Quote:

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Tyson Foods Inc. is struggling to raise prices fast enough to keep up with higher costs, CEO Donnie King said on Monday.

The Springdale, Arkansas-based food products company last quarter hiked its average price for pork by 39%. Beef and chicken prices jumped by 12% and 16%, respectively.

The price increases come as Tyson, like many other companies, grapples with higher raw material costs, global supply chain challenges and a rebound in demand.

"We have seen accelerating and unprecedented inflation," King said on the company's third-quarter earnings call. "Inflation is up about 14% during our 3Q [third quarter] and 9% year-to-date."

Pricing pressures have hit all segments of Tyson's business. Tyson is planning to raise retail prices on Sept. 5 after already having increased prices for restaurant customers.

While grain costs and the cost of goods sold are projected to peak in the fourth quarter of this year, the company cannot rule out further price increases, according to King.

---

https://www.foxbusiness.com/markets/tyson-foods-grappling-with-unprecedented-inflation



OP maybe you should clearly define what transitory means in your head....

Helicopter Ben said:

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kb2001 said:

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ETA- the post is written like a grade school paper as well, so this points even more to a prof at TAMU being responsible for poisoning this mind

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Unfortunately, I think you're right. And I don't think this is a troll. My MIL is an economics professor and this is almost exactly what she believesand teaches.

While it's kind of funny to observe such insanity, these beliefs are currently manifesting themselves into real-world policies. It's like we've let a blind, insane person take the driver's seat and we're plummeting down a huge hill straight for a cliff. And nobody is stopping them.

The one thing I'm not sure of is if the people in power truly believe this. It defies all logic yet they persist no matter how much evidence, history, or reason you present them with. I think the truly powerful people behind the scenes know it's all bull****, but it's just a good way to harvest the wealth of an entire population.

When you point out that history is littered with examples of governments who have done the exact same thing only to end in ruin, they respond with something along the lines of "the world will never abandon the dollar." In other words nuh uh!

Every single fiat currency in history has gone to zero and ultimately been discarded. This destroys the value of savings and transfers wealth from the productive to the non productive. How they can argue against it is pure insanity. They are flat out wrong and I'm tired of arguing.

The OP even said he's more worried about deflation. As if falling prices and a lower cost of living are somehow a bad thing. Again, pure insanity! Orwellian back-asswards nonsense. The natural order is for most things to get less expensive. Yet somehow the government has convinced people that it's good for them to lose purchasing power over time.

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And wealth. The current economic theory not only destroys purchasing power today, it destroys your long term ability to create wealth

Oldag2020 said:

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I looked around, used deductive reasoning, researched the topic, listened to my employer(bulge bracket asset management in NYC) and came to my conclusion.

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Ah, there is the source of the hubris.

Let me ask you, how many people in that asset management company were selling mortgage backed securities related to no-look "liar" jumbo loans around 2007?

I bet that the same people that are saying inflation can't happen today were the ones saying housing prices can't ever go down in 2007, so mortgage underwriting is over-rated.

If you work for a "Bulge bracket asset management company in NYC", you can obviously never be wrong.

One question: can you explain how we got the stagflation of the 1970's? Any what was different then than today?

Oldag2020 said:

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BuddysBud said:

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This reads like a perpetual motion machine.
Put a big fan in front of a windmill to blow on the blades to generate electricity that powers the fan. The fan blowing the windmill will never stop because the windmill keeps turning by the fan blowing on it. Easy.

Look, and endless supply of energy.

---

That is precisely where we are. I don't believe I could have said it any better!

---

And there you have it. We are discussing two-windmill economics here.

I'm going to go get more iced tea.

Science Denier said:

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Oldag2020 said:

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Science Denier said:

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Quote:

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Everyone will expect the $1T infrastructure bill to increase inflation. Guess what? It won't. We will, however, grow faster than ever.

---

Your, uh, idea lumps all spending the same. Let's ignore your statement that government spending won't affect inflation. That's another topic. Let's specifically talk about this one piece of "evidence" you give to support your argument.

