Inflation


Section2

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According to the CEO of Tyson Foods (36 year experience), "unprecedented inflation" has driven the company to raise the average price of its beef by 12%, chicken by 16% and pork by nearly 40%.
Temporary, driven by supply chain problems from pandemic I’m told.
 

Section2

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Its not punishment. Sad that you hate America. If you loved America you would be proud to pay taxes.

Taxes have been repeatedly cut for the last 40 years and those cuts mostly benefited the wealthy. Taxes and fees have gotten more regressive.
You should be proud to give more money to politicians who are owned by the rich and do their bidding?? Genius level logic from Wally. Mr Confused. Maybe Americans controlling more of their own money would benefit them? Nah.
 

Section2

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Yes, good thing there is an EASY solution called progressive taxation!!!!!!
Which we have. How’s that working out? Tax the rich more, take that money, give it to politicians who are controlled by the rich and make them more wealthy. Surely average Americans don’t end up paying for those taxes at all. Genius!!!
 



FormerFatOL

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According to the CEO of Tyson Foods (36 year experience), "unprecedented inflation" has driven the company to raise the average price of its beef by 12%, chicken by 16% and pork by nearly 40%.

Anecdotally, I just went to Von Hansens for the first time in several months and was shocked at the prices. I usually don't really pay attention. Food inflation right now is real.
 

balds

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Anecdotally, I just went to Von Hansens for the first time in several months and was shocked at the prices. I usually don't really pay attention. Food inflation right now is real.
Big Time. Went out for dinner last weekend and our favorite local place has changed their steak prices to market. Prices were noticably higher on other items as well. Also our local Targets shelves are barren. Very noticeable the plethora of empty or scantily stocked shelves. Is anyone else seeing similar things in their region of the country?
 
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Section2

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Or drought...
Of course. Climate change is behind inflation. I’m sure that will be the rallying cry all year. Not economic dislocations caused exclusively by government.
 




STPGopher

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Of course. Climate change is behind inflation. I’m sure that will be the rallying cry all year. Not economic dislocations caused exclusively by government.
This isn't an attempt at a pi$$ing match. Google drought and cattle ranchers. Many issues there. Future beef prices may trend toward insane. Hard to raise cattle if you can't feed them.
 

PeoplesFront

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Anecdotally, I just went to Von Hansens for the first time in several months and was shocked at the prices. I usually don't really pay attention. Food inflation right now is real.
Maybe so, but who really cares if I have to pay $2.50 more per pound for my sustainably sourced ground beef? It sure as hell beats me having to take to twitter to post my frustrations in having to constantly explain to my 18 month year old theybie why the President is throwing a temper tantrum on social media. It’s a small price to pay, but very much worth it IMHO.
 




FormerFatOL

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Maybe so, but who really cares if I have to pay $2.50 more per pound for my sustainably sourced ground beef? It sure as hell beats me having to take to twitter to post my frustrations in having to constantly explain to my 18 month year old theybie why the President is throwing a temper tantrum on social media. It’s a small price to pay, but very much worth it IMHO.

I wish it was only $2.50.

That said, I loves me some grass fed beef. I'm lucky enough that my in-laws have a (mostly) grass fed operation - though they aren't doing it to be green. They're just old school.
 

OldBob53

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ok, so todays Wednesday, August 18th if Im not mistaken.

I bought a 15 oz can of green beans, Del Monte Blue Lakes for $3.37

Lets see what their going for as time goes on.
 

FormerFatOL

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ok, so todays Wednesday, August 18th if Im not mistaken.

I bought a 15 oz can of green beans, Del Monte Blue Lakes for $3.37

Lets see what their going for as time goes on.

Holy crap. That's $.99-$1.50 a year ago.
 

STPGopher

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Section2

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This isn't an attempt at a pi$$ing match. Google drought and cattle ranchers. Many issues there. Future beef prices may trend toward insane. Hard to raise cattle if you can't feed them.
You are right, my apologies. I’m sure it’s a factor. But the drought is not nationwide. And I assume you are referring grazing cattle. Wouldn’t explain why pork is up by far the most.
 

Section2

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ok, so todays Wednesday, August 18th if Im not mistaken.

I bought a 15 oz can of green beans, Del Monte Blue Lakes for $3.37

Lets see what their going for as time goes on.
Anyone else notice how random store shelves are empty? Went to buy some probiotics the other day at CVS, there was one bottle left. Lots of shelves at Target empty.
 

STPGopher

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You are right, my apologies. I’m sure it’s a factor. But the drought is not nationwide. And I assume you are referring grazing cattle. Wouldn’t explain why pork is up by far the most.
Correct. As always, commodities are complicated. Each one seems to have it's own variables. I don't pay attention to pork, but do some of the others.

Regarding the drought, it does have indirect impact. Hay, grains, etc. have been impacted "locally" as well.

Regarding inflation, I'll leave the inflation, deflation, and currency manipulation conversation(s) to the experts.
 

