I'm surprised there's not an inflation thread yet

POSTED BY: 6IXSTRINGJACK
UPDATED: Thursday, June 11, 2026 17:04
VIEWED: 37356
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SECOND

Wednesday, January 11, 2023 4:53 PM

SECOND

Thursday, January 12, 2023 4:04 PM

We are still a few months away from the Fed having any effect on inflation

I suppose it's pointless to keep repeating this since no one ever listens, but can we please stop this nonsense?

Quote:
The Fed May Finally Be Winning the War on Inflation. But at What Cost?

[Neel] Kashkari insists...taming inflation must be the priority. “The sooner we take the medicine,” he says, “the less painful it will be.”

The medicine appears to be working — inflation is moderating, and some economists think that we have seen the worst of it.

The Fed is not winning anything and the patient hasn't been given any medicine yet. Nothing that's happened in the past year is related to Fed activity in any way. I assume that even the hard core forward guidance folks agree that six or seven months is far too short a time for the Fed's interest rate hikes to have affected the economy.

The Fed's war on inflation begins in Summer 2023, when its interest rate hikes and its public statements start to affect inflation. If inflation goes up over the next few months and only then declines in the summer, the Fed will have proven itself farsighted. But if inflation keeps going down and then the economy crashes midway through the year, the Fed will have proven itself about as competent as a Russian general. Wait and see.

https://jabberwocking.com/we-are-still-a-few-months-away-from-the-fed-
having-any-effect-on-inflation/

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

6IXSTRINGJACK

Friday, January 13, 2023 8:47 AM

I just saw a dozen eggs at ALDI for $5.17.

I used to be able to buy 72 eggs at Sam's Club for $7.50 when Trump was President.

Fuck Joe Biden.

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Growing up in a Republic was nice... Shame we couldn't keep it.

6IXSTRINGJACK

Sunday, January 15, 2023 10:58 PM

CNN: Americans are spending an extra $371 a month because of inflation

https://www.cnn.com/2023/01/14/economy/us-consumers-higher-spending-in
flation

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Growing up in a Republic was nice... Shame we couldn't keep it.

SECOND

Monday, January 16, 2023 5:28 PM

Quote:
Originally posted by 6IXSTRINGJACK:
I just saw a dozen eggs at ALDI for $5.17.

I used to be able to buy 72 eggs at Sam's Club for $7.50 when Trump was President.

Fuck Joe Biden.

You are such a deep thinker!

Avian flu outbreak keeps egg supply tight as inflation rises

Updated Jan. 14, 2023 8:37 am ET

Egg prices are soaring as the deadliest avian influenza outbreak on record devastates poultry flocks across the country.

The price of eggs rose 11.1% last month compared with the month before and was up nearly 60% in December from the prior year, according to Thursday’s consumer-price index, a measurement of what consumers pay for goods and services. Overall inflation eased to 6.5%, according to this week’s federal data.

Here’s what you should know.
What are egg prices now?

Egg prices have dropped slightly from record highs last month, but the grocery staple remains more expensive than usual and continues to squeeze consumer budgets.

The price of eggs rose more than any other grocery item in 2022, according to Information Resources Inc. Wholesale prices of Midwest large eggs dropped to $4.18 a dozen this week from a high of $5.46 a dozen in December, according to research firm Urner Barry. In mid-January 2022, wholesale prices of Midwest large eggs were $1.30 a dozen.

Some retailers say egg prices typically drop after December, as demand cools following a surge driven by holiday baking and cooking.

At Piggly Wiggly stores in Alabama and Georgia, egg prices fell about 50 cents a dozen this week to $6.43, the first drop in months, said Keith Milligan, the company’s controller. Prices are likely to stay around the current level until declining further in February or March, he said, when suppliers expect new flocks of laying hens to help provide more supply.

“Retailers will be reluctant to bring prices back to ‘normal’ levels for quite some time,” said Brian Earnest, an animal protein economist at agricultural lender CoBank.

Why are egg prices so high?