We have been paying individuals almost $60,000 PER PERSON to specifically NOT WORK. Don't work? Here is $60k. If someone works for less than $28.80/hr, they get a paycut. That raises wages pretty much across the board. That will directly cause inflation, and has caused an incredible amounts of inflation to date. The reason the MASSIVE inflation has happened is directly tied to this very specific payment.

The reason inflation has slowed is that capitalism required businesses to adjust and pay alot more for labor right away. if not, they go out of business. That's happened, pricing has been adjusted and thus, no more inflation. This incredibly horrible "infrastructure" bill WILL add to that.

While your premise "spending won't cause inflation" is incredibly stupid, your "evidence" that inflation is slowing down was at a level of incredibly stupid I just could NOT ignore it. This is straight out of the lib narrative the media is spouting in order to try to give some cover for our demented, old, socialist POTUS.

---

The temporary increase to inflation was created by bottlenecks and supply chain disruptions. There was too much pent up demand and not enough supply to handle the temporary disequilibrium in the markets. It had nothing to do with people refusing to work.

---

OK, let's stay in fantasy land for a moment. Why, in your world, are there bottlenecks and supply chain disruptions? Are those not due to the labor shortage that was created by paying people to stay home? I mean, almost every business out there is crying about labor shortages.

---

Try shutting down the global economy during a pandemic.

Suppliers shut down or drastically slowed production because they wrongly overestimated the length of lock downs. Many suppliers forecasted that the lockdowns would last years. Not months. Then the economy suddenly reopened. In many industry's it can take months to revamp supply. Especially when there was pent up demand because everyone was locked in their house unable to spend their money.

Oil is a prime example:
OPEC cut production. Supply slumped but it was okay because everyone was locked in their houses, no one traveling. Then suddenly everyone started traveling, driving, flying etc. Oil reserves depleted faster than production could return to it's pre pandemic level. And oil prices temporarily increased.

TheEternalPessimist said:

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Earl_Rudder said:

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Quote:

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The Earth's core is going to cool into solid rock eventually, nothing escapes the law of entropy. I think the estimate is about 90 billion years, but I imagine drilling a hole to it to generate steam power would radically accelerate that timeline.

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Uh... The Earth won't even be around in ~5 billion years when the sun expands to halfway between Earth and Mars.

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Wrong. The Earth will never be completely destroyed. God assures us of this in his Word. Heaven and Earth will be united at the conclusion of all eschatological events, and the Earth will be restored to is creative pinnacle, and inhabited by the saints in eternal communion.

---

Either TheEternalPessimist doesn't count him/her self among the saints; or user name does not check out.

MuchosPollos said:

---

Quote:

---

Tyson Foods Inc. is struggling to raise prices fast enough to keep up with higher costs, CEO Donnie King said on Monday.

The Springdale, Arkansas-based food products company last quarter hiked its average price for pork by 39%. Beef and chicken prices jumped by 12% and 16%, respectively.

The price increases come as Tyson, like many other companies, grapples with higher raw material costs, global supply chain challenges and a rebound in demand.

"We have seen accelerating and unprecedented inflation," King said on the company's third-quarter earnings call. "Inflation is up about 14% during our 3Q [third quarter] and 9% year-to-date."

Pricing pressures have hit all segments of Tyson's business. Tyson is planning to raise retail prices on Sept. 5 after already having increased prices for restaurant customers.

While grain costs and the cost of goods sold are projected to peak in the fourth quarter of this year, the company cannot rule out further price increases, according to King.

---

https://www.foxbusiness.com/markets/tyson-foods-grappling-with-unprecedented-inflation



OP maybe you should clearly define what transitory means in your head....

---

what is systematic inflation?

Quote:

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Our productive capacity is so high, in fact, I believe our biggest fear should be deflation, not inflation.

---

Wow. Just wow. I cannot believe even the most devoted Keynesian would write this with a straight face.

The only reason all the money printing by the Fed did not produce massive inflation in 2008-2010 was the even more massive decrease in asset values.

The analysis by the OP is wrong on so many levels, I do not even know where to start.

