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(Fox Business)   The hero companies out there are combatting inflation by raising prices   (foxbusiness.com) divider line
    More: Hero, Procter & Gamble, Generally Accepted Accounting Principles, Fiscal year, Revenue, price increases, company's current fiscal year, pricing reaches store shelves, Cost  
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930 clicks; posted to Business » on 20 Oct 2021 at 10:40 PM (5 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



27 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2021-10-20 10:55:41 PM  
Brought to you by the people who think shooting folks solves gun violence.
 
2021-10-20 11:27:43 PM  
That will show them!  Take that inflation!  We are raising prices.
 
2021-10-20 11:37:43 PM  
to combat broad-based and sustained inflationary pressures.

And just the other day I was assured by The Fed that inflation was "transitory."
 
2021-10-20 11:41:14 PM  

Earl of Chives: to combat broad-based and sustained inflationary pressures.

And just the other day I was assured by The Fed that inflation was "transitory."


It kind of depends on if to them transitory means "several years."
 
2021-10-20 11:44:36 PM  
WTF?
 
2021-10-21 12:00:39 AM  
So...we heard you wanted inflation so we got some inflation for your inflation.
 
2021-10-21 12:40:12 AM  
Not sure any of you finished high school, this is exactly how inflation works, did you think a gallon of milk costing 50 cents 30 years ago to 3 bucks now happened magically or did someone have to i dunno maybe rise the price at some point along the timeline.
 
2021-10-21 12:49:05 AM  

abiigdog: Not sure any of you finished high school, this is exactly how inflation works, did you think a gallon of milk costing 50 cents 30 years ago to 3 bucks now happened magically or did someone have to i dunno maybe rise the price at some point along the timeline.


Milk is not the best example because due to subsidies, it has remained static and even has had deflation.
 
2021-10-21 12:53:55 AM  

abiigdog: Not sure any of you finished high school, this is exactly how inflation works, did you think a gallon of milk costing 50 cents 30 years ago to 3 bucks now happened magically or did someone have to i dunno maybe rise the price at some point along the timeline.


Guy, it is funny because the headline of the article is, "Procter & Gamble combats inflation with price hikes in most categories."

Do you really need me to explain the humor of the headline?
 
2021-10-21 12:59:58 AM  

Moniker o' Shame: abiigdog: Not sure any of you finished high school, this is exactly how inflation works, did you think a gallon of milk costing 50 cents 30 years ago to 3 bucks now happened magically or did someone have to i dunno maybe rise the price at some point along the timeline.

Guy, it is funny because the headline of the article is, "Procter & Gamble combats inflation with price hikes in most categories."

Do you really need me to explain the humor of the headline?


Can you please monsplain it?
 
2021-10-21 1:51:10 AM  
Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?
 
2021-10-21 6:10:47 AM  

jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?


Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?
 
2021-10-21 7:15:37 AM  

keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?


Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.
 
2021-10-21 7:30:54 AM  

outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.


We are currently in an orgy of consumption.

We are simply buying an enormous amount of things. When the pandemic began, and Americans found themselves unable to go out, households suddenly shifted their spending to goods from services. With the money they saved skipping restaurant meals, movie trips, and vacations, people spruced up their living rooms with new couches, built out home offices, and bought themselves some exercise equipment. Stimulus checks helped fuel the shopping as many employees who'd kept their jobs splurged on TVs and cars. Economists widely expected that, as the pandemic faded, Americans would revert back to their older spending patterns. But that hasn't happened yet, thanks in part to the delta wave. By August, inflation-adjusted spending on goods was up 14.5 percent compared with pre-pandemic, while services were still down more than 2 percent.
As a result of this buying binge, the United States is now actually importing more physical goods than ever before. That may sound a bit strange, given all the focus on how supply chains are in disarray. But it's true. Measured by shipping container volume, imports were up 5 percent year-over-year in September, and up 17 percent compared with the same time in 2019, before the pandemic, according to the latest report from Panjiva, the trade data firm owned by S&P Global.


https://slate.com/business/2021/10/su​p​ply-chain-shortages-retail-united-stat​es-explained.html
 
2021-10-21 8:06:40 AM  

hoodiowithtudio: abiigdog: Not sure any of you finished high school, this is exactly how inflation works, did you think a gallon of milk costing 50 cents 30 years ago to 3 bucks now happened magically or did someone have to i dunno maybe rise the price at some point along the timeline.

Milk is not the best example because due to subsidies, it has remained static and even has had deflation.


This. This is this goes for a lot of stuff that has artificially inflated cost
 
2021-10-21 8:23:03 AM  

hoodiowithtudio: abiigdog: Not sure any of you finished high school, this is exactly how inflation works, did you think a gallon of milk costing 50 cents 30 years ago to 3 bucks now happened magically or did someone have to i dunno maybe rise the price at some point along the timeline.

