Inflation.......... ?

[NoDopes]

So, after congress refusing to buy oil when Trump requested it when it was cheap, the current retard that just released a bunch to prop up his falling poll numbers, now wants to buy a bunch at extremely high prices.

First on CNN: Biden administration launches plan to refill emergency oil reserve

The Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's emergency oil reserve, an Energy Department official told CNN.

www.cnn.com

 

[Hobo Hilton]

So, after congress refusing to buy oil when Trump requested it when it was cheap, the current retard that just released a bunch to prop up his falling poll numbers, now wants to buy a bunch at extremely high prices.

First on CNN: Biden administration launches plan to refill emergency oil reserve

The Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's emergency oil reserve, an Energy Department official told CNN.

www.cnn.com

I wonder where he will get the Rubles to pay for it ?

 

[Bigfatcock]

I wonder where he will get the Rubles to pay for it ?

A few more months of this inflation, and I’ll be able to get my F-250 and Camaro for for prices I find reasonable.

 

[babyguppy]

Biden will buy the oil through a third party,, probably Cuba. Cuba will then buy it from Venezuela, Russia, Iran, or some other Hard core dictatorship that the Dems want to keep in power.

 

[NoDopes]

And, Hunter will get a billion dollar brokers fee.

 

[NoDopes]

ANOTHER BIDEN RECORD: Diesel Hits New Record High on Thursday | The Gateway Pundit | by Jim Hoft

Diesel prices hit a new all-time high on Thursday.

www.thegatewaypundit.com

 

[Bigfatcock]

Oof. Middle class is going to be broke as fuck.

 

[Hobo Hilton]

Oof. Middle class is going to be broke as fuck.

Times like this make me glad I'm a member of the "Poor's"....... I don't have as far to fall

 

[Bigfatcock]

Times like this make me glad I'm a member of the "Poor's"....... I don't have as far to fall

I just don’t see any of today’s prices on anything being sustainable much longer.

 

[Hobo Hilton]

I just don’t see any of today’s prices on anything being sustainable much longer.

We aren't even being told "Prices are leveling off".... Discouraging. Reading the local grocery store sales papers while looking for beef to cook.... cheapest cuts, on sale are $6-8 / lb and eggs are $5 / dozen.

 

[devildog93]

We aren't even being told "Prices are leveling off".... Discouraging. Reading the local grocery store sales papers while looking for beef to cook.... cheapest cuts, on sale are $6-8 / lb and eggs are $5 / dozen.

The eggs are a surprise. I assumed it would trickle down to everything eventually, but we had been dehydrating the crap out of eggs and was hoping to beat the deadline so to speak. Easy way to store protein for sure, but now getting more and more costly by the day, I guess it is on to the next thing. Fish and shrimp are still reasonable, so off to those until they get hammered.

 

[Hobo Hilton]

Worldwide

Tokyo consumer prices rise at fastest pace in 7 years

Core consumer prices in Tokyo, considered a leading indicator of Japanese price trends, rose 1.9% in April from a year earlier, marking the fastest annual pace in seven years, government data showed on Friday.

www.reuters.com

 

[Hobo Hilton]

Shell posts record quarterly profit, lifted by energy price surge

Shell on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.

www.reuters.com

Conoco posts a five-fold profit leap, raises shareholder returns

U.S. oil producer ConocoPhillips on Thursday reported a first-quarter profit that jumped five-fold and exceeded Wall Street estimates on higher energy prices and volumes.

www.reuters.com

 

[Oldloser]

I do 6 month reviews with our vendors, have a lot of renewals in this quarter and its not good at all. No good news anywhere. Everyone is getting caught in the squeeze. Inflation is beginning to hammer balance sheets for all sectors and large and small businesses. IT Vendors want three year renewals and are asking for 10-15% increase or more.

Chips are not available or we must supply a 1 year look ahead before they will build. Steel is in short supply or its twice what we'd planned. Subs are all reporting shortages or a cost increase that is very very high.