Prices will not simply revert to normal in the short run just because the prices of certain inputs were artificially inflated by disruption in production. There is way too much money in the money supply right now. Part of it is from the Fed's money printers going bbbbrrrrrrr, and part of it by the massive overspending by Congress in 2020, and 2021 (and likely in 2021).

Our nation's fiscal policy and massive debt is growing so large, so fast, that inflation may be the only way to pay it off. Usually economists would look to growing your way out of it. Due to the massive overspending by congressional democommies and RINOs, inflation may be our only way out.

Welcome to Venezuela.

Can someone please explain to me:

Why has the dollar increased in value compared to foreign currencies in the last year?

Answer - all countries are racing to debase their currencies. Many are debasing faster than we are. We MUST spend to deflate the dollar so that we can INCREASE exports thereby growing the US economy. If we were to stop spending, we would lose global competitiveness.

Oldag2020 said:

---

Science Denier said:

---

Oldag2020 said:

---

Science Denier said:

---

Quote:

---

Everyone will expect the $1T infrastructure bill to increase inflation. Guess what? It won't. We will, however, grow faster than ever.

---

Your, uh, idea lumps all spending the same. Let's ignore your statement that government spending won't affect inflation. That's another topic. Let's specifically talk about this one piece of "evidence" you give to support your argument.

We have been paying individuals almost $60,000 PER PERSON to specifically NOT WORK. Don't work? Here is $60k. If someone works for less than $28.80/hr, they get a paycut. That raises wages pretty much across the board. That will directly cause inflation, and has caused an incredible amounts of inflation to date. The reason the MASSIVE inflation has happened is directly tied to this very specific payment.

The reason inflation has slowed is that capitalism required businesses to adjust and pay alot more for labor right away. if not, they go out of business. That's happened, pricing has been adjusted and thus, no more inflation. This incredibly horrible "infrastructure" bill WILL add to that.

While your premise "spending won't cause inflation" is incredibly stupid, your "evidence" that inflation is slowing down was at a level of incredibly stupid I just could NOT ignore it. This is straight out of the lib narrative the media is spouting in order to try to give some cover for our demented, old, socialist POTUS.

---

The temporary increase to inflation was created by bottlenecks and supply chain disruptions. There was too much pent up demand and not enough supply to handle the temporary disequilibrium in the markets. It had nothing to do with people refusing to work.

---

OK, let's stay in fantasy land for a moment. Why, in your world, are there bottlenecks and supply chain disruptions? Are those not due to the labor shortage that was created by paying people to stay home? I mean, almost every business out there is crying about labor shortages.

---

Try shutting down the global economy during a pandemic.

Suppliers shut down or drastically slowed production because they wrongly overestimated the length of lock downs. Many suppliers forecasted that the lockdowns would last years. Not months. Then the economy suddenly reopened. In many industry's it can take months to revamp supply. Especially when there was pent up demand because everyone was locked in their house unable to spend their money.

Oil is a prime example:
OPEC cut production. Supply slumped but it was okay because everyone was locked in their houses, no one traveling. Then suddenly everyone started traveling, driving, flying etc. Oil reserves depleted faster than production could return to it's pre pandemic level. And oil prices temporarily increased.

---

This is 100% false. At this point I am wondering if you just spout what you read on Wikipedia. No one, absolutely zero, as in 0.00% of manufacturers and suppliers forecasted lockdowns lasting years. I am not going to say anything about your economic theory, as that is not my field, but you stepped into my field of expertise and made a ridiculous statement.

MuchosPollos said:

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OP watch this....




The DunningKruger effect is a hypothetical cognitive bias stating that people with low ability at a task overestimate their ability.

As described by social psychologists David Dunning and Justin Kruger, the bias results from an internal illusion in people of low ability and from an external misperception in people of high ability; that is, "the mis-calibration of the incompetent stems from an error about the self, whereas the mis-calibration of the highly competent stems from an error about others". It is related to the cognitive bias of illusory superiority and comes from people's inability to recognize their lack of ability. Without the self-awareness of metacognition, people cannot objectively evaluate their level of competence.

The effect, or Dunning and Kruger's original explanation for the effect, has been challenged by mathematical analyses and comparisons across cultures.