Milk is not the best example because due to subsidies, it has remained static and even has had deflation.


I was going to say there are two things that haven't gone up in price in 30 years.

Milk and Bread
 
2021-10-21 8:35:21 AM  

Moniker o' Shame: Earl of Chives: to combat broad-based and sustained inflationary pressures.

And just the other day I was assured by The Fed that inflation was "transitory."

It kind of depends on if to them transitory means "several years."


Transitory in the sense of the accelerated transition of your money to the .01%
 
2021-10-21 9:17:54 AM  

outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.


Fark user imageView Full Size


Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.
 
2021-10-21 9:25:17 AM  

keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.


Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.
 
2021-10-21 10:21:14 AM  

keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.

Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.


China is currently colonizing Africa. If they are successful, they will have a market that can replace the us.
 
2021-10-21 10:38:30 AM  

hoodiowithtudio: keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.

Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.

China is currently colonizing Africa. If they are successful, they will have a market that can replace the us.


Africa is expansion territory and a cherry on top for China at best. It's a bonus, not a replacement. Africa as a continent simply doesn't have the gdp to replace the US and the wealthiest areas are not the ones desperate to be colonized by China. In a few decades if things go well and local dictators stop slaughtering everyone, maybe, but in the interim there is no replacing the US when it comes to a trading partner and even if there was a country or countries out there that fit the bill, it would make no sense to destroy what would still be a valuable trading partner. It would be like a company voluntarily giving up a valuable contract because they got one slightly better while they had the capacity to service both.

China and the US have their diplomatic issues which run deep but the truth is they need each other and this is just a Cold War style negotiations at worse, or a lovers spat at best.
 
2021-10-21 10:59:26 AM  

keldaria: hoodiowithtudio: keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.

Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.

China is currently colonizing Africa. If they are successful, they will have a market that can replace the us.

Africa is expansion territory and a cherry on top for China at best. It's a bonus, not a replacement. Africa as a continent simply doesn't have the gdp to replace the US and the wealthiest areas are not the ones desperate to be colonized by China. In a few decades if things go well and local dictators stop slaughtering everyone, maybe, but in the interim there is no replacing the US when it comes to a trading partner and even if there was a country or countries out there that fit the bill, it would make no sense to destroy what would still be a valuable trading partner. It would be like a company voluntarily giving up a valuable contract because they got one slightly better while they had the capacity to service both.

China and the US have their diplomatic issues which run deep but the truth is they need each other and this is just a Cold War style negotiations at worse, or a lovers spat at best.


All this discussion hinges on one crucial assumption;- that China is unwilling to disconnect from capitalism. Dollar has no meaning when there is no international trade due to one side deciding to only satisfy it's internal needs. With Africa, China easily can, given they now control access to all necessary natural resources, human talent and production facilities.

Never assume that the other player agrees to the rules you play by yourself.

I am not willing to assume China is a capitalism junkie unable to shake the habit.
 
2021-10-21 11:34:32 AM  

hoodiowithtudio: keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be act ...


You're looking at it wrong - Africa isn't a buyer for China, it's a supplier.  China sees a continent of cheap and needy labor.
 
2021-10-21 12:10:35 PM  

outtatowner: keldaria: hoodiowithtudio: keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.

Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.

China is currently colonizing Africa. If they are successful, they will have a market that can replace the us.

Africa is expansion territory and a cherry on top for China at best. It's a bonus, not a replacement. Africa as a continent simply doesn't have the gdp to replace the US and the wealthiest areas are not the ones desperate to be colonized by China. In a few decades if things go well and local dictators stop slaughtering everyone, maybe, but in the interim there is no replacing the US when it comes to a trading partner and even if there was a country or countries out there that fit the bill, it would make no sense to destroy what would still be a valuable trading partner. It would be like a company voluntarily giving up a valuable contract because they got one slightly better while they had the capacity to service both.

China and the US have their diplomatic issues which run deep but the truth is they need each other and this is just a Cold War style negotiations at worse, or a lovers spat at best.

All this discussion hinges on one crucial assumption;- that China is unwilling to disconnect from capitalism. Dollar has no meaning when there is no international trade due to one side deciding to only satisfy it's internal needs. With Africa, China easily can, given they now control access to all necessary natural resources, human talent and production facilities.

Never assume that the other player agrees to the rules you play by yourself.

I am not willing to assume China is a capitalism junkie unable to shake the habit.


Their actions say otherwise. Nothing they have done to date shows any inclination to back away from capitalism, if anything they look to be leaning in harder but just with more oversight and control on the process. Why wouldn't they lean in, it's taken their economy and made it grow like crazy over the last 4 decades. I don't see them suddenly changing course on that and even if they did, I imagine the shock to their economy from making such strong maneuvers as you are suggesting would be massive and give them plenty of reason to pause and backtrack.

If China was 100% committed to socialism above all else it would have crushed capitalism the second it started to creep into their way of life. However the bits of capitalism that have creeped in have been very rewarding for them, if they weren't they'd have backed away long ago. It's boosting the underclass and the top at the same time, nobody is complaining about capitalism over there, it's not going anywhere.
 
2021-10-21 12:20:44 PM  

jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?


Can't tell if stupid or just a troll.... This has NOTHING to do with wages #1 and #2 wages are STILL far below where they should be had they kept pace with inflation... But you keep licking those boots my dude. Let me know when the flavor runs out will ya?
 
2021-10-21 1:38:16 PM  

keldaria: outtatowner: keldaria: hoodiowithtudio: keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.

Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.

China is currently colonizing Africa. If they are successful, they will have a market that can replace the us.

Africa is expansion territory and a cherry on top for China at best. It's a bonus, not a replacement. Africa as a continent simply doesn't have the gdp to replace the US and the wealthiest areas are not the ones desperate to be colonized by China. In a few decades if things go well and local dictators stop slaughtering everyone, maybe, but in the interim there is no replacing the US when it comes to a trading partner and even if there was a country or countries out there that fit the bill, it would make no sense to destroy what would still be a valuable trading partner. It would be like a company voluntarily giving up a valuable contract because they got one slightly better while they had the capacity to service both.

China and the US have their diplomatic issues which run deep but the truth is they need each other and this is just a Cold War style negotiations at worse, or a lovers spat at best.

All this discussion hinges on one crucial assumption;- that China is unwilling to disconnect from capitalism. Dollar has no meaning when there is no international trade due to one side deciding to only satisfy it's internal needs. With Africa, China easily can, given they now control access to all necessary natural resources, human talent and production facilities.

Never assume that the other player agrees to the rules you play by yourself.

I am not willing to assume China is a capitalism junkie unable to shake the habit.

Their actions say otherwise. Nothing they have done to date shows any inclination to back away from capitalism, if anything they look to be leaning in harder but just with more oversight and control on the process. Why wouldn't they lean in, it's taken their economy and made it grow like crazy over the last 4 decades. I don't see them suddenly changing course on that and even if they did, I imagine the shock to their economy from making such strong maneuvers as you are suggesting would be massive and give them plenty of reason to pause and backtrack.

If China was 100% committed to socialism above all else it would have crushed capitalism the second it started to creep into their way of life. However the bits of capitalism that have creeped in have been very rewarding for them, if they weren't they'd have backed away long ago. It's boosting the underclass and the top at the same time, nobody is complaining about capitalism over there, it's not going anywhere.


That's the outward facade they want you to see. Keep in mind the goal of Communism is to unify all governments of the world into one entity. In China's case that may lead through the path of deception by capitalism.

As for current steps that make me think that China is in fact going to up-end the global table for their gain and towards the goal of 'global domination', one just has to look to the changes in their social policies, from population growth through to the very concept of digital social credit score and curbing the use of online games/entertainment for young people.

Just because the logic makes sense in western frame of reference, does not mean that the central planning committee of Chinese Communist Party see it that way. And they won't hint at their true intent, being paranoid statesmen and all.
 
2021-10-21 1:48:55 PM  

outtatowner: keldaria: outtatowner: keldaria: hoodiowithtudio: keldaria: keldaria: outtatowner: keldaria: jjorsett: Remember how y'all would say, "businesses should just raise their prices" whenever anybody said jacking up the minimum wage might be bad for them? Well, wages have increased over 3% this year, and here's your price raise. Why so unhappy?

Honestly I'm not mad, their costs are going up due to supply line issues including labor supply issues so they have to pass that on. That said, paying a living wage does not mean inflation is destined to rise in kind. Not all cost are labor related and attempting to boil things down to that level is silly and missing a big piece of the puzzle.

I agree with the fed, current inflation is transitory. I expect next year inflation will be around the 2% target once we get over this initial spike of monthly comparison from year to year and beyond that it might even go the other way as supply chains catch up and we enter a more normal post pandemic situation. We've only had the vaccines for about a year at this point with wide spread availability for about 8-9 months, supply chains are working themselves out but the labor shortages isn't likely to curb for a little while yet, especially with immigration essentially being curb stomped. I'm not concerned, are you?

Yes, deeply actually. The events happening now are eerily reminiscent of my childhood experiences during the fall of Soviet empire. It started with little things, then inflation kicked in to double digits, then triple and soon a 500zt candy bar was 10,000zt.

If we are to assume that China and Russia would gladly help make this worse out of spite towards the USA, we just may be in for a wild ride next couple of years.

