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A Shocked Warren Buffett Sees ‘Significant’ Inflation: ‘The Costs Are Up, Up, Up. We’re Seeing Substantial Inflation’
TG ^ | 5/2/2021 | Evan

Posted on 05/02/2021 4:33:39 PM PDT by wrrock

Speaking to Berkshire’s millions of shareholders on Saturday, Buffett warned the company was being hit by inflationary pressures:

“We’re seeing very substantial inflation – it’s very interesting. I mean, we’re raising prices. People are raising prices to us. And it’s being accepted.”

“The costs are just up, up, up. Steel costs, you know, just every day, they’re going up.”

“And it just won’t stop! People have money in their pocket, and they pay the higher prices… There’s more inflation going on that people would have anticipated six months ago or thereabouts.”

-VIDEO

(Excerpt) Read more at toptradeguru.com ...


TOPICS: Business/Economy
KEYWORDS: berkshirehathaway; buffett; economy; inflation; lumber; sharholdersmeeting; shrinkflation; stagflation; steel
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To: wrrock
futures commodities
Most everything is up
https://finviz.com/futures.ashx
21 posted on 05/02/2021 5:30:24 PM PDT by Steve Van Doorn (*in my best Eric Cartman voice* 'I love you, guys')
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To: wrrock

How was it determined that Buffett was ‘shocked’? He didn’t say he was shocked. Buffett has been around the block a few times; I don’t think he’s surprised by inflation.


22 posted on 05/02/2021 5:32:19 PM PDT by Spirit of Liberty (Idiots are of two kinds: those who try to be smart and those who think they are smart.)
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To: wrrock
Due to higher prices, we've reduced our spending significantly.☺

I like it this way!

23 posted on 05/02/2021 5:33:36 PM PDT by dragnet2 (Diversion and evasion are tools of deceit)
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To: wrrock

Can he really be that stupid? The Democrats printing trillions of dollars, and no inflation? Energy independence smothered and no prices rising? Idiot.


24 posted on 05/02/2021 5:48:35 PM PDT by Old_Grouch
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To: Old_Grouch

Yeah really no kidding! Price of energy filters into just about every item manufactured and in food production.


25 posted on 05/02/2021 5:57:35 PM PDT by entropy12
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To: wrrock

The oracle of Omahaha. I’ll have another, Jimmy...

https://www.youtube.com/watch?v=ue2-ZVxpVjc


26 posted on 05/02/2021 6:07:04 PM PDT by PGalt (past peak civilization?)
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To: wrrock

Inflation? No biggie. HUGE pay hikes coming for everybody real soon now to compensate for higher prices (just kidding). Nothing like getting to live through another good Wage/Price spiral to the stratosphere.

I chose the wrong time to retire. Things were nice and stable for a long time, but now so many of us are going to get wiped out.

We’ve been taking more risk than I really like — still about 55% in equities, but we have two properties which provide a good hedge against inflation. One property is in California and is protected from property tax hikes because of Prop 13 (as long as the Dems don’t kill that which is a real possibility). The other property in Idaho is subject to annual property re-assessment and I just heard our county assessment is up 47% in 2021! Idaho property values are soaring as people flee liberal shit-hole states and cities and that is going to really hurt so many home owners.


27 posted on 05/02/2021 6:10:39 PM PDT by ProtectOurFreedom (“If we were in a real pandemic, there’d be no need to declare it.”)
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To: E. Pluribus Unum

What comes, next? 😱

A summary will do 😬


28 posted on 05/02/2021 6:11:46 PM PDT by Jane Long (America, Bless God....blessed be the Nation 🙏🏻🇺🇸)
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To: wrrock

Well, Warren these are the people you wanted in the White House and in control of Congress. It isn’t like they didn’t tell you what they wanted to do. But, isn’t wrecking the American economy, throwing people out of work and hitting Berkshire’s profits a small price to pay not to have Trump in the White House? I mean, you get to look at Joe’s mask and not Orange Man’s hair. Worth it, right?


29 posted on 05/02/2021 6:19:36 PM PDT by colorado tanker
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To: wrrock

No shit Sherlock! I’m sure that you are clutching pearls after Pedo Joe shut down the Keystone Pipeline for you as your railroad continues to profit.


