I was saying this back during the "supply chain" ruse. When the supply chain was flowing again prices still got raised. Hell Toyota right now is making less cars and charging more as all car dealers are.
And a few on here thought I was nuts.
mickeyrat
up my ass, like Chadwick was up his Posts: 33,698
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another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
I'm so glad that people are finally realizing and SEEING this as a bunch of bullshit, not all of it, but a good amount.
My sister in law is a huge maga....a few months ago she was going on and on about the price of eggs to me. She couldn't believe that they were charging $1/egg and how awful that was. Turns out she was looking at the Speedway gas station.
A day or so after that conversation I was at our local Meijer and bought an 18 pack of large eggs for like $3.50
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I'm so glad that people are finally realizing and SEEING this as a bunch of bullshit, not all of it, but a good amount.
My sister in law is a huge maga....a few months ago she was going on and on about the price of eggs to me. She couldn't believe that they were charging $1/egg and how awful that was. Turns out she was looking at the Speedway gas station.
A day or so after that conversation I was at our local Meijer and bought an 18 pack of large eggs for like $3.50
Apparently this is what's happening with turkeys. MAGA is buying outrageously priced turkeys (like $90 or more) and "thanking" Biden. Meanwhile, turkeys can still easily be found for like $25.
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The Juggler
Behind that bush over there. Posts: 46,195
I'm so glad that people are finally realizing and SEEING this as a bunch of bullshit, not all of it, but a good amount.
My sister in law is a huge maga....a few months ago she was going on and on about the price of eggs to me. She couldn't believe that they were charging $1/egg and how awful that was. Turns out she was looking at the Speedway gas station.
A day or so after that conversation I was at our local Meijer and bought an 18 pack of large eggs for like $3.50
Morons. Meanwhile you have people like Jason Chaffetz on Fox telling people he paid $90 for a turkey when they're like a $1.50 a pound or something...less than they were a year ago.
FU Brandon! That’s not what I paid for the turkey at the same place as I filled up my truck! Damn you! From Letter From An American:
Falling prices for travel and for the foods usually on a Thanksgiving table are news the White House is celebrating. Gas prices have dropped an average of $1.70 from their peak, airfares are down 13%, and car rental prices are down about 10% over the past year.
According to the American Farm Bureau, the price of an average Thanksgiving dinner has dropped by 4.5%. The cost of turkeys has dropped more than 5% from last year, when an avian flu epidemic meant nearly 58 million birds were slaughtered (this year, growers have lost about 4.6 million birds to the same cause). Whipping cream, cranberries, and pie crust have also dropped in price.
But plenty of grocery prices are still rising, and Senator Bob Casey (D-PA) has taken on the issue, documenting how “corporations are making record profits on the backs of American families.” In a public report, Casey noted that from July 2020 through July 2022, inflation rose by 14%, but corporate profits rose by 75%, five times as fast. A family making $68,000 a year in 2022 paid $6,740 in that period to “corporate executives and wealthy shareholders.” In 2023, that amount will be at least $3,546.
The report notes that the cost for chicken went up 20% in 2021 as Tyson Foods doubled their profits from the first quarter of 2021 to the first quarter of 2022; Tyson has been ordered to pay hundreds of millions of dollars in penalties and restitution for “illegally conspiring to inflate chicken prices.” PepsiCo’s chief financial officer said in April 2023 that even though inflation was dropping, their prices would not. He said “consumers generally look at our products and say ‘you know what—they are worth paying a little bit more for.’”
President Biden has launched a campaign to push back on corporate profiteering, including cracking down on the practice of so-called junk fees—unexpected hidden costs for air travel, car rentals, credit cards, cable television, ticket sales, and so on. (The airline industry collected more than $6.7 billion last year in baggage fees, for example.)
But Tony Romm of the Washington Post explained on Sunday that corporate lobbyists are warring with the Biden administration to stop the crackdown. An airline lobbyist testified at a federal hearing in March that changing the policy would create “confusion and frustration” and that there have been “very few complaints” about the extra costs for bags. The same lobbying group told the Department of Transportation that the government had no data to “demonstrate substantial harm” to passengers. A lobbying group for advertising platforms including Facebook and Google agreed that the Federal Trade Commission had failed to present “sufficient empirical evidence” that junk fees are a problem.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
I'm so glad that people are finally realizing and SEEING this as a bunch of bullshit, not all of it, but a good amount.
My sister in law is a huge maga....a few months ago she was going on and on about the price of eggs to me. She couldn't believe that they were charging $1/egg and how awful that was. Turns out she was looking at the Speedway gas station.
