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Inflation.......... ?

So, after congress refusing to buy oil when Trump requested it when it was cheap, the current retard that just released a bunch to prop up his falling poll numbers, now wants to buy a bunch at extremely high prices.

www.cnn.com

First on CNN: Biden administration launches plan to refill emergency oil reserve

The Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's emergency oil reserve, an Energy Department official told CNN.
www.cnn.com www.cnn.com
 
NoDopes said:
So, after congress refusing to buy oil when Trump requested it when it was cheap, the current retard that just released a bunch to prop up his falling poll numbers, now wants to buy a bunch at extremely high prices.

www.cnn.com

First on CNN: Biden administration launches plan to refill emergency oil reserve

The Biden administration plans to seek bids this fall to buy 60 million barrels of crude oil as the first step in a years-long process aimed at replenishing America's emergency oil reserve, an Energy Department official told CNN.
www.cnn.com www.cnn.com
Click to expand...
I wonder where he will get the Rubles to pay for it ? :sick:
 
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Hobo Hilton said:
I wonder where he will get the Rubles to pay for it ? :sick:
Click to expand...
E680EF90-7DFA-48C6-8DB0-9A5109442DFE.gif


A few more months of this inflation, and I’ll be able to get my F-250 and Camaro for for prices I find reasonable.
 
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Biden will buy the oil through a third party,, probably Cuba. Cuba will then buy it from Venezuela, Russia, Iran, or some other Hard core dictatorship that the Dems want to keep in power.
 
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Hobo Hilton said:
We aren't even being told "Prices are leveling off".... Discouraging. Reading the local grocery store sales papers while looking for beef to cook.... cheapest cuts, on sale are $6-8 / lb and eggs are $5 / dozen.
Click to expand...
The eggs are a surprise. I assumed it would trickle down to everything eventually, but we had been dehydrating the crap out of eggs and was hoping to beat the deadline so to speak. Easy way to store protein for sure, but now getting more and more costly by the day, I guess it is on to the next thing. Fish and shrimp are still reasonable, so off to those until they get hammered.
 
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www.reuters.com

Shell posts record quarterly profit, lifted by energy price surge

Shell on Thursday reported a record first-quarter profit of $9.13 billion, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.
www.reuters.com www.reuters.com
www.reuters.com

Conoco posts a five-fold profit leap, raises shareholder returns

U.S. oil producer ConocoPhillips on Thursday reported a first-quarter profit that jumped five-fold and exceeded Wall Street estimates on higher energy prices and volumes.
www.reuters.com www.reuters.com
 
I do 6 month reviews with our vendors, have a lot of renewals in this quarter and its not good at all. No good news anywhere. Everyone is getting caught in the squeeze. Inflation is beginning to hammer balance sheets for all sectors and large and small businesses. IT Vendors want three year renewals and are asking for 10-15% increase or more.

Chips are not available or we must supply a 1 year look ahead before they will build. Steel is in short supply or its twice what we'd planned. Subs are all reporting shortages or a cost increase that is very very high.

Firms are bidding up labor to complete projects in the pipeline. Or are shedding workforce. Lots and lots of smaller governments and school boards are going to slash workforce too.

its not going to get better for 18-24 months at least.
 
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Oldloser said:
I do 6 month reviews with our vendors, have a lot of renewals in this quarter and its not good at all. No good news anywhere. Everyone is getting caught in the squeeze. Inflation is beginning to hammer balance sheets for all sectors and large and small businesses. IT Vendors want three year renewals and are asking for 10-15% increase or more.

Chips are not available or we must supply a 1 year look ahead before they will build. Steel is in short supply or its twice what we'd planned. Subs are all reporting shortages or a cost increase that is very very high.

Firms are bidding up labor to complete projects in the pipeline. Or are shedding workforce. Lots and lots of smaller governments and school boards are going to slash workforce too.

its not going to get better for 18-24 months at least.
Click to expand...
We are in agreement.... I can lump it all together and call it "Deja Vu". Sounds like you have survived a few recessions yourself. I feel this will be the longest recession of my life time due to it being Worldwide and not confined just to America. The USA can't pull every other country out of the ditch. If we try, there will be no one to pull America out of the ditch. The $$$ printing presses need to be shut down for 6 months and allow people to come to their senses...