Since the start of 2022, highly pathogenic avian influenza has led to the deaths of about 58 million birds. It is the deadliest outbreak of all time and the worst one since 2015, when 50 million birds were culled, according to U.S. Agriculture Department data.

U.S. egg inventories were 29% lower in the final week of December 2022 than at the beginning of 2022, according to the USDA. More than 43 million egg-laying hens had died as a result of the malady by the end of December.

“Lower-than-usual shell egg inventories near the end of the year, combined with increased demand stemming from the holiday baking season, resulted in several successive weeks of record-high egg prices,” USDA economists said in a January research note.

Egg prices have also increased as part of overall food inflation driven by rising costs of labor, ingredients and logistics. Higher feed and transportation costs for producers mean shoppers will continue to face elevated egg prices even when the bird flu’s effects diminish, said CoBank’s Mr. Earnest.
Why is this bird flu outbreak so deadly?

Agriculture industry officials and analysts have attributed the rapid spread of the virus to wild birds carrying it to farms as they migrate. To limit the spread of the virus, whole poultry flocks are killed after an infection is confirmed.

While the 2015 outbreak ended in June of that year, cases in 2022 continued to appear in various parts of the country throughout the fall and winter.

Poultry processors invested in new biosecurity measures and other precautions to mitigate the spread between farms. However, spreading the virus can be as simple as a worker stepping on wild bird fecal matter and forgetting to clean his or her boots before entering a commercial barn—leading to the death of an entire flock.
Is there an egg shortage?

There have been spotty shortages of eggs, but not a widespread one. The American Egg Board, which represents egg producers, has said shortages are rare. According

SECOND

Monday, January 16, 2023 5:29 PM

The pay for workers is just another price, but the people who actually set all prices have decided they do NOT want to pay much more for labor than they have always paid.

Here are average weekly earnings for full-time workers: Since 2000, men's earnings have gone up $2 per year, adjusting for inflation. Since 2019, men's earnings have gone down $1 per year.

Since 2000, women's earnings have gone up $6 per year, adjusting for inflation. Since 2019, women's earnings have gone up $7.50 per year.

NOTE: This is the median for full-time workers and does not include those who don't work or work only part-time. Thus, it doesn't account for the fact that fewer people are working than in 2000. Compared to 2000 levels, about 300,000 more women are working and 2 million fewer men.

https://jabberwocking.com/raw-data-earnings-of-full-time-workers/

Ever wonder how that happened? Canadians can give you hints because what happens in the USA is also happening in Canada. It comes down to the fact that if the rich who are setting prices for everything raise the price they paid for labor, the rich won’t be prospering as much as they deserve, in their opinion:

Billionaire wealth surged in 2022 with rapidly rising food and energy profits. The Oxfam report shows that 95 food and energy corporations have more than doubled their profits in 2022. They made $306 billion in windfall profits, and paid out $257 billion (84 per cent) of that to rich shareholders.

Richest 1% bag nearly twice as much wealth as the rest of the world put together over the past two years

Sun, January 15, 2023 at 6:05 p.m. CST·8 min read

OTTAWA, ON, Jan. 15, 2023 /CNW/ - The richest one per cent grabbed nearly two-thirds of all new wealth created since 2020, worth $42 trillion, almost twice as much money as the bottom 99 per cent of the world's population, according to a new Oxfam report.

"Survival of the Richest" is being released as political and business elites gather at the World Economic Forum in Davos, Switzerland this week. https://www.oxfam.ca/publication/davos-report-2023/ These elites are gathering in the Swiss ski resort as extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years.

In Canada, billionaires have seen their wealth grow by a staggering 51 per cent since the pandemic began. This accelerated a trend that was already driving wealth inequality in Canada over the past decade. For every $100 of wealth created in the last 10 years, $34 has gone to the richest 1 per cent and only $5 to the bottom 50 per cent. This means that the richest 1 per cent have gained nearly seven times more wealth than the bottom 50 per cent in the last 10 years.

