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MN

US Inflation was 8. something% and UK was 9% in the last quarter, mostly driven by fuel costs.

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 Manchild 1984 wrote:
If you expect Inflation, think about getting a loan and put it into stocks.

Not financial advise. lol?


I really hope nobody followed this advice. You would be down about 30% today


Automatically Appended Next Post:
 NinthMusketeer wrote:
Hope it's more than a few feet above sea level...


My lot is at about 16'. We had a 20' storm surge during Irma and it flooded my street and the end of my driveway but still never came near the house. I've been listening to horror stories about how Miami will be underwater soon since the 1990s. I think it will be another 100 years before it becomes a serious issue and even then we can just build higher seawalls and do more dredging along the coast.

This message was edited 2 times. Last update was at 2022/05/18 18:05:57


 
   
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Automatically Appended Next Post:
 NinthMusketeer wrote:
Hope it's more than a few feet above sea level...


My lot is at about 16'. We had a 20' storm surge during Irma and it flooded my street and the end of my driveway but still never came near the house. I've been listening to horror stories about how Miami will be underwater soon since the 1990s. I think it will be another 100 years before it becomes a serious issue and even then we can just build higher seawalls and do more dredging along the coast.


We got 27" of rain from Hurricane Matthew and back in 2008 we had 33" from that tropical storm that made land fall 3 times in Florida when it made a Z across the state. It stopped and changed directions just north of us and rained hard for 3 days straight. It only gets bad in my area when they close the locks. With the tropical storm, the locks opened the next day and we were dry. With Matthew, the county didn't open them and we had standing water until it prevented people from getting to attend a launch. The county opened the locks and we were dry within 2 days.


Automatically Appended Next Post:
 Easy E wrote:
US Inflation was 8. something% and UK was 9% in the last quarter, mostly driven by fuel costs.


It's expected to continue to grow too! Combine that with unreported COVID numbers because you can test at home and not report them to anyone and we are still seeing COVID rated increase to levels as high as the peak pandemic. Makes you wonder if we should just shut everything down again or if we can afford to take drastic action like that again!

This message was edited 1 time. Last update was at 2022/05/21 02:00:04


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The Great State of New Jersey

 Ensis Ferrae wrote:
I just went and purchased a new car because of the lunatic fuel prices around me.

For the past week+ they have been jumping 15-30 cents per gallon, each day. Was out this morning and saw some gas stations already at 5.50 per gallon.

Now, I know/realize that the europeans on this forum who pay by liter are already used to 6+ bucks per gallon (when you convert it over to freedom units), but I'd bet that y'all are also feeling the squeeze on your end, and perhaps even worse given the historical "normal" place yall get your crude from.


Wow, we're still under $5/gal here but its creeping up at a steady pace (not 15-30 cents mind you, more like 2-3 cents/day). But yeah, inflation is starting to really hit home in NJ too, we were relatively insulated from it early on because of the general economic strength of the state for the last couple years coupled with already sky-high cost of living that was pricing in a lot of buffer and margin over other regions of the country, but I've noticed the price for some things skyrocket over the past month or so. A plate of chicken parm and a dr. pepper from the on-site cafeteria at my job this week was going for $13. When I started with the company 7 years ago it was about $5 and change. Even before COVID it was going for $6 and change. Restaurant prices all seem to have crept up 20-40%, supermarket prices on some things seem to be up 50%, etc.

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Part of the restaurant thing may be staff commanding higher wages post Covid?

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 Mad Doc Grotsnik wrote:
Part of the restaurant thing may be staff commanding higher wages post Covid?


Working restaurants and being responsible for hiring, it’s not the wages increasing costs.
It’s the cost of growing things, their transport, and the cost of food in general.

What most people don’t realize about the restaurant industry, is that they don’t get a massive discount on the food they buy and use. They pay approximately the same price as most regular folks pay in the grocery store.
Often times, it’s more than likely that anyone can get food cheaper at a discount grocery retailer than restaurants do, even when they buy quantity.
For instance, it’s cheaper for me to buy certain items at Costco than my suppliers, even though the inconvenience of sending someone to go and shop is more hassle. This is what we’re having to do to prevent prices from bankrupting our customers.

Couple this with the skyrocketing price of gas, and that’s why restaurants are raising prices.
Make sure employees have benefits, treat them well, and make sure they feel valued is really all that’s required. A crazy high wage won’t make a difference if your boss is a tyrant and/or and asshat.