30 posted on 05/02/2021 6:23:55 PM PDT by wjcsux (RIP Rush Limbaugh 12 Jan 1951- 17 Feb 2021. We really miss you. 😢)
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To: wrrock

Warren, you just REALIZED that now? I’m buying WHEELBARROWS since I think we will need them to carry cash in when we buy a loaf of bread...


31 posted on 05/02/2021 6:33:04 PM PDT by Deplorable American1776 (Rest In PEACE, Rush H. Limbaugh III. You are missed already...)
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To: entropy12

And Buffet is largely responsible for the cost of energy, since I’m sure he pulled strings to shut the pipeline down to keep the oil on his trains.

And now the Canadians just want to ship their oil straight to China since it cannot be piped through the US.


32 posted on 05/02/2021 6:33:44 PM PDT by angry elephant (Been with Trump since huge 2016 Washington state rally in May.)
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To: Jane Long
***What comes, next? A summary will do***

Think commodities... oil, agriculture, metals (precious and otherwise), coal, natural gas...

Next think of the things that derive from commodities: fuel, transportation, energy, plastics, food, clothing, copper wire, cookware, electricity...

Use your own imagination to expand the lists above.

33 posted on 05/02/2021 8:05:40 PM PDT by Bob Ireland (The Democrap Party is the enemy of freedom.They use all the seductions and deceits of the Bolshevics)
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To: A Navy Vet
***This little nobody can see it coming with currency presses working overtime for Biteme’s insane economic policies***

:^) Usually... except this time currency won't have to be printed, it is digitalized - direct deposit, cash cards, check deposits, etc. Just take the mark of the beast and uncle antichrist will take care of everything so that you can buy or sell with a magnetic stripe and a skin scan.

34 posted on 05/02/2021 8:17:50 PM PDT by Bob Ireland (The Democrap Party is the enemy of freedom.They use all the seductions and deceits of the Bolshevics)
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To: Bob Ireland

Thanks :-)

Your “commodities” definition reminds me of the scene in Trading Places, where the old geezers are teaching Eddie Murphy the business :-)


35 posted on 05/02/2021 8:43:34 PM PDT by Jane Long (America, Bless God....blessed be the Nation 🙏🏻🇺🇸)
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To: angry elephant

Yep. Who didn’t see that coming?

Trump did!


36 posted on 05/02/2021 8:44:25 PM PDT by Jane Long (America, Bless God....blessed be the Nation 🙏🏻🇺🇸)
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To: wrrock

Tractor low profile seat suspension; $130 not three weeks ago, $169 now. A 30% increase. I won’t buy. Price gouging by any other name.

I hope the holders of this inflated inventory choke on it.

I also hope the fools who have bid up the price of housing have to live in it for a very very long time to break even or take a bath to sell it.

We are seeing good sense lost right now. People have too much time on their hands and too much free money in their pockets.


37 posted on 05/02/2021 9:28:57 PM PDT by Sequoyah101 (Politicians are only marginally good at one thing, being politicians. Otherwise they are fools.)
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To: A Navy Vet

The feral employees are loafing from home and have NEVER missed a paycheck. Much the same for state employees. Many wage earners are getting more and more benefits from unemployment than working.

This economy is broken all to heck and gone.

When is the last time you ever saw a restaurant that had a lunch crowd all afternoon followed by dinner? People have time on their hands and money in their pockets.


38 posted on 05/02/2021 9:31:58 PM PDT by Sequoyah101 (Politicians are only marginally good at one thing, being politicians. Otherwise they are fools.)
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To: wrrock

They claim food prices are only up by 10% but it seems more like 50% from what I can see.


39 posted on 05/02/2021 9:53:58 PM PDT by Alcibiades (I'm not tired of winning. More MAGA. More Mooch. More 5D chess. More covfefe)
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To: wrrock

Buffet and his band of Billionaires brought it back to America.
The last time it was tried was under Carter and 18% mortgage rates.


40 posted on 05/02/2021 9:58:23 PM PDT by Zathras
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