---

Yeah, I call this "Anything someone does NOT know how to do, they assume is easy for me to do for them."

Oldag2020 said:

---

Science Denier said:

---

Oldag2020 said:

---

Science Denier said:

---

Quote:

---

Everyone will expect the $1T infrastructure bill to increase inflation. Guess what? It won't. We will, however, grow faster than ever.

---

Your, uh, idea lumps all spending the same. Let's ignore your statement that government spending won't affect inflation. That's another topic. Let's specifically talk about this one piece of "evidence" you give to support your argument.

We have been paying individuals almost $60,000 PER PERSON to specifically NOT WORK. Don't work? Here is $60k. If someone works for less than $28.80/hr, they get a paycut. That raises wages pretty much across the board. That will directly cause inflation, and has caused an incredible amounts of inflation to date. The reason the MASSIVE inflation has happened is directly tied to this very specific payment.

The reason inflation has slowed is that capitalism required businesses to adjust and pay alot more for labor right away. if not, they go out of business. That's happened, pricing has been adjusted and thus, no more inflation. This incredibly horrible "infrastructure" bill WILL add to that.

While your premise "spending won't cause inflation" is incredibly stupid, your "evidence" that inflation is slowing down was at a level of incredibly stupid I just could NOT ignore it. This is straight out of the lib narrative the media is spouting in order to try to give some cover for our demented, old, socialist POTUS.

---

The temporary increase to inflation was created by bottlenecks and supply chain disruptions. There was too much pent up demand and not enough supply to handle the temporary disequilibrium in the markets. It had nothing to do with people refusing to work.

---

OK, let's stay in fantasy land for a moment. Why, in your world, are there bottlenecks and supply chain disruptions? Are those not due to the labor shortage that was created by paying people to stay home? I mean, almost every business out there is crying about labor shortages.

---

Try shutting down the global economy during a pandemic.

Suppliers shut down or drastically slowed production because they wrongly overestimated the length of lock downs. Many suppliers forecasted that the lockdowns would last years. Not months. Then the economy suddenly reopened. In many industry's it can take months to revamp supply. Especially when there was pent up demand because everyone was locked in their house unable to spend their money.

Oil is a prime example:
OPEC cut production. Supply slumped but it was okay because everyone was locked in their houses, no one traveling. Then suddenly everyone started traveling, driving, flying etc. Oil reserves depleted faster than production could return to it's pre pandemic level. And oil prices temporarily increased.

---

Ah, so the global pandemic is the reason for supply chain issues. Of course.

This has been quite entertaining.

Oldag2020 said:

---

Can someone please explain to me:

Why has the dollar increased in value compared to foreign currencies in the last year?

Answer - all countries are racing to debase their currencies. Many are debasing faster than we are. We MUST spend to deflate the dollar so that we can INCREASE exports thereby growing the US economy. If we were to stop spending, we would lose global competitiveness.

---

Square that with your statement that we have almost limitless productivity growth.

If we can make something for $4 that it costs everyone else $10 to make, it doesn't matter if they debase their currency by 50%. And we get to buy all of their natural resources for really cheap!

TacosaurusRex said:

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Oldag2020 said:

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Suppliers shut down or drastically slowed production because they wrongly overestimated the length of lock downs. Many suppliers forecasted that the lockdowns would last years. Not months. Then the economy suddenly reopened. In many industry's it can take months to revamp supply. Especially when there was pent up demand because everyone was locked in their house unable to spend their money.

---

This is 100% false. At this point I am wondering if you just spout what you read on Wikipedia. No one, absolutely zero, as in 0.00% of manufacturers and suppliers forecasted lockdowns lasting years. I am not going to say anything about your economic theory, as that is not my field, but you stepped into my field of expertise and made a ridiculous statement.

---

I know a whole hell of a lot of companies in SF that forecasted multi-year lockdowns.

Manufacturing suppliers? I don't know.

Oldag2020 said:

---

Can someone please explain to me:

Why has the dollar increased in value compared to foreign currencies in the last year?

