Fed is trying to prevent diphtheria tremors (DT's). weaning a junkie off of Herion with Methadone. Can't go cold turkey.
Inflation.......... ?
- Thread starter Hobo Hilton
- Start date
First Friday of 2023... Reading the Tea Leaves
www.marketwatch.com
Fed's Bostic backs raising interest rates to 5.25%, says he is agnostic about size of expected February move
Atlanta Fed President Raphael Bostic said that central bank needed to raise its benchmark rate above 5% but not much higher.
www.marketwatch.com
Umm, "diphtheria" is an infection from CB bacteria. I think of the Fed as more of a virus myself; think "obligate intracellular parasite", but ok, whatever. I think you meant "delirium tremens" or (DTs), a severe reaction to withdrawal from ethyl alcohol, or, in this case, cash, right? The part where people have an altered mental status, hyperactivity, and may progress to cardiovascular collapse kinda fits. Ironically, alcohol is the only drug where the withdrawal process frequently results in death. Sure the fentanyl/heroin junkie will be pretty unhappy while quitting their habit, but they don't usually die. Booze, much more frequently, so maybe it's a fair analogy (but not the diphtheria so much.
“Crawfish prices are HIGH right now,” said Laney King, co-founder of the Crawfish App. “The average crawfish prices per pound in Louisiana this weekend are $7.55/lb. boiled and $5.67/lb. live. To put into perspective, this same weekend in 2022, the average live crawfish price was $3.88/lb. Add the additional almost $2/lb. to that this year and you’re looking at $200 for one sack of crawfish to boil this weekend.”
www.brproud.com
Crawfish prices up nearly $2 per lb. from last year, highest in years
The Crawfish App, which compares prices for boiled and raw crawfish throughout Louisiana, reports that prices for the yummy mudbugs are higher than they’ve been in years.
www.brproud.com
Fuck Biden.“Crawfish prices are HIGH right now,” said Laney King, co-founder of the Crawfish App. “The average crawfish prices per pound in Louisiana this weekend are $7.55/lb. boiled and $5.67/lb. live. To put into perspective, this same weekend in 2022, the average live crawfish price was $3.88/lb. Add the additional almost $2/lb. to that this year and you’re looking at $200 for one sack of crawfish to boil this weekend.”
Crawfish prices up nearly $2 per lb. from last year, highest in years
The Crawfish App, which compares prices for boiled and raw crawfish throughout Louisiana, reports that prices for the yummy mudbugs are higher than they’ve been in years.
Nashville hot 5 piece tenders with side at KFC is now $14.99.
Wharton's Jeremy Siegel says the U.S. has 'really solved the inflation problem'
Siegel said the central can stop hiking interest rates now that inflation is cooling.
Fast food prices are something I watch, and fast food prices are higher than snoop dog.
A bunch of stuff I was saving up for at EuroOptic ... just went up.
I was going to add "overnight", but I guess that's how things go up ... until they go up again.
But look at it this way: the more guns, ammo, and gear you buy now, the more return on your investment you're getting!
I was going to add "overnight", but I guess that's how things go up ... until they go up again.
But look at it this way: the more guns, ammo, and gear you buy now, the more return on your investment you're getting!
It is appearing that the "American Middle Class" is the only group that even knows inflation is rampant.
After 1/1/2023 business letters started arriving explaining that rates were going up.. Examples : Trash collection, CPA / Tax prep, insurance, vehicle registration,etc.
These expenses are not like the price of gasoline going up or down... When these businesses raise rates in order to pay their employees and suppliers more money.
These rate increases will NEVER come down. More increases are on the way and people are job hopping in order to draw a higher wage.
Propaganda floods all of the financial publications and forecast saying 1) Inflation has maxed our and is falling, 2) Housing cost / prices will fall, 3) States are cutting taxes on residents while increasing the pay to public employees. This list is long.
But, how many house holds are willingly making cut's to at least balance income to expenses ?