The businesses like yours will soon shift to "Time and Material" + Profit..... Those that don't will go down the tube. Time for every American to take care of # 1.....
 
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Bigfatcock said:
I just don’t see any of today’s prices on anything being sustainable much longer.
Click to expand...
The issue is that they will sustain. But your wallet wont. There are simply too many variables surrounding the supply and demand curves that are causing the intersection of them to be much higher - exogenous factors such as monetary inflation and reduced production due to war, etc mixed with increasing demand (mouths to feed from immigration, etc) are causing a more fierce competition for those resources. The winner is the one who will put down the dollars. Those who are not willing have to either find an alternative or do without. This is the macroeconomic side that everyone sees and intuitively takes part in by choosing where their dollars go.

It could be argued that to some degree what many are upset about isn't the unavailability of alternatives, but the misalignment of expectations and desire to their economic reality. I'm not suggesting that it isn't real (because it is very real), I am saying that this is simply how it plays out. Everyone is finding it harder to buy what they want and need, but it is the "wants" that can be psychologically disturbing. We know that at least for now they are "wants" because we have not seen bread lines, although there are some that are beginning to suffer in the lower end of the economic ladder.
 
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E. Bryant said:
But seriously, it's going to be fucking hilarious when these people have to go refi their mortgages in five years when David Stockman Part II has jacked rates up into the mid-teens, and oh yeah, their home is also worth only half as much as when they bought it.
Click to expand...
We have seen this play out before. People will buy ARMs thinking one of two things: the price will go up and they can sell or they think that thier current economic situation will be the same AND interest rates will lower or the same. Yes, they can be this ignorant on how it all works. My issue is that the lending institutions are engaging in this. Again.
 
lariat said:
We have seen this play out before. People will buy ARMs thinking one of two things: the price will go up and they can sell or they think that thier current economic situation will be the same AND interest rates will lower or the same. Yes, they can be this ignorant on how it all works. My issue is that the lending institutions are engaging in this. Again.
Click to expand...
Deja Vu
images
 
www.cnbc.com

Diesel fuel is in short supply as prices surge — Here's what that means for inflation

Diesel powers the economy with trains, trucks and tankers all using the fuel. And with prices soaring, consumers are paying more.
www.cnbc.com www.cnbc.com

Kloza said diesel at New York harbor is now trading around $5 per gallon, while jet fuel prices at the harbor, which usually mirrors diesel prices, are around $6.72. That equates to roughly $282 per barrel. “These are numbers that are not just off the charts. They’re off the walls, out of the building, and maybe out of the solar system,” he said. Retail diesel prices are also surging. On Friday the national average for a gallon hit a record of $5.51, according to AAA, after hitting a new high every single day over the last week.
 
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Diesel hit $5.40 before the weekend. But gas is at $4.40, so on a purely relative basis, I'm farther ahead with the oil-burner than I was at the beginning of this stupidity.
 
www.yahoo.com

Decreased immigration is contributing to rising prices and heightened inflation as businesses struggle to find necessary staff amid labor crunch

Immigration rates have dropped significantly in recent years, translating to shortages of workers across several industries, the AP reported.
www.yahoo.com www.yahoo.com

At first I though this was satire, but it’s not. Holy shit, not having illegals to suppress wages causes inflation because…companies have to pay higher wages which is really just passed down to the consume.

I can’t believe they outright said that illegals are great for wage suppression.
 
Bigfatcock said:
www.yahoo.com

Decreased immigration is contributing to rising prices and heightened inflation as businesses struggle to find necessary staff amid labor crunch

Immigration rates have dropped significantly in recent years, translating to shortages of workers across several industries, the AP reported.
www.yahoo.com www.yahoo.com

At first I though this was satire, but it’s not. Holy shit, not having illegals to suppress wages causes inflation because…companies have to pay higher wages which is really just passed down to the consume.

