Highest inflation since...

[ALF]

The shipping crisis is getting worse. Here's what that means for holiday shopping

 

The vast network of ports, container vessels and trucking companies that moves goods around the world is badly tangled, and the cost of shipping is skyrocketing. That's troubling news for retailers and holiday shoppers.

 

More than 18 months into the pandemic, the disruption to global supply chains is getting worse, spurring shortages of consumer products and making it more expensive for companies to ship goods where they're needed.

 

"The pressures on global supply chains have not eased, and we do not expect them to any time soon," said Bob Biesterfeld, the CEO of C.H. Robinson, one of the world's largest logistics firms.

 

The latest obstacle is in China, where a terminal at the Ningbo-Zhoushan Port south of Shanghai has been shut since August 11 after a dock worker tested positive for Covid-19. Major international shipping lines, including Maersk (AMKBY), Hapag-Lloyd (HPGLY) and CMA CGM have adjusted schedules to avoid the port and are warning customers of delays.

 

https://www.cnn.com/2021/08/23/business/global-supply-chains-christmas-shipping/index.html

[B-Man]

 

 

 

 

 

 

 

[Over 29 years of fanhood]

3 hours ago, B-Man said:

 

 

 

 

 

 

 

Several corporations are starting to miss earnings numbers due to material cost inflation. Rates come next.
 

‘transient’ inflation .. riiiight
 

[All_Pro_Bills]

15 minutes ago, Over 29 years of fanhood said:

Several corporations are starting to miss earnings numbers due to material cost inflation. Rates come next.
 

‘transient’ inflation .. riiiight
 

So companies see their margins fall or they pass on cost increases to customers.  And then their customers have to make purchasing decisions.  What do I need?  And what do I want?  Given a constant income the rational decision is I'll continue to buy what I need but cut back on things that I want.  So the company that makes things people "want" but don't need, consumer discretionary goods see a drop in their sales.  Things like vacations or maybe deciding to squeeze out a year or two more out of that car you drive.  Pretty soon they don't need to produce as much.  So they lay off workers.  And then more companies lay off more workers.  Pretty soon everyone notices unemployment is rising.  And the economy slows.  But workers that still have jobs will want wage increases to keep up with the cost of living.  And those on public assistance or unemployment will need more money to keep even with price increases.  So there will be calls for more government spending.  Which means more borrowing and national debt.  Which causes the dollar to fall and makes imports more expensive.  Imports which we depend on.  So what does the Fed do?  Well normally they would print or create more money to juice the economy.  But that will stoke already high inflation.  So if they do that inflation will go higher.  If they don't the economy will continue to shrink.  Long story short we're screwed.    

Edited September 8, 2021 by All_Pro_Bills

[B-Man]

 

[Tiberius]

2 minutes ago, B-Man said:

 

How bad is this? Do you think we will survive? 

[Big Blitz]

9 minutes ago, B-Man said:

 

 

 

Instead of 5.4 it was 5.3......and it's a win!!

 

Instead of the Bills losing 49-0, they lost 46-0.  

 

 

Your wages have essentially been cut by 3 to 4%

 

Your retirement if you're in your 40s and 50s is not going to look the same.  

[Tiberius]

14 minutes ago, Big Blitz said:

 

 

Instead of 5.4 it was 5.3......and it's a win!!

 

Instead of the Bills losing 49-0, they lost 46-0.  

 

 

Your wages have essentially been cut by 3 to 4%

 

Your retirement if you're in your 40s and 50s is not going to look the same.  

We will have to pay workers more now! 

[The Frankish Reich]

31 minutes ago, Big Blitz said:

 

Your wages have essentially been cut by 3 to 4%

You do realize that a large component of this is wage-push inflation?

[Big Blitz]

7 minutes ago, The Frankish Reich said:

You do realize that a large component of this is wage-push inflation?

