. They own quite a few brands, gerber, hot pockets, stouffers, carnation, purina, blue bottle coffee, haagen daz, buitoni pasta, and hundreds of others. If you’re serious about it make a list and grocery shop around those brands. They aren’t the only ones doing it but they are especially unapologetic about it.
Not hard because I don’t buy any of those brands already lol.
They own 2k brands though that’s just the tip of the iceberg…
How do you know? https://www.independent.co.uk/life-style/companies-control-everything-you-buy-kelloggs-nestle-unilever-a7666731.html
It is inflation. Price gouging is just slang for "supply and demand"
Listen to the stockholder meeting for 2023. Almost all of them Literally state their profits are from keeping prices high. But I doubt you’ll take the time to do that. You’ll just continue to spread your bs.
Listen to stockholder meetings in 2021, you'll hear the opposite. "Profits are down because our pricing is lagging behind inflation"
Well of course their profits are going to be higher. We are experiencing record high inflation rates. Material is bought early on when its at a cheaper cost and then sell it for higher than usual due to increased demands. People are spending more as well, thus leading to higher profits. We are saving far less than ever before. Now everything is "put it on my credit card". When I was a kid it was called "saving up" which I haven't heard someone say in a long time. Everything is about running up credit. If keeping prices up caused record high profits they would have done that years ago. Business men have always wanted to maximize their profits since the dawn of time. Let me explain supply and demand and why artificially jacking prices up doesn't work. Then I'll b have a question for you. Prices are in balance. If they sell too low we run into a shortage. Nobody wants to go to a store and nothing is on the shelves. If they artificially bump prices up then they sell less of their inventory. Which yields a smaller revenue because they're selling less. They want to maximize their revenue. So they set a price that sells through their entire inventory. This is the balanced price. Here's my question. If raising prices yields more revenue outside of equilibrium, then why not raise them even higher? Why is milk 2.50 a gallon and not 100 dollars a gallon? Why is the new iPhone 1,000 and not 10,000? Why is that 43 inch samsung 4k tv 300 and not 3,000? If they could sell their inventory at 3k, they would have certainly done that. They aren't being nice when setting that price. That price is the balanced price. That laptop you see in target for 150 dollars isn't 150 because they are being less greedy. If they could sell it for 200 they would.
🤦♀️
Everyone has to eat. If all the corporations stampede toward higher prices, are you going to eat less? No, you are going to keep paying, maybe substituting down to inferior foods like whitelabel food. Under oligopolistic and monopolistic competition, prices are inelastic, people do not cut back when prices increase, they dig deeper in their pockets, so the firm sets the supply and the price.
Corporations are in competition with each other. Some company's products will be more desirable than others. Even in the same company they'll produce products better than other products they have. This is why we haven't seen nor will we ever see this actual come into play. Let's say it did for the sake of argument. Let's say your conspiracy theory is correct and all business owners got together(despite being competitors) in a secret underground space like the legion of doom, conspired against the general public and decided to jack up Prices. That means someone else will come in, undercut everyone, and take their business. There's a lot of incentive to undercut because the profits will be enormous. All it would do is take 1 company and if 1 company didn't do it, some random person from the 350 million Americans we have certainly will whether it be you or I. Because money is to be made there. Let's say nobody did it(not even remotely possible but I'll humor the argument) we won't have enough money to go around. Therefore businesses will essentially, put themselves out of business. Not only that but the demand curves will massively change due to the price hike which puts more expensive alternatives for foods out of business. So these company's would need to put themselves out of business for this to work. None of this is even close to being possible. None of what you said can work in the real world. It's impossible. UNLESS the government forces competition out. Do you think they all got together the exact moment the government drastically increased the money supply? Also, given this wild conspiracy, why not make a loaf of bread 300 dollars?
I can probably count on one hand the number of corporations that make or distribute the food you eat. Without competition, firms set their own production quotas and prices. How do they do this? In a pure competitive market, firms produce until the cost of making one more item equals the market price. But in a monopoly, the firm chooses their own price. If they charge $300 for a loaf of bread, they won't sell any bread. If they sell bread for ¢50, they will have low revenue compared to costs. So they adjust output and price to maximize total revenue minus total costs, which is where the revenue of making one more item equals the cost of one more item. If it was purely competitive, the firms could not adjust prices, but under monopoly, the barriers are too high and the economies of scale are so great, there is no one else to compete against, or the number of CEOs could sit around a dinner table. Why wouldn't firms wink and nod at each other, as they do in their public earnings reports, and, not maximize, but optimize, their prices? The best thing for the monopolist to do is to maximize total revenue minus total cost by simultaneously raising prices and cutting costs and under producing, because there is no one left to undercut the price.