I can’t believe they outright said that illegals are great for wage suppression.
Click to expand...
Written by NICHOLAS RICCARDI
He's attempting to get a lot of people to click on the article so the AP does not fire his ass... Reading his bio he's worked for 8 - 10 news agencies.... A nothing burger.
 
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Hobo Hilton said:
I know CNN.... But their grocery numbers jive with my shopping cart today.

www.cnn.com

Here's what's getting more expensive at the grocery store

Inflation may be slowing just a bit, but food prices are on fire.
www.cnn.com www.cnn.com
Click to expand...

The big deal with this story is that sources like CNN are hammering the administration on this problem. Anytime that the mainstream media is willing to criticize a standing Democrat president - even if mildly and indirectly - it's worth a pause to consider the story's true motivation (which is almost never to simply inform the public). This is especially true leading up to a crucial midterm election.
 
E. Bryant said:
The big deal with this story is that sources like CNN are hammering the administration on this problem. Anytime that the mainstream media is willing to criticize a standing Democrat president - even if mildly and indirectly - it's worth a pause to consider the story's true motivation (which is almost never to simply inform the public). This is especially true leading up to a crucial midterm election.
Click to expand...
We have evolved into a society that must place blame on other's for our misfortunes. Many times in my trade I had to re-work other's sloppy workmanship that had not passed quality control. There was never any doubt who preformed the sub-par work... The reality of the situation was "it is what it is". The sooner I made my move to correct the situation, the sooner the project could move towards a successful completion.

As we start a new day and take stock of our lives, "it is what it is". We can complain until noon and then work to correct the situation or we can start early, deal with it and move on.

Here on the homestead I have deer that will destroy a garden. I'll be working on putting up deer fence or hot wires to keep the deer out of the garden. The deer don't care if I blame them or not. Similar to the politician's in DC.
 
Bigfatcock said:
www.yahoo.com

Why the Fed wants corporate America to have a hiring freeze

Here's what to watch in the markets on Thursday, May 12, 2022.
www.yahoo.com www.yahoo.com


Lol. They want to help stop inflation by paying less. They are outright saying that they need wage suppression so wage slaves are broke as fuck.
Click to expand...

Well, suppressing wages for the past two decades gave the Fed the freedom to print whatever they wanted over that same timespan - so why not run the same playbook? If you don't like that idea, just take whatever post-tax earnings remain and invest in algorithmic stablecoin, just like Grandpa did to supplement his pension.
 
Hobo Hilton said:
I know CNN.... But their grocery numbers jive with my shopping cart today.

www.cnn.com

Here's what's getting more expensive at the grocery store

Inflation may be slowing just a bit, but food prices are on fire.
www.cnn.com www.cnn.com
Click to expand...

I call BS on most of these numbers. I'm not sure where they got their low balled numbers.
For example CNN quotes eggs have risen +22.6%
Well, in my neck of the woods, Sams club, 7.5 dozen in the last year have gone from 10 to 26.00.
now, using common core math.. I guess that's about 22% because CNN said so.
but using real math (end-beg)/beg I come up with 160%. yup went from a little over a dollar a dozen to over almost 4 dollars a dozen.
Edit - don't worry, after prices max out another 400%, CNN will tell you how everything is great since prices have only risen 1% over the previous year
 
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Yup. BS. My Wife and I have a system we have used for many years - decades. It goes like this - when we shop for food (specifically) we put the receipt in a queue and when she has time she inputs the price we paid for our most common/core food items into a spreadsheet. Ground turkey, cottage cheese, pickles, 1/2&1/2, lunchmeat, carrots, cabbage, etc. We can literally track what we have paid for items since the very early '80's with a spreadsheet.

We have been being lied to for decades about "real" inflation and my numbers right now, where I live, are about double the Government numbers. Really reminds me of 1979. Every time we go to the store a can of green beans goes up. And up....the lunch meat I buy has doubled in price since January.

VooDoo
 
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Vodoun daVinci said:
Yup. BS. My Wife and I have a system we have used for many years - decades. It goes like this - when we shop for food (specifically) we put the receipt in a queue and when she has time she inputs the price we paid for our most common/core food items into a spreadsheet. Ground turkey, cottage cheese, pickles, 1/2&1/2, lunchmeat, carrots, cabbage, etc. We can literally track what we have paid for items since the very early '80's with a spreadsheet.

