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Thread: CPI jumps 5% in May of 2021, fastest since 2008

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  1. #1

    Thumbs down CPI jumps 5% in May of 2021, fastest since 2008

    If they are admitting a 5% jump, the true number is probably more like 15%-20%


    https://www.nytimes.com/2021/06/10/b...-may-2021.html
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  3. #2
    It's mostly in strange places like used car prices, hotel rooms, etc


    Some of it will settle out, only time will tell how much
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  4. #3
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  5. #4
    Quote Originally Posted by dannno View Post

    High prices mean more profits, which means more supply brought to market, which means lower prices and normalized profits. The cure for high prices is high prices.

    Lumber is down 50% since the peak when he highlights that article.

    Home prices are determined by supply and demand not by Blackrock or mysterious people on Wall Street. Speculators don't cause high prices. If Blackrock buys houses for more than they are theoretically worth, then they will lose money. If existing home prices rise to more than people can afford, then new homes will be more economical to build which will bring existing home prices down.

    Basically nothing he said is worth listening to, assuming you believe markets work.

  6. #5
    Quote Originally Posted by Krugminator2 View Post
    High prices mean more profits, which means more supply brought to market, which means lower prices and normalized profits. The cure for high prices is high prices.

    Lumber is down 50% since the peak when he highlights that article.
    That works for some things but not for necessities like food. I read a book by a guy who lived thru 3 hyperinflations, 2 in Argentina and 1 in Chile. He said assets like home prices collapsed while food skyrocketed. People had to sell assets to buy food.

    If high prices cured high prices there would never be high inflation.

  7. #6
    Quote Originally Posted by Madison320 View Post
    That works for some things but not for necessities like food. I read a book by a guy who lived thru 3 hyperinflations, 2 in Argentina and 1 in Chile. He said assets like home prices collapsed while food skyrocketed. People had to sell assets to buy food.

    If high prices cured high prices there would never be high inflation.
    It works for everything -- high prices are the cure for high prices. The trouble is that it works for everything, even money itself. So when a market is flooded with cash, the price of cash itself (its purchasing power) must fall. Therefore, there will always be a secular rise in all prices in the presence of monetary expansion. This was even true during the gold/silver era, it's just that monetary expansion could never occur very quickly because mining is so costly. Gold/silver inflows-outflows also occurred as a result of the insane bimetallist policies that governments would institute. But even these were nothing compared to modern inflation which has devalued the dollar to a tiny fraction of its value in the course of just a century (there are people born before the Federal Reserve was established who are still alive today...)
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  8. #7
    Quote Originally Posted by Madison320 View Post
    That works for some things but not for necessities like food. I read a book by a guy who lived thru 3 hyperinflations, 2 in Argentina and 1 in Chile. He said assets like home prices collapsed while food skyrocketed. People had to sell assets to buy food.

    If high prices cured high prices there would never be high inflation.
    The fundamental error in the application of big picture theories to real time, real life is that they don't apply in real time. There are far too many variables. You are hungry and don't have any food? Don’t worry, prices will rise, and farmers will meet your demand. You just have to wait a year. You can go without food for a year, can’t you?

    Likewise, when housing is the issue, the real world is not a thought experiment. The solution is build more houses? How long does that take? How much open land is there? There may well be no space to build. It can take a long time to convert suburban areas into Hong Kong style urban sky scrapers. People don’t want to sell their property for redevelopment. Creating more housing may take a long time, more time than you have.

    The Chinese came up with a solution to the commoditization of residential housing. Build huge cities of high rise condos in the middle of nowhere and sell them. Ghost towns of unoccupied homes. Is it smart? Is it efficient? Is it a good use of land? Is it a good investment? No, but’s a pure “market solution”. It should make Gordon Gekko happy.
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  9. #8
    Quote Originally Posted by Brian4Liberty View Post
    The fundamental error in the application of big picture theories to real time, real life is that they don't apply in real time. There are far too many variables. You are hungry and don't have any food? Don’t worry, prices will rise, and farmers will meet your demand. You just have to wait a year. You can go without food for a year, can’t you?

