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olejoedad
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JUN 07, 07:14 PM
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| quote | Originally posted by cvxjet:
The main cause of inflation at the moment is gas prices.....
The oil industry is really hurting due to numerous things, including the Russia attempt to eliminate the Jewish Nazis in Ukraine......So they are "forced" to raise prices because of low supply.....They are hurting bad...but the good thing is, their profits are up by 40-50%....That is bad pain, huh?
The oil industry is America's roy-al-tee......they are above the law.... |
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There is a lot more to it that the above.
Lack of financing availability.
Lack of permits for infrastructure.
Lack of service companies.
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MidEngineManiac
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JUN 07, 07:34 PM
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I think a lot of it is just pure profiteering.
Got 2 boxes of jumbo Mr. Freeze this morning (the BIG popsicles for the guys that dont know the brand). 10 bucks a box at walmart. Same box was 4 bucks last summer.
How many boxes of those to a truckload ? 30 pallets x 250 boxes (I am rough guessing) is 7,500 boxes x 6 bucks each increase is $45,000.
Gonna try to tell me costs for one truckload increased by 45 GRAND over last year ?????
NOPE, but everybody along the way is using the excuse to bump the price a little, pocket a little, and when it finally hits the consumer its a whole lot.[This message has been edited by MidEngineManiac (edited 06-07-2022).]
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theBDub
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JUN 07, 09:42 PM
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We are similar in income and how we manage our finances. My wife and I are very fortunate and don't have to budget, but we have savings targets and track on a broad level. We've noticed some prices going up, but we haven't noticed major impacts to our savings. Part of this is probably just because we don't track it that much. Part of this also might be that we're already used to spending a lot on food. We cook in a lot, but we splurge on expensive meals very often.
I've noticed gas prices. I use Premium in my car, so it adds up even though I'm in Texas. That's added maybe $200/month or so, but even then it doesn't really change our savings. Prices have been going up, I just don't know that I can really say it's impacted us in a meaningful way yet. The most meaningful impact is that all of our retirement and investment accounts are down lol. Edit: I guess our houses went up, but I don't really consider that a big win as the price of realizing those gains also went up.
I can say fairly definitively that our grocery budget has not doubled, so I'm not sure it's accurate to say that an average person's has more than doubled. I guess what I'm saying is, I know that prices have gone up, but I don't think it's the 40-50% you're picturing. Certainly not 100% for groceries. I might be wrong.[This message has been edited by theBDub (edited 06-07-2022).]
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82-T/A [At Work]
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JUN 08, 10:58 AM
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| quote | Originally posted by theBDub:
I can say fairly definitively that our grocery budget has not doubled, so I'm not sure it's accurate to say that an average person's has more than doubled. I guess what I'm saying is, I know that prices have gone up, but I don't think it's the 40-50% you're picturing. Certainly not 100% for groceries. I might be wrong.
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I assume you shop at the HEB? HEB has their own distribution network, and many farms and suppliers that are dedicated to just them. HEB specifically focuses on suppliers in Texas. Like almost everything in Texas, they've tried to be as independent as possible from the rest of the country. HEB could literally operate on their own with the bare essentials and much more.
Here in Florida, we have Publix, Winn Dixie, and a few other smaller stores (Target / Walmart grocers). Up north, you have Wegmans, Food Lion, Giant, SafeWay, blah blah. Other than HEB, most of the grocery stores get their food from different suppliers, and a lot of it is shipped in from other countries as well.
I can attest as confidently as possible, that food prices have definitely doubled, much of it is caused by the increase in gas prices... something that I suspect HEB has less issue with since most of their suppliers are local.
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theBDub
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JUN 08, 11:25 AM
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| quote | Originally posted by 82-T/A [At Work]:
I assume you shop at the HEB? HEB has their own distribution network, and many farms and suppliers that are dedicated to just them. HEB specifically focuses on suppliers in Texas. Like almost everything in Texas, they've tried to be as independent as possible from the rest of the country. HEB could literally operate on their own with the bare essentials and much more.
Here in Florida, we have Publix, Winn Dixie, and a few other smaller stores (Target / Walmart grocers). Up north, you have Wegmans, Food Lion, Giant, SafeWay, blah blah. Other than HEB, most of the grocery stores get their food from different suppliers, and a lot of it is shipped in from other countries as well.
