Inflation

[Nomad]

I can’t believe we don’t have an inflation tread so here it is . The talking heads simply say it’s  7.5% which is higher then it’s been in 40 years . Wrong, the CPI is always adjusting what it measures  and how it measures inflation , so to compare to 40 years ago and get an honest comparison,you’d have to use the methods used back then . When you do that it comes out closer to 12% ,or so I’ve read .

let’s hear your stories 

 

[wolc123]

The best thing about it, is that it should help sink lots of Democrats, in the mid term elections.  

[Northcountryman]

Maybe-If we survive it, that is ....

[left field]

I'm not an economist so can't speak with any authority, but while it's probably multifaceted, never underestimate the power of some good old greed when it comes to prices.

In 2020, the price of plywood went up by 15% on in-store stock at my local lumberyard in a day. Why? Because they could. 

Or this.

https://www.washingtonpost.com/business/2022/02/12/ford-gm-dealer-markups/

And this is interesting. CEOs talking about raising prices during earning reports calls.

Maybe easier to blame Trump. Or Biden. Or both.

[GreeneHunter]

5 hours ago, wolc123 said:

The best thing about it, is that it should help sink lots of Democrats, in the mid term elections.  

Maybe all Democrats unless we have to keep a few as Tokens ?

[Four Seasons]

2 hours ago, GreeneHunter said:

Maybe all Democrats unless we have to keep a few as Tokens ?

It would take a pretty stupid person to vote anything Democrat at this point. Right now there are only 2 democrats in charge with any kind of common sense. 

[Nytracker]

On 2/12/2022 at 9:26 PM, Four Seasons said:

It would take a pretty stupid person to vote anything Democrat at this point. Right now there are only 2 democrats in charge with any kind of common sense. 

Ummmmm who ?

[Northcountryman]

9 minutes ago, Nytracker said:

Ummmmm who ?

Probably referring to Manchin and Sinema, right?  lol

[Nomad]

How’s your heating bill ?

https://www.whec.com/news/rgande-offers-help-suggestions-for-customers-stunned-by-big-bills-/6392307/?cat=565

[ncountry]

22 minutes ago, Nomad said:

How’s your heating bill ?

https://www.whec.com/news/rgande-offers-help-suggestions-for-customers-stunned-by-big-bills-/6392307/?cat=565

I've been through 1/2 of my $750.00 of coal.;)

[Kmartinson]

Inflation soaring.... real

Democrats responsible, possibly but not anymore responsible than the rest of the failed system. Republicans make deals that also create inflation. My 40 years alive the cost of everything has never went down. Snl bailout was during a conservative administration, and I believe Bush Jr. Ok'd an auto industry bailout also.... this is a totally corrupt system, not just one team or the other. Our deficit continues to grow but some times it takes a while to show in the outward economy.

[Nomad]

As far as gasoline prices, keep in mind we’re using winter gas now , a cheaper blend for cold weather . Summer gas runs about 25 cents more a gallon . 

[farmer 52]

13 minutes ago, Nomad said:

As far as gasoline prices, keep in mind we’re using winter gas now , a cheaper blend for cold weather . Summer gas runs about 25 cents more a gallon . 

What the hell---Thanks for the good news.

[Nytracker]

Honestly who do you blame for inflation . 

15 plus dollars an hour minimum wage . These jobs were never ment to be living wages they were for school age kids to make some money while at home or school.  ... or a side job .

3 trillion dollar welfare/ stimulus checks .  It's all funny money ... no value  as it wasnt earned.  Just print some more ....

 Regulate  the oil and coal industry to death  driving the crude barrel prices up driving material costs up... delivery prices up .

Shut down country with covid mandates causing supply chain disruptions and material shortages. 

Pretty easy to see where it's coming from. 

[Four Seasons]

1 hour ago, Kmartinson said:

Inflation soaring.... real

Democrats responsible, possibly but not anymore responsible than the rest of the failed system. Republicans make deals that also create inflation. My 40 years alive the cost of everything has never went down. Snl bailout was during a conservative administration, and I believe Bush Jr. Ok'd an auto industry bailout also.... this is a totally corrupt system, not just one team or the other. Our deficit continues to grow but some times it takes a while to show in the outward economy.

Compare your living and prices today and where you were 2 years ago. And like you said… It won’t go backwards…. We have 2 plus more years of it going up up up.