A day or so after that conversation I was at our local Meijer and bought an 18 pack of large eggs for like $3.50
Morons. Meanwhile you have people like Jason Chaffetz on Fox telling people he paid $90 for a turkey when they're like a $1.50 a pound or something...less than they were a year ago.
The Outrage Spin Machine never ends over there.
If u buy a fresh, free range I can see that butyou can get a free turkey for spending x amount at your local supermarket.
I'm so glad that people are finally realizing and SEEING this as a bunch of bullshit, not all of it, but a good amount.
My sister in law is a huge maga....a few months ago she was going on and on about the price of eggs to me. She couldn't believe that they were charging $1/egg and how awful that was. Turns out she was looking at the Speedway gas station.
A day or so after that conversation I was at our local Meijer and bought an 18 pack of large eggs for like $3.50
lol was she looking at the hardboiled single eggs?
FU Brandon! That’s not what I paid for the turkey at the same place as I filled up my truck! Damn you! From Letter From An American:
Falling prices for travel and for the foods usually on a Thanksgiving table are news the White House is celebrating. Gas prices have dropped an average of $1.70 from their peak, airfares are down 13%, and car rental prices are down about 10% over the past year.
According to the American Farm Bureau, the price of an average Thanksgiving dinner has dropped by 4.5%. The cost of turkeys has dropped more than 5% from last year, when an avian flu epidemic meant nearly 58 million birds were slaughtered (this year, growers have lost about 4.6 million birds to the same cause). Whipping cream, cranberries, and pie crust have also dropped in price.
But plenty of grocery prices are still rising, and Senator Bob Casey (D-PA) has taken on the issue, documenting how “corporations are making record profits on the backs of American families.” In a public report, Casey noted that from July 2020 through July 2022, inflation rose by 14%, but corporate profits rose by 75%, five times as fast. A family making $68,000 a year in 2022 paid $6,740 in that period to “corporate executives and wealthy shareholders.” In 2023, that amount will be at least $3,546.
The report notes that the cost for chicken went up 20% in 2021 as Tyson Foods doubled their profits from the first quarter of 2021 to the first quarter of 2022; Tyson has been ordered to pay hundreds of millions of dollars in penalties and restitution for “illegally conspiring to inflate chicken prices.” PepsiCo’s chief financial officer said in April 2023 that even though inflation was dropping, their prices would not. He said “consumers generally look at our products and say ‘you know what—they are worth paying a little bit more for.’”
President Biden has launched a campaign to push back on corporate profiteering, including cracking down on the practice of so-called junk fees—unexpected hidden costs for air travel, car rentals, credit cards, cable television, ticket sales, and so on. (The airline industry collected more than $6.7 billion last year in baggage fees, for example.)
But Tony Romm of the Washington Post explained on Sunday that corporate lobbyists are warring with the Biden administration to stop the crackdown. An airline lobbyist testified at a federal hearing in March that changing the policy would create “confusion and frustration” and that there have been “very few complaints” about the extra costs for bags. The same lobbying group told the Department of Transportation that the government had no data to “demonstrate substantial harm” to passengers. A lobbying group for advertising platforms including Facebook and Google agreed that the Federal Trade Commission had failed to present “sufficient empirical evidence” that junk fees are a problem.
Our local news station earlier in the month said there "might be a turkey shortage". I actually yelled at the tv. It was all a bunch of horseshit.
mickeyrat
up my ass, like Chadwick was up his Posts: 33,698
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
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WATCH NOW
VIDEO05:36
Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday.
The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on a year-over-year basis, the Commerce Department reported. Both numbers aligned with the Dow Jones consensus.
Headline inflation was flat on the month and at a 3% rate for the 12-month period, the release also showed. Energy prices fell 2.6% on the month, helping keep overall inflation in check, even as food prices increased 0.2%.
Goods prices saw a 0.3% decrease while services rose 0.2%. On the services side, the biggest gainers were international travel, health care and food services and accommodations. In goods, gasoline led the gainers.
Personal income and spending both rose 0.2% on the month, also meeting estimates and indicating that consumers are keeping pace with inflation.
While the public more closely watches the Labor Department’s consumer price index as an inflation measure, the Fed prefers the core PCE reading. The former measure primarily looks at what goods and services cost, while the latter focuses on what people actually spend, adjusting for consumer behavior when prices fluctuate.
In other economic news Thursday, initial weekly jobless claims rose to 218,000, an increase of 7,000 from the previous period though slightly below the 220,000 estimate. However, continuing claims, which run a week behind, surged to 1.93 million, an increase of 86,000 and the highest level since Nov. 27, 2021, the Labor Department said.