We have been being lied to for decades about "real" inflation and my numbers right now, where I live, are about double the Government numbers. Really reminds me of 1979. Every time we go to the store a can of green beans goes up. And up....the lunch meat I buy has doubled in price since January.

VooDoo
Click to expand...
Don't forget, under Obama, they kept the price point the same on a lot of food, and reduced content size.
 
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They have been doing that all along...the lunchmeat I buy has gone form 16 oz, to 12 oz and now down to 10 oz and the price has increased. Oddly enough, if you watch the Companies marketing this stuff their profits are sky high - even right now. We are being raped by Corporate America under the guise of "inflation"...my brother works for a chain meat processor as a Supervisor/Maintenance Engineer. He gets yearly bonuses based on profit and while the cost of chicken breast has doubled here he is getting huge bonuses for profitability.

The whole World is now being run by Corporate Greed and making massive profits while screaming "Inflation!!" while their Stock is tanking due to panic and they are using the huge profits to buy back their own stock at rock bottom prices. "They" have The Game firmly in control and we (Global Residents) are being fleeced - it's all in The Plan. They *OWN* our "Representation" and have paid them to liquidate US (and everyone else who works for a living) and there ain't Jack. Shit. You or I can do about it. Buy more Ammo?

Fuck that. Buy more Stock in the Abusers Companies. It won't be this cheap again for another 25 years. It's the only Way to survive this - own parts of The Corps that are running the World. They will be the only ones eating here soon.

VooDoo
 
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For years, Jerome has not been able to "guarantee" anything...... Other than his pension growing steadily..
If, by some miracle, inflation was reduced by 2% every month it would take a minimum of 6 months to get inflation down to 2% annually.... I think that next year at this time there will still be facing economic issues. Maybe not inflation itself but perhaps the strength of the USD, interest rates on housing, credit card debt or a host of other challenges. No one is going to wave their magic wand and bring back the good times. The longer all of this drags on, the more it hurts the American citizenry....

www.cnbc.com

Powell says he can't guarantee a 'soft landing' as the Fed looks to control inflation

Federal Reserve Chairman Jerome Powell warned Thursday that getting inflation under control could cause some economic pain but remains his top priority.
www.cnbc.com www.cnbc.com
 
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Walmart rev beats while missing on eps.

4% increase in sales while having lower profit.
 
eca7891 said:
Walmart rev beats while missing on eps.

4% increase in sales while having lower profit.
Click to expand...
WMT is projecting numbers for the future yet don't explain those numbers are basically just inflation. WMT will weather this storm just as they have weathered previous storms. A trader never makes very much with WMT stock. Holding WMT long has not panned out over the past 18 months. I'd expect it to run flat through this recession... Which is better than most will do.
 
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Hobo Hilton said:
WMT is projecting numbers for the future yet don't explain those numbers are basically just inflation. WMT will weather this storm just as they have weathered previous storms. A trader never makes very much with WMT stock. Holding WMT long has not panned out over the past 18 months. I'd expect it to run flat through this recession... Which is better than most will do.
Click to expand...
Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations.
 
babyguppy said:
Shares of Walmart (NYSE: WMT) sank 11.4% on Tuesday after the retail giant's profits fell short of investors' expectations.
Click to expand...
I know where you are comin' from.... There is a phrase that we should all be aware of.. "Investor's expectations"...
These are people in foreign countries, people who never worked hard enough to get calluses on their hands, don't own a gun, can't grow a garden, live in a mega city and eat plant based food... Should I go on ?

If you dropped me and an investor off on a mountain, in a swamp or on the high plains during a snow storm... I'm sure I'd bury him before it came time to make camp for the night.... Why ? No need to carry dead weight.

For you guy's that have followed this topic... All of the signs were there that this recession was going to take hold...

Brace yourselves for more "Heavy Hitter" companies to drop 10% or more in a day.

:);)(n)



 
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