 

 

Of course.  Any raise you may have got....completely negated and worse:

 

 

 

U.S. Poverty Rate Rose From 60-Year Low, Incomes Fell Amid Virus (Democrats....self inflicted)

 

 

U.S. household income fell in 2020 while the national poverty rate rose from a 60-year low as the Covid-19 pandemic upended the U.S. economy and threw millions out of work.

 

Median, inflation-adjusted household income decreased 2.9% last year to $67,521 according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate rose one percentage point to 11.4% after having dropped for five straight years and reaching the lowest since 1959 in 2019.

 

https://www.bloomberg.com/news/articles/2021-09-14/u-s-poverty-rate-rose-from-60-year-low-incomes-fell-amid-virus

[The Frankish Reich]

12 minutes ago, Big Blitz said:

 

 

Of course.  Any raise you may have got....completely negated and worse:

 

 

 

U.S. Poverty Rate Rose From 60-Year Low, Incomes Fell Amid Virus (Democrats....self inflicted)

 

 

U.S. household income fell in 2020 while the national poverty rate rose from a 60-year low as the Covid-19 pandemic upended the U.S. economy and threw millions out of work.

 

Median, inflation-adjusted household income decreased 2.9% last year to $67,521 according to annual data released Tuesday by the U.S. Census Bureau. The poverty rate rose one percentage point to 11.4% after having dropped for five straight years and reaching the lowest since 1959 in 2019.

 

https://www.bloomberg.com/news/articles/2021-09-14/u-s-poverty-rate-rose-from-60-year-low-incomes-fell-amid-virus

Wow. 

Right now I can't think of anything unusual about 2020 that could possibly explain this.

Let me know if you come up with something. Otherwise I will have to assume that the Trump Administration is somehow responsible.

[TH3]

1 hour ago, Big Blitz said:

 

 

Instead of 5.4 it was 5.3......and it's a win!!

 

Instead of the Bills losing 49-0, they lost 46-0.  

 

 

Your wages have essentially been cut by 3 to 4%

 

Your retirement if you're in your 40s and 50s is not going to look the same.  

 

1 hour ago, B-Man said:

 

 

On 9/8/2021 at 6:52 PM, All_Pro_Bills said:

So companies see their margins fall or they pass on cost increases to customers.  And then their customers have to make purchasing decisions.  What do I need?  And what do I want?  Given a constant income the rational decision is I'll continue to buy what I need but cut back on things that I want.  So the company that makes things people "want" but don't need, consumer discretionary goods see a drop in their sales.  Things like vacations or maybe deciding to squeeze out a year or two more out of that car you drive.  Pretty soon they don't need to produce as much.  So they lay off workers.  And then more companies lay off more workers.  Pretty soon everyone notices unemployment is rising.  And the economy slows.  But workers that still have jobs will want wage increases to keep up with the cost of living.  And those on public assistance or unemployment will need more money to keep even with price increases.  So there will be calls for more government spending.  Which means more borrowing and national debt.  Which causes the dollar to fall and makes imports more expensive.  Imports which we depend on.  So what does the Fed do?  Well normally they would print or create more money to juice the economy.  But that will stoke already high inflation.  So if they do that inflation will go higher.  If they don't the economy will continue to shrink.  Long story short we're screwed.    

 

 

Whoa...must be tough for you guys...what are you cutting back on? 

Want to know....I made more money last year than ever...I did go to the grovery store yesterday and notice it seemed higher....doens't much matter to me though

 

[B-Man]

 

 

Correct spelling would help your claim of "success"

 

11 minutes ago, TH3 said:

 

Want to know....I made more money last year than ever...I did go to the grovery store yesterday and notice it seemed higher....doens't much matter to me though 

 

 

 

[TH3]

14 minutes ago, B-Man said:

 

 

Correct spelling would help your claim of "success"

 

 

 

On this board? My poor use of of spell check is dwarfed by the lack of basic ecomomic knowledge by you 3 clowns

[Doc]

50 minutes ago, The Frankish Reich said:

Wow. 

