Heard something concerning today.

[Darth-Baiter]

@TnRiver46  agreed.  

 

@Bankc is like the oracle sometimes.  a new boat is so far out of the picture for me, d**n near forever.   i can afford it now, but at the cost of my financial security?  nope.  no way.   one roadbump and i would be doomed.  

[Kirtley Howe]

I agree with Bankc, but I think boat makers are being short sighted. What about building a new customer base? It would seem to me that a boat builder would want to make a (reasonably) affordable entry level boat--even if they made very little money on those-- to introduce new customers to boat ownership with the idea being that they would then be more likely to 'move up" to a newer/fancier/more expensive boat at a later date. Sure, boat manufacturers are selling a lot of high end boats right now but their high end customer base is limited, and may soon max out. The manufacturers that can meet the needs of a wider customer base will be much better positioned in the long run.  But, it has been my observation that a lot of companies, no matter what field they are in, are far more concerned with maximizing profits RIGHT NOW than they are with creating a stabile long term business.  It is just so short sighted of them that I could scream. 

[Finessegenics]

On 8/26/2023 at 2:09 AM, Elkins45 said:

Don't be a victim of marketing and consumer envy.

Bingo. I used to be that person, always needed the newest tackle but I realized it was just an ‘addiction’ to spending money. As you mentioned, you don’t need a 20ft bass boat to get out there. Same way I didn’t need hundreds of lures/baits or dozens of rods. 

[Siebert Outdoors]

Shop for deals.  The market is starting to saturate and prices are dropping.  I've seen more rebates come out then the last 3-4 years.  Also look at a good deal used and one of my relatives bought a brand new Phoenix 721 dirt cheap 2023 model in comparison since the dealer needed to move it.  It was almost a steal.  He bought it new cheaper then I've seen a lot of used ones go for. 

[Way2slow]

When the recession hits full force, things will balance out.  Those billions in Covid money will run out.  I don't think wages are going to catch up to inflation, not when it cost $20 just to go through a drive and get two burger meals. 

When I retired in 2011, I was making $29 an hour as a road service tech for one of the forklift companies.  I'm a highly skilled mechanic, have a degree in electronics, very good with hydraulics and electrical, was a millwright and a maintenance superintended at a large manufacturing facility before going into the Air Force.  There was a large local company advertising for skilled maintenance workers and because of the way cost of living has increased, I thought I might give it a shot.  They said the position for a skilled maintenance worker normally started off at $15 an hour but with my qualifications, they could probably get me close to $19 an hour.  I had to laugh in their face, I wouldn't take a janitor's job for that. 

Those kinds of wages are not going to support the average family in this economy even with husband and wife working.

[gimruis]

My friend inquired about a 2023 Lund Adventure 1775 w/115 Merc 4-stroke, a bow mount, 2 graphs, and a trailer in March at a local dealer.  He was quoted $53 grand.  That conversation ended pretty quick.

 

Fast forward to last week, the same dealer contacted him back and said the exact same boat he inquired about last March is down to $39,500.  So just in 6 months, the very same brand new boat has dropped 14,000 dollars.  He is really considering it now.  I have a feeling he will be pulling the trigger in the next month here and the dealer might drop the price even more.

[TnRiver46]

19 minutes ago, Way2slow said:

When the recession hits full force, things will balance out.  Those billions in Covid money will run out.  I don't think wages are going to catch up to inflation, not when it cost $20 just to go through a drive and get two burger meals. 

When I retired in 2011, I was making $29 an hour as a road service tech for one of the forklift companies.  I'm a highly skilled mechanic, have a degree in electronics, very good with hydraulics and electrical, was a millwright and a maintenance superintended at a large manufacturing facility before going into the Air Force.  There was a large local company advertising for skilled maintenance workers and because of the way cost of living has increased, I thought I might give it a shot.  They said the position for a skilled maintenance worker normally started off at $15 an hour but with my qualifications, they could probably get me close to $19 an hour.  I had to laugh in their face, I wouldn't take a janitor's job for that. 

Those kinds of wages are not going to support the average family in this economy even with husband and wife working.

Can you get me a $19/hour janitor job??? Haha

[Bankc]

1 hour ago, TnRiver46 said:

@Bankc, no matter the topic, you always seem to be able to step back and see the bigger picture. I wish I could pay as close attention to the details as you do 

If you're as bad as me at fishing, you have a lot of time to think about things without being distracted by a bent pole.  

[Zcoker]

It's the same way for a nice fishing kayak. I recently got one that cost over 3k when all was said and done. Prices like that would be considered laughable years ago for a plastic kayak. There's really no way around it. If you wanna play, you gotta pay! 

[Way2slow]

I'm told Bucky's BBQ is paying restroom monitors over $20 an hour.

 

Speaking of prices and Kayak's my son has one that's been hanging from the roof of a shelter for at least 10 years if not more.  He don't buy cheap S**** so it's probably a pretty good one if someone close to Brownsville TX is looking for one, he could probably be talked into selling that one.  He's in Hawaii right now won't be back until end of September though.

[1984isNOW]

My cousin scoffed at the idea of ever working, said if he ever got a full time job he'd make less then he does from housing assistance and EBT. Also I know if you go to college they give you less amount on your EBT.

