The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on April 16, 2021, 04:21:22 pm
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Why you should be bracing yourself for higher grocery bills the rest of the year
In the last year, prices have increased 2.6 percent overall amid the coronavirus pandemic.
By
Jenna Romaine | April 16, 2021
Story at a glance
The Bureau of Labor Statistics released the monthly consumer price index on Tuesday.
The report showed a 0.6 percent one-month increase.
That is the biggest one-month increase in close to a decade.
The latest consumer price index shows prices are on the rise, and they’re only expected to get higher.
The Bureau of Labor Statistics released the monthly consumer price index on Tuesday, reporting a 0.6 percent increase. That is the biggest one-month increase in close to a decade.
In the last year, prices have increased 2.6 percent overall amid the coronavirus pandemic, stemming from a combination of consumers stockpiling food and items as lockdowns began and subsequent supply chain disruptions.
In January 2020, a pound of bacon cost $4.72 on average but by March 2021 it cost $5.11. Similarly, a loaf of bread rose from $2.44 to $2.66.
"Gotta be the pandemic," John Kermaj, a shopper in Long Island, N.Y., told ABC News. "Shortage."
more
https://thehill.com/changing-america/respect/poverty/548669-why-you-should-be-bracing-yourself-for-higher-grocery-bills
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We should brace ourselves for much higher prices the next four years at least! But what am I saying, prices can't be going up that much because I got a really generous COL of 1.6% for Social Security this year.
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It is the Biden Recovery.
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It is the Biden Recovery.
The left wing media (including the financial ie Bloonberg et. al) have supressed this story mightyly.
This time next year we will be hearing more terms like stagflation, economic mailase, and correction. The stupid people in this country asked for it.
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In the last year, prices have increased 2.6 percent overall amid the coronavirus pandemic printing of the money.
There, fixed it. The part they are omitting from the story is how the government giving out 'free' money isn't really free after all, because it robs the rest of us through higher prices and reduces our standard of living.
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There, fixed it. The part they are omitting from the story is how the government giving out 'free' money isn't really free after all, because it robs the rest of us through higher prices and reduces our standard of living.
Deficit inceases are like crack to our criminal law makers. Once the euphoria wears off on this fix, expect another.
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Deficit inceases are like crack to our criminal law makers. Once the euphoria wears off on this fix, expect another.
It's not even a deficit increase. The money comes directly from the bottomless vaults of the Fed with unlimited reserves. They don't even have to issue T-bills any more to exchange for dollars from foreign investors. And with that, there is no expectation that the money will ever be paid back.
In the last 12 years, we have added more than $10 trillion in new Fed money directly into the money supply, with the spoken intent that those dollars will eventually be paid back and permanently destroyed in like fashion as their creation. And anyone with any sense of honesty knows full well that this will never happen - that the genie is out of the bottle and will never be put back in. Seriously, can you imagine our Congress ordering $10 trillion dollars to be taken out of the Treasury and destroyed, as opposed to handing it out to special interests to insure their re-election? We are totally screwed. And both parties are to blame.
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Blame the pandemic if you like, but higher energy and transportation costs cannot be ignored.
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Buy physical silver, save yourselves & your family
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Blame the pandemic if you like, but higher energy and transportation costs cannot be ignored.
Spot on.
Biden’s push for more electric cars is part of the war on fossil fuels. Shutting down fossil fuels in an attempt further “green energy†ranks high on my stupid list.
Batteries are not 100% efficient, more energy goes in than out. Same with most any “green energy†source. Especially solar cells. Takes more energy yo manufacture a solar cell than they produce. Used to work for a solar cell manufacturer and that process is NOT environmentally friendly. On top of that Once a solar cell is exposed to sunlight it begins to degrade. And then there are again batteries in the system. Anyone care to guess who has the lithium needed to make batteries?
China dominates the market.
The pandemic can’t be blamed for everything and higher prices at the pump, at the supermarket, shipping cost for online shopping etc. are just a few instances.
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Welcome to TBR, @Potluck ! This whole electric vehicle business is ridiculous. How often, I wonder, would an electric 18-wheeler delivering food to market have to stop for recharging? First, of course, they have to replace all those diesel-powered trucks with electric ones. The cost of that also would be passed on to consumers.
(https://s7d2.scene7.com/is/image/TWCNews/aapimage-tractor-trailer-id18178713246947-18012019jpg)
It runs on batteries! *****rollingeyes*****
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Welcome to TBR, @Potluck ! This whole electric vehicle business is ridiculous. How often, I wonder, would an electric 18-wheeler delivering food to market have to stop for recharging? First, of course, they have to replace all those diesel-powered trucks with electric ones. The cost of that also would be passed on to consumers.