Look around at your coworkers, family, friends and neighbors... What do you see ?
paywall, any way to copy and paste?Wharton's Jeremy Siegel says the U.S. has 'really solved the inflation problem'
Siegel said the central can stop hiking interest rates now that inflation is cooling.www.cnbc.com
Wharton's Jeremy Siegel says the US has 'virtually solved the inflation problem' - Business News
According to Jeremy Siegel, a finance professor at the Wharton School of the University of Pennsylvania, the Federal Reserve must recognize that inflation has
biz.crast.net
thank you..Wharton's Jeremy Siegel says the US has 'virtually solved the inflation problem' - Business News
According to Jeremy Siegel, a finance professor at the Wharton School of the University of Pennsylvania, the Federal Reserve must recognize that inflation has
I guess the 10% (cause I think the CPI is a little low)_raise is where Jeremy wants to leave it..
"Federal Reserve must recognize that inflation has been tackled and stop raising interest rates. Siegel said"
By the end of 2023 all of the "Rose Colored Glasses" quotes will be buried so deep no one will remember them.
2023 will see a record number of, so called experts, retiring to spend more time with their families....
The 2024 recovery they are speaking of will be a long and painful climb out of the hole that has been dug.
I little laugh at this one...
finance.yahoo.com
Little tech luxuries once made middle class millennials feel rich. That era is over
Welcome to your full price, perk-less future.
5% increase is here "Forever"
_________
Mailing a letter will cost more in 2023.
The cost of a Forever stamp jumped from 60¢ to 63¢ on Sunday.
The cost of mailing a postcard also increased. It went from 44¢ to 48¢.
The Postal Service said the increased prices are meant to offset the rise in inflation.
www.kpax.com
_________
Mailing a letter will cost more in 2023.
The cost of a Forever stamp jumped from 60¢ to 63¢ on Sunday.
The cost of mailing a postcard also increased. It went from 44¢ to 48¢.
The Postal Service said the increased prices are meant to offset the rise in inflation.
Price of Forever stamp rises to 63 cents
Mailing a letter will cost more in 2023. The cost of a Forever stamp jumped from 60 cents to 63 cents on Sunday.
www.kpax.com
Inflation in the United States hit a record high in June 2022. Consumer prices soared by 9.1% compared with a year prior — the largest annual increase since 1981. While wages are rising, they're not keeping up with inflation. Wage growth has been consistent with an inflation rate of about 4.5%.Dec 14, 2022
www.cnbc.com
Here's why salaries in the U.S. don't keep up with inflation
While wages in the U.S. are rising, inflation has hit record highs, and most salaries are not keeping up. CNBC's Emily Lorsch explains why.
The cost to move freight is going up. This is another category that will never see rate decreases. This inflation is here to stay.
Granted, there are some railroads, Everything moves by truck in America.
Somewhere between 95,000 and 284,000 new semitrucks are sold in America each year, and as of late 2022 sales were on track to be on the high end of that, said J.D. Power analyst Chris Visser. On average, a semi with a sleeper cabin will cost about $150,000. A fully loaded one can run above $200,000.
Four companies dominate U.S. truck manufacturing: Daimler Trucks, Paccar, Volvo and Traton. Daimler is the biggest: It has about 40% market share, mostly through its Freightliner brand.
www.cnbc.com
Granted, there are some railroads, Everything moves by truck in America.
Somewhere between 95,000 and 284,000 new semitrucks are sold in America each year, and as of late 2022 sales were on track to be on the high end of that, said J.D. Power analyst Chris Visser. On average, a semi with a sleeper cabin will cost about $150,000. A fully loaded one can run above $200,000.
Four companies dominate U.S. truck manufacturing: Daimler Trucks, Paccar, Volvo and Traton. Daimler is the biggest: It has about 40% market share, mostly through its Freightliner brand.
Demand for semitrucks is surging, and four companies stand to benefit
Four manufacturers dominate the market for large semitrucks, led by Daimler Trucks' Freightliner brand. But the business is facing challenges from the outside.
Consumers spent less in December even as an inflation measure considered key by the Federal Reserve showed the pace of price increases easing, the Commerce Department reported Friday.
Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the 4.7% reading in November and in line with the Dow Jones estimate. That was the slowest annual rate of increase since October 2021.
www.cnbc.com
Personal consumption expenditures excluding food and energy increased 4.4% from a year ago, down from the 4.7% reading in November and in line with the Dow Jones estimate. That was the slowest annual rate of increase since October 2021.