 

The system is designed to keep us separated by class/wealth and make little obedient lemmings who will never challenge the powers that be, can't bite that hand that feeds right?

 

I don't blame business capitalizing on the opportunity to make more money by marketing to the top tier wealth holders. It's the artificial inflation that impacts us regular guys that bothers me, like same team bro chill.

 

I couldn't afford a Jonny bass boat or Pelican Catch pwr a couole years ago, still can't today especially since they've gone up hundreds of dollars.

 

I'm just learning to care a lot less about money, and think if it'll make me or my family happy let's just do it (within reason of course, a bass boat is unreasonable haha)

[DaubsNU1]

On 8/26/2023 at 7:29 AM, Jig Man said:

I used to be the sales manager at a boat dealership.  I only remember 2 cash buyers.  The rest needed financing.  I worked with many banks seeking financing for them.  Their terms and conditions varied according to their credit history.  The truly sad thing was a lot of them needed to include the sales tax as part of the loan and their primary concern was, HOW MUCH IS MY MONTHLY PAYMENT.

 

I wrote a check for my used Lund last month. Wrote a check for our used 5th wheel two years ago. Did financing for my truck...only because it gave me an additional $1,500 off. Then after 6 months, I wrote a check to pay it off. 

 

On track to retire in 9 years, Lord willing. Wife hates payments...only payment we have is mortgage, and we are locked in at 2.84% on a 30 year, which we are paying off early. 

 

It's been a grind, and it is hard some months. It does feel great when I can save, and save and save...and write one check...and NOT have to pay interest. 

[Way2slow]

I look at it like this, you save when you don't need/want to spend.  It makes no sense to save and draw the small interest on that and then make a large purchase for something on credit where the interest is going to be several times greater than what your savings is drawing.

[Bird]

I'm way too hard headed to give 100K for a bass boat, not happening.

Covid made people go crazy and sent them into spending sprees, money they didn't have.

Gonna be upside down for awhile.

 

Paying cash does not make sense if the interest rate of the loan is considerably less than the percentage of invested return on the cash, how I've always done it.

 

Ahhh @Way2slow beat me to it.

 

[slonezp]

On 8/26/2023 at 5:44 AM, Captain Phil said:

I believe much of the current inflation is intentionally created.   For sure, labor and materials cost more, but it seems to be getting out of hand.  My wife and I had breakfast a few weeks ago at a small local restaurant.  All we had was an omelet, some eggs, bacon, toast and coffee. When the bill came, it was $32.  When I questioned the amount, the girl told me that was the price and started telling me about the price of straws.  I told her I don't need a straw!  Needless to say, I'm not going back there.  I bought a car for my wife recently.  The dealer wanted $750 a month for a compact Honda SUV.   That is insane. After 5 hours of haggling and two more dealerships, I walked out with a better car for $32K cash.  You are only a victim if you let it happen.   Buyers need to go on strike.  Only then will we see prices go down.

You've heard of the "Golden Rule"? He who has the gold rules. I got my truck insurance premium toady and my 6yo truck premium is $400 more a year than when it was when I bought the truck new. That's with no tickets or accidents. My insurance carrier gave me the same BS I tell everybody in my industry. Blame it on covid. Blame it on Brandon. 

 

What's happening in my industry (HVAC/R) is master distributors are buying up parts inventories and selling them at a premium. How bad do you want it? I can buy a widget for $1 from the manufacturer and sell it for $2. If the manufacturer is out of stock because the master distributor bought out the inventory, my customer has 2 choices. Wait weeks, possibly months or years, for the part or, pay 4x the normal cost, from the master distributor, and have it in a day or 2. How bad do you want it. 

 

As far as your last statement, "Buyers need to go on strike", That is what the feds have been trying to promote. It doesn't work. The free market has been so bastardized, nothing will work. The more gubmint interference in the economy, the longer it will take to reset itself. 

[TnRiver46]

Thank goodness for canoes! 

[slonezp]

7 hours ago, TnRiver46 said:

Can you get me a $19/hour janitor job??? Haha

I have a part time gig that pays $20 for me to do virtually nothing. I work 50 hours a week at my regular job M-F. The part time gig helps pay for the extra taxes owed from job#1 and to help with the grandson's care as he has no father. 

Part time gig is for the park district. It's voluntary as far as the hours go and first come first served. I spend the bulk of my hours watching Netflix. I do party set up and tear down. I might physically work  3 or 4 hours and get paid for 8 or 9 because a body needs to be on site during the parties. 

[slonezp]

What is a restroom monitor? I'm not going to pay someone to look at my junk. They should be paying me. 

[1984isNOW]

1 hour ago, slonezp said:

You've heard of the "Golden Rule"? He who has the gold rules.

For as long as the concept of value has been around, and Jesus was broke - speaks volumes.

 

It's all smoke and mirrors, the "invisible hand" of the economy, democracy, freedom. We're slaves for a wage to a system we didn't create in a world we have no say at a time we can't change.

 

A boat will always cost more than a regular dude can genuinely afford with reasonable consideration, and there will always be a select group who think of it as a new belt or sneakers.

[Glenn]

Aaaaand scene....