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Keyword: prices

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  • The Gas Inflation Crisis Is Far From Over – Where Will Prices Finally Stop?

    06/25/2022 2:08:18 PM PDT · by blam · 12 replies
    Zubu Brothers ^ | 6-25-2022 | Brandon Smith via
    After a single Federal Reserve rate hike of 75bps I am noticing a trend among mainstream economists whipping out their crystal balls and predicting an almost immediate reversion to deflationary conditions. In their view, a recession will “balance everything out.” For most of these people I would suggest that they keep their crystal balls in their pants; they have been consistently wrong and it’s time for them to shut up. If you were predicting that inflation would be “transitory” last year, then you have no right to act like you are an economist today. It’s going to take a lot...
  • Diesel Demand Set To Drop As Economies Enter Recession: Kemp

    06/25/2022 2:08:11 PM PDT · by blam · 10 replies
    Zubu Brothers ^ | 6-25-2022 | John Kemp, senior energy analyst
    U.S. diesel consumption is likely to decline by 200,000 to 600,000 barrels per day (5%-15%) over the next year as the economy slows in response to rising interest rates. The Federal Reserve is not deliberately trying to induce a recession to bring inflation under control, central bank chief Jerome Powell told legislators on Wednesday. But he said that was a possible and foreseeable outcome of rapid rate rises – an interesting application of the doctrine of double effect. The central bank hopes for soft landing but feels it must risk a hard one to reduce inflation running at the fastest...
  • Biden looks everywhere to lower gas prices — except boosting oil production

    06/22/2022 8:57:49 PM PDT · by george76 · 27 replies
    Fox News ^ | June 22, 2022 | Thomas Catenacci |
    Biden admin 'pursuing this green agenda at all costs ... Biden has .. yet to back boosting domestic oil production. ... In recent months, Biden has ordered three separate releases from the Strategic Petroleum Reserve and issued a waiver allowing the sale of gas with higher biofuel concentration . ... Biden administration has doubled down on its climate agenda, canceling multiple oil and gas lease sales, revoking the Keystone XL pipeline permit and begging Middle Eastern producers to boost output. ... "This is an election year gimmick," Daniel Turner .. It has nothing to do with the energy industry, it...
  • Visualizing The Three Different Types Of Inflation

    06/21/2022 4:04:16 AM PDT · by blam · 1 replies
    Zubu Brothers ^ | 6-21-2022
    Inflation is dominating the news as prices hit 40-year highs. While the price of everyday goods, including food and energy, is the most widely cited type of inflation, other forms exist across the broader economic system. In this Markets in a Minute from New York Life Investments, Visual Capitalist’s Dorothy Neufeld charts three types of inflation and the macroeconomic factors that influence each type. 1. Monetary InflationMonetary inflation occurs when the U.S. money supply increases over time. This represents both physical and digital money circulating in the economy including cash, checking accounts, and money market mutual funds. The U.S. central...
  • Why Food Inflation Is Only Getting Started

    06/19/2022 2:22:09 PM PDT · by blam · 17 replies
    Why Food Inflation Is Only Getting StartedTake a look at this: Chart of Food Production vs Food Prices The US has just experienced an 8.8% increase in food prices. The problem (and there are many, actually) is that this doesn’t take into account the spiraling costs farmers are now experiencing. It’s worth remembering that because farmers pay upfront and only recoup their expenses at the point of sale/harvest months later, all the opex they’ve experienced has a lag. This lag is dependent on produce but certainly, we’re looking at a tsunami of food inflation 12 to 18 months out. Then...
  • US Rent Costs Surge To Record Highs As Americans Expect Inflation To Get Worse

    06/18/2022 4:28:15 PM PDT · by blam · 40 replies
    Zubu Brothers ^ | 6-18-2022
    Median rents in the US crossed the $2000 mark this past month for the first time ever, while rental markets surged 15% – 20% in a single year depending on the region. This is yet another trend which supports the position that official CPI is inaccurate and overall inflation is actually much higher than the central bank and the Biden White House reports. The latest CPI print indicates an “official” inflation rate of 8.6%, while REAL inflation is closer to 17% according to pre-1990s calculations. The continued denial of real inflation rates is causing confusion among Americans who are facing...
  • Scholars Now Think '6.66' In Revelation Refers To Price Of Gas In The End Times

    06/18/2022 9:14:20 AM PDT · by Tolerance Sucks Rocks · 19 replies
    The Babylon Bee ^ | June 14, 2022 | The Babylon Bee
    GENEVA—This week, a panel of Bible scholars issued a joint statement clarifying that the Mark of the Beast is actually “$6.66”—the price of gas at the end of latter days. “Deeper study has revealed that we were misreading this passage—it’s not 666 or 616, it’s $6.66 for your basic Unleaded Petroleum Gasoline!” French Bible scholar Pierre LeGault spoke for the panel of academics that had gathered at Geneva to redress and correct the historic interpretation of the mysterious number in Revelation 13. “Numerology is tough and we’ll be the first to admit we botched this one—but we’re here to make...
  • Deflationary Tsunami On Deck: A “Tidal Wave” Of Discounts And Crashing Prices

