Inflation here? gas/grocery prices just continue to climb (5 Viewers)

[Sailorsaint]

I think OPEC is hiding WMDs.

 

[bclemms]

I think OPEC is hiding WMDs.

Technically they are supplying the stuff doing way more damage than WMDs..

 

[bclemms]

Two things I heard earlier made me think of this thread
Wages have increased recently to make jobs competitive
Shipping companies have contracted for a desirable/set amount of port business
- those factors will remain baked into the economy even as things open up more, so we’re not likely to see as many price drops as we would normally

Oh, we aren’t going to see drops. The rate of increase will slow. Some sectors are going to be tough for a while.

 

[EGLSShin]

Two things I heard earlier made me think of this thread
Wages have increased recently to make jobs competitive
Shipping companies have contracted for a desirable/set amount of port business
- those factors will remain baked into the economy even as things open up more, so we’re not likely to see as many price drops as we would normally

Wages haven't increased enough. Dollar Tree for an example, they made nearly 1.230 billion in profits this year thus far. Their CEO cleared 10.7 mil in pay and they pay around 8-8.50 an hr. 7400 Dollar Tree employee's are forced into some kinda assistance program, I.E Foodstamps or Medicaid. I was even looking around at indeed for more technical jobs, many in the IT field, it wasn't a whole lot better considering how astronomical cost of living is now. Most of the listings were "Entry level" required a degree and required 2-8 years of experience. I don't know how something can be entry level and require up to 8 years of experience. I can take a guess though, they use "Entry Level" as means to not pay people fairly because they can just say, "Well, its entry level" when they're expecting applicants to be well past entry level compensation. Many of those places also paid well below a living wage(Under 15$ an hour) when people actually pressed them about compensation.

You can't do jack squat on 15$ an hour in many many places in the USA, even 15$ an hour isn't gonna cut it. My father for an example was making 30-40$ per hour in the 90's as a NOPD when factoring in paid details and overtime. Wages have done a horrible job keeping up.

 

[itztime]

Wages haven't increased enough. Dollar Tree for an example, they made nearly 1.230 billion in profits this year thus far. Their CEO cleared 10.7 mil in pay and they pay around 8-8.50 an hr. 7400 Dollar Tree employee's are forced into some kinda assistance program, I.E Foodstamps or Medicaid. I was even looking around at indeed for more technical jobs, many in the IT field, it wasn't a whole lot better considering how astronomical cost of living is now. Most of the listings were "Entry level" required a degree and required 2-8 years of experience. I don't know how something can be entry level and require up to 8 years of experience. I can take a guess though, they use "Entry Level" as means to not pay people fairly because they can just say, "Well, its entry level" when they're expecting applicants to be well past entry level compensation. Many of those places also paid well below a living wage(Under 15$ an hour) when people actually pressed them about compensation.

You can't do jack squat on 15$ an hour in many many places in the USA, even 15$ an hour isn't gonna cut it. My father for an example was making 30-40$ per hour in the 90's as a NOPD when factoring in paid details and overtime. Wages have done a horrible job keeping up.

Major pharmaceutical machine company posted an "implementation manager" position, old colleague works for them and suggested that I apply. I start through the screening interview they stated I am a perfect fit so before they put me in front of the hiring manager, let’s talk salary. Fifteen years of experience they low balled me, we were 50k off and he tried to talk me into accepting that offer and going through with the interview. I said no way, we are 50 THOUSAND off not dollars, the dude kept rambling and I said we just need to end the conversation. I was floored with the offer and the thought of they need bodies and make a beep ton of money and would offer such a low salary, good luck to them.

 

[Mr. Sparkle]

Surging inflation is forcing people and businesses to adapt

A warehouse worker in Tennessee is running up against price increases that far exceed her modest pay raise.

apnews.com

WASHINGTON (AP) — Prices for U.S. consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing, autos and clothing left Americans enduring their highest annual inflation rate in 39 years.

The Labor Department also reported Friday that prices rose 0.8% from October to November — a substantial increase, though slightly less than 0.9% increase from September to October.