Right now I can't think of anything unusual about 2020 that could possibly explain this.

Let me know if you come up with something. Otherwise I will have to assume that the Trump Administration is somehow responsible.

 

No, it's all on the current administration.

[The Frankish Reich]

17 minutes ago, Doc said:

 

No, it's all on the current administration.

Correct. The fact that he wasn't President throughout all of 2020 shouldn't exempt him from blame. This fact that the Democratic House passed a huge stimulus bill so the economy wouldn't totally collapse under Trump doesn't mean that they didn't try to use their secret wizardry to tank the economy in 2020 so that Trump would lose. The fact that the Federal Reserve took all types of extraordinary actions to prop up the economy in 2020 doesn't mean that they, as charter members of the Deep State, didn't do everything in their power to make sure Trump lost.

Such is the logic of a certain type of person ...

[Doc]

36 minutes ago, The Frankish Reich said:

Correct. The fact that he wasn't President throughout all of 2020 shouldn't exempt him from blame. This fact that the Democratic House passed a huge stimulus bill so the economy wouldn't totally collapse under Trump doesn't mean that they didn't try to use their secret wizardry to tank the economy in 2020 so that Trump would lose. The fact that the Federal Reserve took all types of extraordinary actions to prop up the economy in 2020 doesn't mean that they, as charter members of the Deep State, didn't do everything in their power to make sure Trump lost.

Such is the logic of a certain type of person ...

 

Doesn't matter.  Trump didn't cause the Wuhan virus invasion last year and it's become apparent in Biden's first 8 months that nothing would have changed with Hillary in office last year.  Never mind that Biden ran on the claim that he would stop Wuhan virus.  Yet here we are, despite having a vaccine, with rising cases and deaths.

 

Sorry, you can't have it both ways.

[Big Blitz]

The purse has been controlled by Democrats since 2018 and the Never Trump establishment that enabled Covid self inflicted economic chaos and disaster.  

 

Did Trump help?  Well, let's say if he wasn't under 24/7 impeachment with Russia and then Covid hysteria in an election year  - a coup I'm sure he knows why - didn't really give him any options.  

 

 

 

 

Your inflation is 99.8% (your chance of surviving covid) on the CCP/DNC 

[B-Man]

 

 

BIDENFLATION: 

 

Grocery prices to rise another 3% before the end of year, Kroger warns with cost of beef already up 14% and pork 12% since December.

 

https://www.dailymail.co.uk/news/article-9982927/Grocery-prices-expected-rise-3-end-year-Kroger-warns.html

 

 

[SCBills]

6 minutes ago, B-Man said:

 

 

BIDENFLATION: 

 

Grocery prices to rise another 3% before the end of year, Kroger warns with cost of beef already up 14% and pork 12% since December.

 

https://www.dailymail.co.uk/news/article-9982927/Grocery-prices-expected-rise-3-end-year-Kroger-warns.html

 

 

If it makes you feel better, Biden said today that gas prices should have been going down and it’s something they’re going to be looking into.. blames high prices on “bad actors”. 

 

Whatever that gibberish means. 
 

 

Edited September 16, 2021 by SCBills

[Backintheday544]

21 minutes ago, B-Man said:

 

 

BIDENFLATION: 

 

Grocery prices to rise another 3% before the end of year, Kroger warns with cost of beef already up 14% and pork 12% since December.

 

https://www.dailymail.co.uk/news/article-9982927/Grocery-prices-expected-rise-3-end-year-Kroger-warns.html

 

 

Since you posted this, a couple questions:

 

1. What product is causing the surge in prices?

 

2. What’s August’s CPI look like?

 

 

[B-Man]

 

 

 

 

 

 

 

 

 

[Over 29 years of fanhood]

On 9/16/2021 at 7:06 PM, Backintheday544 said:

Since you posted this, a couple questions:

 

1. What product is causing the surge in prices?

 

2. What’s August’s CPI look like?

 

 

For one the answer is excess liquidity, for 2 it’s sure as hell not “transient”. 
 