It’s all from skyrocketing transportation and food costs.
Over the past six months every single supplier I use has increased their costs to me by at least 15%, which translates into an almost 45% increase in the price when a customer buys something.
My sausages were sold for $5.50 each in January and I’ve had to raise them to $7.50 to even make the same margin as January. It absolutely has nothing to do with wages.

This message was edited 4 times. Last update was at 2022/05/22 17:32:00


 
   
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Ways that all government can decrease inflation.

Reduce unduly onerous regulation. Less regulation = less money and time complying for business.

Stop printing excess money and start to redraw the extra printed money released in the last 2 years. Reducing supply means the value goes up.

This is a start that will at the minimum slow inflatory growth down, but will be more effective where there is a large government influence in any country's economy.


They will have little effect on: Demand as we come out of covid, have proven next to useless in solving supply chain issues, essentially causing most of them with lockdowns, and finally wage growth as the economy winds up (at least in a free market)

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The vast majority of regulations are there for a damn good reason, mainly to stop people getting hurt or the environment getting screwed over.

Any money you “save” by removing regulations becomes a hidden cost somewhere else; lost productivity from people being off work sick or injured, polluted land, etc.

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 Jadenim wrote:
The vast majority of regulations are there for a damn good reason, mainly to stop people getting hurt or the environment getting screwed over.

Any money you “save” by removing regulations becomes a hidden cost somewhere else; lost productivity from people being off work sick or injured, polluted land, etc.



Exactly. . . and, couple this with some of the numerous studies I was exposed to/read during my grad school time, businesses who make "surpassing" regulatory requirements a foundational aspect of their business report better metrics across the board (better profits, more income, more content employees, customer satisfaction, etc).

On top of that, some of those same articles discussed in my coursework, we pointed out how businesses who focus on meeting/exceeding standards set by regulations tend to perform better year on year from their direct competitors who spend time/money/effort on repealing regulations.
   
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To make things worse, Victrix has announced a 10% increase in prices starting June 1st!

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Gotta figure; the default is no regulation on a thing, it's only added after something happens to show it's needed. Behind every regulation there is a story about how some pricks ruined it for all of us. One might note that doesn't have much to do with active inflation. 'Addressing regulation' just isn't anything resembling a solution for inflation, it would at the least need to be focused on specific regulatory laws that are relevant to the matter.


Automatically Appended Next Post:
 Mad Doc Grotsnik wrote:
Part of the restaurant thing may be staff commanding higher wages post Covid?
Consider though; only a fraction of a restaurant's expenses are going to be wages and only a fraction of wages will be the lower-end workers who have been demanding higher pay of late. And even then the % increase in price (to my knowledge) outstrips the % increase in wages, so it is impossible on multiple levels for that to be anything more than a contributing factor.

This message was edited 1 time. Last update was at 2022/05/24 01:07:13


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 Jadenim wrote:
The vast majority of regulations are there for a damn good reason, mainly to stop people getting hurt or the environment getting screwed over.

Any money you “save” by removing regulations becomes a hidden cost somewhere else; lost productivity from people being off work sick or injured, polluted land, etc.



Not I sated 'onerous' regulation.
Some regulation is essential but overregulation where only large companies can afford to comply strangles local/small competition.

For example baby formula was not able to be purchased by US cosumers or stores from Europe as it did not have FDA approval despite having a higher basic standard on nutrition. Therefore the big 4 producers face no competition and there is no flexibility in the market when supply chain issues arise.
Then when a shortage suddenly the US government is able to fly in plane loads from Canada and Europe, flouting their own regulations.


Where have prices skyrocketed - health, flights, gas/power. All of which are massively regulated.

Why have my 2 minute noodles not shot up in price? Because there is some but not a lot of regulation related to it.

This message was edited 1 time. Last update was at 2022/05/24 01:17:00


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That is certainly an interpretation of events.

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Maybe you should have put some regulations in place that would prevent supply of such a critical product being at the mercy of the whimsy of a handful of monopolists.

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The Great State of New Jersey

 Waaagh_Gonads wrote:
 Jadenim wrote:
The vast majority of regulations are there for a damn good reason, mainly to stop people getting hurt or the environment getting screwed over.

Any money you “save” by removing regulations becomes a hidden cost somewhere else; lost productivity from people being off work sick or injured, polluted land, etc.



Not I sated 'onerous' regulation.
Some regulation is essential but overregulation where only large companies can afford to comply strangles local/small competition.

