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Final Demands good price inflation was 13 times that of wage growth.
"The indexes for processed energy goods and for processed foods and
feeds climbed 3.4 percent and 2.4 percent, respectively. For the 12 months ended in January, prices
for processed goods for intermediate demand jumped 24.1 percent"
You should feel lucky if you got a raise. If you're a small business owner, this Brandon economy and Brandinflation is downright punishing. While we do get to mark up our prices a little, it's only because our costs have been surging. There's really no meat left to pick off the bone in these crazy times.
wage growth generally follows inflation, but slower. So thats not the big topic you think it is. But concerns about inflation are valid. And.....not unexpected. Bidens administration have called them temporary in the past, but they've even now said these look to be baked in.
For me inflation is good as over time it makes my mortgage a lower % of my income. But for many its not so great, and in the short term its bad for even me. Long term though? Its fine.
Will we see 1980 levels of inflation? Dunno. You're using some cherry picked data there which honestly is not useful. But the overall data shows levels of inflation that are higher then our goal is. Personally Id like to see inflation at 3%, and bounce above and below that, but 2% is our stated goal I think? currently I think we're just below 10% right now, and that may go up or down during the year. Lower then 1980, but weve only had about 4 years that were ever higher.
You should feel lucky if you got a raise. If you're a small business owner, this Brandon economy and Brandinflation is downright punishing. While we do get to mark up our prices a little, it's only because our costs have been surging. There's really no meat left to pick off the bone in these crazy times.
I work in construction industry and the cost of lumber has soared.
I am not in management, but I know the numbers aren't looking good.
Interestingly, the owners daughter who was in a prestigious university wrote a commentary for their paper about President Trump's mean tweets and now daddies lumber and copper costs are skyrocketing and labor costs are skyrocketing also but now matter how much the owner pays for good work, his workers are just creeping into higher tax brackets so they aren't seeing much more.
I am sort of curious what the owners balance sheet will look like in 2022 with $1286 per 1000 board feet lumber compared to less than $300 under President Trump.
The last commodity that's reasonably priced is rubber.
It's not as if prices double, and everyone's salaries doubles in line with the price increases. No, what actually happens if that salaries and wages increase a fraction as much as the general prices.
If you need an example of this, look to Venezuela, where female doctors are prostituting themselves to buy food.
You should feel lucky if you got a raise. If you're a small business owner, this Brandon economy and Brandinflation is downright punishing. While we do get to mark up our prices a little, it's only because our costs have been surging. There's really no meat left to pick off the bone in these crazy times.
IMany though are getting raises but they are creeping from 12% and into 22% federal tax bracket and then many states tax brackets also increase very fast at the same time.
10% wage increase is about 6% after state and federal taxes and then then there inflation of 7.5% which is severely undercounted which means -1.5% wage decrease after taxes and inflation!
We're going to get all the inflation we should have gotten following the 2008 financial crisis, plus the Covid inflation, plus a lot more.
Love how many though who have seen there houses and stock market portfolio's will laugh and claim anyone who questions this inflation is a failure and a loser who should have bought homes in the 1990s or back in 2012.
So many of those nearing retirement age or just beginning their retirement especially go on a keyboard tirade and will claim anyone who questions zero-interest rate policy, money out of thin air or inflation is an unworthy failure, LOL.
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