So inflation deniers is a thing now? 

[Backintheday544]

8 hours ago, Over 29 years of fanhood said:

For one the answer is excess liquidity, for 2 it’s sure as hell not “transient”. 
 

So inflation deniers is a thing now? 

Read the article. B-Man does all this work to curate content you should at least read it:

 

1. “It came as White House statistics last week revealed that a surge in meat prices is responsible for half of the price increase for food at home since December 2020.” so the answer to 1 is meat.

 

2. “The statistics for August's CPI are expected to be released this week. ” You resurrected a 2 week old post so August CPI is out now.

[Precision]

Longtime lurker, first post.

 

29 Years is correct.  For those who want to educate themselves on what excess liquidity can do to an economy read "When Money Dies" by Adam Ferguson....

 

"In 1923, German currency became effectively worthless: the exchange rate in December of that year was one US dollar to 4200 trillion marks."   

 

Germany kept printing money to fund social services and keep the populace happy (sound familiar).  At the end this is where they were....

 

“In hyperinflation, a kilo of potatoes was worth, to some, more than the family silver; a side of pork more than the grand piano. A prostitute in the family was better than an infant corpse; theft was preferable to starvation; warmth was finer than honor, clothing more essential than democracy, food more needed than freedom.”

Edited October 1, 2021 by Precision

[Backintheday544]

3 hours ago, Precision said:

Longtime lurker, first post.

 

29 Years is correct.  For those who want to educate themselves on what excess liquidity can do to an economy read "When Money Dies" by Adam Ferguson....

 

"In 1923, German currency became effectively worthless: the exchange rate in December of that year was one US dollar to 4200 trillion marks."   

 

Germany kept printing money to fund social services and keep the populace happy (sound familiar).  At the end this is where they were....

 

“In hyperinflation, a kilo of potatoes was worth, to some, more than the family silver; a side of pork more than the grand piano. A prostitute in the family was better than an infant corpse; theft was preferable to starvation; warmth was finer than honor, clothing more essential than democracy, food more needed than freedom.”

What stats point to excess liquidity?

 

Thinking basic Econ supply and demand, we have a massive strain on supply. Global supply is hurt. Decrease in supply with same demand will push prices up.

 

And this isn’t a US problem. It’s a global problem right now.

 

From a labor standpoint, we need a thread on the Great Resignation. In my opinion, there will not be a great economic impact in our generation than the Great Resignation.

[Irv]

2 minutes ago, Irv said:

Demented Biden has ruined a once great country in less than eight months.  $3.5T cost nothing.  Huh?   What a demented idiot.  

 

What

A

Mess

 

Edited October 1, 2021 by Irv

[B-Man]

 

 

As Inflation Fears Rise, Biden Starts Looking For Scapegoats

Issues & Insights, by The Editorial Board

 

You know inflation is a problem when it gets harder to find something for $1 at Dollar Tree stores.

 

And that’s exactly what’s happening as the discount chain announced that many of its goods would carry a price of up to $1.50. There’s been more bad news on the inflation front this week, so, naturally, Biden is looking for someone or something else to blame – other than his own economic policies. As soon as Biden conjured up his reckless $1.9 trillion “rescue” plan, economists left and right said that pumping that much deficit-financed spending into a fast-growing economy risked sparking an inflationary spiral,

 

https://issuesinsights.com/

 

 

 

[Precision]

On 9/30/2021 at 11:57 PM, Backintheday544 said:

What stats point to excess liquidity?

 

Thinking basic Econ supply and demand, we have a massive strain on supply. Global supply is hurt. Decrease in supply with same demand will push prices up.

 

And this isn’t a US problem. It’s a global problem right now.

 

From a labor standpoint, we need a thread on the Great Resignation. In my opinion, there will not be a great economic impact in our generation than the Great Resignation.