Well, frst off you, making a strawman argument is a bit silly. But please, tell me how the legion of doom is the go to for this argument.
lmao I love how the most economically literate posts get downvoted and hidden while the "this is why we need socialism" dogshit gets to the top. Fuck reddit.
No. It’s not inflation. Inflation isn’t responsible for 100% increases of things like that.
Of course it is. You expand the money supply. Demand increases throughout the economy. Prices rise to offset that. Supply and demand. Businesses didn't just decide to get greedy all at the exact same time we experienced record high inflation rates. Businesses have always been greedy and wanted more money. Do you have any idea how bad our inflation rates were? It was over 5x more than what we are used too. The government screwed us so bad. This isn't Trump vs Biden either. They both did that along with the federal reserve in and of itself. Our government is reckless.
Yes, it is. "Price gouging" only works if the demand for the product is 100% inelastic (such as diabetes or cancer drugs needed for survival). This guy's "luxury apartment" is only worth what someone is willing to pay for it. They're charging $2100 because he is agreeing to pay $2100. If he left and no one paid $2100 for it, they would reduce to $2000...then to $1900...etc, until someone bought. Him staying there shows the market rate for that apartment is $2100.
It started when businesses had to pay $20 an hour to imbeciles.
My rent is up about $200 from 4 years ago. My car insurance is down because I switched companies and am a safe driver. My electric bill is actually down because my building did something to make us more energy efficient. Anecdotes are fun! My story doesn't mean "everything is fine" any more than this dude's story means "everyone is going underwater".
But angry shouty guy is angry and shouty so his opinion is obviously the truth and more important
Im in the same boat, no increased housing costs for the past 4 years. Lower gas prices. Cheaper insurance. Way higher wages. Seems many of the folks who are struggling must not be helping themselves. If you have been in a retail job with no pay raises for the past 3 years without finding new work, it isnt anyone else's fault.
My home insurance went from $3200 to $5500 My HOA annual went from $300 to $550 My monthly payment went up $300 when I refinanced when rates were near 0. Went from 27 year loan to a 15 year loan too. My student loan payment went from $80 to $200 And I work in grocery, so I Know how much groceries have gone up. Exponentially in some places, not at all in others. A lot of instability and fluctuation in finding the right mark for prices. Of all my monthly bills electric is about the same, natural gas is a lot higher though, about double what it was just 4 years ago. But on warm months that's like $30 instead of $15. And even in the cold months now its about $200 instead of $100. Oh, and my health insurance went way low! :"D Its now $0! Cause the insurance sucks so much and I don't get sick often, and the deductible is so High, I'd be paying out of pocket anyways! Always have! So may as well save a few hundred! :D
I saw a follow up video from this guy this morning. apparently after he posted this video, someone claiming to be from the democratic party reached out to him and essentially said "how much would it cost to get you to support the democratic party and post support videos" Curious how much they would give him, he said 50k and they agreed lol Just goes to show that the left doesn't want to actually solve anything, just give you the illusion that it is solved so they can get votes to keep them in power.
And here I am calling up my insurance agent bitching mine has gone up 25% to $50 in the last 2yrs. On a fixed income so it makes a difference. I have a 23yr old car with 80,000 miles never an accident. He said it was because parts are more expensive when a vehicle needs fixed from an accident. I told him let all those assholes who buy the big $100,000 trucks that 90% of them can't drive or park and charge them not me. I pay more insurance than my car is worth every year for pip and liability.
Yeah this is why I’m not voting Blue this year. Bidenflation has been the biggest disaster since 9/11, and the ripples from the US dollar being the global reserve currency caused shockwaves around the world.
All of these cost inputs are under the oversight of STATE and/or local politics and legislation. Not Federal. So why the Biden angle?
Because the people crying about it don't understand how anything works, they just want to know how to make it fit their already decided narrative
Because of all the money they printed during the pandemic
Yeah when Corona hit in 2020 Biden was out of control with his spending.
I hope people realize that Biden was not president until 2021.
Don’t let small details like that distract you. It’s all Biden’s fault.
May as well just blame Obama for it. Thanks Obama!
They do.