“The Fed is on hold for now but their pivot to rate cuts is getting closer,” said Bill Adams, chief economist at Comerica Bank. “Inflation is clearly slowing, and the job market is softening faster than expected.”
Markets already had been pricing in the likelihood that the Fed is done raising interest rates this cycle, and the PCE reading, along with signs of a loosening labor market, could solidify that stance. Along with the anticipation that the rate hikes are over, markets also are pricing in the equivalent of five quarter percentage point rate cuts in 2024.
New York Fed President John Williams said Thursday that he expects inflation to continue to drift lower, finally hitting the Fed’s 2% target in 2025. However, he said policymakers will need to stay vigilant and keep rates at a “restrictive” level.
“My assessment is that we are at, or near, the peak level of the target range of the federal funds rate,” he said in prepared remarks for a speech in New York. “I expect it will be appropriate to maintain a restrictive stance for quite some me to fully restore balance and to bring inflation back to our 2 percent longer-run goal on a sustained basis.”
The fed funds rate, the central bank’s benchmark level for short-term lending, is targeted in a range between 5.25%-5.5%, its highest in more than 22 years. After implementing 11 hikes since March 2022, the Fed skipped its last two meetings, and most policymakers of late have been indicating that they are content now to watch the impact of the previous increases work their way through the economy.
Other economic signals lately have shown the economy to be in fairly good shape, though several Fed officials recently have said the data doesn’t square with comments they are hearing on the ground.
“I’m hearing consumers slowing down,” Richmond Fed President Thomas Barkin said Wednesday at the CNBC CFO Council Summit. “I’m not hearing [the] consumer falling off the table. I’m hearing normalizing, not recession, but I am hearing consumer slowing down.”
The Fed’s inflation report comes the same day as encouraging news from the euro zone.
Headline inflation there fell to 2.4% on a 12-month basis, though core, which excludes food, energy and tobacco, was still at 3.6%. Like the Fed, the European Central Bank targets 2% as a healthy inflation level.
Comments
And a few on here thought I was nuts.
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
There are no kings inside the gates of eden
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
A day or so after that conversation I was at our local Meijer and bought an 18 pack of large eggs for like $3.50
1998: Noblesville; 2003: Noblesville; 2009: EV Nashville, Chicago, Chicago
2010: St Louis, Columbus, Noblesville; 2011: EV Chicago, East Troy, East Troy
2013: London ON, Chicago; 2014: Cincy, St Louis, Moline (NO CODE)
2016: Lexington, Wrigley #1; 2018: Wrigley, Wrigley, Boston, Boston
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The Outrage Spin Machine never ends over there.
Falling prices for travel and for the foods usually on a Thanksgiving table are news the White House is celebrating. Gas prices have dropped an average of $1.70 from their peak, airfares are down 13%, and car rental prices are down about 10% over the past year.
According to the American Farm Bureau, the price of an average Thanksgiving dinner has dropped by 4.5%. The cost of turkeys has dropped more than 5% from last year, when an avian flu epidemic meant nearly 58 million birds were slaughtered (this year, growers have lost about 4.6 million birds to the same cause). Whipping cream, cranberries, and pie crust have also dropped in price.
But plenty of grocery prices are still rising, and Senator Bob Casey (D-PA) has taken on the issue, documenting how “corporations are making record profits on the backs of American families.” In a public report, Casey noted that from July 2020 through July 2022, inflation rose by 14%, but corporate profits rose by 75%, five times as fast. A family making $68,000 a year in 2022 paid $6,740 in that period to “corporate executives and wealthy shareholders.” In 2023, that amount will be at least $3,546.
The report notes that the cost for chicken went up 20% in 2021 as Tyson Foods doubled their profits from the first quarter of 2021 to the first quarter of 2022; Tyson has been ordered to pay hundreds of millions of dollars in penalties and restitution for “illegally conspiring to inflate chicken prices.” PepsiCo’s chief financial officer said in April 2023 that even though inflation was dropping, their prices would not. He said “consumers generally look at our products and say ‘you know what—they are worth paying a little bit more for.’”
President Biden has launched a campaign to push back on corporate profiteering, including cracking down on the practice of so-called junk fees—unexpected hidden costs for air travel, car rentals, credit cards, cable television, ticket sales, and so on. (The airline industry collected more than $6.7 billion last year in baggage fees, for example.)