I am unaware of any "liquidity" stats that are published but I will provide the following..... 

 

The bottom 3 graphs are generated by the Federal Reserve of St. Louis.  The first graph (M0) is US currency in circulation (bills and coins).  The second graph(M2) is all US monies (this includes M0, as well as currency in electronic form).  The third graph is US GDP.  The "monies" in circulation should track GDP, at least somewhat but they don't.  Look how much money was put into circulation in just the past year!

 

 

 

 

 

 

 

[B-Man]

 

 

 

WELCOME BACK, CARTER: 

 

Key inflation gauge watched by the Federal Reserve hits another 30-year high.

 

https://www.cnbc.com/2021/10/01/key-inflation-gauge-watched-by-the-federal-reserve-hits-another-30-year-high.html

 

 

 

 

 

[ALF]

The workers who keep global supply chains moving are warning of a 'system collapse'

 

https://www.cnn.com/2021/09/29/business/supply-chain-workers/index.html

 

It will take time to train new truck drivers to replace the many who retired. Can't off load ships when trucks not available to haul away each container. 

[Over 29 years of fanhood]

5 hours ago, ALF said:

The workers who keep global supply chains moving are warning of a 'system collapse'

 

https://www.cnn.com/2021/09/29/business/supply-chain-workers/index.html

 

It will take time to train new truck drivers to replace the many who retired. Can't off load ships when trucks not available to haul away each container. 

Who wants to drive a truck when you can make 30k-40k year doing nothing except filing out an occasional form? 

[ALF]

6 minutes ago, Over 29 years of fanhood said:

Who wants to drive a truck when you can make 30k-40k year doing nothing except filing out an occasional form? 

 

Link ?

[Albwan]

8 hours ago, ALF said:

The workers who keep global supply chains moving are warning of a 'system collapse'

 

https://www.cnn.com/2021/09/29/business/supply-chain-workers/index.html

 

It will take time to train new truck drivers to replace the many who retired. Can't off load ships when trucks not available to haul away each container. 

Yea THAT'S the reason the economy is in the shitter.

 

lol.

[ALF]

3 hours ago, Albwan said:

Yea THAT'S the reason the economy is in the shitter.

 

lol.

 

Yea it's called covid thanks to China

[Irv]

Demented Biden paying people not to work.  Gee I wonder why the economy so so screwed up.

 

 

What

A

Mess

[B-Man]

 

Gas Prices Hit 7-Year High.

 

 

https://freebeacon.com/latest-news/gas-prices-hit-7-year-high/

[dpberr]

25 minutes ago, B-Man said:

 

Gas Prices Hit 7-Year High.

 

 

https://freebeacon.com/latest-news/gas-prices-hit-7-year-high/

I read (I believe in Bloomberg) that coal mining is booming because of natural gas prices and shortages abroad.  Coal mines here in the US can't find enough miners to meet the surge in demand for coal.

 

Oh the irony that Joe Biden of all Presidents since Eisenhower may be responsible for the resurgence of the US coal industry.  

[SoCal Deek]

3 hours ago, B-Man said:

 

Gas Prices Hit 7-Year High.

 

 

https://freebeacon.com/latest-news/gas-prices-hit-7-year-high/

And yet liberals claim to be the champions of the working class.   Hey Joe......AOC is NOT the working class! 

[Backintheday544]

On 10/4/2021 at 8:16 AM, Irv said:

Demented Biden paying people not to work.  Gee I wonder why the economy so so screwed up.

 

 

What

A

Mess

Y’all know we have decent data that the Republican states that ended the enhanced unemployment early are still seeing massive labor shortages right?

 

For labor, this isn’t a Biden thing. This isn’t a Trump thing. This is a fundamental shift in the US labor market that’s going on right now. 
 

It was something that was going on as we saw boomers starting to transition out of the labor market and the newer generations with different values come up. Instead of a slow process on the change, COVID threw gas on a fire to speed it up.