I See Inflation At Crutchfield

[Timcognito]

another good observation... it simply shifts the tax burden to those that can least afford it, creating more of a wealth inequity , where those that have capital already can buy up even a greater % of the economy and it's assets...and pay politicians (of both parties , unfortunately) to keep the ball rolling...it's gonna take a major financial crisis to slow it down, but I think it's(a crisis) inevitable.. and we can obviously trace much , if not all of this back to(blanket) tariffs...

It is also a back door approach to slowing both authoritarian economies where the government is buying infrastructure and creating jobs but internal competition, investment in basic R&D, education and healthcare are not prevalent and social democracies where taxes are high but public healthcare, education, environmental protection, transportation and safety are provided. Both produce very profitable goods at lower profits that are competitive and a competitive advantage over US industries that emphasize profit margin, have a lesser concern for the general citizen populations inclusion and welfare as a nation and see the cost of government services as an impediment, often co-opting the political process with lobbing and gerrymandering.

 

[tw 2022]

It is also a back door approach to slowing both authoritarian economies where the government is buying infrastructure and creating jobs but internal competition, investment in basic R&D, education and healthcare are not prevalent and social democracies where taxes are high but public healthcare, education, environmental protection, transportation and safety are provided. Both produce very profitable goods at lower profits that are competitive and a competitive advantage over US industries that emphasize profit margin, have a lesser concern for the general citizen populations inclusion and welfare as a nation and see the cost of government services as an impediment, often co-opting the political process with lobbing and gerrymandering.

Well stated...it's pretty obvious to me that supply side economics has proven to be over the last 45 yrs an increasingly large burden to the general population, and it's showing up as poor education opportunities that turn into poor life opportunities.. Are we all the way to a nationwide service economy yet, rather than a production economy? I think this current trend (tariffs ) actually takes us further down this path long term... I refer to * star link * as an example, does it really produce anything NASA *couldn't* be doing ?or is it just making Elon a larger player at taxpayers expense?

 

[Timcognito]

Well stated...it's pretty obvious to me that supply side economics has proven to be over the last 45 yrs an increasingly large burden to the general population, and it's showing up as poor education opportunities that turn into poor life opportunities.. Are we all the way to a nationwide service economy yet, rather than a production economy? I think this current trend (tariffs ) actually takes us further down this path long term... I refer to * star link * as an example, does it really produce anything NASA *couldn't* be doing ?or is it just making Elon a larger player at taxpayers expense?

I actually think that we need more out of box things like Star Link and more competition and less consolidation. Small industry was once the engine of the US economy. Musk himself is a social disappointment and embarrassment from where I stand.

 

[Tom C]

Was in the grocery store today, and was astounded by how cheap eggs are. Prices have come down drastically.

 

[tw 2022]

I actually think that we need more out of box things like Star Link and more competition and less consolidation. Small industry was once the engine of the US economy. Musk himself is a social disappointment and embarrassment from where I stand.

That in essence is my point , putting someone with that glaring a case of personal dysfunction " in charge" of a big chunk of the economy is a red flag in of itself.. It begs the question: where does regulation end and unfettered oligarchy start?...Star link as an idea doesn't bother me, Elon's business model of exploitation of the taxpayer does, hence again the question: if the government actually is accountable, why do we have Elon instead of Nasa , based on the inherent risk of a " no account " getting access to that funding and influence rather than the vice President ( who obviously risks getting voted out of the position)...?...

 

[tw 2022]

Was in the grocery store today, and was astounded by how cheap eggs are. Prices have come down drastically.

Did you glance at the price of beef.?.. A nice bit of " slight of hand" distraction , and they've still got 1 hand on your wallet...

 

[KR500]

Weren’t the bird viruses and screw worm disease affecting egg and cattle prices substantially this year ?

 

[Gitfiddle]

Weren’t the bird viruses and screw worm disease affecting egg and cattle prices substantially this year ?

Yes. As I said in a previous post multiple factors can cause inflated prices. Draught is another factor. Tariffs are one factor out of many that can effect the whole chain.

if beef demand rises, but domestic supply lowers due to disease, imported beef demand rises to compensate.

 

[Somafunk]

Leopards ate my face sub Reddit is rather amusing, if rather depressing at the same time, I would post a spoiler link but can’t from my iPhone for some reason

---

 

[tmtomh]

Was in the grocery store today, and was astounded by how cheap eggs are. Prices have come down drastically.