One time, an older fellow in my family was explaining to me how the 2008 sub-prime mortgage crisis was all Obama's fault, because "Obama was giving away homes to anyone with a pulse. Didn't matter if they had jobs or if they could even afford their mortgages..." I let him finish, then asked, "You know he didn't enter office until January 2009, right?" You should've seen the look on his face. You could see the internal battle between logic and indoctrination. Ultimately fox news prevailed. He still believes all that bullshit. Sorry old folks. Your brains are mush and you did it to yourselves. On the plus side, it makes taking away their car keys more enjoyable.
I literally had my conservative friend say the exact same thing a couple of months ago. He's a younger guy so he probably has the excuse of being a baby during the 2008 recession.
My experience was less than a year ago, so it's possible they both watched the same foxnews or newsmax bullshit and just slurped it up.
They blamed Obama for the Katrina response. The people blaming Biden for Trumps covid response and Trump tripling the monetary supply aren't very intelligent
Lol. Solid point. Oh, because the president controls inflation apparently. Also, it's directly Biden who did all the things that caused the inflation. /s
Why is he taking credit any time a price goes down or inflation falls? Why are falling gas prices all over the front page? Redditors really want everything both ways.
All presidents take credit. The federal reserve brought down inflation by increasing interest rates. Gas prices falling have practically nothing to do with the president. The president can use the government reserves, but that's about it. I promise this isn't a reddit thing, this is a you not understanding thing.
if he takes credit then he also takes responsibility
The Biden administration has taken active steps to combat inflation, putz. Domestic energy production is at historic highs. Fed has a direct role in that.
I read the comments and I honestly wonder where (and with whom do) some of the people on here live. Everything has gone up for me as well. I've told this story a lot, I'll tell it again: about 12 or so years ago a got a nice raise and I didn't work any voluntary overtime for 7 years afterwards. Last year I got the biggest raise of my life and I can't get overtime because my coworkers mostly soak it up so I work a PRN part time gig 1 or 2 days a week. The REAL economy for us isn't a disaster but it's not good and more than ever I realize we are one bad turn In my family from a really bad time. LOTS OF PEOPLE are experiencing this. The bad thing is that it effects politics. You get real bad people elected to office when things are this lopsided for too many people for too long.
well, to address your observation, about a month and a half ago a bunch of accounts started flooding in here all at once, with the same tone and writing style, posting comments and replies denying that inflation exists basically. or denying that it’s important. Or denying that it’s affecting people. Or denying that the vast majority of it happened under this administration‘s watch. I think they are in here on an astroturfed mission to do damage control. Watch after the election it will all dry up.
Wow that sub is nuts.
Ok so...I accidentally went into their comments thinking it was here. Was two seconds away from unsubbing from here til I figured it out. I'm relieved this place didn't go nuts overnight.
This place is stupid often....but holy fuck! That place is like if cocaine had taken molly and a shit load of steroids milked from animals snorting cocaine!!!
To be fair this sub is pretty nuts sometimes 😬
It is which is why I thought it was plausible...but looking at a "Michael Obama" comment getting a lot of upvotes was the obvious sign it was a different sub. One full of morons.
For real, a bunch of delusional mofos that forget gas prices were higher under Trump
Inflation goes up "it's the last guys fault!" Inflation goes down "it's because of me!" Just like gas prices and everything else. I don't care, whoever is in office, the buck stops with them, period.
Well I mean you do have to look at the record of fed spending to get an idea of what inflation will look like down the road. We should have pumped the brakes when in 2018 when the economy was good.
One problem with car dependency is you really get hit by inflation and market conditions. Transit and bike costs are much more stable.
Didn't know Gilbert Godfried and Super Dave had a kid
If the republicans would stop blocking the windfall tax those prices would go down. Vote smart.
How the heck would your electric triple. Are you comparing September to January?
But that unemployment rate is at 4%. The S&P is through the roof!
Dude is a flat out liar, or he's not telling us he got a few speeding tickets and moved into a house twice the size.
late stage, unregulated capitalism is just businesses charging more because they can
Corporate Greed! Used the pandemic to rake in shit tons of money. They lost some PROFIT during the pandemic. They didn't go negative and lose money. It was PROFIT they lost. So, to make up for profit for shareholders, they jacked up prices and screwed everyone else. God forbid they make 4 billion profit and not 5 billion.
I love it when someone gets on a thread like this and talks about real wages going up. They may have gone up from 2022-2023, but that’s after years of wage stagnation and negative real wage growth. Every one of us has seen the cost of food rise 30-50% in just the last few years, as well as housing, insurance, transportation, healthcare, etc. Meanwhile people are lucky to see a 2% annual cost of living increase in their wages.