Firms are bidding up labor to complete projects in the pipeline. Or are shedding workforce. Lots and lots of smaller governments and school boards are going to slash workforce too.

its not going to get better for 18-24 months at least.

 

[Hobo Hilton]

I do 6 month reviews with our vendors, have a lot of renewals in this quarter and its not good at all. No good news anywhere. Everyone is getting caught in the squeeze. Inflation is beginning to hammer balance sheets for all sectors and large and small businesses. IT Vendors want three year renewals and are asking for 10-15% increase or more.

Chips are not available or we must supply a 1 year look ahead before they will build. Steel is in short supply or its twice what we'd planned. Subs are all reporting shortages or a cost increase that is very very high.

Firms are bidding up labor to complete projects in the pipeline. Or are shedding workforce. Lots and lots of smaller governments and school boards are going to slash workforce too.

its not going to get better for 18-24 months at least.

We are in agreement.... I can lump it all together and call it "Deja Vu". Sounds like you have survived a few recessions yourself. I feel this will be the longest recession of my life time due to it being Worldwide and not confined just to America. The USA can't pull every other country out of the ditch. If we try, there will be no one to pull America out of the ditch. The $$$ printing presses need to be shut down for 6 months and allow people to come to their senses...

The businesses like yours will soon shift to "Time and Material" + Profit..... Those that don't will go down the tube. Time for every American to take care of # 1.....

 

[lariat]

Economists are asking the US to report inflation by income

 

[lariat]

I just don’t see any of today’s prices on anything being sustainable much longer.

The issue is that they will sustain. But your wallet wont. There are simply too many variables surrounding the supply and demand curves that are causing the intersection of them to be much higher - exogenous factors such as monetary inflation and reduced production due to war, etc mixed with increasing demand (mouths to feed from immigration, etc) are causing a more fierce competition for those resources. The winner is the one who will put down the dollars. Those who are not willing have to either find an alternative or do without. This is the macroeconomic side that everyone sees and intuitively takes part in by choosing where their dollars go.

It could be argued that to some degree what many are upset about isn't the unavailability of alternatives, but the misalignment of expectations and desire to their economic reality. I'm not suggesting that it isn't real (because it is very real), I am saying that this is simply how it plays out. Everyone is finding it harder to buy what they want and need, but it is the "wants" that can be psychologically disturbing. We know that at least for now they are "wants" because we have not seen bread lines, although there are some that are beginning to suffer in the lower end of the economic ladder.

 

[lariat]

But seriously, it's going to be fucking hilarious when these people have to go refi their mortgages in five years when David Stockman Part II has jacked rates up into the mid-teens, and oh yeah, their home is also worth only half as much as when they bought it.

We have seen this play out before. People will buy ARMs thinking one of two things: the price will go up and they can sell or they think that thier current economic situation will be the same AND interest rates will lower or the same. Yes, they can be this ignorant on how it all works. My issue is that the lending institutions are engaging in this. Again.

 

[Hobo Hilton]

Economists are asking the US to report inflation by income

Look at it this way..... Take an Economists, strip him down to his underwear... Give him a Kabar and a flint stick...... Drop him in a National forest in the Western USA... Observe his fieldcraft.
Would you give him any control over any part of your life ?

 

[Hobo Hilton]

We have seen this play out before. People will buy ARMs thinking one of two things: the price will go up and they can sell or they think that thier current economic situation will be the same AND interest rates will lower or the same. Yes, they can be this ignorant on how it all works. My issue is that the lending institutions are engaging in this. Again.

Deja Vu

 

[NoDopes]

Diesel fuel is in short supply as prices surge — Here's what that means for inflation

Diesel powers the economy with trains, trucks and tankers all using the fuel. And with prices soaring, consumers are paying more.

www.cnbc.com

Kloza said diesel at New York harbor is now trading around $5 per gallon, while jet fuel prices at the harbor, which usually mirrors diesel prices, are around $6.72. That equates to roughly $282 per barrel. “These are numbers that are not just off the charts. They’re off the walls, out of the building, and maybe out of the solar system,” he said. Retail diesel prices are also surging. On Friday the national average for a gallon hit a record of $5.51, according to AAA, after hitting a new high every single day over the last week.