Key Fed inflation measure eased in December while consumer spending also declined
The personal consumption price index excluding food and energy for December increased 4.4% from a year ago.
Inflation is not just how much we are paying for an item... Inflation is also the increase in a person's wages for doing the same job this year as they did last year without additional training or personal investment. Doing the same thing and being paid more. This type of inflation will NEVER come down.
www.cnbc.com
JetBlue pilots approve contract extension that comes with over 21% in raises
JetBlue pilots' approval comes weeks after Spirit pilots approved a new contract ahead of the airlines' planned merger.
When given money you didn’t earn, you tend to spend it. Competitors would raise their prices, too, because, hey, who wouldn’t? This has been done in every subsidized industry since the dawn of time. School vouchers are a capitalist’s dream. Yes, I would benefit from school vouchers, but school vouchers would hurt the people I want to support.
A hike in the price of education would take a couple of years to materialize, but it would materialize, believe me.
amgreatness.com
A hike in the price of education would take a couple of years to materialize, but it would materialize, believe me.
The Cost of School Vouchers? Sky-High Inflation › American Greatness
Those who don’t know history are doomed to repeat it. Starting with the Higher Education Act of 1965, the government has subsidized the cost of college with the promise that more people would be able…
amgreatness.com
Increasing apartment rent, car payments increasing and of course grocery runs cost more.
The days of working for less are now history.
Reality is setting in.
________
The employment cost index, a barometer the Federal Reserve watches closely for inflation signs, increased 1% in the October-to-December period, the Labor Department reported Tuesday. That was a bit below the 1.1% Dow Jones estimate and less the 1.2% reading in the third quarter. It also was the lowest quarterly gain in a year.
www.cnbc.com
The days of working for less are now history.
Reality is setting in.
________
The employment cost index, a barometer the Federal Reserve watches closely for inflation signs, increased 1% in the October-to-December period, the Labor Department reported Tuesday. That was a bit below the 1.1% Dow Jones estimate and less the 1.2% reading in the third quarter. It also was the lowest quarterly gain in a year.
Important wage inflation measure for the Fed rose less than expected in Q4
The employment cost index increased 1% in the October-to-December period, the Labor Department reported Tuesday.
High prices are here to stay and inflation is not under control.... Lot's of propaganda out there. Save your money.
www.cnbc.com
ExxonMobil, Chevron's big cash shows cheap gas isn’t coming back
Big Oil companies led by ExxonMobil and Chevron are paying shareholders bigger buybacks and dividends, evidence their outlook on oil prices is confident.
baby back ribs, 1 package a month ago on sale 4 dollars (normal 7.00); price today for same package 17.00 reg priceHigh prices are here to stay and inflation is not under control.... Lot's of propaganda out there. Save your money.
ExxonMobil, Chevron's big cash shows cheap gas isn’t coming back
Big Oil companies led by ExxonMobil and Chevron are paying shareholders bigger buybacks and dividends, evidence their outlook on oil prices is confident.
This is one of the first indicators of prices falling:
Source: Drewry World Container Index, Drewry Supply Chain Advisors
www.drewry.co.uk
Source: Drewry World Container Index, Drewry Supply Chain Advisors
Our detailed assessment for Thursday, 02 February 2023
- The composite index has decreased by 1% this week, and has dropped by 78% when compared with the same week last year.
- The latest Drewry WCI composite index of $2,034 per 40-foot container is now 80% below the peak of $10,377 reached in September 2021. It is 24% lower than the 10-year average of $2,693, indicating a return to more normal prices, but remains 43% higher than average 2019 (pre-pandemic) rates of $1,420.
- The average composite index for the year-to-date is $2,085 per 40ft container, which is $608 lower than the 10-year average ($2,693 mentioned above).
- The composite index remained decreased by 1% at $2,033.70 per 40ft container, and is 78% lower than the same week in 2022. Freight rates on Shanghai – Genoa dropped 2% or $51 to $2,727 per feu. Spot rates on Shanghai – Los Angeles and Shanghai – Rotterdam slid 1% each to $2,056 and $1,732 per 40ft box, individually. Similarly, rates on New York – Rotterdam and Rotterdam – New York fell 1% each to $1,197 and $6,262 per 40ft container, respectively. However, rates on Los Angeles – Shanghai rose 1% to $1,137 per 40ft box. Rates on Rotterdam – Shanghai gained 3% to $786 per feu. Rates on Shanghai – New York hovered around the previous week’s level. Drewry expects small week-on-week reductions in rates in the next few weeks.