For example baby formula was not able to be purchased by US cosumers or stores from Europe as it did not have FDA approval despite having a higher basic standard on nutrition. Therefore the big 4 producers face no competition and there is no flexibility in the market when supply chain issues arise.
Then when a shortage suddenly the US government is able to fly in plane loads from Canada and Europe, flouting their own regulations.


Where have prices skyrocketed - health, flights, gas/power. All of which are massively regulated.

Why have my 2 minute noodles not shot up in price? Because there is some but not a lot of regulation related to it.


You are way off base on the problems with the US baby formula shortage. The long and the short of it is that baby formula in the US is heavily subsidized by state and federal contracts as part of well-intentioned (but perhaps misguided in their application/execution) social safety benefits. Each state issues a contract to one baby formula producer (following a competitive bidding process to identify the lowest cost option to the state) to be the "official" formula that individuals receiving government benefits in the state may purchase and utilize, etc. Supermarkets and grocers, etc. selling baby formula products are then required to stock the contracted formula brand on their shelves in order for benefit recipients to purchase the items locally, but in truth due to a number of factors the contracted brand in any given state tends to dominate market share and sales within the state regardless of this policy (the brand in question often puts an emphasis on marketing within said state, most of the contracts are long term and rarely end up moving to a competitor brand when they come up for bid again which creates a lot of long-term brand loyalty, especially when coupled with how widespread the public benefit is and how many parents out there end up using that brand as a result), which results in markets allocating most of their shelf space to the contracted brand and little (if any) shelf space to competitors, which kind of creates a feedback loop that makes the contracted brand the end-all-be-all within the states borders and crowds out competition. There are basically 4 companies which have split the formula contracts across all 50 states, one of those companies has about 2/3rds of the contracts alone, with the remaining 1/3rd being split amongst the other 3. There are a handful of smaller local companies that have no formula contracts and basically no relevant sales because they struggle to get shelf-space in markets, etc. Because capitalism, formula production for all 4 of these companies is concentrated and centralized into just a handful of factories in order to leverage economies of scale, meaning that if one of them ends up being contaminated (as was the case), you shut down a pretty significant share of the national production capacity of formula.

You could eliminate every regulation on the baby formula industry and it wouldn't change a thing so long as the welfare benefit structure doesn't change, even with the freedom to import European/foreign formula brands, it won't change much because at a state level consumers are largely married to one of the big 4 domestic brands and existing social welfare and safety net policies make that unlikely to change on its own. What can you do to fix it? It may seem counterintuitive, but, more regulation. Regulate the shelf space allocation of the contracted formula brand in any given market to no more than x% of the total allocated to baby formula, ensuring that competitor brands have a presence on the store shelves and consumers have an actual choice between competitors in spite of the advantages that one product receives in each state via the subsidy contracts. Regulate the manufacturing/production process indirectly so that the big 4 have to spread their production capacity across more facilities to build-in redundancy and ensure that if one factory goes down you're not shutting off 20-30% of domestic production capacity - this might bring a slightly higher cost to consumers as the big 4 will no longer be able to leverage economy of scale so effectively, but thats a tradeoff that needs to occur in order for production to remain robust and resilient. etc.

Note also that the shortage is not really an inflationary issue. The price of formula has skyrocketed due to the current constraints on supply vs what is basically inelastic demand (formula is more or less a life necessity and consumers will pay any price they can for the product, which has driven up the price as a result of the supply/demand process), but once production at the contaminated facilities is brought back online it will level back down to where it was. Importing european product is less about combating inflation and more about ensuring supply availability to those who need it.

This message was edited 1 time. Last update was at 2022/05/24 12:12:09


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 lord_blackfang wrote:
Maybe you should have put some regulations in place that would prevent supply of such a critical product being at the mercy of the whimsy of a handful of monopolists.

That's kind of a logical paradox though isn't it, since it's the regulation in the first place that creates this particular problem (and not as an unwanted side-effect, but as a specifically planned result), adding another regulation to countermand the previous regulation seems a bit farcical imo.
   
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JWBS wrote:
 lord_blackfang wrote:
Maybe you should have put some regulations in place that would prevent supply of such a critical product being at the mercy of the whimsy of a handful of monopolists.

That's kind of a logical paradox though isn't it, since it's the regulation in the first place that creates this particular problem (and not as an unwanted side-effect, but as a specifically planned result), adding another regulation to countermand the previous regulation seems a bit farcical imo.


Well, except for the fact that the US has not had significant anti-monopoly policies since..... before most of us here were born; and I am old!

I am glad I managed to get back into this thread before it gets locked and purged.