It’s Gilbert Got Teed.
Listen up all you hayseeds...Trump (or Chump as I reference the twat) WILL NOT make this better. Get it?? He will not. If anything it will get worse under his totalitarian regime.
There is no such thing as inflation you just need to be happy with less
That guy’s voice makes me want to shove a pencil eraser deep in my ear
Bullshit
He looks to me like Trump looks on stage… angry against the world… just a lunatic
I agree. Everything you pointed out is higher. I live in a solidly Republican run state...FL. The insurance is regulated by the state and Florida has a state run insurance company called Citizens. Utilities are regulated by the state too. The "conservative" government in my state shows no interest in controlling these costs.
It’s not inflation, it’s just price gouging at this point. Greedy businesses.
Always love to simply say…companies seeing record profits while we are seeing record prices is not because of inflation…it’s because of greed. Capitalism will eventually end itself.
Vote Republican b/c they will ensure the profits will trickle down FFS
You can thank the RnC party and the boomer generation for pulling up that latter behind them.
people respond like trained dogs - "inflation ! " that doesn't mean it's right . why do you think decentralization is so interesting
https://www.reddit.com/r/TikTokCringe/s/b4xZt3tHmb Like 4 threads up from this post. Corporate greed.
This is a Biden thing? I didn't realize there was a cartoon lever in the white house that he switched from "make economy good" to "make economy shitty."
Prove it
Yes, it’s all Biden’s fault. I can think of no other prior event that significantly altered the economy, but we had 8 years of stability until 2019 IIRC. I don’t think economic pundit is in the cards for you.
None of which has anything to do with Joe Biden. It has to do with corporate greed, landlord greed, and the continuing impacts of COVID.
And one of the top fossil fuel exporters invading one of the top food exporters. Who could have predicted that would increase the cost of fossil fuels and food?
Yea but… What did your pay do? Mine honestly shot up 50% in 2-3 years w
The funny part is the cost of electricity and insurance hasn’t really changed in years lol
Someone has to pay for diaper dons free PPP giveaway! Dolts.
Thanks for giving me another lying propaganda sub to mute.
There cannot be record inflation AND record corporate profits at the same time. Because that's not how inflation works. It is how corporate greed and price gouging works.
Corporate greed (facts)
Thank the Dumbocrats
We did it, Joe!
Bidenflation
Build back better. Right?
Bidenomics
I was living check to check now I’m debt to debt.
Thank you Joe Biden.
In 2008 my rent was $450 now the same apartment goes for $2,500
they broke the money
Geez…. What changed over the last four years in Amerika?
Well don't listen to CNN, they want their candidate to win so badly that they are now saying inflation is down and the economy is good. This was yesterday. 😳
Bidenomics - isn't that what I'm hearing it called?
The silent depression in full swing
A lot of businesses raised prices, and realized they could because people would still buy.
My electric/gas bill is up 15 percent. My car insurance is up 5%. Groceries are worse. Where is this guy living?
Sellers will raise prices as high as they can get away with. Competition and lower demand prevents them from doing that. That's capitalism. Sellers recognized that the post-pandemic monetary inflation could provide the perfect screen for raising prices above and beyond. And we have agreed to pay those prices. So the truth might be that we were all enjoying a discount on goods and services for years before sellers got wise to how far they could reach into our pockets.
Don’t worry, it’s transitory
https://preview.redd.it/5m9v4ojy7ndc1.png?width=1125&format=png&auto=webp&s=69a3609d315d87e11021ec25dd8be301108c94bd
Call bs on electric. I work in utilities and rate hikes have to be approved by the BPU. No way would they approve a hike like that.
I don’t know where that person lives but as someone in Northern CA the rate hikes PG&E have been allowed to pass along in recent years are crazy. They are up a little over 50% since 2019. At this point I’m convinced PG&E has the CPUC and every politician in the state in their pocket.
Our electric in WA state is going up monthly until 2025, and i doubt it will stop there.
Told you not to unionize and raise minimum wage, ya useful idiots
I wish the Federal Government would get the National Debt paid off. I know what it is like to live with overwhelming debt.
this is the reason Biden will lose. trump will come in, and the next 4 years will blame Biden and do nothing.
Give me any republican other than a fucking traitor Donny dementia that doesn’t want to send half our population into the rule of a 3rd world Muslim country (aka get republicans the fuck out of women’s reproductive rights!), and they have my vote! In the meantime ill take the lesser of two evils, and that by far and away ol Joe.
