US Goods Inflation

[Cyberfx1024 7,980]

So what I am seeing anecdotally on the ground is starting to set off some alarm bells for me tbh with you. Also what I am seeing across the board is that people are complaining about price increases for products to manufacture goods, gas prices, and you are starting to see shortages for machined products as well. I haven't even gotten into the labor shortage going on right now. 

So my question to everyone is if you are starting to see the same things as well, and is it starting to set off any alarm bells for you? 

Edited May 3, 2021 by Cyberfx1024

[TBoneTX 45,265]

Everything centers around energy prices.  The people pulling Biden's strings intend to hose these.  I anticipate broad inflation and shortages.

[Steeleballz 7,550]

18 hours ago, Cyberfx1024 said:

So what I am seeing anecdotally on the ground is starting to set off some alarm bells for me tbh with you. Also what I am seeing across the board is that people are complaining about price increases for products to manufacture goods, gas prices, and you are starting to see shortages for machined products as well. I haven't even gotten into the labor shortage going on right now. 

So my question to everyone is if you are starting to see the same things as well, and is it starting to set off any alarm bells for you? 

 

  Too much demand and money chasing too little supply, which is textbook inflation. It's an extension of what we have been seeing since the pandemic started, but it's shifting as the demand for specific products shifts. Production still hasn't recovered. I think we'll be dealing with it for a while, and it may be long term in areas where the supply chain has taken a longer  term hit.

 

  

[TBoneTX 45,265]

Buy toilet paper now!!!

[Bug&Bug 147]

Very much so.

 

Here housing is absolutely insane. And food it feels like there is some price gouging + inflation, like some supermarkets have doubled prices of produce. 

 

But then, its not surprising, a hit like covid can only lead to several years of inflation and recession.

[Ban Hammer 13,332]

seeing reports of chlorine being in short supply.  also some local gas stations are out of gas (except premium)

[Crtcl Rice Theory 2,432]

Whether you run an oil refinery or chip factory, forecasting demand over the last year has been taxing.  If you couple that with  the fact that global supply chains are complicated and spread thin with JIT efficiencies, any disruption can lead to equipment being offline, missing materials or clogged transportation lines.  Throw in a boat going sideways in the Suez canal and you wind up with shortages which may look like inflation but will level out in the long run. 

[Nature Boy 2.0 8,370]

Mike Wallace was on point yesterday. Seems Biden wants to raise corporates tax rate to the highest in the world. Of course it will just be passed on to the consumer, causing inflation and wage buying power will go down. Great lets raise the min wge to 15 an hour then make everything more expensive.  They cant be that stupid. Are the trying to destroy America and the middle class on purpose?

[Neonred 3,562]

1 hour ago, Nature Boy 2.0 said:

  They cant be that stupid. Are the trying to destroy America and the middle class on purpose?

They are, and they are.

[Neonred 3,562]

11 hours ago, TBoneTX said:

Buy POTS now!!!

Fixed it for you.

[Crtcl Rice Theory 2,432]

1 hour ago, Nature Boy 2.0 said:

Mike Wallace was on point yesterday. Seems Biden wants to raise corporates tax rate to the highest in the world. Of course it will just be passed on to the consumer, causing inflation and wage buying power will go down. Great lets raise the min wge to 15 an hour then make everything more expensive.  They cant be that stupid. Are the trying to destroy America and the middle class on purpose?

You would need 4 people working fulltime @ minimum wage to come close to getting a household income that looks like "middle class"

[Bug&Bug 147]

1 hour ago, Nature Boy 2.0 said:

Mike Wallace was on point yesterday. Seems Biden wants to raise corporates tax rate to the highest in the world. Of course it will just be passed on to the consumer, causing inflation and wage buying power will go down. Great lets raise the min wge to 15 an hour then make everything more expensive.  They cant be that stupid. Are the trying to destroy America and the middle class on purpose?

Way better they raise corporate taxes and not peoples income taxes though. I would very much prefer Bezos and co start paying a fair share to help get out of the whole, and not us the unlucky shmucks that are allways paying while trying to make a living.

[Ban Hammer 13,332]

12 minutes ago, CanAm1980 said:

You would need 4 people working fulltime @ minimum wage to come close to getting a household income that looks like "middle class"

not buying that
the Pew definition of middle-class income would include households earning between $45,802 and $137,406.
https://www.thebalance.com/definition-of-middle-class-income-4126870

The annual earnings for a full-time minimum-wage worker is $15,080 at the current federal minimum wage of $7.25.

so more like 3 working full time minimum wage jobs.
however, if you're working a minimum wage job and have a family, it might be a good idea to learn a marketable skill.

[Crtcl Rice Theory 2,432]

11 minutes ago, Bug&Bug said:

Way better they raise corporate taxes and not peoples income taxes though. I would very much prefer Bezos and co start paying a fair share to help get out of the whole, and not us the unlucky shmucks that are allways paying while trying to make a living.

I have had three great years in the stock market, I wouldn't complain if I paid a little more on the on the long term Cap gains.  As Warren Buffet has said, it makes no sense that my tax rate is lower than my Admins. 

 

But there is another issue:

Lets just start with enforcement against tax fraud / evasion by the richest.  Congress has gutter IRS enforcement while the "shmucks" like us have audits at historic highs.  

 

Just watch the Laundromat or Panama Papers  documentary if you want your blood to boil.   

 

[Crtcl Rice Theory 2,432]

1 minute ago, Ban Hammer said:

not buying that
the Pew definition of middle-class income would include households earning between $45,802 and $137,406.
https://www.thebalance.com/definition-of-middle-class-income-4126870

The annual earnings for a full-time minimum-wage worker is $15,080 at the current federal minimum wage of $7.25.

so more like 3 working full time minimum wage jobs.
however, if you're working a minimum wage job and have a family, it might be a good idea to learn a marketable skill.

45k in NY , Bay Area or Seattle is not going to get a family of 4 very far, I guess they should break up the family and "vote with their feet" The people harvesting my food,  delivering my packages, ringing my groceries, washing my bathrooms and making my Martini extra dry deserve to be paid enough to move themselves forward.    Some are just profits that companies are putting in their pockets and not taking care of their people.