Stupid@17 said:
Chicken thighs were $4.00 pound from Tyson. That's $1.50 more than a couple months ago where I live.
Out of curiosity, i went and looked at OP's post history. It's a whole pile of one bad takeafter another when it comes to economics.MuchosPollos said: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.Oldag2020 said:MuchosPollos said:https://www.foxbusiness.com/markets/tyson-foods-grappling-with-unprecedented-inflationQuote:
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.
OP maybe you should clearly define what transitory means in your head....
Come on, sack up. What is/was your definition of transitory?
A few months.Quote:
*Transitory
Yes, current inflation levels are transitory. We will get back to our pre pandemic levels in a few months.
Quote:
The reason we have open jobs isn't because the government is paying people to sit at home. Those payments stopped months ago. It is because our economy has grown dramatically over the last few decades, while our working age population is shrinking. This is the reason Democrats advocate for open borders.
Quote:
I'm amazed that some of you believe you are smarter than the fed. It's mind blowing.
The article says the 4% is based on consumer expeditions. Basically all of the doomsayers believe inflation is 4%. It's completely detached from reality.
A better metric is that the market is pricing inflation at 2.5%. That's only .5% above the feds target, and is hardly something to be concerned by.
Quote:
Inflation is beginning to slow - and will continue to slow over the next several months.
Lesson learned - An Increase in spending does not lead to an increase in long term inflation.
Everyone will expect the $1T infrastructure bill to increase inflation. Guess what? It won't. We will, however, grow faster than ever.
There are many bright days ahead here in America. We should all be extremely bullish.
Quote:
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.
Quote:
The increase in prices is transitory. Due to supply/demand imbalances caused by covid shutdowns. There is nothing to worry about long term
Oldag2020 said:
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.
cupcakesprinkles said:Oldag2020 said:
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.
Good grief. This is one of the most dead ass wrong posts to ever grace Texags.
So, we just need to spend $10 trillion this year, that will increase next year's GDP by $50 trillion. $50 trillion in GDP growth will give us $50 trillion in tax revenue. We can write a check for the national debt and still have $15 trillion or so to spend, which will get us an increase in GDP and taxes of $60 trillion. All we need to do now is figure out how we have a $29 trillion national debt if every dollar spent by the government increases tax revenue by $5.Oldag2020 said:
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.
Just look at Alan Blinder's OpEds in the WSJ. I cannot believe they still print his garbage.oh no said:
Some of you need to stop giving the OP credit by saying things like "analysis by the OP". OP didn't analyze anything; just CTRL+C & CTRL+V from some of the propaganda he reads.
Oldag2020 said:
Cross check YOUR sources with,
1. CPA material
2. Leading banks (JP Morgan)
3. Large asset managers
4. Leading economists of current (not of the 1820s of which you people seem to be so fixated on)
5. The fed
That's 5 reputable sources that are all saying the same thing.
OldArmyBrent said:cupcakesprinkles said:Oldag2020 said:
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.
Good grief. This is one of the most dead ass wrong posts to ever grace Texags.
It's just the classic perpetual motion machine economic theory. Just spend more and we'll eventually fix all this!
If you truly want to see what a complete lack of critical thinking skills looks like, look no further than a democrat. These people, just like the op, will watch the msm and then vomit all their talking points back to people as some sort of defense of the failures that are happening all around them. It is truly disgusting how these people can continue to parrot the lies of the democrats and establishment as everything is burning down.Redstone said:
Just came across this, after OP's total decimation on Business board.
We as a people are economically dumb. We didn't used to be. One of the reasons I studied Econ before law school was growing up in the 70s and watching my parents struggle with runaway inflation. As a pre-teen I remember watching the national news - every week we were told what M1 was that week - why? Because we understood the relationship between money supply and inflation. Sadly, nobody even talks in those terms anymore. At base, inflation comes from too much money chasing too few goods - sound familiar? Try to explain that to a Dem - they don't understand (or care to understand) markets. They only understand attempts at control. It's maddening.Quote:
Why are we taught keynesian economics in grade school as if it's gospel, as if there's no other logical way to view our economy? We should root the teaching of keynesian economics out of our schools just like CRT. It's probably more destructive than CRT.
Redstone said:
Exactly as I posted on Business recently …..
Where is the OP?
???
You can always count on Keynsians to speak with complete confidence while being to laughably wrong. Never any consideration that their fundamental view on economics is completely wrong.Cromagnum said:Redstone said:
Exactly as I posted on Business recently …..
Where is the OP?
???
Something happened in November to change his mind.
They're changing how we calculate inflation in Jan of 2022....so, I hate to say it, but he's likely going to be proven right (despite a taco bell taco probably costing $1.99 in 2024).Cromagnum said:Redstone said:
Exactly as I posted on Business recently …..
Where is the OP?
???
Something happened in November to change his mind.
Just your friendly reminder that Modern Monetary Theory is complete bull**** spouted by professors that couldn't succeed running a lemonade stand.Quote:
Wholesale prices increased at their quickest pace on record in November in the latest sign that the inflation pressures bedeviling the economy are still present, the Labor Department reported Tuesday.
The producer price index for final demand products increased 9.6% over the previous 12 months after rising another 0.8% in November. Economists had been looking for an annual gain of 9.2%, according to FactSet.
Excluding food and energy, prices rose 0.7% for the month, putting core PPI at 6.9%, also the largest gain on record. Estimates were for respective gains of 0.4% and 7.2%, meaning the monthly gain was faster than estimates but the year-over-year measure was a bit slower.
The Labor Department's record keeping for the headline number goes back to November 2010, while the core calculation dates to August 2014.
Those numbers come with headline consumer prices running at their fastest pace in nearly 40 years and core inflation the hottest in about 30 years.
14.2% if you were to use the same calculations as we did under Carter.silverleaf said:They're changing how we calculate inflation in Jan of 2022....so, I hate to say it, but he's likely going to be proven right (despite a taco bell taco probably costing $1.99 in 2024).Cromagnum said:Redstone said:
Exactly as I posted on Business recently …..
Where is the OP?
???
Something happened in November to change his mind.
#rabble
That being said - I wonder what inflation would be if we calculated the CPI with methods similar to the past (like actually being able to compare it to stagflation, or the 1920's).
Nope, that's the article I posted this morning about 4 posts up above yours.Redstone said:
Going around Twitter
"U.S. producer price inflation jumps 9.6% year over year in November, much higher than expected and the highest increase on record."
Is this the Fake News?
Just bumping this and checking in how transitory this inflation is.Quote:
Inflation plowed ahead at its fastest 12-month pace in nearly 40 years during December, according to a closely watched gauge the Labor Department released Wednesday.
The consumer price index, a gauge that measures costs across dozens of items, increased 7%, according to the department's Bureau of Labor Statistics. On a monthly basis, CPI increased 0.5%.
Economists surveyed by Dow Jones had been expecting the measure to increase 7% on an annual basis and 0.4% from November.
The annual move was the fastest increase since June 1982.
Excluding food and energy prices, so-called core CPI increased 5.5% year over year and 0.6% from the previous month. That compared to estimates of 5.4% and 0.5%. For core inflation, it was the fastest annual increase since February 1991.
Shelter costs, which make up about one-third of the total rose 0.4% for the month and 4.1% for the year. That was the fastest pace since February 2007.
