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US inflation jumps to 3.8% as energy costs surge from Iran war

bbc.com

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Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#131

Post by outside1234 »

khriss wrote: post #32

I can't think of a single way in which the United States came out ahead in the war. We have * Demonstrated that the US simply can't offer any meaningful security guarantee to it's middle east partners. * Permanently ceded de facto control over the straits of Hormuz to Iran * Significantly strengthened the hardliners in the Iranian regime and cleared the way for them to have absolute power by eliminating all moderates…

Probably going to juice EV sales is the only positive I'm taking away from this. Trump might end up being the person who tipped the balance and kills the ICE car.

(Once ICE cars fall below a certain percentage, they will have structural disadvantages to EVs because ICE engines are so expensive to design.)

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#132

Post by randusername »

doctorpangloss wrote: post #7

energy pricing is complex. some food for thought: if everyone believes the straight of hormuz is open, even if it is not, even if 20% less oil is being moved globally, what happens to oil prices? what happens to oil deliveries? is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more? is oil the same as energy? or is it more relevant to transportation? does…

> is it possible for oil to be cheap in America while Bangladesh experiences shortages, instead of everyone paying more?

I think the US has been ramping up domestic oil production for a while, creating an interesting situation where (global) prices are high but (domestic) supply is healthy. Prices are up at the pump in the US, but I'm not sure how much of that OPEC+ price-fixing or "risk premium".

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#133

Post by sosomoxie »

dirck-norman wrote: post #126
sosomoxie wrote: post #61

Earlier quoted context omitted.

Wow, this is just a blatant lie. It’s Israel that is ethically cleansing Lebanon, not Iran. The hasbara is getting more desperate every day.

[flagged]

I’m a developer who has to deal with Zionism every day. We’re speed running IBM and the Holocaust. Commenting about it is the very least I can do.

I have zero issue with Hezbollah.

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#134

Post by AntiUSAbah »

baggy_trough wrote: post #77
AntiUSAbah wrote: post #57

Earlier quoted context omitted.

What is your comment adding to this discussion? Do you want to say, that a specific small group of people are positive about a surge in energy costs? How does that reflect your acceptance of the overall climate change topic you are referencing? You do not believe in it? Or do you believe in it but you do not care? Like the latest AMOC paper doesn't bother you in particular? Am I a climate activist if i think its very…

I just think it's amusing that this is presented as a very bad thing in the context of Trump, but it's what climate activists have been seeking (only more so). When climate activists pursue this goal, it's presented as a laudable self sacrifice we must accept.

Because there is a gigantic difference between "I will now change the lives of everyone on the planet just because and in a very short period of time without thinking about any long term goals or consequences" vs. "we want the planet to be habital for our children and for everyone affected by this, lets start pushing for investing into renewable energy instead of just burning fossil fuels".

Even tarifs in general are not necessarily a bad idea, its a horrendes bad idea if you wiggle your thumb around, guess numbers from 0-100 and higher, let that be printed on a piece of cardboard and present it to the world as the current leader of the biggest co2 producer and military power on the whole planet affecting suddenly everyone.

You do see the issue i hope?

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#135

Post by giantg2 »

pastel8739 wrote: post #70
giantg2 wrote: post #21

Earlier quoted context omitted.

Those are real wages. We would expect to see that during a sudden jump in inflation. Wages tend to lag inflation. The other interesting part in that article is that excluding fuel and food still shows 2.8% inflation - only 1% attributable to food and fuel. Makes it seem like the main article and this article have different spins. Edit: Wow people are jumping on this. The point is that food and fuel increases account…

> only 1% attributable to food and fuel What do you mean by this? If adding food and fuel raises CPI by 1%, then the food and fuel prices have necessarily raised by _more_ than the combined 3.8%.

"What do you mean by this?"

Pretty simple - an overall increase of 1% inflation is attributed to food and fuel.

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#136

Post by wing-_-nuts »

some-guy wrote: post #47
baggy_trough wrote: post #35

[flagged]

Ironically Trump may end up being the most pro green energy president at the end of all of this.

Yeah, funny, all the people that turned away from EVs because the subsidies were going away suddenly realize that EVs and renewables are a much more resilient combo than being reliant on fossil fuels and their refining network.

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#137

Post by kccqzy »

dwa3592 wrote: post #17

I understand it is a complicated calculation but to me personally, inflation feels much more than that. I have been tracking the price of milk. Around 3 months ago, i was getting a gallon of milk at $2.97, then it went up to 3.07, then 3.25. Yesterday I paid 3.40. That's like 15% gain on something as basic as milk. All numbers from the same store.

Yeah my large bag of whey protein (derived from milk) went up from $35 to $55. Same store and same brand.

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#138

Post by runako »

dwa3592 wrote: post #17

I understand it is a complicated calculation but to me personally, inflation feels much more than that. I have been tracking the price of milk. Around 3 months ago, i was getting a gallon of milk at $2.97, then it went up to 3.07, then 3.25. Yesterday I paid 3.40. That's like 15% gain on something as basic as milk. All numbers from the same store.

One thing I have noted during this inflationary period is that individual stores/chains are gaming pricing much more than I remember before.

For example, your store might be competing for business using the headline price of eggs and making it up on milk and bread. In our city, Whole Foods was the cheapest non-warehouse place to buy eggs for a while. Anecdotally, it looks like one could save a relatively large % on various goods simply by going to a different store, which was not the case a few short years ago.

Relative pricing stability appears to have collapsed, shopping is more intellectually-intensive now.

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#139

Post by phainopepla2 »

AnimalMuppet wrote: post #48
joe_mamba wrote: post #41

Earlier quoted context omitted.

>I can't think of a single way in which the United States came out ahead in the war. The stock market did, which is amazing if you're the top 10% of asset owners who own 50% of the country's wealth. >except Russia by heaping sky rocketing energy costs on them Russia doesn't benefit from this energy spike, since its biggest customers, China and India, have long term contracts that Russia can't just rip and renegotiate…

Did the stock market come out ahead? The Dow is about where it was when this started.

The Dow is not the stock market. Look at the total stock market (something like VTI).

That said, it seems that the stock market is doing well in spite of this war, and not because of it. Who knows how long that will last

Re: US inflation jumps to 3.8% as energy costs surge from Iran war

#140

Post by zulux »

runako wrote: post #103
parineum wrote: post #26

Earlier quoted context omitted.

Part of the reason people voted for "no more wars" was because of the long history of more wars from both parties. Desperate people make desperate choices.

> long history of more wars from both parties Which wars were started by Democratic presidents in the last half-century?

Vietnam.
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