No. Inflation went down very quickly, from its peak of about 9% in spring 2022 to about 3% in spring 2023. When egg prices were being hyped as a thing during the election season in 2024 it was bird flu, not systemic inflation. Inflation dipped below 3% in late spring 2024 and has been relatively steady, between 2.4 and 3%, ever since.

 

[amirm]

I really don’t know what their plan is. I was just guessing based on what seems logical, that is use the tariff money towards deficits.

If they really believed this, they wouldn't have raised the debt ceiling. If it happens, it would be purely accidental.

Here is the latest report from Goldman Sachs on who pays the tariff:

 

[amirm]

Was in the grocery store today, and was astounded by how cheap eggs are. Prices have come down drastically.

I was at a grocery store and Salmon was $35 a pound! A 20 pound fish would cost $700!!! I have never seen prices like this. And this is peak salmon season.

 

[Power Pop 23]

I was at a grocery store and Salmon was $35 a pound! A 20 pound fish would cost $700!!! I have never seen prices like this. And this is peak salmon season.

I am waiting for the grocery aisles to switch to a dynamic 'market pricing' protocol where the price is only finalized at the checkout scanner - with an option to secure a loan from a 'Buy Now, Pay Later' lender.

 

[tmtomh]

I am waiting for the grocery aisles to switch to a dynamic 'market pricing' protocol where the price is only finalized at the checkout scanner - with an option to secure a loan from a 'Buy Now, Pay Later' lender.

I appreciate the humor in your comment - truly!

At the same time, we have a pretty international membership here, and so I’d guess some of them are aware of or have lived through actual hyperinflation in various countries, where store prices really do get changed throughout the day because the currency is losing value so quickly.

What we’ve experienced in the US is nothing like that - at all. In fact, US fiscal policy in the 2022-24 period was such that inflation, generationally high though it was, was not as bad as it was in most of Europe.

I don’t mean to be humorless, but I think some perspective is in order.

 

[Power Pop 23]

I appreciate the humor in your comment - truly!

At the same time, we have a pretty international membership here, and so I’d guess some of them are aware of or have lived through actual hyperinflation in various countries, where store prices really do get changed throughout the day because the currency is losing value so quickly.

What we’ve experienced in the US is nothing like that - at all. In fact, US fiscal policy in the 2022-24 period was such that inflation, generationally high though it was, was not as bad as it was in most of Europe.

I don’t mean to be humorless, but I think some perspective is in order.

I agree. I would not like to live through an era where paper money was carried in wheel barrows.

 

[sam_adams]

But poor people aren't required to buy imported stuff

Seventeen percent (17%) Mexican tomato tariff:

Here's how a major Mexican tomato exporter is affected by Trump’s 17% tariff

The Trump administration's 17% duty on fresh tomatoes imported from Mexico is creating challenges for the country that supplies the most tomatoes to U.S. consumers.

apnews.com

Unless you buy close to the grower in the US, you don't buy American. The rationale for this tariff is to "strengthen" US growers. That of course is completely misguided since US growers can't produce enough now to meet demand.

 

[1066]

I don’t understand why most sources, both individuals and news organisations, agree that USA importers pay the tariffs, and yet the whitehouse is still saying other countries are paying the tariffs.

Source: https://www.whitehouse.gov/fact-she...-and-european-union-reach-massive-trade-deal/

“However, the sectoral tariffs on steel, aluminum, and copper will remain unchanged—the EU will continue to pay 50% and the parties will discuss securing supply chains for these products.”

The eu does not pay a 50% tariff, the entity in the USA which is importing eu aluminium would pay.

 

[solderdude]

What Armstrong economics has to say about this.

What if the Kondratiev cycle goes like this ? Note this is not the actual Kondratiev but adapted the '2002' peak cycle to a 50 year cycle (which makes more sense)
This might predict a peak in AI ? about 7 years from now.

 

[1066]

Query: why does this say “Covid Scam”, is Armstrong a Covid sceptic?

Looking him up he did not qualify in economics in any university. Was jailed for a PONZI scheme, whatever that is.

There could well be an ai crisis in 7 years time.

 

[1066]

So on tariffs, say Amir buys $50,000 of Asci speakers from South Korea, he would have to pay $7,500 tariff (15%) to usa government.