[Nomad]

Summer vs winter gas 
https://www.gasbuddy.com/go/summer-blend-and-winter-blend-gasoline

[GreeneHunter]

Just now, Nomad said:

Summer vs winter gas 
https://www.gasbuddy.com/go/summer-blend-and-winter-blend-gasoline

 

[squirrelwhisperer]

4 hours ago, ncountry said:

I've been through 1/2 of my $750.00 of coal.;)

I have an oil delivery coming tomorrow. 200 gallons = $750 ($743.28 to be exact)

whoever voted for this asshat owes me $$

 

[squirrelwhisperer]

2 hours ago, Nytracker said:

Honestly who do you blame for inflation . 

Anyone who voted against Trump 

[phantom]

10 hours ago, squirrelwhisperer said:

I have an oil delivery coming tomorrow. 200 gallons = $750 ($743.28 to be exact)

whoever voted for this asshat owes me $$

 

Yeah and the sad part is there are plenty of videos  of  brandon  and them saying they were going to do this ,make energy expensive . And people voted for him anyway

 

[Steuben Jerry]

Filled the Tundra tank yesterday. Pump shut off at $100.00 and the needle didn’t even reach full. Didn’t feel like redoing the transaction to fill it all the way. It was $3.65 per gallon. I drove by the same station an hour later and they were changing the signs to $3.69.

Aren’t times grand now?

[Grouse]

Consumers felt the price squeeze in everyday routines. Over the past year, prices rose 41% for used cars and trucks, 40% for gasoline, 18% for bacon, 14% for bedroom furniture, 11% for women's dresses.

The Federal Reserve didn't anticipate an inflation wave this severe or this persistent. In December 2020, the Fed's policymakers had forecast that consumer inflation would stay below their 2% annual target and end 2021 at around 1.8%.

But after having been an economic afterthought for decades, high inflation reasserted itself last year with brutal speed. In February 2021, the government’s consumer price index was running just 1.7% ahead of its level a year earlier. From there, the year-over-year price increases accelerated steadily — 2.7% in March, 4.2% in April, 4.9% in May, 5.3% in June.

By October, the figure was 6.2%, by November 6.8%, by December 7.1%.

For months, Fed Chair Jerome Powell and others characterized higher consumer prices as merely a “transitory” problem — the result, mainly, of shipping delays and temporary shortages of supplies and workers as the economy rebounded from the pandemic recession much faster than anyone had anticipated.

Now, many economists expect consumer inflation to remain elevated well into this year, with demand outstripping supplies in numerous areas of the economy.

So the Fed has radically changed course. Last month, the central bank signaled that it will begin a series of rate hikes in March. By doing so, the Fed is moving away from the super-low rates that helped revive the economy from 2020's devastating pandemic recession but that also helped fuel surging consumer prices.

When the pandemic paralyzed the economy in the spring of 2020 and lockdowns kicked in, businesses closed or cut hours and consumers stayed home as a health precaution, employers slashed a breathtaking 22 million jobs. Economic output plunged at a record-shattering 31% annual rate in 2020's April-June quarter.

Everyone braced for more misery. Companies cut investment and postponed restocking. A brutal recession ensued.

But instead of sinking into a prolonged downturn, the economy staged an unexpectedly rousing recovery, fueled by vast infusions of government aid and emergency intervention by the Fed, which slashed interest rates, among other things. By spring of last year, the rollout of vaccines had emboldened consumers to return to restaurants, bars, shops and airports.

Suddenly, businesses had to scramble to meet demand. They couldn’t hire fast enough to fill job openings — a near record 10.9 million in December — or buy enough supplies to meet customer orders. As business roared back, ports and freight yards couldn’t handle the traffic. Global supply chains became seized up.

With demand up and supplies down, costs rose. And companies found that they could pass along those higher costs in the form of higher prices to consumers, many of whom had managed to sock away a ton of savings during the pandemic.

Elevated consumer price inflation will likely endure as long as companies struggle to keep up with consumers’ demand for goods and services. A recovering job market — employers added a record 6.7 million jobs last year and tacked on 467,000 more in January — means that many Americans can continue to splurge on everything from lawn furniture to electronics.

[Nomad]

[Grouse]

This inflation problem was not caused by businesses but by a government spending spree. Cutting government spending and raising interest rates may be the only real way to bring inflation back down, something Democrats are loathe to do.

[Kmartinson]

On 2/14/2022 at 12:16 PM, Four Seasons said:

Compare your living and prices today and where you were 2 years ago. And like you said… It won’t go backwards…. We have 2 plus more years of it going up up up.

We I have a whole lifetime of it going up... it never goes down. You love to blame this administration but it's a total broken system. Keep blaming the other side and ignoring the real problem. Just what all greedy politicians want.