Spoofin

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Says the guy too chicken shit to make a prediction. At least @Spoofin thinks you're cute too.
Why does one need to make a prediction to recognize and accept that inflation is extremely high right now. According to NPR, it is at a 13-year high.
.
 

Wally

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Which we have. How’s that working out? Tax the rich more, take that money, give it to politicians who are controlled by the rich and make them more wealthy. Surely average Americans don’t end up paying for those taxes at all. Genius!!!
You don't want to hear my other solution.
 


GopherJake

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Why does one need to make a prediction to recognize and accept that inflation is extremely high right now. According to NPR, it is at a 13-year high.
.
What does that have to do with my comment? @SectionTool continues to smart-off about how much smarter he is about the trajectory of things. I predict this will subside as supply-chain issues get resolved. That's what his asshatted comment refers to. But he's too chicken shit to go on record with an actual prediction. Has nothing to do with where we are now. Facts are facts. The future is a little more difficult to gauge. But smart-assed comments are easy, without having to go on record to see actually how smart he is.
 

GopherJake

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Anyone else notice how random store shelves are empty? Went to buy some probiotics the other day at CVS, there was one bottle left. Lots of shelves at Target empty.
Yeah, not an indication that there are supply chain issues or anything.......
 

Spoofin

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What does that have to do with my comment? @SectionTool continues to smart-off about how much smarter he is about the trajectory of things. I predict this will subside as supply-chain issues get resolved. That's what his asshatted comment refers to. But he's too chicken shit to go on record with an actual prediction. Has nothing to do with where we are now. Facts are facts. The future is a little more difficult to gauge. But smart-assed comments are easy, without having to go on record to see actually how smart he is.
Of course things will subside - inflation can't continue at this rate forever. No one knows for sure what the future will bring; however, when folks say this is just a 'temporary supply chain issue' or that things will 'revert' back - that would require things to go back to how they were. IMO, that ship has sailed. You can always pick out volatile commodities that may bounce up/down, but a big driver this time in all the increased costs is increased wages being paid to hire people because of the labor shortage. That affects everything in virtually every industry. Wages aren't going to revert so costs on many goods won't either so the price of those goods also won't. For example, there are many machine component manufacturer's that have raised prices 2-3 times this year which is unheard of in the industrial market, but here we are. Those costs will continue to be pushed downstream and affect people and goods in countless sectors (from businesses to consumers). Purchasing power is being diminished at record rates right now - that much is not really debateable. I'm glad you see a path to all that being erased, I don't.
 

MplsGopher

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a big driver this time in all the increased costs is increased wages being paid to hire people because of the labor shortage.
Paying fewer people more money usually tends to be a reduced overall payroll.

Even if most companies are spending some significant amount more on overall payroll in summer 2021 vs summer 2019, you're completely pulling it out of your ass that it's a "big driver" in price increases.

For example, there are many machine component manufacturer's that have raised prices 2-3 times this year which is unheard of in the industrial market, but here we are.
Here you just picked some random example for which you actually have intimate knowledge, or know someone who does. What are you calling "machine components", what machines are they going into, and what are those machines going into/used for? How many is "many". Who says it is unheard of? What relatively amount are the price increases? All missing, important details to your tale.

And how actually critical to the overall price increase picture are "machine components"?



More than likely, it's just one giant "pulled it out of your ass" post with a couple little tidbits of truth sprinkled in from your personal/professional experience to make it sound like you know what you're talking about.
 

GopherJake

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Of course things will subside - inflation can't continue at this rate forever.
Uh. That's not super astute. It can indeed continue on and spiral out of control. And it can sustain at a high rate for years. Ever been to a third world country?

No one knows for sure what the future will bring; however, when folks say this is just a 'temporary supply chain issue' or that things will 'revert' back - that would require things to go back to how they were. IMO, that ship has sailed.
Ok, at least you are going on the record. The point of the post that you interfered with was that @SectionTool, who likes to toss around smart-assed remarks, isn't. All the while telling us that if we get it wrong, we need to reassess our entire world view. I called him on that, which he hates. I challenged him to step up and, quite in character, he is now hiding out on this one.

You can always pick out volatile commodities that may bounce up/down, but a big driver this time in all the increased costs is increased wages being paid to hire people because of the labor shortage. That affects everything in virtually every industry. Wages aren't going to revert so costs on many goods won't either so the price of those goods also won't. For example, there are many machine component manufacturer's that have raised prices 2-3 times this year which is unheard of in the industrial market, but here we are. Those costs will continue to be pushed downstream and affect people and goods in countless sectors (from businesses to consumers). Purchasing power is being diminished at record rates right now - that much is not really debateable. I'm glad you see a path to all that being erased, I don't.
We will see. I hope I'm right. And, since economies have hundreds of variables and economists get it wrong a lot, one of us or both of us will be wrong.
 


Section2

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Yeah, not an indication that there are supply chain issues or anything.......
There are massive dislocations in the economy. And massive government intervention. And with covid and coming lockdowns and new mandates, it’s likely to get worse again.

supply chain problems aren’t minor things, btw.
 




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