Jerome Powell: 15% home price increases, lumber up 400% and import rates up 300% "soft inflation" (cost, ratings)
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The amount of commodities, import cost and housing inflation makes the late 1970s look miniscule in comparison.
Commodities prices are skyrocketing. Housing prices in much of the country are basically like the tulip-mania. Trucking prices skyrocketing. Import costs skyrocketing.
Will be interesting when they have one stimulus after another and there there is much more pressure to import and much more commodities inflation.
The fortune that Biden, Harris, Yellen and Federal Reserve want to send to poor large families will mean tremendous inflation for everyone else.
I just paid $7.25 for an 8' 2 x 4 today that was $3 a year ago. That was for the crappy stud grade hemlock. The better stuff was over $8. I was stunned, but what can you do?
The Carter Presidency. That's what it's starting to look like in more ways than one.
That is EXACTLY what the "Biden Presidency" is looking like.
For all of those who did not have the pleasure of experiencing all the misery and despair of the Carter administration, they will be able to live that now under Biden.
Yea, last week was pricing out for a little project, rebuilding my generator shed, and the wood prices are crazy. I saw this one 2'x4' pressure treated board was over double what I paid for it just last summer.
Read these articles or any others online they all basically say the same thing, reduced production in 2020 due to low demand over Covid. High tariffs on Canadian products and a new boom in construction has pushed the price up. But I guess an increase in construction is a bad thing because now everyone with a spring project they want to do have to pay more.
That's funny, our fencing contractor was talking about the price increase for materials (in this case pressure treated pine) and the general shortage of lumber way back before the election.
Biden is so powerful he was impacting the market before he even won! Man, that's impressive.
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