I'm surprised there's not an inflation thread yet
POSTED BY: 6IXSTRINGJACK
UPDATED: Thursday, June 11, 2026 17:04
VIEWED: 37356
PAGE 39 of 84
CNN Business: First on CNN: 71% of workers say their pay isn’t keeping up with inflation
There is growing evidence that Americans are struggling to keep up with crushing inflation.
https://www.cnn.com/2022/09/27/economy/economy-inflation-savings/index
.html
FOX Business: Winter is coming: Families have to brace for a large heating bill — again
The average cost to heat a home this winter will increase by 17.2% since last winter, according to the National Energy Assistance Directors Association
https://www.foxbusiness.com/lifestyle/winter-coming-families-brace-lar
ge-heating-bill-again
CNN Business: Forget a soft landing. The market’s best hope is a ‘growth’ recession
https://www.cnn.com/2022/09/26/investing/premarket-stocks-trading/inde
x.html
A soft landing? First you fucks told us there was no inflation. Then you told us it was transitory. Then you said that it wasn't as bad as it looked. Then you told us we'd get a soft landing.
If the country and media wasn't run by such partisan shills and you admitted up front there was a problem, steps could have been taken earlier to prevent where we're at now, let alone whatever mountain range we're about to crash into, most of us without parachutes.
The Democrat Party along with the entire media deserves to die.
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Falsus in unum, falsus in omnibus
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CEO Says He’s Been “Praying for Inflation” Because It’s an Excuse to Jack Up Prices
by Jon Schwarz, Ken Klippenstein
The CEO of Iron Mountain Inc. told Wall Street analysts at a September 20 investor event that the high levels of inflation of the past several years had helped the company increase its margins — and that for that reason he had long been “doing my inflation dance praying for inflation.”
The comment is an unusually candid admission of a dirty secret in the business world: corporations use inflation as a pretext to hike prices. “Corporations are using those increasing costs – of materials, components and labor – as excuses to increase their prices even higher, resulting in bigger profits,” Robert Reich, former Labor Secretary under Clinton, recently argued. Corporate profits are now at their highest level since 1950.
Iron Mountain is a data storage and management company based in Boston with a current market capitalization of $12 billion. According to its website, over 95 percent of the Fortune 1,000 are Iron Mountain customers. The company’s founder originally bought its first site, an exhausted iron mine, to grow mushrooms.
It wasn’t a one-off comment by the Iron Mountain CEO, William Meaney. On a 2018 earnings call, he invoked a Native American ritual, telling participants that “it’s kind of like a rain dance, I pray for inflation every day I come to work because … our top line is really driven by inflation. … Every point of inflation expands our margins.”
Iron Mountain’s CFO Barry A. Hytinen also said on an earnings call this past April that “we do have very strong pricing power” and for the company, inflation is “actually a net positive.”
At the September 20 investor event, Meaney explained that “where we’ve had inflation running at fairly rapid rates … we’re able to price ahead of inflation” — that is, increase its prices at a greater rate than the high recent rates of inflation. As Meaney put it, raising prices “obviously covers our increased costs, but … a lot of that flows down to the bottom line.” He also noted that this didn’t just apply to his company: “People are seeing what FedEx, UPS, and others are having to do to actually manage their business and pass on that inflation.”
Later in the event, in response to a question from a JPMorgan Chase analyst, Meaney explained that the company had “been getting north of 200 basis points of price increase” — i.e., 2 percent — in the low inflation environment of the mid-2010s. But, he added, he had then hoped for inflation because “pricing for us is actually slightly accretive on the margin” with higher inflation.
Interestingly, both Meaney and Hytinen expressed momentary regret that what was good for Iron Mountain might be bad for everyone in general. “I wish I didn’t do such a good dance,” Meaney said last week, “but that’s more on a personal basis than on a business model.”
Hytinen told earnings call participants that “we feel for folks” regarding inflation, but “we have a high gross margin business, so it naturally expands the margins of the business.”
The remarks of the Iron Mountain executives go straight to the question of who in the U.S. will pay to bring down the current high rates of inflation. Jerome Powell, the chair of the Federal Reserve, said straightforwardly in May that his goal was “to get wages down and then get inflation down.” In other words, Powell wants regular workers to make less money, which would lower labor costs for businesses, which presumably then would not raise prices as much as they have over the past several years.
The degree to which corporate profits have contributed to prices going up, and what to do about it, has been discussed by some Democrats in Congress and the Biden administration. Last year, President Joe Biden accused oil and gas companies of “anti-consumer behavior,” citing the fact that the two largest companies “are on track to nearly double their net income over 2019.” In May, Democrats introduced legislation to prohibit price gouging by authorizing the Feder
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Gasolina ne back up over $5.49 gal here in SoCal. More, if you're in d-town.
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Pity would be no more,
If we did not MAKE someone poor - William Blake
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Back over $4.10 by me after it was down to nearly $3.60.
Not good timing for idiot Democrats, huh?
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Falsus in unum, falsus in omnibus
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Quote:You could buy a tanker truck full, or an entire ship full, of gasoline in Houston at $2.00/gal and resell it in California at a tremendous profit, but gasoline refineries know that arbitrage is a foreign concept to consumers, which is why refineries can make windfall profits in states where consumers have far more money than they have understanding about who sets prices that refineries charge for the same product.
Originally posted by SIGNYM:
Gasolina ne back up over $5.49 gal here in SoCal. More, if you're in d-town.
