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When the grocery corporate world is panic hoarding because of the Biden induced super inflation cycle about to hit, you know things are about to get bad.
Most got rid of their "back room stock" when they went to JIT.
That's one reason you see empty shelves for days on end. They don't have anything in that backroom anymore.
And we all saw how easy it goes from JIT (Just in Time) to NIT (Not in time) with toilet paper.
Reportedly, consumer demand is up 15% from 2 years ago and 0.5% from a year ago.
Gas and transportation costs are up.
Heavy Midwest crop damage is a contributing factor, too.
As for those who blame Biden for the price at the pump……
The Covid pandemic reduced global demand last year and the price of crude/ barrel declined to near record lows in April, 2020. Unless one believes Trump created the global pandemic…….
Refineries in the US substantially cut production and laid off employees. In the meantime, Saudi and Russia got into a price war and despite lack of global demand, the Saudi’s kept on pumping. They resolved their differences.
There tends to be some confusion about US energy independence. Being a net exporter is not energy independence. With the exception of a few gulf states, most of the US continues to rely on imports.
The Keystone has zero impact on the price at the pump. Cars don’t run on tar sands.
Thus far, the FRB does not seem particularly concerned about inflation and instead views it as temporary.
Most got rid of their "back room stock" when they went to JIT.
That's one reason you see empty shelves for days on end. They don't have anything in that backroom anymore.
And we all saw how easy it goes from JIT (Just in Time) to NIT (Not in time) with toilet paper.
As a former Logistics professional, that is precisely what we've had going on, but now, they are over-correcting due to inflation. Toyota stockpiled chips, and it paid off for them. Grocers saw that, and are trying to follow the same strategy.
If you have nothing to sell, sales tend to decline. Better to increase inventory carrying costs, in times like these. I think we'll see warehouse lease costs rise on higher demand.
We're suddenly worried about economic stimulus and loose monetary policy after four years of not giving a damn about it.
Who said that?
I was concerned when Bush wasted money and lives on war.
I was concerned when Obama increased the deficit more than all previous presidents COMBINED!
I was concerned when Trump spent too much money on things that were not absolutely necessary.
And now I'm concerned about the outrageous amount of money Biden has and plans on spending after we already spent trillions to bring back the economy from Covid.
When does enough become enough, never mind too much?
Things are about to get real folks. Elections have consequences and this last one is about to bring massive shortages and Venezuela style inflation.
Bookmarked. We'll revisit later and you can explain to the forum why your fear-mongering didn't pan out.
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