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JWBS wrote:
 lord_blackfang wrote:
Maybe you should have put some regulations in place that would prevent supply of such a critical product being at the mercy of the whimsy of a handful of monopolists.

That's kind of a logical paradox though isn't it, since it's the regulation in the first place that creates this particular problem (and not as an unwanted side-effect, but as a specifically planned result), adding another regulation to countermand the previous regulation seems a bit farcical imo.


I'm absolutely amazed that you managed to spin food safety regulations as being the problem here.

Let's just do way with those and let the free market decide what the appropriate ratio of price vs toxic waste in baby food is.

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JWBS wrote:
 lord_blackfang wrote:
Maybe you should have put some regulations in place that would prevent supply of such a critical product being at the mercy of the whimsy of a handful of monopolists.

That's kind of a logical paradox though isn't it, since it's the regulation in the first place that creates this particular problem (and not as an unwanted side-effect, but as a specifically planned result), adding another regulation to countermand the previous regulation seems a bit farcical imo.
The joke is that there isn't regulation in the first place, and it didn't cause the problem.

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chaos0xomega wrote:
Spoiler:
 Waaagh_Gonads wrote:
 Jadenim wrote:
The vast majority of regulations are there for a damn good reason, mainly to stop people getting hurt or the environment getting screwed over.

Any money you “save” by removing regulations becomes a hidden cost somewhere else; lost productivity from people being off work sick or injured, polluted land, etc.



Not I sated 'onerous' regulation.
Some regulation is essential but overregulation where only large companies can afford to comply strangles local/small competition.

For example baby formula was not able to be purchased by US cosumers or stores from Europe as it did not have FDA approval despite having a higher basic standard on nutrition. Therefore the big 4 producers face no competition and there is no flexibility in the market when supply chain issues arise.
Then when a shortage suddenly the US government is able to fly in plane loads from Canada and Europe, flouting their own regulations.


Where have prices skyrocketed - health, flights, gas/power. All of which are massively regulated.

Why have my 2 minute noodles not shot up in price? Because there is some but not a lot of regulation related to it.


You are way off base on the problems with the US baby formula shortage. The long and the short of it is that baby formula in the US is heavily subsidized by state and federal contracts as part of well-intentioned (but perhaps misguided in their application/execution) social safety benefits. Each state issues a contract to one baby formula producer (following a competitive bidding process to identify the lowest cost option to the state) to be the "official" formula that individuals receiving government benefits in the state may purchase and utilize, etc. Supermarkets and grocers, etc. selling baby formula products are then required to stock the contracted formula brand on their shelves in order for benefit recipients to purchase the items locally, but in truth due to a number of factors the contracted brand in any given state tends to dominate market share and sales within the state regardless of this policy (the brand in question often puts an emphasis on marketing within said state, most of the contracts are long term and rarely end up moving to a competitor brand when they come up for bid again which creates a lot of long-term brand loyalty, especially when coupled with how widespread the public benefit is and how many parents out there end up using that brand as a result), which results in markets allocating most of their shelf space to the contracted brand and little (if any) shelf space to competitors, which kind of creates a feedback loop that makes the contracted brand the end-all-be-all within the states borders and crowds out competition. There are basically 4 companies which have split the formula contracts across all 50 states, one of those companies has about 2/3rds of the contracts alone, with the remaining 1/3rd being split amongst the other 3. There are a handful of smaller local companies that have no formula contracts and basically no relevant sales because they struggle to get shelf-space in markets, etc. Because capitalism, formula production for all 4 of these companies is concentrated and centralized into just a handful of factories in order to leverage economies of scale, meaning that if one of them ends up being contaminated (as was the case), you shut down a pretty significant share of the national production capacity of formula.

You could eliminate every regulation on the baby formula industry and it wouldn't change a thing so long as the welfare benefit structure doesn't change, even with the freedom to import European/foreign formula brands, it won't change much because at a state level consumers are largely married to one of the big 4 domestic brands and existing social welfare and safety net policies make that unlikely to change on its own. What can you do to fix it? It may seem counterintuitive, but, more regulation. Regulate the shelf space allocation of the contracted formula brand in any given market to no more than x% of the total allocated to baby formula, ensuring that competitor brands have a presence on the store shelves and consumers have an actual choice between competitors in spite of the advantages that one product receives in each state via the subsidy contracts. Regulate the manufacturing/production process indirectly so that the big 4 have to spread their production capacity across more facilities to build-in redundancy and ensure that if one factory goes down you're not shutting off 20-30% of domestic production capacity - this might bring a slightly higher cost to consumers as the big 4 will no longer be able to leverage economy of scale so effectively, but thats a tradeoff that needs to occur in order for production to remain robust and resilient. etc.