World Container Index - 02 Feb
02 Feb 2023: Drewry’s World Container Index decreased by 1% to $2,033.70 per 40ft container this week. Read the detailed assessment:
Challenges identified... At least that is a start. Although it is 2 years too late.
_________________________________________
Here’s why Powell thinks bringing down prices will be more difficult than investors anticipate.
Structural changes in the labor market: The US economy added an astonishing 517,000 jobs in January, blowing economists’ expectations out of the water. The unemployment rate fell to 3.4% from 3.5%, hitting a level not seen since May 1969.
The current labor market imbalance is a reflection of the pandemic’s lasting effect on the US economy and on labor supply, said Powell on Tuesday in answer to a question about the report. “The labor market is extraordinarily strong,” he said. Demand exceeds supply by 5 million people, and the labor force participation rate has declined. “It feels almost more structural than cyclical.”
“If we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have to do more and raise rates more,” he said.
Core services inflation: Powell noted that he’s seeing disinflation in the goods sector and expects to soon see declining inflation in housing. But prices remain stubborn for services. Service-sector inflation, which is more sensitive to a strong labor market, is up 7.5% from the year prior through the end of 2022, and has not abated, he said.
“That sector is not showing any disinflation yet,” Powell said. “There has been an expectation that [higher prices] will go away quickly and painlessly and I don’t think that’s at all guaranteed.”
Geopolitical uncertainties: Powell also cited concerns that the reopening of China’s economy after the sudden end of Covid-Zero restrictions, plus uncertainty about Russia’s war on Ukraine could also affect the inflation path in ways that remain unclear.
_________________________________________
Here’s why Powell thinks bringing down prices will be more difficult than investors anticipate.
Structural changes in the labor market: The US economy added an astonishing 517,000 jobs in January, blowing economists’ expectations out of the water. The unemployment rate fell to 3.4% from 3.5%, hitting a level not seen since May 1969.
The current labor market imbalance is a reflection of the pandemic’s lasting effect on the US economy and on labor supply, said Powell on Tuesday in answer to a question about the report. “The labor market is extraordinarily strong,” he said. Demand exceeds supply by 5 million people, and the labor force participation rate has declined. “It feels almost more structural than cyclical.”
“If we continue to get, for example, strong labor market reports or higher inflation reports, it may well be the case that we have to do more and raise rates more,” he said.
Core services inflation: Powell noted that he’s seeing disinflation in the goods sector and expects to soon see declining inflation in housing. But prices remain stubborn for services. Service-sector inflation, which is more sensitive to a strong labor market, is up 7.5% from the year prior through the end of 2022, and has not abated, he said.
“That sector is not showing any disinflation yet,” Powell said. “There has been an expectation that [higher prices] will go away quickly and painlessly and I don’t think that’s at all guaranteed.”
Geopolitical uncertainties: Powell also cited concerns that the reopening of China’s economy after the sudden end of Covid-Zero restrictions, plus uncertainty about Russia’s war on Ukraine could also affect the inflation path in ways that remain unclear.
I have a hard time believing anything coming out in the news today from the US gov agencies.
At one time, Gov agencies actually tried to be accurate, now, they try to be political. uggg, stalin would be proud with the gov. reporting going on.
so, greatest economy ever.
labor participation rate in 2003 was 66%, and today Jan 2023 it's 62%. Seems like people are getting two jobs.
www.bls.gov
Then we can look at all the old people that HAD to get jobs due to the GOV fuk'n them with inflation and higher prices
granted this chart is 2003 to 2013..
This shows 1950's to current
"US economy added an astonishing 517,000 jobs in January, "
the whole, XXX jobs added to the labor market; when it was over 2million added last year, and then 'updated' to only 200k.At one time, Gov agencies actually tried to be accurate, now, they try to be political. uggg, stalin would be proud with the gov. reporting going on.
so, greatest economy ever.
labor participation rate in 2003 was 66%, and today Jan 2023 it's 62%. Seems like people are getting two jobs.