But Tony Romm of the Washington Post explained on Sunday that corporate lobbyists are warring with the Biden administration to stop the crackdown. An airline lobbyist testified at a federal hearing in March that changing the policy would create “confusion and frustration” and that there have been “very few complaints” about the extra costs for bags. The same lobbying group told the Department of Transportation that the government had no data to “demonstrate substantial harm” to passengers. A lobbying group for advertising platforms including Facebook and Google agreed that the Federal Trade Commission had failed to present “sufficient empirical evidence” that junk fees are a problem.
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Brilliantati©
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Libtardaplorable©. And proud of it.
Brilliantati©
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Not today Sir, Probably not tomorrow.............................................. bayfront arena st. pete '94
you're finally here and I'm a mess................................................... nationwide arena columbus '10
memories like fingerprints are slowly raising.................................... first niagara center buffalo '13
another man ..... moved by sleight of hand...................................... joe louis arena detroit '14
Libtardaplorable©. And proud of it.
Brilliantati©
So. About the rates.
Public sector is heating up whereas Private is not. This is for construction right now. That is a good barometer for how rates will be for a bit.
https://www.cnbc.com/2023/11/30/pce-inflation-report-october-2023-.html
Fed’s favorite gauge shows inflation rose 0.2% in October and 3.5% from a year ago, as expected
Inflation as measured by personal spending increased in line with expectations in October, possibly giving the Federal Reserve more incentive to hold rates steady and perhaps start cutting in 2024, according to a data release Thursday.
The personal consumption expenditures price index, excluding food and energy prices, rose 0.2% for the month and 3.5% on a year-over-year basis, the Commerce Department reported. Both numbers aligned with the Dow Jones consensus.
Headline inflation was flat on the month and at a 3% rate for the 12-month period, the release also showed. Energy prices fell 2.6% on the month, helping keep overall inflation in check, even as food prices increased 0.2%.
Goods prices saw a 0.3% decrease while services rose 0.2%. On the services side, the biggest gainers were international travel, health care and food services and accommodations. In goods, gasoline led the gainers.
Personal income and spending both rose 0.2% on the month, also meeting estimates and indicating that consumers are keeping pace with inflation.
While the public more closely watches the Labor Department’s consumer price index as an inflation measure, the Fed prefers the core PCE reading. The former measure primarily looks at what goods and services cost, while the latter focuses on what people actually spend, adjusting for consumer behavior when prices fluctuate.
In other economic news Thursday, initial weekly jobless claims rose to 218,000, an increase of 7,000 from the previous period though slightly below the 220,000 estimate. However, continuing claims, which run a week behind, surged to 1.93 million, an increase of 86,000 and the highest level since Nov. 27, 2021, the Labor Department said.
“The Fed is on hold for now but their pivot to rate cuts is getting closer,” said Bill Adams, chief economist at Comerica Bank. “Inflation is clearly slowing, and the job market is softening faster than expected.”
Markets already had been pricing in the likelihood that the Fed is done raising interest rates this cycle, and the PCE reading, along with signs of a loosening labor market, could solidify that stance. Along with the anticipation that the rate hikes are over, markets also are pricing in the equivalent of five quarter percentage point rate cuts in 2024.
New York Fed President John Williams said Thursday that he expects inflation to continue to drift lower, finally hitting the Fed’s 2% target in 2025. However, he said policymakers will need to stay vigilant and keep rates at a “restrictive” level.
“My assessment is that we are at, or near, the peak level of the target range of the federal funds rate,” he said in prepared remarks for a speech in New York. “I expect it will be appropriate to maintain a restrictive stance for quite some me to fully restore balance and to bring inflation back to our 2 percent longer-run goal on a sustained basis.”
The fed funds rate, the central bank’s benchmark level for short-term lending, is targeted in a range between 5.25%-5.5%, its highest in more than 22 years. After implementing 11 hikes since March 2022, the Fed skipped its last two meetings, and most policymakers of late have been indicating that they are content now to watch the impact of the previous increases work their way through the economy.
Other economic signals lately have shown the economy to be in fairly good shape, though several Fed officials recently have said the data doesn’t square with comments they are hearing on the ground.
“I’m hearing consumers slowing down,” Richmond Fed President Thomas Barkin said Wednesday at the CNBC CFO Council Summit. “I’m not hearing [the] consumer falling off the table. I’m hearing normalizing, not recession, but I am hearing consumer slowing down.”
The Fed’s inflation report comes the same day as encouraging news from the euro zone.
Headline inflation there fell to 2.4% on a 12-month basis, though core, which excludes food, energy and tobacco, was still at 3.6%. Like the Fed, the European Central Bank targets 2% as a healthy inflation level.
Don’t miss these stories from CNBC PRO: