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(MSN)   Sending a container from China to the US peaked in September 2021 at $20,586, now it is $1,935. Similarly, chicken wings and used car prices are all dropping precipitously. Soon, prices will be back down to what they were in Subby's day   (msn.com) divider line
    More: Cool, Inflation, Suggested retail price, price of gasoline, Price, year of high inflation, car prices, 2-percent price stability target, Consumer price index  
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707 clicks; posted to Business » on 05 Dec 2022 at 4:35 PM (9 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



32 Comments     (+0 »)
View Voting Results: Smartest and Funniest
 
2022-12-05 4:09:35 PM  
They may drop, but I sincerely doubt they'll return to pre-plague levels.  Companies are going to take as much advantage as they dare to bring them down just enough that people start breathing sighs of relief, but not so low that they'd match what prices would normally be with standard inflation between pre-plague days and now.  People will never know the difference because most won't bother figuring it out, they'll just be glad prices have come down.  Meanwhile the companies will continue making more profit than they should be.
 
2022-12-05 4:15:52 PM  
Once wages go markedly higher, they tend to stay there... that's why the Fed freaks out about wages.

Prices will come down, absolutely, but they will never go back to pre-pandemic levels to account for wage inflation.

Oh, and all the profit that must be siphoned off to the C-suite.

You can't ever touch that. Not ever.
 
2022-12-05 4:39:46 PM  
Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!
 
2022-12-05 4:55:58 PM  
The Republican House is working miracles already!
 
2022-12-05 4:59:26 PM  

Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!


Computers, houses, gas, etc.  all go up and down in price.
 
2022-12-05 5:06:21 PM  

Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!


Never? Weird i could have sworn I was paying $5/gal for gas in the spring and closer to $3.50/gal now. Must be the new math
 
2022-12-05 5:09:20 PM  

mcreadyblue: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!

Computers, houses, gas, etc.  all go up and down in price.


Houses... no. Computers, because a small range of technology does get cheaper over time. But thanks for playing!
 
2022-12-05 5:10:28 PM  

TDWCom29: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Never? Weird i could have sworn I was paying $5/gal for gas in the spring and closer to $3.50/gal now. Must be the new math


Ok, fuel. But you know we're talking about groceries and other necessities, right? Or are we just gonna be a bunch of idiots here?
 
2022-12-05 5:18:58 PM  

Scorpitron is reduced to a thin red paste: mcreadyblue: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!

Computers, houses, gas, etc.  all go up and down in price.

Houses... no. Computers, because a small range of technology does get cheaper over time. But thanks for playing!


You've never had the fun or using comps to show your property value went down to a tax assessor.
 
2022-12-05 5:19:43 PM  

NewportBarGuy: Once wages go markedly higher, they tend to stay there...


Not necessarily. It depends on the good or service (everything is variable), but generally things that are an unavoidable need (like food/gas/power/etc.) will stay up because demand remains steady and companies can continue to price gouge.

But things that are a want, like luxuries or entertainment, will come down sharply because people don't need those to live. Demand will go down, necessitating a drop in prices until people see a bargain worth paying for again.

Want prices to go down? Stop buying stuff. Boycott all unnecessary shopping. Your economy (and your bank balance) will thank you.
 
2022-12-05 5:20:03 PM  
Fark user imageView Full Size
 
2022-12-05 5:35:08 PM  
Good news: Shipping container prices are down

Bad news: Because you wouldn't pay for them, we're going to charge you even more for warehouse storage of your goods. Don't want to pay that? We'll sell it to the highest bidder. Good luck!
 
2022-12-05 5:52:13 PM  

wildcardjack: Scorpitron is reduced to a thin red paste: mcreadyblue: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!

Computers, houses, gas, etc.  all go up and down in price.

Houses... no. Computers, because a small range of technology does get cheaper over time. But thanks for playing!

You've never had the fun or using comps to show your property value went down to a tax assessor.


I didn't even have to do that last year. The county lowered by valuation all on their own. Of course we finally voted the corrupt Republican assessor so that probably had something to do with it.
 
2022-12-05 5:52:23 PM  

TDWCom29: The Republican House is working miracles already!


Joke at Fark, platform at GOP.
 
2022-12-05 5:55:33 PM  

Scorpitron is reduced to a thin red paste: mcreadyblue: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!

Computers, houses, gas, etc.  all go up and down in price.

Houses... no. Computers, because a small range of technology does get cheaper over time. But thanks for playing!


December 2, 2022:
Here's how much US home prices will plunge in current market bubble
 
2022-12-05 6:01:58 PM  

Scorpitron is reduced to a thin red paste: TDWCom29: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Never? Weird i could have sworn I was paying $5/gal for gas in the spring and closer to $3.50/gal now. Must be the new math

Ok, fuel. But you know we're talking about groceries and other necessities, right? Or are we just gonna be a bunch of idiots here?


I've also noticed prices coming down on things like groceries and prepared food. They're still shockingly high in some cases compared to a couple of years ago, but it's entirely possible that there's a trend towards lower prices. Fuel costs are a key driver of price increases for anything which needs to be transported, so a drop in fuel costs should, in a sane market, result in lowered costs for lots of other products. With COVID restrictions being relaxed, labor efficiency should go back up as well, which should reduce supply chain lag, which should increase supply, which should also lower prices.

Housing prices are coming down as well where I live due to rising interest rates and people moving out of the area.

Anecdotes are not, of course, data, but in this case the anecdotes appear to support the data and vice versa.
 
2022-12-05 6:29:32 PM  
Let me know when gas hiats $.74/gal
 
2022-12-05 6:33:14 PM  
Not enough people died in the pandemic to off-set the excessive demand that overpopulation had on the ability of the supply chain to provide.
 
2022-12-05 6:36:56 PM  

enry: Let me know when gas hiats $.74/gal


Haven't seen gas that low since 1988.

Fark user imageView Full Size
 
2022-12-05 6:44:10 PM  

TDWCom29: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Never? Weird i could have sworn I was paying $5/gal for gas in the spring and closer to $3.50/gal now. Must be the new math


I have been assured by Fark GEDs in Economics that this is because companies keep changing their mind about whether they want to maximize profit or not.  Supply and demand have nothing to do with it.
 
2022-12-05 6:45:41 PM  

Ishkur: Want prices to go down? Stop buying stuff.


So close to getting it...
 
2022-12-05 6:48:30 PM  

dustman81: enry: Let me know when gas hiats $.74/gal

Haven't seen gas that low since 1988.

[Fark user image image 678x470]


I guess I wasn't obscure enough.
 
2022-12-05 8:19:05 PM  

dustman81: enry: Let me know when gas hiats $.74/gal

Haven't seen gas that low since 1988.

[Fark user image image 678x470]


Gas was that cheap the summer I graduated from hig school, 1998.
 
2022-12-05 8:39:35 PM  
I just came back from the grocery store.  I didn't notice any cheaper prices.
 
2022-12-05 9:55:31 PM  

Sofakinbd: Scorpitron is reduced to a thin red paste: mcreadyblue: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Nice thing about cartels and little or no competition!

Computers, houses, gas, etc.  all go up and down in price.

Houses... no. Computers, because a small range of technology does get cheaper over time. But thanks for playing!

December 2, 2022:
Here's how much US home prices will plunge in current market bubble


Who the fark is going to sell if prices look like they're declining?  Especially if rates stay high and you know you wouldn't be able to get that 2.x% interest rate again?

If you had to move, you'd just lease it out.  The housing shortage isn't changing, and you could easily turn it into a rental until the prices rise.

BMFPitt: TDWCom29: Scorpitron is reduced to a thin red paste: Ha ha, prices don't go down!

Never? Weird i could have sworn I was paying $5/gal for gas in the spring and closer to $3.50/gal now. Must be the new math

I have been assured by Fark GEDs in Economics that this is because companies keep changing their mind about whether they want to maximize profit or not.  Supply and demand have nothing to do with it.


I know right?  All this time they were just sitting around saying "Should we charge more?  Nah."  Doesn't matter, this is Fark... Just a matter of time before it's PROOOOCE GOOOGIN circlejerk.
Fark user imageView Full Size


/Has anyone volunteered to take a pay cut if prices decline?  No?  Because they get the maximum price they can for their goods, services, and labor?
//Huh... Weird. I guess whether you're selling labor, selling services, selling goods, or selling property, it's all the same game.
///Opening more immigration, more H1B visas, and automation are examples of high prices spurring more supply.
 
2022-12-06 12:07:44 AM  

max_pooper: dustman81: enry: Let me know when gas hiats $.74/gal

Haven't seen gas that low since 1988.

[Fark user image image 678x470]

Gas was that cheap the summer I graduated from hig school, 1998.


Yep. IIRC, OPEC was in a price war with someone.
 
2022-12-06 12:08:48 AM  

Izunbacol: Who the fark is going to sell if prices look like they're declining?


People who realize they bought for way too much and can't make the payments.
 
2022-12-06 12:27:35 AM  

stoli n coke: Izunbacol: Who the fark is going to sell if prices look like they're declining?

People who realize they bought for way too much and can't make the payments.


Every car sold in the last 18 months
 
2022-12-06 1:19:59 AM  

stoli n coke: Izunbacol: Who the fark is going to sell if prices look like they're declining?

People who realize they bought for way too much and can't make the payments.


Um, no. They are going to walk away and the banks will hold them and rent them out. That's what they want anyway.

I wouldn't put it past the banks to take back the houses and make deals with the previous owners to stay there and pay rent for what they can afford.

Rates will come back down when the cars are ready as that lobby needs low interest rates to move vehicles. It will be either that or we bail out the auto industry again which will happen if they run at full tilt and people don't buy with high rates. People are getting used to holding onto their cars. And WfH has drastically reduced miles driven per person.

That article about home prices taking a shave is also a lot of speculation based on past economic periods that were vastly different than now. WfH will keep hosue demands in nice suburban and coastal areas high for that demographic. People have money and jobs so they will blow up the cities again. Rural areas are gonna get crushed further.

The boomers are dying faster than expected. That wealth will be distributed to younger people in cities and suburbs who will need to buy what they can since rents won't go down if the banks own properties instead of single landlords or smaller firms.
 
2022-12-06 3:44:42 AM  
I still find it incredible that a shipping container went to over $20k from about $2k.  Outrageous. How often do prices increase 10x over the average in just a year? At least it went back down. I'm just glad I wasn't in logistics over the past couple years.
 
2022-12-06 1:41:12 PM  

badplaid: stoli n coke: Izunbacol: Who the fark is going to sell if prices look like they're declining?

People who realize they bought for way too much and can't make the payments.

Um, no. They are going to walk away and the banks will hold them and rent them out. That's what they want anyway.

I wouldn't put it past the banks to take back the houses and make deals with the previous owners to stay there and pay rent for what they can afford.

Rates will come back down when the cars are ready as that lobby needs low interest rates to move vehicles. It will be either that or we bail out the auto industry again which will happen if they run at full tilt and people don't buy with high rates. People are getting used to holding onto their cars. And WfH has drastically reduced miles driven per person.

That article about home prices taking a shave is also a lot of speculation based on past economic periods that were vastly different than now. WfH will keep hosue demands in nice suburban and coastal areas high for that demographic. People have money and jobs so they will blow up the cities again. Rural areas are gonna get crushed further.

The boomers are dying faster than expected. That wealth will be distributed to younger people in cities and suburbs who will need to buy what they can since rents won't go down if the banks own properties instead of single landlords or smaller firms.


I don't buy all of this.

- People walking away from loans in the housing crash was mostly people who weren't qualified to buy a home in the first place. The lending standards are more stringent now.

- banks don't rent out homes. They don't want to be landlords.  They don't even want to be realtors. They want to unload the place.  Short, auction, whatever, they want it off their books.

I do think you're spot on with rural areas getting crushed even more, though I don't think cities will be "blown up," but I suspect that most places worth gentrifying in cities have already turned over. Suburbs will continue to be attractive, especially if WFH persists. There will always be people of a certain age who want walkable urban blah blah blah, people who want a real house, people who want a rural retreat. Those are going to be driven by population curves as much as anything.
 
2022-12-06 3:15:26 PM  

Izunbacol: badplaid: stoli n coke: Izunbacol: Who the fark is going to sell if prices look like they're declining?

- People walking away from loans in the housing crash was mostly people who weren't qualified to buy a home in the first place. The lending standards are more stringent now.
- banks don't rent out homes. They don't want to be landlords.  They don't even want to be realtors. They want to unload the place.  Short, auction, whatever, they want it off their books.


If people are underwater, they will find a way to walk away.

Also, have you kept up with the business tab lately?
https://news.bitcoin.com/wall-street-giants-want-to-be-your-landlord-data-shows-megabanks-are-buying-up-all-the-us-real-estate/

You can poopoo the source, but I could cite 20 more.  This one is a good one.  When mortgage banking was separate from financial banking, this was the case, but now everyone is everyone.

Lloyds is buying EVERYTHING in England.

Things are not like they were "historically". Everything is in a new era. Information being readily available to everyone changes the game.
 
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