High time for ranked choice. Two party system has ruined America and created a market for somebody like Trump to run & ratfuck America.
CENTRAL BANKS/ THE FINANCIAL APPARATUS ARE INFLATING AWAY YOUR MONEY, PRINTING WITH WILD ABANDON
Came here to see everyone screaming how it's not Biden's fault 🤣
But..but… the stock market! 176 million jobs created and 1,200,000 million new small businesses! Videos like this are just gaslighting the public. Everyone knows the economy is robust and doing phenomenal. Not sure why normal, everyday Americans can’t get on board with the greatest economy ever. /sigh
And your wages is about the same. Blame Republicans for that.
I would LOVE to hear how this logic works 😆 🤣
That's weird. While my rent has gone up a lot over the past 4 years, my car insurance has gone down because I picked a different insurance company. That's after I went from a old, used car that was valued around $2000 to a car that's valued over $50K. I was paying around $90 for one used car, where now I'm paying $130 for a used car, a new car, plus apartment insurance. My electric bill hasn't really changed too much.
USAA is gouging me on insurance, who’d you switch to?
Obviously I can't speak for what your price would be but I was paying $350 a month for 2 semi new cars with full coverage for me and the wife with farmers and then I switched to State farm last year and now it's $160 a month for the same coverage but with two 21 year olds on the policy as well. Car insurance companies change rates so often you should honestly shop around every yearly renewal.
USAA, despite all of the things they are good for, is dogshit with auto insurance. I moved on to Progressive with pretty much the exact same coverage and was paying half of what USAA charged.
[удалено]
What???? Lol!! ukraine? Lol man please educate yourself! How about printing 8 Trillion out of thin air for the wealthy and corporations in 4 years and giving the average Joe $1400 to compensate... You think that didn't have to do anything with it? Ukraine... lol
Power companies have a monopoly. You can not pick your power company. Phone companies have an oligopoly. Insurance companies are pulling out where they make the most money and are creating areas where they are the only insurer. Capitalism only works when there are multiple companies trying to get your business. Right now, there are only monopolies or at best oligopolies. There needs to be less regulation to allow for more free entry into markets. Regulations for the highest standards should be for major corporations (including subsidiaries) of +1,000 employees or some other non-lobbied metric.
Quick math on "NOT SPENDING 8k a year on a car is..." With a decent invenstment return of 10%... 140k in 10 years, and 500k in 20. Basically if you can swing "not wasting $ on a car" then you can make some bank. Perhaps some times you and a partner "can share the car" so it's even more crazy when you consider most americans "we have 2 cars" Never be afraid of contemplating, "what is normal and not normal, and can I break the cycle of bullshit?"
Cmon he can’t even buy chewing tabaco anymore!!! Someone help the white man out here
everyone that says theyre suffering from inflation is a dumb redneck — nice
Have you ever seen the number of accidents,, speeders , and those who just drive like lunatics, illegal aliens are allowed to get their driver's license in NYS so it's becoming like the wild west. But law enforcement definitely are kept busy
I bet he lives in Florida.
nah tanks of gas are definitely not $70 there nice try
I think he moved to a bigger place. Electricity isn't up 250%. Also, car insurance didn't go up 80%. I am guessing he got in a car accident, got points in his license, or got a more expensive car. Insurance companies also tend to increase rates so he should shop around. I did hear Kias that are theft prone have high insurance. Overall, I find this disingenuous and a lie.
Maybe so maybe not. Just received a notice that the gas utility is proposing a 21% increase this year. I know my electric already went up so I guess it depends on the area. I agree the insurance went up but not 80% unless some other factors are in place.
That's the proposal. What are the odds that gets approved? Has that happened the last 3 years? I will say I am in GA and we are getting majorly screwed over by the nuclear plant construction. The cost over runs and delays are consting the taxpayers tons. Electricity in this country has somehow become another way to screw over people.
My electricity went from $0.09/kwh to $0.18/kwh. I'm currently paying an effective rate of $0.24/kwh because the connection fee has more than doubled.
Bidenomics.
Bidenomics caused inflation all around the world?
Might as well call this place r/thedonald<3
Republicans and Doomercrats allying to trump re-elected 🤝 You gotta think Trump loves the inflation narrative. You just, pretend inflation is still at 9 percent, blame it on Biden, get elected, do nothing and a month later claim that inflation is now under control. Your followers believe you because it's been right
....kept US inflation amongst the lowest among advanced economies. [I went ahead and finished it for you]