It runs on batteries! *****rollingeyes*****
I've read that EV batteries in a vehicular fire can reach 5000 degrees F. There will be countless deaths in EV's for this reason that likely were survivable wreck with an internal combustion engine. If their was any integrity in the NTSB, this fact would be more widespread.
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Welcome to TBR, @Potluck ! This whole electric vehicle business is ridiculous. How often, I wonder, would an electric 18-wheeler delivering food to market have to stop for recharging? First, of course, they have to replace all those diesel-powered trucks with electric ones. The cost of that also would be passed on to consumers.
It runs on batteries!
Reserve yours today!
https://www.tesla.com/semi
Expected Base Price
(300 mile range)
$150,000
Expected Base Price
(500 mile range)
$180,000
Base Reservation
$20,000
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I've read that EV batteries in a vehicular fire can reach 5000 degrees F. There will be countless deaths in EV's for this reason that likely were survivable wreck with an internal combustion engine. If their was any integrity in the NTSB, this fact would be more widespread.
We use lithium Ion batteries in the gas detection units at work. They are only about 2"X3" and 3/8" thick.
You do NOT want to puncture one of these. They are very powerful for their size. I'm a PCB repair tech to component level and have seen the damage that can be done.
(oh, btw. takes more energy to charge one than it puts out)
If their was any integrity in the NTSB, this fact would be more widespread.
Hey now. No factual criticism allowed. :nono: We can't change the weather but we want to change the climate. How that works I don't know but "green energy" must prevail over fossil fuels or it"s game over baby.
Been hearing that line for the past 30 years or more.
Do I believe in man-made global warming? No. Climate change as a natural occurrence? Yes
Green energy may very well be the future but until that energy becomes economically feasible there's just no reason to nix fossil fuels. Get government out of the way and let the free market work it's magic. Sure, takes time, but we need fossil fuels to tie us over until then.
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You do NOT want to puncture one of these. They are very powerful for their size. I'm a PCB repair tech to component level and have seen the damage that can be done.
(oh, btw. takes more energy to charge one than it puts out)
I was a Safety Health and Environmental Manager at a Petrochemical Plant. Retired 10 years ago. I remember the hassles with PCB equipment, and am surprised the stuff is still used in transfomers, and other electrical equipment.
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I was a Safety Health and Environmental Manager at a Petrochemical Plant. Retired 10 years ago. I remember the hassles with PCB equipment, and am surprised the stuff is still used in transfomers, and other electrical equipment.
@catfish1957 @Potluck
Potluck, did you mean Printed Circuit Boards or PolyChlorinated Biphenyls?
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I was a Safety Health and Environmental Manager at a Petrochemical Plant. Retired 10 years ago. I remember the hassles with PCB equipment, and am surprised the stuff is still used in transfomers, and other electrical equipment.
Not going to escape it. The components these days are so small I have to use tweezers and a 6X binocular scope (Mantis) to fix them. Some parts are the size of a grain of salt. I repair the boards that don't pass test.
Anyway,
Google "EV battery fire" without the quotes. Go to "Images"
I see Tesla is attempting to subdue the fear of these things along with the climate doomsday crowd. That includes mainstream media. They are trying to force substitution of a primary energy source with a secondary source by eliminating the primary.
Makes sense.
In the meantime the cost of everything goes up. Then to top it off the left wants to raise the corporate tax from 21% to 28% to punish the rich, greedy CEOs. That means the extra cost will be passed along to the consumer and/or businesses will move out of the country negatively impacting the labor force.
I hear,"Well, those businesses only want to satisfy their greedy shareholders."
Anyone have a 401K or other retirement plan?
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There, fixed it. The part they are omitting from the story is how the government giving out 'free' money isn't really free after all, because it robs the rest of us through higher prices and reduces our standard of living.
Basic economics 101. There is no free money. And the $15 per hour minimum wage is a fantasy.
When the government doles out so called free money, demand goes up. Therefore prices go up (called inflation). Therefore the free money doesn't buy as much as one might think it would.
Increasing the minimum wage decreases the value of a dollar. Therefore a minimum wage of $15 per hour or even $25 per hour is a wash. Because it will not buy anything. Milk that used to cost $4 now costs $8. Cigarettes that used to be $10 a pack are now $20 a pack.
When money floods any economy, the value of the money necessarily decreases because it is everywhere and easily available. Scarcity creates value. With money falling from the sky, there is no scarcity and therefore there is no value.
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@catfish1957 @Potluck
Potluck, did you mean Printed Circuit Boards or PolyChlorinated Biphenyls?
Yeah!
Lol. Just now caught that. Ok, I’m a bit slow
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Grocery prices are already higher, especially for meats. $4.72/lb and $5.11/lb are obscene prices for bacon. My baseline is $2.50/lb - $3.00/lb for pork prducts.
