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2022 inflation report thread
cohodk
Posts: 18,766 ✭✭✭✭✭
New year, new thread
My Dunkin sammich and coffee went up about 10% on Jan 1.
Excuses are tools of the ignorant
Knowledge is the enemy of fear
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APMEX single BU silver eagle is up to 47.5% over spot plus shipping.
Noticed a few more empty shelf spaces at Publix last night. And they have not had my Arizona Watermellon Tea for a while now.
Economic headlines the mainstream media are hiding from you.
All is well in The Commonwealth. Made the quarterly journey to Costco this past weekend. It was jammed packed due to all the storm is coming panic shoppers, but the shelves were surprisingly full. Didn't really notice any big price increases, maybe just in the bulk Kirkland toilet paper and paper towels up about $1 a pack. I can live with that. Got about 15 inches of snow in the past 24 hours, god bless the woodburner. Furnace hasn't kicked on once today. RGDS!
The whole worlds off its rocker, buy Gold™.
Peloton is about to tack on hundreds of dollars in fees to its Bike and treadmill, citing inflation - https://www.cnbc.com/amp/2022/01/17/peloton-is-about-to-tack-on-hundreds-of-dollars-in-fees-to-its-bike-and-treadmill-citing-inflation.html
==
Netflix raises prices in U.S. and Canada, stock pops - https://www.cnbc.com/amp/2022/01/14/netflix-raises-prices-in-us-and-canada-stock-pops.html
COVID Shut-ins are experiencing inflation!
Shelves all completely full around here. But prices definitely higher. In the dental world all of my labs and suppliers have sent me notices with 5-20% increase in fees. staff salaries are really going up. Unable to find any hygienist at almost any salary. Lack of staff, higher cost for supplies (nitrile gloves almost 5x more expensive than 2 years ago) Means a new fee schedule coming out soon for patients and no more PPO plans excepted. If I slow down I will go fishing more
Just sell everyone dental implants and tell them they’ll never worry about dental inflation again
Dental implants are great but may not last forever without future attention. Dentist only started placing them in the 90s, you would be amazed at the number of disasters we are seeing. Residual bone growth has led to some real headaches for me. Even in older patients. Would still be my choice to replace one tooth but full mouth implant replacements are like expensive cars, can be very expensive to maintain over a 15+ yr period
My dentist had to coax hygienist back from retirement...no new ones. I had a niece that just graduated for that but the military snapped her up.
Prices definitely up noticeably. Shockingly on meat.... double on most and triple on a couple of types. Cheers, RickO
In December I bought an entire beef tenderloin on sale for $11.99/lb. Last week I bought another at $10.99/lb. I think it is likely the result of the inconvenience of dining out during Covid. Restaurants probably aren't buying as much, and they are the ones that buy the more expensive meat cuts. Now I can have my steak, and eat it too.
Slight grading fee increase across the street:
Economic headlines the mainstream media are hiding from you.
off topic but a good freebie:
four free in home covid test kits courtesy of your favorite uncle. order here. (appears USPS is handling the orders and delivery. Limit of one kit of four tests per household.
Economic headlines the mainstream media are hiding from you.
My cell phone provided now requires a "no fee payment" to maintain the auto-pay discount. They also added a $1.25 monthly "administrative fee" for 2022. Not a biggie but it does add about 3% to my previously agreed upon contract.
$1.25 per month for a computer to process an ACH?
Criminal
Meanwhile, China’s central bank cuts key lending rates.
"China’s central bank cut the one-year loan prime rate by 10 basis points from 3.8% to 3.7%. The five-year loan prime rate was reduced by 5 basis points from 4.65% to 4.6% — the first cut since April 2020, at the height of the coronavirus pandemic in the country."
Economic headlines the mainstream media are hiding from you.
And what does this have to do with the price of eggs in America?
Sorry, thought it was an inflation thread. Didn't central banks help create inflation? Find it ironic that the PBOC is doing completely the opposite of what the FED plans to do. Guess ya gotta break some eggs to make an omelet.
Economic headlines the mainstream media are hiding from you.
https://www.reuters.com/world/europe/german-producer-prices-register-record-242-jump-december-2022-01-20/
Egggsellent!!
Knowledge is the enemy of fear
From CNB******S
Treasury Secretary Janet Yellen on Thursday defended the Biden administration’s economic achievements over the president’s first year in office and said that she hopes to see inflation closer to 2% by the end of 2022.
She highlighted robust gains in the U.S. labor market over the last 12 months, including the addition of over 6 million jobs and an unemployment rate under 4%.
My eggs are still virtually free although production from the girls is always down a bit in these winter months. Maybe I should look into loaning some dollars to the Chinese? RGDS!
The whole worlds off its rocker, buy Gold™.
Chinese economy is getting pressured downward by a property market “ailment”
It’s not just Evergrande that’s defaulted.
Real Estate related industry made up something like 30% of the economy(?)