Civilian labor force participation rate
www.bls.gov
Then we can look at all the old people that HAD to get jobs due to the GOV fuk'n them with inflation and higher prices
granted this chart is 2003 to 2013..
This shows 1950's to current
Labor Force Participation Rate - 55 Yrs. & over
Graph and download economic data for Labor Force Participation Rate - 55 Yrs. & over (LNS11324230) from Jan 1948 to Jan 2023 about 55 years +, participation, civilian, labor force, labor, household survey, rate, and USA.
fred.stlouisfed.org
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As the markets prepare for the latest consumer price index data on Tuesday, logistics managers are warning of a persistent source of inflation in the supply chain, and saying consumers should be ready for the impact it will have on their wallets. While many sources of supply chain inflation that stoked higher goods prices have come down sharply, including ocean freight rates and transportation fuels, bloated inventories due to a lack of consumer demand are sustaining upward pressure on warehouse rates.
www.cnbc.com
There’s a new inflation warning for consumers coming from the supply chain
Inflation has dropped rapidly helping the Fed and economy, but there’s a sticky source in the supply chain related to inventory gluts and weak consumer demand.
Devontae, of Washington, D.C., said he only recently noticed a spike in grocery prices.
"I just went grocery shopping for the month," he told Fox News. "And last time I went grocery shopping for the month, I didn't really notice the price increase."
"But this time I did," Devontae continued. "And it's probably because things have not just gone up a few cents or a dollar. It's like they've gone up $2, $3."
www.foxbusiness.com
"I just went grocery shopping for the month," he told Fox News. "And last time I went grocery shopping for the month, I didn't really notice the price increase."
"But this time I did," Devontae continued. "And it's probably because things have not just gone up a few cents or a dollar. It's like they've gone up $2, $3."
Relentless inflation and surging grocery prices have these Americans on edge
Americans shared their thoughts on surging grocery store prices, with some people in Texas and Washington, D.C., relaying dismay at their latest supermarket bill.
www.foxbusiness.com
Happy with the downward trend on lumber prices. Doing a remodel and need about 250 sheets of osb. 7/16 is $9.18, 1/2 - $10.26, and 3/4" T&G $20.82 bulk, 40-50 sheet min per, Home Depot. This was a crap-ton more a 18 months ago.
Windows, on the other hand are about 40% more expensive than they were in 2017.
Windows, on the other hand are about 40% more expensive than they were in 2017.
Get that OSB while you can... Hurricane, earthquake or forest fire and the price will double over night... If you can get it.
The hot topic today is "Inventory"... Cost to warehouse is still going up so that inventory is going down to the minimum the consumers will put up with.
Hang in there
I'm buying tonight, going in my barn for april construction.
Edit - paid for, they'll delay delivery for 30 days. Windows (anderson 200, painted 2x6 framing), not as bad with ProXtra discount. (17%)
Edit - paid for, they'll delay delivery for 30 days. Windows (anderson 200, painted 2x6 framing), not as bad with ProXtra discount. (17%)
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No kidding on the window prices, crazy high, but what do you do, put plastic over the opening and hope prices come down?
A "General Statement"..... Prices are not coming down. This is why the phrase "Rolling Recession" is being fronted. About the time we point out 20 items that are more expensive than 2 years ago, a "Government Study" will point out 5 items that have come down in price... "Rolling"......
I went in my local grocery store today, Bought 3/4 pound of Black Forest ham at the deli and 3 apples. My total at the check out was $18... Add some bread and mayo and that is lunch for 3 days.... But again, I can't eat fast food for 3 days any cheaper.
Just in time.. they no longer use two years of data..... Only 1 year to make it look better.
Interesting..... Her statements have gone against the grain of the Biden Administration, financially. Will she cave in and meld back into the Democratic machine... IDK... A lot of people will be watching this one.
__________________
U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard to the White House’s top economic policy position as early as Tuesday, a source familiar with the matter said on Monday.
www.cnbc.com
__________________
U.S. President Joe Biden is expected to name Federal Reserve Vice Chair Lael Brainard to the White House’s top economic policy position as early as Tuesday, a source familiar with the matter said on Monday.