Note also that the shortage is not really an inflationary issue. The price of formula has skyrocketed due to the current constraints on supply vs what is basically inelastic demand (formula is more or less a life necessity and consumers will pay any price they can for the product, which has driven up the price as a result of the supply/demand process), but once production at the contaminated facilities is brought back online it will level back down to where it was. Importing european product is less about combating inflation and more about ensuring supply availability to those who need it.
Ya know, Dakka OT is certainly not where I would look to find interesting and educational content, but props to you for delivering it.

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Mexico

Kinda hard to fix inflation when one the major reasons is a foreign head of state went crazy and started a war.

   
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 Tyran wrote:
Kinda hard to fix inflation when one the major reasons is a foreign head of state went crazy and started a war.


Bro this thread on rampant inflation was started 2.5 months before the war but don't let that stop you from doing a brainwashed rUSsiA bAd

This message was edited 1 time. Last update was at 2022/05/24 17:39:46


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Are you implying that the war isn’t having a major impact on global inflation?

Please excuse any spelling errors. I use a tablet frequently and software keyboards are a pain!

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 Flinty wrote:
Are you implying that the war isn’t having a major impact on global inflation?


Are you implying the war caused inflation months before it began?

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No, but we aren’t talking about inflation or 2.5 months ago. We are talking about inflation now, which is an extremely complicated balance of all kinds of things, but to paraphrase Tyran, it’s not made any easier when a nutter incompetently invades their neighbour on the flimsiest of pretexts and knackers international trade.

Please excuse any spelling errors. I use a tablet frequently and software keyboards are a pain!

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 Flinty wrote:
No, but we aren’t talking about inflation or 2.5 months ago. We are talking about inflation now, which is an extremely complicated balance of all kinds of things, but to paraphrase Tyran, it’s not made any easier when a nutter incompetently invades their neighbour on the flimsiest of pretexts and knackers international trade.


Yes yes all those massive trade routes passing through Eastern Europe for no reason.


Orrrr the cause could still be the same as it was before the war, then two thirds of this thread happened. Corporate gree-I MEAN COVID

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I’m sure corporate greed also plays a large part of it, but not to the point that entirely eclipses the impact of the war. Also I think the gas and oil pipelines from Russia to Europe so count as major trade routes through Eastern Europe in their own right. The secondary effects on the global food supply due to Ukraine being unable to contribute due to war damage and blockade also represents a major Eastern European trade route.

Please excuse any spelling errors. I use a tablet frequently and software keyboards are a pain!

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 lord_blackfang wrote:
Maybe you should have put some regulations in place that would prevent supply of such a critical product being at the mercy of the whimsy of a handful of monopolists.


Regulations are what creates that monopoly, which is the entire point of the guy you're addressing...


Automatically Appended Next Post:
 Tyran wrote:
Kinda hard to fix inflation when one the major reasons is a foreign head of state went crazy and started a war.



It's cute that you believe that's what caused inflation. Printing 80% of the money in existence over the last year and handing it out like condoms at a rave is what caused inflation. Russia invading Ukraine did not cause the price of cotton and lumber to double and we were already seeing some of the highest inflation numbers in the last 40 years before the whole Russia/Ukraine thing kicked off. You're eating up propaganda designed to shift blame away from the fed where it belongs and onto those evil Russians. Our government and media will blame anyone and anything else other than our awful fiat system and their endless money printing for inflation. I guess you also believe all the 30 year olds having heart attacks and collapsing right now are due to global warming...

This message was edited 3 times. Last update was at 2022/05/24 18:18:42


 
   
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Toofast wrote:
30 year olds having heart attacks and collapsing right now


Wait what what is this?

This message was edited 1 time. Last update was at 2022/05/24 18:21:39


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 Flinty wrote:
I’m sure corporate greed also plays a large part of it, but not to the point that entirely eclipses the impact of the war. Also I think the gas and oil pipelines from Russia to Europe so count as major trade routes through Eastern Europe in their own right. The secondary effects on the global food supply due to Ukraine being unable to contribute due to war damage and blockade also represents a major Eastern European trade route.


There is also the impact on fertilizers, as Russia was the source of a lot of the chemicals used for them.

Like sure the war isn't the root cause of all inflation. We still have Covid and general government incompetence. But Eastern Europe is a major trade route.
   
 
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