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Business, Economics, and Taxes: Capitalism. Yay? >=(

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Alright, can someone, or multiple someones, explain the answer to my question:

Given the data presented here: https://www.usinflationcalculator.co...flation-rates/ the current inflation rate is 6.2, based on a rolling calendar year from October 2020 to October 2021.

Therefore, my question: How much of the rolling inflation numbers are from the grand-reopening of America this summer causing a spike in goods, coupled with a supply downturn from chips/pandemic?

And is this just a GQP talking point because this should level out, or is this a point of concern?
 
aparch said:
Alright, can someone, or multiple someones, explain the answer to my question:

Given the data presented here: https://www.usinflationcalculator.co...flation-rates/ the current inflation rate is 6.2, based on a rolling calendar year from October 2020 to October 2021.

Therefore, my question: How much of the rolling inflation numbers are from the grand-reopening of America this summer causing a spike in goods, coupled with a supply downturn from chips/pandemic?

And is this just a GQP talking point because this should level out, or is this a point of concern?
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I don't think anyone really knows, but my guess is that this is temporary and caused by the re-opening of the economy and corporations padding margins.

A few things to remember.
1. We've changed to a just-in-time model. Most goods are not inventoried beyond a couple turns. So when those sold out, you had no where to go. A 1" carbon steel valve used to be practically a happy meal toy for most valve orders. This summer, they hit 8-wk delivery times.
2. Companies desperate for supplies starting bidding against each other. I know of one supplier who was called by a customer and told, they were sending a fleet of semis to buy everything in their warehouse and they'd pay double whatever they sold it for but only if they could take everything.
3. Shipping has been massively fucked for months. It has started to get resolved. The demand at times was so high, it was too expensive to load empty shipping containers back onto the boat to head back to Asia. So they would just load what they could and sail back. Which is why you heard of a graveyard of empty shipping containers at the ports. (I'm guessing jim can elaborate on some of this as well)
4. There was also, at one point and maybe still ongoing, a worldwide shortage of shipping containers. What used to cost a couple grand to buy was now in the five-figure range. Helped solve #3. Also the Biden admin's fee for sitting containers helped a lot. Almost magic.
5. There wasn't enough labor or capacity to offload the boats. So you'd have full ships just sitting waiting to be offloaded.
6. Winter storm Uri apparently really fked up the petro and energy markets. We still hear CEOs and CFOs mention it at earnings calls. THere was also an assload of damage ($200B?)
7. Labor costs have risen, therefore the cost of goods sold has risen. So there are some increase in costs that probably aren't transitory.
8. And finally, you'll also find that margins for a lot of the public companies have widened over the last year. So, not just keeping up with the raw material and cost of labor.


Everything going from 0 to 100 in a relatively blink screwed everything up.
Then came Uri.
Then came the labor shortage.
Now corporations are fucking us and blaming it all inflation.
 
He was using his connections and contacts in the media to dig up dirt on the women who were accusing his brother of harassing them.

Good that they fired him. I really didn't think it would happen. How long before he takes a job at Fox?
 
rufus said:
He was using his connections and contacts in the media to dig up dirt on the women who were accusing his brother of harassing them.

Good that they fired him. I really didn't think it would happen. How long before he takes a job at Fox?
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Good Lord. I mean family is one thing but that's a giant POS move and how the hell did he think he'd get away with it in today's climate?
 
Crypto exchange BitMart was hacked for over $150 million. I was going to joke that it's only worth about $120 million after the dip this week, but it looks like it all happened yesterday.
 
We have cryptobros at my new firm (cryptobros in an Inc 1000 IT consulting shop? Never!). Fortunately they keep it to their private Slack channel.
 
dxmnkd316 said:
I despise crypto fans more than almost anything on this planet
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I am a crypto fan...but not like the psycho ones who think they are going to millionaires because they bought Monopoly money. I already made money so now it is just house money meant for gambling and fun. They think it is some type of holy quest...
 
dxmnkd316 said:
I don't think anyone really knows, but my guess is that this is temporary and caused by the re-opening of the economy and corporations padding margins.

[Snip]

Everything going from 0 to 100 in a relatively blink screwed everything up.
Then came Uri.
Then came the labor shortage.
Now corporations are fucking us and blaming it all inflation.
Click to expand...

Thank you. That was what I remembered hearing on CNBC and read through various sources and sort of confirms the thought train I had in my mind about the whole thing. It's just the GQP are weaponiizing the 0-to-100 movement as a bad thing. Got it.




The reason I had originally asked (not that y'all care) was CNBC was interviewing Congressman Tom Cotton, and all he was starting every talking point with was "You gotta remember we're at 6% inflation...."

Every time a GQP congressman talks during an interview CNBC I want to drive my truck into a light pole.
 
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