Answer - all countries are racing to debase their currencies. Many are debasing faster than we are. We MUST spend to deflate the dollar so that we can INCREASE exports thereby growing the US economy. If we were to stop spending, we would lose global competitiveness.

---

No. Not even close.

Most of Europe continues to operate in a negative interest rate environment. The interest rates in the U.S. are still positive (barely), and the U.S. equities markets continue to outperform the socialist European economies. That makes the U.S. dollar attractive compared to the Euro, for now.

At some point we will hit the point that the Fed will need to increase interest rates to head off inflation. The problem is that the dems' massive overspending requires continued near zero interest rates to finance the spending orgy. You cannot have both, despite the fantasy economics of the Keynsians.

The Fed will try everything else first to head off inflation, such as cutting the asset purchases that should have been eliminated years ago. If that does not work, the choice is higher interest rates that blow out the budget or high inflation. Guess what the communist dems will choose?

Central Committee said:

---

Oldag2020 said:

---

Can someone please explain to me:

Why has the dollar increased in value compared to foreign currencies in the last year?

Answer - all countries are racing to debase their currencies. Many are debasing faster than we are. We MUST spend to deflate the dollar so that we can INCREASE exports thereby growing the US economy. If we were to stop spending, we would lose global competitiveness.

---

No. Not even close.

Most of Europe continues to operate in a negative interest rate environment. The interest rates in the U.S. are still positive (barely), and the U.S. equities markets continue to outperform the socialist European economies. That makes the U.S. dollar attractive compared to the Euro, for now.

At some point we will hit the point that the Fed will need to increase interest rates to head off inflation. The problem is that the dems' massive overspending requires continued near zero interest rates to finance the spending orgy. You cannot have both, despite the fantasy economics of the Keynsians.

The Fed will try everything else first to head off inflation, such as cutting the asset purchases that should have been eliminated years ago. If that does not work, the choice is higher interest rates that blow out the budget or high inflation. Guess what the communist dems will choose?

---

Wrong. They will not raise interest rates - they can't, you are right. They will raise taxes. Taxes are now a lever to control inflation.

Feeling guilty now I didn't put 20% into savings this month.

Inflation IS the tax.

The dems will not raise taxes to stifle inflation. That would require massive taxes on the middle class - and they won't do it.

Inflation is the intended outcome by the Fed and the dems.

Remember, libs that 'fight for $15?'

Gonna need $20 now, because that $15 is about to go 'poof' in the face of high inflation.

BuddysBud said:

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Oldag2020 said:

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BuddysBud said:

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Oldag2020 said:

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BuddysBud said:

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Oldag2020 said:

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BuddysBud said:

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Oldag2020 said:

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Demand is temporarily outpacing our production(supply). Due to covid shut downs and supply chain disruptions. Ex. Lumber prices were inflated, now they are correcting themselves.

Once our supply chains are back up to full capacity, the added demand created by the stimulus will not cause long lasting inflation.

Our productive capacity is so high, in fact, I believe our biggest fear should be deflation, not inflation. Our productivity growth is not disappearing any time soon. The inputs to production are 1. Technological advancements and 2. Increase in labor force. Our computing power doubles every 18 months. Clearly this growth will not disappear.

It's no accident that we have continued to spend more and more throughout the last several decades with little to zero long term negative consequences.

In fact, the fed has struggled the last decade to maintain their inflation level goal of 2%. This even Despite massive spending in 2008 and artificially low interest rates.


Another reason we should not be concerned by the massive spending is that $1 in government spending = greater than $1 in gdp growth.
Gdp growth = 1/ the propensity to save
The propensity to save is currently ~ 20%
Therefore every dollar spent today grows our gdp tomorrow by $5

This $5 of gdp growth then increases tax revenue by $5.
This increase in tax revenue is used to service the debt.

Basically, we can spend as much as we want with little to zero negative consequences. Long term inflation is not on the way.

Be sure to allocate portfolios accordingly.

---

This reads like a perpetual motion machine.
Put a big fan in front of a windmill to blow on the blades to generate electricity that powers the fan. The fan blowing the windmill will never stop because the windmill keeps turning by the fan blowing on it. Easy.