 

[Bayouboy]

Does anyone know what is driving inflation up so much? I know its a number of things, but what is the primary driver?

 

[guidomerkinsrules]

Does anyone know what is driving inflation up so much? I know its a number of things, but what is the primary driver?

I’m an economy dunce, but from what I gather there were growing supply issues before Covid and the pandemic papered over some of those issues bc slowdown but made some of the infrastructure issues even worse
Once people started going back outside, it created way more demand than supply

 

[efil4stnias]

I’m an economy dunce, but from what I gather there were growing supply issues before Covid and the pandemic papered over some of those issues bc slowdown but made some of the infrastructure issues even worse
Once people started going back outside, it created way more demand than supply

Well you're a dunce no more. What added to that was the "waves" of pandemic. Started in China where much of our products come from. So that throttled production. Then our wave which throttled consumption. Which affected production because demand was way down. Then, we exited the pandemic, and everyone wanted to consume, but production and logistics haven't caught up.

That, coupled with the creation of money by Fed, has us where we are.

Things will begin to tighten up in 2nd quarter next year when Fed starts .25 rate increases.

 

[Mr. Sparkle]

Does anyone know what is driving inflation up so much? I know its a number of things, but what is the primary driver?

Too much money in circulation chasing too few goods.

And then it takes on a life of its own when producers start raising prices because their inputs are now more expensive or even worse, just because they see everyone else raising prices so they do too...

 

[dtc]

Well you're a dunce no more. What added to that was the "waves" of pandemic. Started in China where much of our products come from. So that throttled production. Then our wave which throttled consumption. Which affected production because demand was way down. Then, we exited the pandemic, and everyone wanted to consume, but production and logistics haven't caught up.

That, coupled with the creation of money by Fed, has us where we are.

Things will begin to tighten up in 2nd quarter next year when Fed starts .25 rate increases.

The pandemic isn't over and our suppliers overseas have us by the short hairs. There is no other source for so much of our consumption that the sellers can get what they want. Shipping problems, logistic problems, real scarcity and a heated up economy fueled by cheap money and pent up demand and here we are.

 

[dtc]

Too much money in circulation chasing too few goods.

And then it takes on a life of its own when producers start raising prices because their inputs are now more expensive or even worse, just because they see everyone else raising prices so they do too...

The supply of money isn't the only thing causing the inflation. It's at least as much due to the actual demand for consumption as it is due to cheap money, but there are other facets.

As far as I can recall from entry level macroeconomics, we are looking at basically a perfect storm of forces all pushing up prices topped by a global pandemic.

Borrow money while you can and make sure you're liquid going into the next few years is all I can say.

 

[Turfie]

Upstate SC here. Feel I just saw another major uptick in grocery prices.

A traditional sized box of triscuits was $4.99. Used to be $2.50 to $3.0

Bacon is now 8-9 bucks. Was 6-7 recently.

Ham steaks are now 6 bucks. Used to be 3-4.

1 lb of strawberries now $6.0

Half pint of raspberries were also $6.

 

[efil4stnias]

Upstate SC here. Feel I just saw another major uptick in grocery prices.

A traditional sized box of triscuits was $4.99. Used to be $2.50 to $3.0

Bacon is now 8-9 bucks. Was 6-7 recently.

Ham steaks are now 6 bucks. Used to be 3-4.

1 lb of strawberries now $6.0

Half pint of raspberries were also $6.

Wife sent me text this am.

We always buy Earth Balance soy-based butter. it was $6.09 - its normally $4.50 at Whole Foods and $3.99 at Winn Dixie ( when they have it )

Just past weekend went to Sams- same stuff we buy each weekend was about 25% more.

ANNNNNNNNNNND i just paid $26 for a seafood platter from Mano's. ( my asst paid $12 for shrimp on bun sandwich- TWELVE BUCKS )

 

[RaginCajun83]

Gas was $3.45 a gallon today, thank god I don’t drive a diesel that was $4.05