The Green New Deal non$en$e is unnece$ary, expen$ive, and regre$$ive.
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Printed Circuit Boards
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Grocery prices are already higher, especially for meats. $4.72/lb and $5.11/lb are obscene prices for bacon. My baseline is $2.50/lb - $3.00/lb for pork prducts.
The Green New Deal non$en$e is unnece$ary, expen$ive, and regre$$ive.
Higher prices should help the poor. And I thought the left was a compassionate group.
Oh wait. Free food, free housing, free college tuition and free healthcare.
Ummm. The government does not make money. It takes it. From who? The taxpayer. Sooooo .... jack up the taxes to pay for the free stuff. Why work?
Ok. The left needs government dependent people. And as many “victims†of everything they can find. Control. Power. Victimization means it’s not the victim’s fault they are where they are. It’s somebody else’s. Enter “systemic racismâ€. The new kid on the block created by the left.
Problem is victimization degrades one’s motivation, perceived self-worth and esteem. Helps a lot huh?
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Higher prices should help the poor. And I thought the left was a compassionate group.
Oh wait. Free food, free housing, free college tuition and free healthcare.
Ummm. The government does not make money. It takes it. From who? The taxpayer. Sooooo .... jack up the taxes to pay for the free stuff. Why work?
Ok. The left needs government dependent people. And as many “victims†of everything they can find. Control. Power. Victimization means it’s not the victim’s fault they are where they are. It’s somebody else’s. Enter “systemic racismâ€. The new kid on the block created by the left.
Problem is victimization degrades one’s motivation, perceived self-worth and esteem. Helps a lot huh?
That is yet another consequence of so called 'free money'. And we can see it happening right now today. Employers cannot find people willing to work because the government is paying them more to stay home than they would make at a job. And it is only getting worse by the month as the benefits continue to increase.
Liberals say we need illegals to do jobs Americans will not do. OK? sort of. But then Liberals give them massive welfare, food stamps, free housing, free healthcare, and whatever else they need for free. How do Liberals expect illegals to fill the gaps in employment when Liberals give them everything they need to live for free? Why work? Especially since many government 'free stuff' welfare programs will kick you out once you get a job.
Of course, this is not economically sustainable. But, most politicians have the IQ of a 15 year old child so they are unable to comprehend the long term consequences of what they do.
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That is yet another consequence of so called 'free money'. And we can see it happening right now today. Employers cannot find people willing to work because the government is paying them more to stay home than they would make at a job. And it is only getting worse by the month as the benefits continue to increase.
Liberals say we need illegals to do jobs Americans will not do. OK? sort of. But then Liberals give them massive welfare, food stamps, free housing, free healthcare, and whatever else they need for free. How do Liberals expect illegals to fill the gaps in employment when Liberals give them everything they need to live for free? Why work? Especially since many government 'free stuff' welfare programs will kick you out once you get a job.
Of course, this is not economically sustainable. But, most politicians have the IQ of a 15 year old child so they are unable to comprehend the long term consequences of what they do.
Man o man do the illegals love the free, to them, stuff but unlike American socialist taught young it doesn't keep them from working, what it means is that they can send more cash home removing it from the American economy.
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Higher prices should help the poor. And I thought the left was a compassionate group.
Oh wait. Free food, free housing, free college tuition and free healthcare.
Ummm. The government does not make money. It takes it. From who? The taxpayer. Sooooo .... jack up the taxes to pay for the free stuff. Why work?
Ok. The left needs government dependent people. And as many “victims†of everything they can find. Control. Power. Victimization means it’s not the victim’s fault they are where they are. It’s somebody else’s. Enter “systemic racismâ€. The new kid on the block created by the left.
Problem is victimization degrades one’s motivation, perceived self-worth and esteem. Helps a lot huh?
:yowsa:
BTW welcome to the forum @Potluck !!
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catfish observed:
"I've read that EV batteries in a vehicular fire can reach 5000 degrees F. There will be countless deaths in EV's for this reason that likely were survivable wreck with an internal combustion engine. If their was any integrity in the NTSB, this fact would be more widespread"
Indeed.
Just look at pics of the "remains" of that Tesla that crashed a few days ago -- next to nothing left of it.
I'm thinking that in the future, severe crashes involving electric cars -- particularly where BOTH vehicles are electric-powered -- are going to be less "survivable" than similar crashes between gasoline-powered vehicles.
Ever go to YouTube, then type in "lithium battery explosion" in the search box?
But no matter... "it's for the good of the planet" !
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Blame the pandemic if you like, but higher energy and transportation costs cannot be ignored.
You nailed it. Period.
Fuel (87 octane gasoline, up to 10% ETOH), here from 1.79/Gallon to 2.69/gallon.
Increase fuel costs by 50+%, transport costs will go up, too, and it all gets billed through to the customer.