Biden to name Fed's Lael Brainard as top economic advisor, source says
Biden is making over his top economic team as U.S. faces the prospect of an unusual recession without significant job losses.
This is a pure political move. Just like the term "rolling recession".... Rearranging the deck chairs on the Titanic.
____________
Changes in the CPI report
There are other issues that could cast a cloud over the report, as the Bureau of Labor Statistics is changing the way it’s compiling the report.One significant alteration is that it is now weighting prices on a one-year comparison rather than the two-year duration it had previously used.
That has resulted in a change in how much influence the various components will have — the weighting for both food and energy prices, for instance, will have an incrementally smaller influence on the headline CPI number, while housing will have a slightly heavier weighting.
In addition, shelter will have a heavier influence, going from about a 33% weight to 34.4%. The BLS also will give heavier price weighting to unattached rental properties, as opposed to apartments.
The change in weightings are done to reflect consumer spending patterns so the CPI provides a more accurate cost-of-living picture.
Inflation report due Tuesday has the potential to deliver some bad news
All market eyes Tuesday will be on the release of the Labor Department's consumer price index.
In recent days, Fed Chairman Jerome Powell has talked about “disinflationary” forces at play, but January’s numbers show the central bank probably still has work to do.
www.cnbc.com
Inflation rose 0.5% in January, more than expected and up 6.4% from a year ago
The consumer price index was expected to increase 0.4% in January from a month ago and 6.2% on an annual basis, according to Dow Jones.
And now, almost 2 years since you made this comment............. How is it all working out ?
Well, just as I said, the GOV was lying about there not being an issue with inflation. What was your point? I feel like I missed something with your comment.
Curious if you are able to pass on the inflation and continue to operate at a profit?
Exxon sure seems to have it figured out.
They learned the hard way after that oil crisis of the 1980's... Houston and Morgan City, La were ghost towns. Billboards read "Would the last person to leave please turn out the light's".... The one's that did not learn that lesson are long gone.
“There’s not a whole lot of places to hide from it,” McBride said.
www.cnbc.com
Here's the breakdown of the inflation report for January — in one chart
High inflation persisted in January, with the consumer price index rising 6.4% on an annual basis.
The time has come to give two definitions to the word / term "Inflation".
1) Government Inflation - A fabrication of bean counters with the only goal in life is to draw a government, guaranteed, paycheck. Based on a 12 month period.
2) We the People Inflation - Individuals showing hard numbers and statements as to how much cost have risen. Based on living in America all their life.
Example of We the People Inflation:
Carla Hill, who said she owns a home in the Cherry Creek mobile-home park in Billings, said she paid $285 a month to rent a lot before a corporation purchased the park in 2020. After rent increases and added water, sewer and garbage fees, she said, her lot payment now averages $595 — more than twice as much.
www.kpax.com
1) Government Inflation - A fabrication of bean counters with the only goal in life is to draw a government, guaranteed, paycheck. Based on a 12 month period.
2) We the People Inflation - Individuals showing hard numbers and statements as to how much cost have risen. Based on living in America all their life.
Example of We the People Inflation:
Carla Hill, who said she owns a home in the Cherry Creek mobile-home park in Billings, said she paid $285 a month to rent a lot before a corporation purchased the park in 2020. After rent increases and added water, sewer and garbage fees, she said, her lot payment now averages $595 — more than twice as much.
Landlords push back on pro-tenant, mobile-home park bills
Steve Skinner, who identified himself as a longtime mobile-home court owner, said the Legislature should look at other ways to tackle housing concerns.
www.kpax.com
ZeroHedge
ZeroHedge - On a long enough timeline, the survival rate for everyone drops to zero
www.zerohedge.com
Another "Indicator" that the inflation over the past few years is here to stay. These prices will never come down. The best possible scenario would be for inflation to halt. Given the current leadership of the world, there is no light at the end of the tunnel.
/cloudfront-us-east-2.images.arcpublishing.com/reuters/BPRPC5TD6JMIJAXECK2U3T4IAA.jpg)
www.reuters.com
UK supermarket chain Asda says it will raise staff pay by 10%
British supermarket chain Asda announced a 10% pay rise for 115,000 staff on Friday, the kind of increase likely to catch the attention of the Bank of England, which is worried about inflation pressure in the economy.
www.reuters.com
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