Rancid wrote:
I'd like to see a break down of where the inflation is exactly. How much of this inflation is housing/rent. How much is food. How much is medical. How much is education expenses. How much is consumer goods? etc. etc.
I'm sure they are all going up, but some are going up faster than others. I suspect, the housing/rent is the highest given that there is simply too much money sloshing around in that industry.
"Good news — mostly. When the pandemic paralyzed the economy in the spring of 2020 and lockdowns kicked in, businesses closed or cut hours and consumers stayed home as a health precaution, employers slashed a breathtaking 22 million jobs. Economic output plunged at a record-shattering 31 percent annual rate in 2020’s April-June quarter.
Everyone braced for more misery. Companies cut investment and postponed restocking.
But instead of sinking into a prolonged downturn, the economy staged an unexpectedly rousing recovery, fueled by vast infusions of government aid and emergency intervention by the Fed, which slashed rates among other things.
Suddenly, businesses had to scramble to meet demand. They couldn’t hire fast enough to fill job openings or buy enough supplies to meet customer orders. As business roared back, ports and freight yards couldn’t handle the traffic. Global supply chains seized up.
With demand up and supplies down, costs jumped. And companies found that they could pass along those higher costs in the form of higher prices to consumers, many of whom had managed to pile up savings during the pandemic.
Prices are rising just about everywhere in the world, in part a consequence of Russia’s invasion of Ukraine, which has elevated energy and food prices, and in part because of the supply chain bottlenecks that have driven U.S. prices up.
Consumers have endured the pain in everyday routines. Unleaded gasoline is up 61 percent, in the past year. Men’s suits, jackets and coats, 25 percent, Airline tickets, 34 percent. Eggs 33 percent. Breakfast sausage, 14 percent."
https://www.pbs.org/newshour/economy/wh ... t-may-easeOne of the things I keep an eye on is video cards. Usually, after 2 or 3 years, a video card is an antique. The price of them just went insane. I like the Nvidia 70 series. I have the 1070, that was generations ago. The 3070 shot up so that the min price was a grand. They are now $600 to $700. If you're wondering if that meant the video card companies were price gouging, you win the golden calf, bubbala...
Construction costs have gone down some, and real estate could get a lot lower if I'm right that it was a bubble driven up by speculators with more money than sense.
Bottom line, it's all over the map. It's a shame regulators are a pale shadow of what they once were.