Look, and endless supply of energy.

---

That is precisely where we are. I don't believe I could have said it any better!

---

Since perpetual motion machines are impossible, your post was sarcasm.

You fooled many of us. Good job.

---

They are in fact, not impossible.

Imagine if you drilled to the earths core, shot water into that hole, and used the steam generated by the earth as a source of power. That is limitless power that theoretically can never run out. The power created by the steam could be used to perpetually power itself, making a perpetual power machine.

This in fact is currently being developed by a team of billionaire investors through one of their family offices.

I am not sarcastic. I fully believe my OP

---

Perpetual motion machines are in fact impossible. It is Newton's Second Law. Drilling into the center of the earth is taking energy from internal heat generation within the earth, primarily nuclear decay. In your example, external energy would be used to heat the water. It would also take a lot of energy to drill that deep and to produce materials that could withstand such extreme pressure and heat. Removing the internal heat for our energy use could eventually cool the earth's interior, thereby ending plate tectonics, which would have real consequences regarding ocean currents, the atmosphere, weather, and climate. Nuclear fusion would also produce what we might consider and endless supply of energy, but it takes energy to start the reaction and energy for containment. Basically it is conversion of potential energy to mechanical energy, as is nuclear fission, and burning wood, coal, oil, and gas. The conversion of potential energy to mechanical produces the excess energy that powers our civilization.

In physics it is impossible to get something from nothing. Economics is the same. Everything has consequences, and it is impossible to just create endless money for unrestrained endless spending by the government without affecting the value of the money.

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I'll leave it to the billionaires to decide what investments they should pursue.

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It's their money to waste.
There are other more practical "limitless" energy sources that are much closer to being possible, such as nuclear fusion.

I wonder what these billionaires plan to use for casing that could withstand the heat and pressure. Diamond?

---

Boron

Captain Pablo said:

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bump

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Lol

Chicken thighs were $4.00 pound from Tyson. That's $1.50 more than a couple months ago where I live.

Where did the OP go?

Captain Pablo said:

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bump

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King

Epic

Oldag2020 said:

---

MuchosPollos said:

---

Quote:

---

Tyson Foods Inc. is struggling to raise prices fast enough to keep up with higher costs, CEO Donnie King said on Monday.

The Springdale, Arkansas-based food products company last quarter hiked its average price for pork by 39%. Beef and chicken prices jumped by 12% and 16%, respectively.

The price increases come as Tyson, like many other companies, grapples with higher raw material costs, global supply chain challenges and a rebound in demand.

"We have seen accelerating and unprecedented inflation," King said on the company's third-quarter earnings call. "Inflation is up about 14% during our 3Q [third quarter] and 9% year-to-date."

Pricing pressures have hit all segments of Tyson's business. Tyson is planning to raise retail prices on Sept. 5 after already having increased prices for restaurant customers.

While grain costs and the cost of goods sold are projected to peak in the fourth quarter of this year, the company cannot rule out further price increases, according to King.

---

https://www.foxbusiness.com/markets/tyson-foods-grappling-with-unprecedented-inflation



OP maybe you should clearly define what transitory means in your head....

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---

OP looks like you answered the question and then deleted it back in August.....Don't worry, we all make stupid predictions and statements here. I do it all the time.

Come on, sack up. What is/was your definition of transitory?

Poor OP... dude really believed that garbage.

Tom Doniphon said:

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Poor OP... dude really believed that garbage.

---

No, but for real, leftists will get it right this time.

LIAR

Issue with the squirter is he was trained as many if your kids in the college if liberal arts. Economics is theory. And it's been taken over 100% by marxist.

I argued with our economics republican on websider and he said data doesn't show.

The leftist trained like 2020 have installed Marxism.

They want to print money to finance debt [them getting rich] then have inflation.

Who does it hurt the most?

The elderly living on fixed income
Welfare
Mon wage. You get one increase to dagger the side on the other.

But it's hurting every American worker too

Whos it help?

Those that own tons of real estate.

They want the great reset on our currency so no private ownership except the user elite.

Just like you see in China and in the former ussr