Or not, and we return to hedonistic over-consumption.

[Fark user image image 425x207]

Yes but this isn't that, it isn't even the first time we encountered a brief period of inflation this high in the last 15 years. The pandemic screwed things up, if this was occurring for no apparent reason the fed would be acting. This is not the fall of the Soviet Union, and won't be unless a new civil war erupts in the US and while I can't rule that out, I can say if one does we'll have a bigger concern on our hands.

Inflation was very low last year for obvious, this year it is high as demand resources without supply catching up. In the next 2-3 years things will stabilize and you will likely see inflation being very minimal as inflation already jumped ahead so as supply chains come back online the price won't drop but they also won't need to rise.

Specifically if you look at the outliers in the driving the overall inflation index they represent 3 things. Energy (primarily demand for gas / oil which OPEC is driving up after having to eat the pandemic lows), items that pent up demand is driving up like vacation rentals, car rentals etc, and finally items with obvious supply chain issues like vehicles themselves.

There is nothing to suggest this will be anything sustained or as severe as the fall of the Soviet Union. Hopefully this help.

Also, for what it's worth, while Russia may be interested is the collapse of the dollar, China is most certainly not. Our trade deficit with China guarantees they are always holding a significant quantity of USD not to mention how dependent their economy is on a strong dollar and US consumption. They actively devalue their own currency to make the dollar a stronger currency to ensure their industry maintains a significant advantage, they also utilize dollars to buy the oil they need to function. The collapse of the dollar would cripple 3/4 of the world and a majority of the remaining 1/4 is already crippled or under sanctions to the point of making the use of the USD impractical.

Rest assured China may saber rattle but they need us as much as we need them.

China is currently colonizing Africa. If they are successful, they will have a market that can replace the us.

Africa is expansion territory and a cherry on top for China at best. It's a bonus, not a replacement. Africa as a continent simply doesn't have the gdp to replace the US and the wealthiest areas are not the ones desperate to be colonized by China. In a few decades if things go well and local dictators stop slaughtering everyone, maybe, but in the interim there is no replacing the US when it comes to a trading partner and even if there was a country or countries out there that fit the bill, it would make no sense to destroy what would still be a valuable trading partner. It would be like a company voluntarily giving up a valuable contract because they got one slightly better while they had the capacity to service both.

China and the US have their diplomatic issues which run deep but the truth is they need each other and this is just a Cold War style negotiations at worse, or a lovers spat at best.

All this discussion hinges on one crucial assumption;- that China is unwilling to disconnect from capitalism. Dollar has no meaning when there is no international trade due to one side deciding to only satisfy it's internal needs. With Africa, China easily can, given they now control access to all necessary natural resources, human talent and production facilities.

Never assume that the other player agrees to the rules you play by yourself.

I am not willing to assume China is a capitalism junkie unable to shake the habit.

Their actions say otherwise. Nothing they have done to date shows any inclination to back away from capitalism, if anything they look to be leaning in harder but just with more oversight and control on the process. Why wouldn't they lean in, it's taken their economy and made it grow like crazy over the last 4 decades. I don't see them suddenly changing course on that and even if they did, I imagine the shock to their economy from making such strong maneuvers as you are suggesting would be massive and give them plenty of reason to pause and backtrack.

If China was 100% committed to socialism above all else it would have crushed capitalism the second it started to creep into their way of life. However the bits of capitalism that have creeped in have been very rewarding for them, if they weren't they'd have backed away long ago. It's boosting the underclass and the top at the same time, nobody is complaining about capitalism over there, it's not going anywhere.

That's the outward facade they want you to see. Keep in mind the goal of Communism is to unify all governments of the world into one entity. In China's case that may lead through the path of deception by capitalism.

As for current steps that make me think that China is in fact going to up-end the global table for their gain and towards the goal of 'global domination', one just has to look to the changes in their social policies, from population growth through to the very concept of digital social credit score and curbing the use of online games/entertainment for young people.

Just because the logic makes sense in western frame of reference, does not mean that the central planning committee of Chinese Communist Party see it that way. And they won't hint at their true intent, being paranoid statesmen and all.


Wow, that's some imagination. The idea of a digital social credit score is also heavily based in capitalism, as a true socialistic government focused on those goals wouldn't need such things. China is focused on creating a strong economy almost to absence of anything else. Nearly all of their actions, including the ones you mentioned, can be explained with that alone. They do have secondary goals and beyond but building their economy is central to it all. Capitalism will remain a key piece of that for as long as it is serving it's purpose, and furthering those goals. Where capitalism conflicts with those goals they will regulate it and/or socialize it to be less conflicting to their overall goals but it's ultimately not going anywhere in our lifetimes.
 
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