"Canadians are making daily sacrifices on essentials like food and utility bills, while the super-rich have outdone even their wildest dreams. Just two years in, this decade is shaping up to be the best yet for billionaires," said Lauren Ravon, Executive Director of Oxfam Canada.

"Taxing the super-rich and big corporations is the door out of today's overlapping crises. It's time we demolish the convenient myth that tax cuts for the richest result in their wealth somehow 'trickling down' to everyone else. Forty years of tax cuts for the super-rich have shown that a rising tide doesn't lift all ships — just the superyachts."

More at https://ca.finance.yahoo.com/news/richest-1-bag-nearly-twice-000500995
.html

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

6IXSTRINGJACK

Monday, January 16, 2023 7:00 PM

Quote:
Originally posted by second:
Quote:
Originally posted by 6IXSTRINGJACK:
I just saw a dozen eggs at ALDI for $5.17.

I used to be able to buy 72 eggs at Sam's Club for $7.50 when Trump was President.

Fuck Joe Biden.
You are such a deep thinker!

It doesn't take a deep thinker when the math is that bad.

Quote:
A bunch of apologist bullshit that Second would be raging against if Trump were President now and the exact same thing was happening

Get fucked.

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Growing up in a Republic was nice... Shame we couldn't keep it.

SECOND

Monday, January 16, 2023 7:35 PM

Quote:
Originally posted by 6IXSTRINGJACK:
Quote:
Originally posted by second:
Quote:
Originally posted by 6IXSTRINGJACK:
I just saw a dozen eggs at ALDI for $5.17.

I used to be able to buy 72 eggs at Sam's Club for $7.50 when Trump was President.

Fuck Joe Biden.
You are such a deep thinker!

It doesn't take a deep thinker when the math is that bad.

Quote:
A bunch of apologist bullshit that Second would be raging against if Trump were President now and the exact same thing was happening

Get fucked.

Bird flu killed off 40 million hens, meaning that 40 million fewer eggs are laid per day, but Americans eat about 400 million eggs per day if you count everything that has eggs in it. The sellers of eggs see a golden opportunity: 10% fewer eggs on the market means they can raise prices by 500%. Did you notice that the President has no control over the price of eggs? Probably you didn't, which is so funny that you can't see what is completely obvious.

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

6IXSTRINGJACK

Monday, January 16, 2023 9:40 PM

Apologist.

Refer to the first post in this thread and compare it to today.

The Biden* administration is the worst that America has ever had.

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Growing up in a Republic was nice... Shame we couldn't keep it.

SECOND

Tuesday, January 17, 2023 6:27 AM

Quote:
Originally posted by 6IXSTRINGJACK:
Apologist.

Refer to the first post in this thread and compare it to today.

The Biden* administration is the worst that America has ever had.

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Growing up in a Republic was nice... Shame we couldn't keep it.

I guessed that Americans ate 365 eggs per year, or an egg per day.
It turns out it is only 286.5 eggs per year.
https://www.statista.com/statistics/183678/per-capita-consumption-of-e
ggs-in-the-us-since-2000/

I also assumed that hens laid 365 eggs per year, or an egg per day.
It turns out it is only 250 eggs per year.
https://www.purinamills.com/chicken-feed/education/detail/how-long-do-
chickens-lay-eggs-goals-for-laying-hens

The results are still about the same.

40,000,000 dead chickens not laying eggs because dead chickens don't lay eggs. A small decrease in the supply of eggs caused a 500% increase in egg prices, but that wasn't because hens were paid 500% more per egg. It was because egg sellers saw an opportunity to gouge their customers. It is a great time to be in the egg selling business. And when the prices drop several dollars per dozen eggs because people stop buying since the sellers got too greedy, the egg sellers will miss these wonderful times when buyers were so stupid and gullible.

6ix, if you think Biden has a few billion fresh eggs stored in government refrigerators that he can move to grocery stores in order to control the greedy egg sellers by flooding the shelves with an abundance of eggs, you are mistaken.

The Joss Whedon script for Serenity, where Wash lives, is Serenity-190pages.pdf at https://www.mediafire.com/two

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