 

[Bigfatcock]

Gas prices: 66% of Americans are making 'significant' habit changes: Survey

High gas prices are changing driving and vehicle usage among American households according to a recent Yahoo/Maru Public Opinion survey.

www.yahoo.com

Duh.

 

[E. Bryant]

Diesel hit $5.40 before the weekend. But gas is at $4.40, so on a purely relative basis, I'm farther ahead with the oil-burner than I was at the beginning of this stupidity.

 

[Bigfatcock]

Decreased immigration is contributing to rising prices and heightened inflation as businesses struggle to find necessary staff amid labor crunch

Immigration rates have dropped significantly in recent years, translating to shortages of workers across several industries, the AP reported.

www.yahoo.com

At first I though this was satire, but it’s not. Holy shit, not having illegals to suppress wages causes inflation because…companies have to pay higher wages which is really just passed down to the consume.

I can’t believe they outright said that illegals are great for wage suppression.

 

[Hobo Hilton]

Decreased immigration is contributing to rising prices and heightened inflation as businesses struggle to find necessary staff amid labor crunch

Immigration rates have dropped significantly in recent years, translating to shortages of workers across several industries, the AP reported.

www.yahoo.com

At first I though this was satire, but it’s not. Holy shit, not having illegals to suppress wages causes inflation because…companies have to pay higher wages which is really just passed down to the consume.

I can’t believe they outright said that illegals are great for wage suppression.

Written by NICHOLAS RICCARDI
He's attempting to get a lot of people to click on the article so the AP does not fire his ass... Reading his bio he's worked for 8 - 10 news agencies.... A nothing burger.

 

[Hobo Hilton]

Tough farming conditions and supply chain issues creating potato shortage and price hike

With supply chain and environmental issues making farming tougher, many potato farmers are worried about rising prices and shortages impacting shoppers across the country.

www.kpax.com

 

[Hobo Hilton]

I know CNN.... But their grocery numbers jive with my shopping cart today.

Here's what's getting more expensive at the grocery store

Inflation may be slowing just a bit, but food prices are on fire.

www.cnn.com

 

[E. Bryant]

I know CNN.... But their grocery numbers jive with my shopping cart today.

Here's what's getting more expensive at the grocery store

Inflation may be slowing just a bit, but food prices are on fire.

www.cnn.com

The big deal with this story is that sources like CNN are hammering the administration on this problem. Anytime that the mainstream media is willing to criticize a standing Democrat president - even if mildly and indirectly - it's worth a pause to consider the story's true motivation (which is almost never to simply inform the public). This is especially true leading up to a crucial midterm election.

 

[Hobo Hilton]

The big deal with this story is that sources like CNN are hammering the administration on this problem. Anytime that the mainstream media is willing to criticize a standing Democrat president - even if mildly and indirectly - it's worth a pause to consider the story's true motivation (which is almost never to simply inform the public). This is especially true leading up to a crucial midterm election.

We have evolved into a society that must place blame on other's for our misfortunes. Many times in my trade I had to re-work other's sloppy workmanship that had not passed quality control. There was never any doubt who preformed the sub-par work... The reality of the situation was "it is what it is". The sooner I made my move to correct the situation, the sooner the project could move towards a successful completion.

As we start a new day and take stock of our lives, "it is what it is". We can complain until noon and then work to correct the situation or we can start early, deal with it and move on.

Here on the homestead I have deer that will destroy a garden. I'll be working on putting up deer fence or hot wires to keep the deer out of the garden. The deer don't care if I blame them or not. Similar to the politician's in DC.

 

[Bigfatcock]

Why the Fed wants corporate America to have a hiring freeze

Here's what to watch in the markets on Thursday, May 12, 2022.

www.yahoo.com

Lol. They want to help stop inflation by paying less. They are outright saying that they need wage suppression so wage slaves are broke as fuck.