I can attest as confidently as possible, that food prices have definitely doubled, much of it is caused by the increase in gas prices... something that I suspect HEB has less issue with since most of their suppliers are local. |
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I wish. We're getting our first HEB in Dallas in the next few months. They have their Whole Foods competitor here called Central Market, which is okay and carries some of the HEB brands, but expensive.
No, we shop mostly at Sprouts and primarily buy fresh vegetables. We shop at Costco for pantry items. For meat, we'll just get whatever is on sale at either one.
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82-T/A [At Work]
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JUN 08, 11:36 AM
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| quote | Originally posted by theBDub:
I wish. We're getting our first HEB in Dallas in the next few months. They have their Whole Foods competitor here called Central Market, which is okay and carries some of the HEB brands, but expensive.
No, we shop mostly at Sprouts and primarily buy fresh vegetables. We shop at Costco for pantry items. For meat, we'll just get whatever is on sale at either one. |
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I lived across the largest HEB (at least at the time) in the state when I lived in San Antonio. I lived in Encino Park on the other side of 281. It's massive. It's so big that it actually has several other stores inside of it.
20935 U.S. Hwy 281 N, San Antonio, TX 78258
I can't remember the actual size, but it would be like if you added two Costco's together... though the part that was specific to just HEB was probably only about as big as a little larger than a large Costco.
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rinselberg
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JUN 08, 11:53 AM
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Yahoo! Inflation is about to ease!
Really?
| quote | After months of rising prices and tightening purse strings, the price of semiconductor chips, shipping, and fertilizer is receding down to normal levels—indicating that global inflation might be past its peak.
These three supply-side metrics, which have soared over the last year, pushing inflation levels globally to the highest point in 40 years, are now turning around and falling from their pandemic highs. |
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I dunno. But that's their report. Originally published in Fortune(.com)
"Three key indicators showing inflation is poised to ease"
Sophie Mellor for Fortune and republished on Yahoo!; June 7, 2022.
https://www.yahoo.com/now/t...ation-155814247.html
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theBDub
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JUN 08, 12:55 PM
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| quote | Originally posted by rinselberg:
Yahoo! Inflation is about to ease!
Really?
I dunno. But that's their report. Originally published in Fortune(.com)
"Three key indicators showing inflation is poised to ease"
Sophie Mellor for Fortune and republished on Yahoo!; June 7, 2022.
https://www.yahoo.com/now/t...ation-155814247.html |
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I've been thinking for awhile (4 years or so) that we've been due for a bit of a recession. I don't see us getting out of this inflationary cycle without one. Sure, we may see inflation decrease, but I don't see true downward pressure until people stop spending so much and companies start going out of business.
It's just intuition though. I'm young enough that I welcome a recession, though I worry for my parents who are nearing retirement age.
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Jake_Dragon
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JUN 08, 01:56 PM
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| quote | Originally posted by theBDub:
I've been thinking for awhile (4 years or so) that we've been due for a bit of a recession. I don't see us getting out of this inflationary cycle without one. Sure, we may see inflation decrease, but I don't see true downward pressure until people stop spending so much and companies start going out of business.
It's just intuition though. I'm young enough that I welcome a recession, though I worry for my parents who are nearing retirement age.
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How do you feel about SS? As some people entering retirement and seeing 401k and other investments dry up. SS may end up being the only income some people have.
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82-T/A [At Work]
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JUN 08, 02:31 PM
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| quote | Originally posted by rinselberg:
Yahoo! Inflation is about to ease!
Really?
I dunno. But that's their report. Originally published in Fortune(.com)
"Three key indicators showing inflation is poised to ease"
Sophie Mellor for Fortune and republished on Yahoo!; June 7, 2022.
https://www.yahoo.com/now/t...ation-155814247.html |
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The question I would ask is what is meant by "easing" inflation. Does that mean that prices will go down... or does that mean that prices stop going up at such an aggressive pace?
What I realize is that we are likely to never see the prices we once saw. Inflation leads to higher prices... which are permanent. While gas prices may go down with a Republican administration, which will result in lower prices for most goods... we'll never see the low costs for products as they were by the end of 2019. And that's unfortunate.
It essentially means the financial gains in wage growth that we saw a few years ago are effectively wiped out.[This message has been edited by 82-T/A [At Work] (edited 06-08-2022).]
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