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U.S. annual inflation rate drops to 8.5%
201–210 of 918 posts
Re: U.S. annual inflation rate drops to 8.5%
#202Earlier quoted context omitted.
I hope not, I'm tired of this bubbly fake economy of the past decade. Massive misallocation of capital into pointless unprofitable tech companies
Yes, I hate seeing my 401K grow too. Let's have a recession, it'll be fun!
There are other public companies than unprofitable tech cash blockholes.
Re: U.S. annual inflation rate drops to 8.5%
#203Earlier quoted context omitted.
A Sausage McMuffin and a coke used to cost $2.12 at most locations near me two years ago. Today it varies from $2.95 up to $3.85 (strangely this high value is in Detroit proper where income is lowest vs the burbs). I notice this price varies even at the same locations sometimes, but it's WAY up in general by a solid 50 percent in 2 years.
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So, why did these greedy companies not raise prices to this rate when times were good? Surely there's more money exchanging hands when times are fine and dandy.
Re: U.S. annual inflation rate drops to 8.5%
#204How easy this value can be verified? In other words, do we have all inputs public and the algorithm (with all its "hedonistic adjustments") is fully accessible? Can we track changes in the algorithm? Even with the effect of high base, I am getting increasingly suspicious of official numbers (same with the unemployment statistics). Energy costs have skyrocketed and they get into almost everything an economy produces.…
The number the authorities give out is far removed from reality. Just head over to the grocery store. Try buying electronics. Inflation is still raging and I'm afraid they are just going to tell people suck it up.
There is absolutely NO WAY inflation suddenly drops like this
Re: U.S. annual inflation rate drops to 8.5%
#205Earlier quoted context omitted.
Seems like EV uptake rate, while still just a fraction of total sales, is probably high enough to contribute to demand destruction. Gas prices have come down pretty fast. I wonder if EV adoption goes fast enough that we'll see a period of time when gas prices just crater for a while. A sweet spot of owning an ICE vehicle, but then gas stations will start to close up and ICEV owners could face the same problem EV owne…
When ppl talk about EVs overtaking petrol all I can do is shake head. Infrastructure is not there and is not going to be there for EVs for a long time. Its not only gas stations but also power plants, transit cables, personel, supply chains, technology, laws and other. If we make good investments it will take around 50 years in some developed EU countries to reach appropriate infrastructure levels. In less developed…
If you want to replace gas stations with EV charging stations that 'full-up' your car in less than 5 minutes, you're right.
But if every parking space just gets 1KW of solar panel ~$500 and sun shines for 10 hours a day, you probably have enough power for the 30 miles of daily commute. A car sits idle for 90% of the day. We can use this time to charge it.
It's not the long road trip use case but I think will put a big dent in the resources needed to migrate to EV.
Re: U.S. annual inflation rate drops to 8.5%
#206Earlier quoted context omitted.
Seems like EV uptake rate, while still just a fraction of total sales, is probably high enough to contribute to demand destruction. Gas prices have come down pretty fast. I wonder if EV adoption goes fast enough that we'll see a period of time when gas prices just crater for a while. A sweet spot of owning an ICE vehicle, but then gas stations will start to close up and ICEV owners could face the same problem EV owne…
When ppl talk about EVs overtaking petrol all I can do is shake head. Infrastructure is not there and is not going to be there for EVs for a long time. Its not only gas stations but also power plants, transit cables, personel, supply chains, technology, laws and other. If we make good investments it will take around 50 years in some developed EU countries to reach appropriate infrastructure levels. In less developed…
I'm not saying EVs are going to overtake ICEV anytime in the next few years. But a 10% reduction in demand for gasoline would be huge.
Not sure I'm feeling as pessimistic on infrastructure. A bunch of the infrastructure for EVs already exists and is wired to every house. Even if we converted 100% of all newly sold vehicles to EV today, the grid build-out required wouldn't be any harder than what we've done in the past.
Re: U.S. annual inflation rate drops to 8.5%
#207Good news I guess. But my electricity price literally doubled. My house insurance is up 30%. My gas bill is up by a lot. Have you seen the price of oreos? The $5 box at Taco Bell is my splurge and I'm trying to cut back on everything I can.
The vehicle we bought cost over 10% what the same vehicle would have cost last year. Groceries are 40% more than they were. Utility bill is up nearly 50%. Clothes and shoes don't seem to be more expensive, they just don't seem to go on sale anymore. Our neighbors had a new roof installed and spend almost double what we did 3 years ago, we have nearly the same house and the same contractor did it. Fast food has gone w…
Cat food has almost doubled and they’re still having problems stocking it.
Re: U.S. annual inflation rate drops to 8.5%
#208Earlier quoted context omitted.
The inflation on food due to high fuel and fertilizer prices won’t really kick in until October -> February during harvest. Next year food will be far higher, largely due to - people skipping fertilizer a second year in a row - the feed price increases from year prior will impact next years meat - much of the cow herds have been reduced due to hay prices skyrocketing (but beef rates staying far lower, due to sell off…
I'm not trying to be glib or intentionally controversial, but: is this a "market correction" for beef not really being as sustainable at recent consumption levels? Is it a bad thing if beef becomes significantly more expensive?
If your industry isn't able to sustain a 6x increase on production cost, is that a market correction?
Re: U.S. annual inflation rate drops to 8.5%
#209What are the actual metrics they use to measure inflation? My electric bill is 33% higher than previous years, my gas bill is similar. City/Water/Sewer doubled. Trips to the grocery store are up close to 20%, and gasoline doubled. Everything you actually purchase day-to-day is up far more than the inflation benchmarks, so much so it’s beginning to feel like propaganda. I overnight went from thinking “I make good mone…
There's no way to do "the main inflation number" and make everyone happy - because they have to try to find some way to include housing, and that either drags it way up or way down relative to how you "feel". If all other prices double, but you own or have fixed rent, you're going to feel it but the numbers will be muted; if all prices stay the same but your rent doubles, you're still going to feel it but the numbers…
Thats why median makes more sense for most calculations than average.
The median inflation for ppl in EU is around 30-50%.
In US its probably less 10-20%.
But its nowhere near of what goverments proclaim it to be.
Its really bad and its going to be worse if climate change hits hard.
Re: U.S. annual inflation rate drops to 8.5%
#210Good news I guess. But my electricity price literally doubled. My house insurance is up 30%. My gas bill is up by a lot. Have you seen the price of oreos? The $5 box at Taco Bell is my splurge and I'm trying to cut back on everything I can.
The inflation on food due to high fuel and fertilizer prices won’t really kick in until October -> February during harvest. Next year food will be far higher, largely due to - people skipping fertilizer a second year in a row - the feed price increases from year prior will impact next years meat - much of the cow herds have been reduced due to hay prices skyrocketing (but beef rates staying far lower, due to sell off…
>- if Ukraine doesn’t surrender, we can expect less food production and potential oil disruption to center Europe
If Russia doesn't surrender. Don't put the responsibility of global food prices on the people being repressed and killed in their own homes. Do it on the aggressors and war criminals.