-----------
Pity would be no more,
If we did not MAKE someone poor - William Blake
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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Quote:
Originally posted by SECOND:Quote:You could buy a tanker truck full, or an entire ship full, of gasoline in Houston at $2.00/gal and resell it in California at a tremendous profit, but gasoline refineries know that arbitrage is a foreign concept to consumers, which is why refineries can make windfall profits in states where consumers have far more money than they have understanding about who sets prices that refineries charge for the same product.
Originally posted by SIGNYM:
Gasolina ne back up over $5.49 gal here in SoCal. More, if you're in d-town.
-----------
Pity would be no more,
If we did not MAKE someone poor - William Blake
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
Yeah. Heard it before. 500 times from you.
Tough titty for you and for Democrats that not a single fucking voter knows what the fuck you're talking about either, so the Democratic Party is fuckin' done dude.
OPPS!
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Falsus in unum, falsus in omnibus
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Quote:You remind me of Chris Pine, bank robber, at the end of Hell or High Water giving a speech to Jeff Bridges, Texas Ranger. "My family has always been poor, therefore America owes me what I stole." Bridges is amused and could have given a speech that young man Pine and his family will be poor, again, because old man Bridges has got a feeling from long experience.
Originally posted by 6IXSTRINGJACK:
Yeah. Heard it before. 500 times from you.
Tough titty for you and for Democrats that not a single fucking voter knows what the fuck you're talking about either, so the Democratic Party is fuckin' done dude.
OPPS!
https://www.imdb.com/title/tt2582782/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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Quote:
Originally posted by SECOND:Quote:You remind me of Chris Pine, bank robber, at the end of Hell or High Water giving a speech to Jeff Bridges, Texas Ranger. "My family has always been poor, therefore America owes me what I stole." Bridges is amused and could have given a speech that young man Pine and his family will be poor, again, because old man Bridges has got a feeling from long experience.
Originally posted by 6IXSTRINGJACK:
Yeah. Heard it before. 500 times from you.
Tough titty for you and for Democrats that not a single fucking voter knows what the fuck you're talking about either, so the Democratic Party is fuckin' done dude.
OPPS!
No. That would be the Democrats that release everyone without bail and have turned all of the big cities into Mad Max Beyond the Thunderdome that have that attitude.
I spent all 4 years while Trump was President improving my life and my situation.
I've been spending the 2 years that Joe* cheated his way in office doing more of the same.
All you've done in 6 years is lie about everything and talk about Trump.
Have a nice day jerking off. Doesn't it get boring?
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Falsus in unum, falsus in omnibus
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Quote:Yanno, that's exactly what SIX DOESN'T do: feel entitled and whinge for a handout. That would be BLM and all the other splinter groups you feel "sorry" for.
Originally posted by SECOND:Quote:You remind me of Chris Pine, bank robber, at the end of Hell or High Water giving a speech to Jeff Bridges, Texas Ranger. "My family has always been poor, therefore America owes me what I stole." Bridges is amused and could have given a speech that young man Pine and his family will be poor, again, because old man Bridges has got a feeling from long experience.
Originally posted by 6IXSTRINGJACK:
Yeah. Heard it before. 500 times from you.
Tough titty for you and for Democrats that not a single fucking voter knows what the fuck you're talking about either, so the Democratic Party is fuckin' done dude.
OPPS!
https://www.imdb.com/title/tt2582782/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
Your lies: so transparent.
-----------
Pity would be no more,
If we did not MAKE someone poor - William Blake
NOTIFY: Y | REPLY | REPLY WITH QUOTE | PERMALINK | TOP | HOME
Quote:You never saw the movie Hell or High Water, did you? Chris Pine is like every piece of angry poor white trash I know in Texas, except Chris Pine didn't vote for Trump because the movie was made before Trump's run for President. Chris Pine knew, with absolute certainty based on vast ignorance, how he was going to handle the unfairness of the banking system before there was a Trump to look after the little man. Too bad that Chris Pine's brother screwed up the plan by shooting when he shouldn't. There are ways to handle these kind of banking problems Chris Pine faced without expecting the politicians to come to your rescue, but Chris Pine's character, although smart, articulate, and energetic, is not the kind of guy to listen to advice about how the oil business actually works. 6ix is not the kind to listen and learn, either. Guys like Texas Ranger Jeff Bridges know what to do: kill the trigger happy brother and, for Chris Pine who is the brains of the series of bank robberies, get a confession that will put Chris Pine in jail where he belongs. The movie didn't show it, but Jeff Bridges was wearing a wire when Chris Pine explained his motives for robbing banks. It is left to your imagination to discover why Jeff Bridges had a dangerous interview with an armed robber. Bridges was gathering evidence, playing a hunch that Chris Pine was smart enough to not kill a Texas Ranger on Pine's front porch, but dumb enough to explain the crimes to a lawman.
Originally posted by SIGNYM:Quote:Yanno, that's exactly what SIX DOESN'T do: feel entitled and whinge for a handout. That would be BLM and all the other splinter groups you feel "sorry" for.
Originally posted by SECOND:Quote:You remind me of Chris Pine, bank robber, at the end of Hell or High Water giving a speech to Jeff Bridges, Texas Ranger. "My family has always been poor, therefore America owes me what I stole." Bridges is amused and could have given a speech that young man Pine and his family will be poor, again, because old man Bridges has got a feeling from long experience.
Originally posted by 6IXSTRINGJACK:
Yeah. Heard it before. 500 times from you.
Tough titty for you and for Democrats that not a single fucking voter knows what the fuck you're talking about either, so the Democratic Party is fuckin' done dude.
OPPS!
https://www.imdb.com/title/tt2582782/
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
Your lies: so transparent.
-----------
Pity would be no more,
If we did not MAKE someone poor - William Blake
The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two
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