It is not just me then.
I’ve noticed the increase in prices and it is not just gasoline. I spent over $20 at McDonald’s on the road at just one stop last week on two combos and a Happy Meal for my son.
“Warren Buffett is seeing inflation among Berkshire Hathaway’s collection of businesses as the economic recovery from the Covid pandemic kicks into high gear.
“We are seeing very substantial inflation,” the Berkshire chairman and CEO said at the conglomerate’s annual shareholder meeting Saturday. “It’s very interesting. We are raising prices. People are raising prices to us and it’s being accepted.”
“We’ve got nine homebuilders in addition to our manufacture housing and operation, which is the largest in the country. So we really do a lot of housing. The costs are just up, up, up. Steel costs, you know, just every day they’re going up,” the legendary investor added. …”
“Markets have been obsessed — and sometimes roiled — for months over whether higher inflation is coming. The latest batch of quarterly reports suggests it’s already here and helping corporate America.
Faced with rising prices for everything from lumber to oil to labor and computer chips, chief executive officers have cut costs and boosted prices for their products. The strategy appears to be working, with first-quarter income from S&P 500 companies jumping five times as fast as sales, data compiled by Bloomberg Intelligence show. …”
“Richmond Federal Reserve President Thomas Barkin told CNBC on Monday that he sees inflation pressures building this year that he expects to subside in 2022.
“I think we will see price pressure this year. You’ve got a very strong demand situation, and you’ve got constraints in supply,” the central bank official said during a “Closing Bell” interview. “When those things happen, you’re definitely going to see price pressure.”
However, Barkin added that he expects those pressures to subside as economic dynamics change through the year and the economy returns to a more normal state. …”
“Shortages and soaring prices forced American producers to scale back production in April despite a high level of demand. As a result, inflation has rebounded from near zero last year to a more than 2% yearly pace as of April. …”
To be crystal clear, I have no problem with stimulus checks which were a small portion of the CARES Act and the American Rescue Plan, but I am concerned that the Fed is just printing all of this money.
We’re talking about trillions of dollars that has already been spent in the span of a year and that doesn’t even include Joe Biden’s American Jobs Plan or the American Families Plan which is projected to cost something like $4 trillion more. I’ve repeatedly pointed out that there doesn’t appear to be the same appetite among the Democrats for actually taxing their wealthy constituents and corporations as their readiness to spend. The media demonized the still born “America First Caucus” while totally ignoring the rise of the SALT Caucus and its insane demands to cut taxes on millionaires.
Gasoline is still about $2.67/gallon in my neighborhood but is well over $3.00/gallon in California. In the past oil prices have led the way higher but they were always higher in California because of pollution laws and taxes. Once oil vaults higher inflation will take off worse than in the late 1970’s. This will crush dementia Joe and Pres. Kuntmala Harris’s administration.
I think we’re going to see something other than oil, more financial in nature, derivtives
When the govt is spending trillions, someone has to pick up the tab and that is the consumer.
Well Duh !
A sheet of OSB that use to cost 3.50 is now 70.00, that’s only 2000%.
All The media reports the zog cpi at 1.7% in 2020, when in reality, it was 10%.
Cheating all the people on SS, railroad pensions, gov retirees and all taxpayers ( by not adjusting the tax tables for REAL inflation). The media spews the zog lies , without the slightest investigation.
They can say “1.7% inflation” with a straight face, just amazing.
ZOG and their state media haven’t told us the real numbers on inflation or unemployment for decades. Many people probably realize that, but play along out of fear of what would happen to the economy if they didn’t pretend to believe the lies.
The awful reality, these are the good times, the really heavy consequences won’t hit for 2 or 3 years.
I heard a good term, “shrinkflation”. Which means the contents are cut rather than the price increased. All the big box retailers are doing it.
If you can fix the election you will never have to worry about relinquishing power.
The inflation is due to shortages and supply chain disruptions from Covid-19, not money printing. It’s the uber-rich that pay for this conservative/libertarian propaganda that deficit spending causes inflation so ideas like Huey Long’s “Share the Wealth” proposal will never be implemented. Money printing can actually cure high inflation if the money is used to purchase from abroad the products that are in short supply. The monetarily sovereign federal government does not even need taxes like the non-monetarily sovereign state governments do. The federal government can issue as much of its own currency as it wants just by changing an entry on a computer. In fact, federal taxes are essentially destroyed upon receipt. The U.S. government can never become insolvent.
1.) Zimbabwe hyperinflation – caused by food shortage when white farms were seized.
2.) Venezuelan hyperinflation – caused by food and oil shortages.
3.) Weimar hyperinflation – caused by shortages of hard currency (gold or foreign) required as reparations after WW1 which would have otherwise gone to the procurement of food imports.
4.) American inflation in the 70s – caused by oil shortages.