    06/17/2022 2:52:20 PM PDT · by blam · 16 replies
    Zubu Brothers ^ | 6-17-2022
    Three weeks ago, we showed readers what happens when the infamous “Bullwhip effect” reversal takes place by presenting the unprecedented surge in the “Inventory to Sales” ratio for a broad range of US retailers covering the furniture, home furnishings and appliances, building materials and garden equipment, and a category known as “other general merchandise,” which includes Walmart and Target. Since then, this ratio has only gotten even more extended, and as shown below it is now at the highest level since the bursting of the dot com bubble! What does this mean for retailers and the price of goods? Three...
  • No, Inflation Is Not A Product Of Corporate Greed

    06/17/2022 8:48:44 AM PDT · by blam · 15 replies
    Zubu Brothers ^ | 6-17-2022 | Ranen Aschemann via The Mises Institute
    Seventeen months ago, as the keys to the oval office changed hands, for all of the political animus and theatrics, one thing seemed a given: the US economy would roar back to vitality in historic fashion, a point of optimism in a nation of discord and incertitude. Yet hope would give way to ambivalence, which, in turn, gave way to serious doubt. Today, a pathetic 23 percent of Americans feel economic conditions are even “somewhat good.” The primary reason for such abysmal economic sentiment? Inflation. As consumer prices have accelerated out of control over the past year, a new political...
  • German Official Warns Of Gas Shortages, Bankruptcies, Massive Price Hikes That Will Send “Shockwaves Throughout The Country”

    06/17/2022 5:18:39 AM PDT · by blam · 24 replies
    Zubu Brothers ^ | 6-17-2022 | John Cody of Remix News
    A gas shortage and high prices will send “shockwaves through the country,” leading to landlords cutting the heat for tenants and widespread company bankruptcies, warned Klaus Müller, the head of Germany’s Federal Network Agency, which is the regulatory office for electricity, gas, telecommunications, postal services, and railway markets. Müller paints a bleak picture about the crisis in an interview with German newspaper Rheinische Post, saying it will “send shockwaves throughout the country. Banks will ramp up their business with installment loans, and ailing companies will fall into insolvency.” Müller’s office, which is a federal agency within the Federal Ministry for...
  • “We’re Barely Making It”: Furious Farmer Goes Viral Explaining Why Food Prices “Are Going To Go Up”

    06/15/2022 7:20:50 PM PDT · by blam · 37 replies
    Zubu Brothers ^ | 6-15-2022
    Last week we noted how US farmer sentiment plummeted in May – as producers have become anxious about their farm’s financial health. According to the monthly survey by Purdue University/CME Group, The rapid rise in production costs and uncertainty regarding the direction of input prices have been important contributors to the drop in sentiment. About 44 percent of farmers, according to the monthly survey, cited input costs as their biggest concern for the coming year, according to the Epoch Times. In fact, 60% of farmers predict farm input prices to be at least 30% higher this year compared to 2021....
  • Truck drivers parking their rigs as gas prices continue to climb

    06/15/2022 1:19:44 AM PDT · by RomanSoldier19 · 62 replies ^ | June 8, 2022 | Melissa Correa
    Diesel prices are setting records, nationwide, as a gallon of the fuel now averages $5.72 as of Wednesday. Drivers fueling up at a truck stop in east Houston said the pain at the pump is crippling as rising prices force some to park their rigs. Houstonian Raymond Mayberry said he’s been a truck driver since 2003. He’s a self-employed trucker. Even with the help of fuel-saving apps and a rewards program at the truck stop, Mayberry said he’s counting “every penny” because the almost-daily rise in diesel price affects his bottom line. “It comes out of our profit. If you...
  • Wholesale inflation climbs 10.8% in May, hovering near 40-year high

    06/14/2022 7:56:32 AM PDT · by mykroar · 16 replies ^ | 6/14/2022 | Megan Henney
    Wholesale prices accelerated again in May as inflation tightened its stranglehold on the U.S. economy, adding to the financial pressure on millions of Americans.The Labor Department said Tuesday that its producer price index, which measures inflation at the wholesale level before it reaches consumers, climbed 10.8% in May from the previous year. On a monthly basis, prices grew by 0.8%. Although that was slightly lower than the 10.9% forecast from Refinitiv economists, the reading – near a record-high of 11.5% notched in March – suggests that inflationary pressures in the economy remain strong.Core inflation at the wholesale level, which excludes...
  • Peak Inflation Was A Fairytale Just Like Transitory Inflation