 

[E. Bryant]

Why the Fed wants corporate America to have a hiring freeze

Here's what to watch in the markets on Thursday, May 12, 2022.

www.yahoo.com

Lol. They want to help stop inflation by paying less. They are outright saying that they need wage suppression so wage slaves are broke as fuck.

Well, suppressing wages for the past two decades gave the Fed the freedom to print whatever they wanted over that same timespan - so why not run the same playbook? If you don't like that idea, just take whatever post-tax earnings remain and invest in algorithmic stablecoin, just like Grandpa did to supplement his pension.

 

[Hobo Hilton]

Why the Fed wants corporate America to have a hiring freeze

Here's what to watch in the markets on Thursday, May 12, 2022.

www.yahoo.com

Lol. They want to help stop inflation by paying less. They are outright saying that they need wage suppression so wage slaves are broke as fuck.

The "Hope Plan" does not seem to be working.

 

[babyguppy]

I know CNN.... But their grocery numbers jive with my shopping cart today.

Here's what's getting more expensive at the grocery store

Inflation may be slowing just a bit, but food prices are on fire.

www.cnn.com

I call BS on most of these numbers. I'm not sure where they got their low balled numbers.
For example CNN quotes eggs have risen +22.6%
Well, in my neck of the woods, Sams club, 7.5 dozen in the last year have gone from 10 to 26.00.
now, using common core math.. I guess that's about 22% because CNN said so.
but using real math (end-beg)/beg I come up with 160%. yup went from a little over a dollar a dozen to over almost 4 dollars a dozen.
Edit - don't worry, after prices max out another 400%, CNN will tell you how everything is great since prices have only risen 1% over the previous year

 

[lariat]

Ukraine Cuts Off Gas to Europe and the Inflation Double Whammy | The Gateway Pundit | by Larry Johnson

You read that right.

www.thegatewaypundit.com

 

[Vodoun daVinci]

Yup. BS. My Wife and I have a system we have used for many years - decades. It goes like this - when we shop for food (specifically) we put the receipt in a queue and when she has time she inputs the price we paid for our most common/core food items into a spreadsheet. Ground turkey, cottage cheese, pickles, 1/2&1/2, lunchmeat, carrots, cabbage, etc. We can literally track what we have paid for items since the very early '80's with a spreadsheet.

We have been being lied to for decades about "real" inflation and my numbers right now, where I live, are about double the Government numbers. Really reminds me of 1979. Every time we go to the store a can of green beans goes up. And up....the lunch meat I buy has doubled in price since January.

VooDoo

 

[babyguppy]

Yup. BS. My Wife and I have a system we have used for many years - decades. It goes like this - when we shop for food (specifically) we put the receipt in a queue and when she has time she inputs the price we paid for our most common/core food items into a spreadsheet. Ground turkey, cottage cheese, pickles, 1/2&1/2, lunchmeat, carrots, cabbage, etc. We can literally track what we have paid for items since the very early '80's with a spreadsheet.

We have been being lied to for decades about "real" inflation and my numbers right now, where I live, are about double the Government numbers. Really reminds me of 1979. Every time we go to the store a can of green beans goes up. And up....the lunch meat I buy has doubled in price since January.

VooDoo

Don't forget, under Obama, they kept the price point the same on a lot of food, and reduced content size.

 

[Vodoun daVinci]

They have been doing that all along...the lunchmeat I buy has gone form 16 oz, to 12 oz and now down to 10 oz and the price has increased. Oddly enough, if you watch the Companies marketing this stuff their profits are sky high - even right now. We are being raped by Corporate America under the guise of "inflation"...my brother works for a chain meat processor as a Supervisor/Maintenance Engineer. He gets yearly bonuses based on profit and while the cost of chicken breast has doubled here he is getting huge bonuses for profitability.

