Which makes it even more disgusting when they were planning to sell it at cost or whatever hedge fund or foreign buyer would pay in cash.
link should work for everyone Inflation Hurts Most for the Things We Can’t Skimp On Costs for child care, rent and car insurance are up. Inflation might be easing, but it doesn’t feel that way. https://www.wsj.com/economy/consume...aywy14w25w5&reflink=desktopwebshare_permalink
Americans’ refusal to keep paying higher prices may be dealing a final blow to the U.S. inflation spike The great inflation spike of the last three years is nearly spent — and economists credit American consumers for helping slay it. Some of America's largest companies, from Amazon to Disney to Yum Brands, say their customers are increasingly seeking cheaper alternative products and services, searching for bargains or just avoiding items they deem too expensive. Consumers aren't cutting back enough to cause an economic downturn. Rather, economists say, they appear to be returning to pre-pandemic norms, when most companies felt they couldn't raise prices very much without losing business. The reluctance of consumers to keep paying more has forced companies to slow their price increases — or even to cut them. The result is a cooling of inflation pressures. Other factors have also helped tame inflation, including the healing of supply chains, which has boosted the availability of cars, trucks, meats, and furniture, among other items, and the high interest rates engineered by the Fed, which slowed sales of homes, cars and appliances and other interest rate-sensitive purchases. before the price gouging, MCD was charging ~~$1 for its apple pie, it is now ~~$2.60
the global supply chain bottleneck and Russia's invasion have led to a 4=decade high inflation in mid-2022. US wholesale inflation cooled in July 2024 signaling that price pressures are continuing to ease The Labor Department reported Tuesday that its producer price index — which tracks inflation before it reaches consumers — rose 0.1% from June to July, and 2.2% from a year earlier.
Really odd how that works. I mean want to buy stuff you don't have to have like electronics, cheap. Stuff you have to have, expensive. Looks like price gouging to me.
Food and grocery industry: we are struggling to maintain margins. We need to raise prices. Adoo: they need to stop price gouging Also adoo: consumers are rejecting price gouging prices. That will drive costs down.
space ghost just publicized that he whas poor reading comprehension back lash against retailers (mcd, target, chipole) who had been price gouching have forced them to offer more discounts / deal to win back customers. one retailer, Costco, who has not been price gouging, has continued to generate profits.
on the heel of this development, the Labor Dept just release the latest CPI data, Consumer price growth in July 2024 slowed to its lowest post-pandemic level, a sign that inflation is finally ebbing. On a 12-month basis, the Consumer Price Index (CPI) cooled to 2.9%, down from 3% in June — the first time the index dipped beneath 3% since March 2021.
https://mxmnews.com/article/445623c...prices-up-20-3-since-biden-harris-took-office CPI: Inflation rises 2.9% year over year with prices up 20.3% since Biden-Harris took office According to the latest CPI report from the Bureau of Labor Statistics released Wednesday, U.S. inflation rose 2.9% in July year-over-year, with prices continuing to rise, having surged 20.3% since January 2021, when Joe Biden and Kamala Harris took office. Key Details: The CPI report shows a 2.9% year-over-year inflation increase in July, slightly below the 3% economists predicted. However, this lower inflation rate does not mean prices are decreasing; they continue to rise and have surged by 20.3% since January 2021. Prices for essential goods and services have seen significant spikes in that time, including gas (+50.5%), electricity (+31.7%), and groceries (+21.6%).
one of the key factors why inflation was so much lower in Feb 2020 than now since Trump took office to the time he was fired by American voters, his admin lost over 2 million jobs, Trump has been the only post WW2 POTUS to have experienced a net loss in job creation. when there is a huge loss in job creation, that are less people with money to spend, which drive down demand for goods and services, which was what happened at the end of Trump's tenure as POTUS. on the other end of the spectrum, Biden / Harris has generated postive job creation, every month since he took office. so far, it has alreading gained more than 14 million jobs, many high-paying newly created jobs, as a result of Bidenomic Bill Back Better Bill CHIP Act Infrastructure Bill etc when more people are gainfully employed, there is a lot of disposable income available to demand goods and servies,
the (albeit completely without basis) target for average inflation is 2%, and Biden has never been at or below that a better question to ask is why aren't things getting cheaper? why would that be a bad thing? inflation is always a product of monetary supply expansion (via deficit spending, money printing, fractional reserve banking, and near-zero interest rates)
how did Trump lose so many jobs ? altho he had campaigned for an infrastructure bill, w a committment of > 100 Billlion, in his 4-yrs in office, he didn't even come up w a plan, much less a bill.
because he let these two r****ds lock down the country (which and Dem president would have also done, and twice as hard)
how did Trump lose so many jobs ? altho he had campaigned for an infrastructure bill, w a committment of > $100 Billlion, in his 4-yrs in office, he didn't even come up w a plan, much less a bill. how did the Biden/Harris team create so many high-paying new jobs? the team put forth the effort to sign into law Build Back Better Bill CHIP act, infrastructure bill, etc. why trump failed and Biden/Harris succeeded in signing the Infrastructure bill ?
on 25 Jul 2024 on 23 Aug 2024, at the summit in Jackson Hole, Wy, Chair Powell says 'time has come' for interest rate cut
guess he had this information July 2024 PCE Data Stays on Cooling Trend The Bureau of Economic Analysis released the Federal Reserve’s preferred gauge of prices—the personal consumption expenditures, or PCE, price index—this morning. Headline PCE Increased 0.2% month over month and 2.5% year over year vs. expectations for a 0.2% MoM increase and a 2.6% YoY increase. Core PCE Increased 0.2% MoM and 2.6% YoY vs. expectations for a 0.2% MoM increase and a 2.7% YoY increase.
A rebound in the job market in August 2024, albeit below estimate, shows cooling is likely to keep the Federal Reserve on track to cut interest rates by a quarter percentage point this month.
As reported by Bloomberg, The Federal Reserve’s attention has been squarely focused on inflation these past few years. But as it seeks to execute a soft landing following all the post-pandemic tumult, the central bank is looking to the other part of its mandate. With several reports, including August job numbers, suggesting the US labor market is losing steam, Fed watchers are wondering if the Fed will make a bigger-than-expected interest-rate cut when it meets later this month. The most recent jobs report further affirmed expectations for a cut, so the big question now is how much. For Fed Governor Christopher Waller, “the balance of risks has shifted toward the employment side of our dual mandate,” adding that “policy needs to adjust accordingly.” In some corners of Wall Street, traders are again putting bets on the Fed opting for a 50-basis-point cut (which looked like wishful thinking a month ago) instead of the widely expected 25-point reduction. it would be long before Invisible will be parroting the meaningless spin that the Fed is exploding its balance sheet