    06/14/2022 5:53:11 AM PDT · by blam · 14 replies
    Zubu Brothers ^ | 6-14-2022 | Michael Maharrey via
    Inflation wasn’t transitory. And inflation hasn’t peaked. It’s more like peak inflation was transitory.The May Consumer Price Index (CPI) came in higher than expected. The headline year-on-year price increase was 8.6%. The projection was for the CPI to hold steady at the same level as last month — 8.3%. Instead, we got the biggest jump in prices during this inflationary cycle and the highest CPI print since 1981. On a month-to-month basis, the CPI rose by 1%. This was above the 0.7% projection. Another spike in fuel and energy costs primarily drove the monthly increase. Energy costs rose 3.9% during...
  • BREAKING: U.S. annualized inflation just peaked 17 percent for the first time since WW2, the highest rate in 75 years.

    06/12/2022 4:13:04 AM PDT · by KeyLargo · 23 replies
    Flopping Aces ^ | June 10, 2022
    BREAKING: U.S. annualized inflation just peaked 17 percent for the first time since WW2, the highest rate in 75 years. The media are misreporting the real data, and I’ll explain why. Inflation is properly defined as an expansion of the money supply. However in the 20th century, the federal government began a series of steps to expand the money supply to facilitate more expansive federal spending (removing the gold standard, removing the gold peg, suppressing interest rates as “stimulus,” printing money directly into the Treasury, etc.). All of these are inflationary, and prices rose far more in the 20th century...
  • The Inflation Crisis Is Worse Than Admitted – Will Interest Rates Go To Record Highs?

    06/11/2022 4:00:14 PM PDT · by blam · 41 replies
    Zubu Brothers ^ | 6-11-2022
    Inflation is not a new problem in the US; there has been a steady expansion of price inflation and a devaluation of the dollar ever since the Federal Reserve was officially made operational in 1916. This inflation is easily observed by comparing the prices of commodities and necessities from a few decades ago to today. The median cost of a home in 1960 was around $11,900, which is the equivalent of $98,000 today. In the year 2000, the median home price rose to $170,000. Today, the average sale price for a home is over $400,000 dollars. Inflation apologists will argue...
  • Inflation Storm Devastates US Households As Fuel, Power, And Food “Become Unaffordable”

    06/09/2022 4:04:12 PM PDT · by blam · 45 replies
    Zubu Brothers ^ | 6-9-2022
    The latest inflation figures are due on Friday and will reveal if consumer prices are signaling a peak or will remain at four-decade highs that have financially devastated American households. For months, households have been battered by soaring fuel, grocery-store food, and power bill costs — all rising at double-digit annual rates for the first time since 1981, according to Bloomberg. Economists surveyed by Bloomberg forecast consumer prices in May will be around 8.2%, versus 8.3% in April, though some leading estimates suggest a move between 8.3% to 8.4%. The print isn’t expected to deviate too much from the 40-year...
  • GlobalPetrolPrices

    06/09/2022 3:08:12 PM PDT · by AZJeep · 1 replies
    Web ^ | June 6, 2022
    The link lists average prices in dollars for liter in Europe 1 Gallon = 3.785 liters Europe was hard hit by rising gasoline prices due to Russian boycott. Yet, the prices there are not really that much higher than Us Prices right now. Remember, European gas prices used to be at least double of the US.
  • Higher Gas Less Police Patrols

    06/08/2022 8:31:02 AM PDT · by Paul46360 · 10 replies
    Facebook Posting | 6-8-2022 | Me
    Isabella County (MICHIGAN) Sheriff’s Office is feeling the pain at the pump as well. We have exhausted what funds were budgeted for fuel with several months to go before the budget reset. I have instructed the deputies to attempt to manage whatever calls are acceptable over the phone. This would be non-in-progress calls, non-life-threatening calls, calls that do not require evidence collection or documentation. Deputies will continue to provide patrols to all areas of the county, they will respond to those calls that need to be managed in person. Any call that is in progress with active suspects will involve...
  • Billionaire oil refiner warns Biden to ‘open up the spigots’ or things 'will get worse'

    06/08/2022 6:54:34 AM PDT · by george76 · 64 replies
    FOX Business ^ | June 6, 2022 | Taylor Penley
    John Catsimatidis argued that crude oil prices would drop by half if Biden turned to North American oil vs Saudi Arabia... New York City billionaire and oil refiner John Catsimatidis said President Biden should "open up the spigots" as Americans feel the wrath of soaring costs at the pump and in the food store. Reacting to the national average price of a gallon of gas reaching a new all-time high of $4.86, Catsimatidis told FOX Business' Dagen McDowell that "it will get worse" and lamented that neither the exacerbation nor an economic recession has to happen, but leaders refuse to...