The whole World is now being run by Corporate Greed and making massive profits while screaming "Inflation!!" while their Stock is tanking due to panic and they are using the huge profits to buy back their own stock at rock bottom prices. "They" have The Game firmly in control and we (Global Residents) are being fleeced - it's all in The Plan. They *OWN* our "Representation" and have paid them to liquidate US (and everyone else who works for a living) and there ain't Jack. Shit. You or I can do about it. Buy more Ammo?

Fuck that. Buy more Stock in the Abusers Companies. It won't be this cheap again for another 25 years. It's the only Way to survive this - own parts of The Corps that are running the World. They will be the only ones eating here soon.

VooDoo

 

[Hobo Hilton]

For years, Jerome has not been able to "guarantee" anything...... Other than his pension growing steadily..
If, by some miracle, inflation was reduced by 2% every month it would take a minimum of 6 months to get inflation down to 2% annually.... I think that next year at this time there will still be facing economic issues. Maybe not inflation itself but perhaps the strength of the USD, interest rates on housing, credit card debt or a host of other challenges. No one is going to wave their magic wand and bring back the good times. The longer all of this drags on, the more it hurts the American citizenry....

Powell says he can't guarantee a 'soft landing' as the Fed looks to control inflation

Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority.

www.cnbc.com

 

[Hobo Hilton]

WheatCommodity​

416.75+2.50+0.60%
12:30:00 PM
MI Indication

 

[Bigfatcock]

WheatCommodity​

416.75+2.50+0.60%
12:30:00 PM
MI Indication

View attachment 7868893

But, but, muh ukraine!

 

[Hobo Hilton]

But, but, muh ukraine!

But, but muh Global warming !

Every morning this week my water bowls for the chickens was frozen.

 

[Bigfatcock]

But, but muh Global warming !

Every morning this week my water bowls for the chickens was frozen.

Lol. Chickens are funny creatures.

 

[Hobo Hilton]

Up 91% in the past 12 months

WheatCommodity​

433.00+16.25+3.90%
07:31:00 AM
MI Indication

 

[Hobo Hilton]

Gasoline Metrics Are Flashing Red for a Tight, Costly US Summer

(Bloomberg) -- From record prices to blowout spreads and falling stockpiles, a handful of financial and physical indicators are pointing to expensive and possibly tighter gasoline markets across the US this summer.Most Read from BloombergMeet the Hedge-Fund Manager Who Warned of Terra’s $60...

ca.finance.yahoo.com

 

[eca7891]

Walmart rev beats while missing on eps.

4% increase in sales while having lower profit.

 

[Hobo Hilton]

Walmart rev beats while missing on eps.

4% increase in sales while having lower profit.

WMT is projecting numbers for the future yet don't explain those numbers are basically just inflation. WMT will weather this storm just as they have weathered previous storms. A trader never makes very much with WMT stock. Holding WMT long has not panned out over the past 18 months. I'd expect it to run flat through this recession... Which is better than most will do.

 

[Hobo Hilton]

California's gas average tops $6 per gallon as prices surge across the U.S.

California's state average for a gallon of gas hit a record above $6.

www.cnbc.com

 

[babyguppy]

WMT is projecting numbers for the future yet don't explain those numbers are basically just inflation. WMT will weather this storm just as they have weathered previous storms. A trader never makes very much with WMT stock. Holding WMT long has not panned out over the past 18 months. I'd expect it to run flat through this recession... Which is better than most will do.

Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations.

 

[Bigfatcock]

Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations.

People are broke.

 

[Hobo Hilton]

Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations.

I know where you are comin' from.... There is a phrase that we should all be aware of.. "Investor's expectations"...
These are people in foreign countries, people who never worked hard enough to get calluses on their hands, don't own a gun, can't grow a garden, live in a mega city and eat plant based food... Should I go on ?

If you dropped me and an investor off on a mountain, in a swamp or on the high plains during a snow storm... I'm sure I'd bury him before it came time to make camp for the night.... Why ? No need to carry dead weight.

For you guy's that have followed this topic... All of the signs were there that this recession was going to take hold...

Brace yourselves for more "Heavy Hitter" companies to drop 10% or more in a day.