Reading a few articles on evergrande has me saying “contagion” to the middle class there. Savings invested with evergrandes wealth mgmt and “savings” via real estate looks like it is evaporated unless the CCP decides to bail them out.
So, it’s not unusual to me that china’s PBOC is doing one thing and the Fed is doing another.
20% is more realistic.
Economic headlines the mainstream media are hiding from you.
Could this economic diversion be another nail in globalization's coffin? Seems the pandemic provided a few nails (unintended consequence?) via supply chain issues. Is the "world economy" becoming fractured? Certainly not in Klaus's playbook.
Economic headlines the mainstream media are hiding from you.
Goldman Sach bonuses are up 40-50%
Economic headlines the mainstream media are hiding from you.
It’s just a diversion now? It did have serious ramifications
https://forums.collectors.com/discussion/comment/13116628/#Comment_13116628
As far as globalization and coffins, I’m not buying Chinese real estate nor wealth management products, but there’s plenty of made in chine at walmart
'Merica be addicted to Maiden China. That's never going to change, at least in our lifetimes.
The whole worlds off its rocker, buy Gold™.
how the two economies react to one's economic woes is completely different to how it's central banks react; two completely different issues. My use of the word "diversion" was in reference to the diversion of PBOC from the FEDs playbook. Historically "global" central banks walk in tandem. My point was "is this a setback for the globalization movement?" A breakdown in this movement will have serious (game-changing) consequences for individual economies. Consumer dependency could be drastically altered. New markets in new locations could follow.
Economic headlines the mainstream media are hiding from you.
It’s still hardly a diversion.
It assumes lock-step is the way things work.
Them taking a different direction is business as usual and doesn’t remove Chinese underwear from Walmart
the two central banks are moving in completely opposite directions. Quite the diversion.
Central banks around the world have been following the FED's lead for at least since 2009 crisis. Explains why many of the failing economies mimic the US economy.
Walmart is already looking for new suppliers (as are many US retailers and wholesalers). I'm told the underwear sample it received from Poland is the same on both the front and the rear.
Economic headlines the mainstream media are hiding from you.
Increased globalization!
I believe the result will be an increase in US production. We are learning that dependency, even if it increases profits, does come at a price.
Economic headlines the mainstream media are hiding from you.
fixed it for ya
Economic headlines the mainstream media are hiding from you.
A higher price at the register that the lower 80% can’t afford
Hello, Viet Nam!
An increase in US production will provide jobs for the lower 80% (we all know the upper 20% don't work for a living). While there will always be a lower 80% there is hope for "quality of life" improvement. The most important link for imports in the supply chain (entry at US ports) is broken. This includes the current trucking delays from Canada due to the pandemic's new entry/exit restrictions. Even when fixed, wholesalers/retailers will be looking to exit that particular position of dependency. Even if becomes only a portion of the inventory, it will create a demand and a market for local production. For example the demand for healthy, fresh organic produce has opened up a whole new "local" market.
Economic headlines the mainstream media are hiding from you.
@derryb said: we all know the upper 20% don't work for a living,
Can you elaborate on that?
Sure, the upper 20% don't work in the labor intensive production of goods for a living. Those that do have a "job" can be found paying others to pay others to tell actual workers what to do.
Economic headlines the mainstream media are hiding from you.
So, for example, a medical doctor doesn’t work? How about a software engineer? A biotech entrepreneur?
top 20% does not include them.
Economic headlines the mainstream media are hiding from you.
Rite
US has voted with their wallets over the past 50 years, decline in quality vs the price and we're better off buying overseas. Forced onshoring will change it for a while, but long term I don't think so. Another issue is that the EPA chased many chip plants out, after we bring them back I predict instant lawsuits to shut them back down. (sorry for the rant)
Im sure oil field welders, utility linesmen, and many other self employed construction folk would love to hear you say they dont work to their face.
Sometimes you write the funniest comments.
Knowledge is the enemy of fear
my bad, i assumed the upper 20% made more than $1M a year. turns out they make more than $100K a year. Apologies to all.
Economic headlines the mainstream media are hiding from you.
100k will place your household in top 1/3. America is the land of plenty.
Knowledge is the enemy of fear
1 out of 11 households in America has a $1 million net worth.
Knowledge is the enemy of fear
Does this number take into account the home?
My Ebay Store
Obviously a million ain't what it used to be.
Economic headlines the mainstream media are hiding from you.
Publix down the street. Coke can 12 pack, 6 pack plastic bottles, 10 pack airplane cans....all $7+ plus per pack. With multi discount for buy 2 get one free still $6 per.
This is the highest I've ever seen our product, even with discount, almost 15 years....inflations doesn't exist right? And soda is one that hits hard with the crowd that buys it.
Soda? The definition of non-essential.
Successful BST deals with mustangt and jesbroken. Now EVERYTHING is for sale.
Excluding home.
Knowledge is the enemy of fear
Source? Excluding home equity that seems high.