This was a great week for Wall Street and the Feds say the inflation rate ticked down a bit. But we want to know what's really happening on Main Street -- at your small business and others? Have you benefited from these positive economic trends? Or is the reality that costs are still very high and hurting your business? Let us know. (And if you want to contribute to a second, more in-depth survey, go here).
Saying inflation is down is the ultimate spin. Inflation adds up, what is down is the rate of inflation. Prices have not receded in core products, and wages have again stagnated or even reversed. The DOW is not now, nor has it ever been a real indicator of regular people's economic reality. The overwhelming reality is that prices are not coming down, and the forces of major costs (transportation, housing and technology) have no downward pressure because of lack of competition from both an entrepreneurial direction and a negative governmental environment towards startups.
Inflation is down? Really? Everything is more expensive - gas has gone up yet again. I don't see how people working for themselves have the opportunity to thrive.
Inflation is 9% up from 1.4% in 2020, unlike what the media wants us to believe. My business is currently me, working independently, paying rent to work out of my wonderful acupuncturist's office, being eternally grateful for my clients who still choose to support my business even when I have to raise my prices.
The EPA is out of control. Costing our business millions in lost sales this year and hurting the environment they are supposed to be protecting. That is just one of the many agencies hurting our business. I had to fire several 1099 subcontractors as well because of the new DOL regulations. It all adds up to make me not want to stay in business!
why? I can make more not working!
Inflation is down? Seriously? Have you gone to the grocery store recently. My wife and I go food shopping once a month as it is just her and myself know. What used to cost us $200-$220 in Wegmens, Shoprite and Costco, now is up to $300-$370 - for the exactly the same items as before. Please do not talk to me about Inflation and expenses being less or even bottoming out. That is double talk by politicians running for office.
The government is way out of control. They are printing so much money that the dollar will be worthless, and the deficit is 34 trillion. Silver is $31.58 ounce, and Gold is $2,414.40 ounce. This is not over the precious metals market will keep on adjusting upwards. Once the BRICS countries sell all US treasury, it is over for the US. We will have hyperinflation. Term Limits on all politicians in DC they need to go.
Inflation and interest rates are way too high!!!
It is a myth based on Bidenomics!
The biggest impact I see is that small business and individual taxpayers bear the brunt and often are not "in the market". Their costs keeping rising weekly, in many cases and even when government says inflation is down, their cost stay up and their profits pay the price at the net bottom line. Every line item in a small business P n L is up and is staying up. There are people in business that are busier than ever but their checkbook tells the story if they do not have financial statements to see where their costs lie. Many are booked and busy because they are too cheap compared to the costs they are incurring and their net profit is much less than it should be compared to the time spent and investment required.
Costs to produce is still very high. Farmers are paying more for fertilizers, seed, fuel. Equipment costs are at an all-time high. Building materials are still very high, nails and screws even higher. People have gotten upwards of 5% pay raises, inflationary costs are on average 20% higher. So it costs you 15% more wherever you go