    Likewise, when housing is the issue, the real world is not a thought experiment. The solution is build more houses? How long does that take? How much open land is there? There may well be no space to build. It can take a long time to convert suburban areas into Hong Kong style urban sky scrapers. People don’t want to sell their property for redevelopment. Creating more housing may take a long time, more time than you have.

    The Chinese came up with a solution to the commoditization of residential housing. Build huge cities of high rise condos in the middle of nowhere and sell them. Ghost towns of unoccupied homes. Is it smart? Is it efficient? Is it a good use of land? Is it a good investment? No, but’s a pure “market solution”. It should make Gordon Gekko happy.
    Nominal rigidity. Or, price "stickiness". Wage prices are historically far more sticky than products and services. Another reason why price inflation kills the lower classes. But those who can take advantage of nominal rigidity will benefit.
    "And now that the legislators and do-gooders have so futilely inflicted so many systems upon society, may they finally end where they should have begun: May they reject all systems, and try liberty; for liberty is an acknowledgment of faith in God and His works." - Bastiat

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  11. #9
    Quote Originally Posted by Brian4Liberty View Post
    The fundamental error in the application of big picture theories to real time, real life is that they don't apply in real time. There are far too many variables.
    This is simply not true. Sound economic theory -- that is, the Austrian school of economics -- has no problems with the complexity of the real world because it's not pretending to "model" the real-world, as the modern "quantitative economics" theories do. Rather, sound economic theory is a theory of human behavior, in particular, human action. Human action is human action, whether there is an abundance or famine.

    Likewise, when housing is the issue, the real world is not a thought experiment. The solution is build more houses?
    No, the solution is to allow the market to do what it does best -- economize. Two families can live in one home if they have to. Rooms can be sub-let. Garages/basements can be converted. Camping trailers can be used as a living space, at least for a while. People who were debating the idea of off-grid living can be pushed off the fence by a rise in housing prices. And so on, and so forth. When the crunch really is that bad, high prices compel those with low demand for housing to economize their use of it, freeing up housing for those with high demand for it; at the same time, high prices incentivize developers (who may have significant idle capacity) to build more housing. Project timelines can be moved up, project-management is not Moses with the ten commandments... everything is flexible/negotiable. Money moves, so when prices rise, things move faster.

    People don’t want to sell their property for redevelopment.
    And high prices help change their minds...

    The Chinese came up with a solution to the commoditization of residential housing. Build huge cities of high rise condos in the middle of nowhere and sell them. Ghost towns of unoccupied homes. Is it smart? Is it efficient? Is it a good use of land? Is it a good investment? No, but’s a pure “market solution”. It should make Gordon Gekko happy.
    China is the exact opposite of free markets. And Gordon Gekko is no spokesman for the free market, he's a spokesman for greed, and says as much in the movie. The Marxist smear of capitalism is that "capitalism is greed", but genuine free markets have nothing to do with greed. The best entrepreneur is the one who learns to serve and to love serving. Putting the customer first has become a meaningless buzz-phrase nowadays but it used to mean something.... just goes to show how deeply printing-press money corrupts a society and its markets...
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  12. #10
    I hope all those big screen stimulus tvs were worth the lifelong interest
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

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  13. #11
    Quote Originally Posted by Warrior_of_Freedom View Post
    I hope all those big screen stimulus tvs were worth the lifelong interest
    They were
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  14. #12
    Quote Originally Posted by TheTexan View Post
    They were
    how big is yours?
    Pfizer Macht Frei!

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  15. #13
    Quote Originally Posted by Danke View Post
    how big is yours?
    32" is the perfect size. Not too big, not too small.
    A savage barbaric tribal society where thugs parade the streets and illegally assault and murder innocent civilians, yeah that is the alternative to having police. Oh wait, that is the police

    We cannot defend freedom abroad by deserting it at home.
    - Edward R. Murrow

    ...I think we have moral obligations to disobey unjust laws, because non-cooperation with evil is as much as a moral obligation as cooperation with good. - MLK Jr.

    How to trigger a liberal: "I didn't get vaccinated."

  16. #14
    Quote Originally Posted by Danke View Post
    how big is yours?
    I have four 120"s stacked as 2x2, wired to work as a single TV.

    Thx covid stimmies
    It's all about taking action and not being lazy. So you do the work, whether it's fitness or whatever. It's about getting up, motivating yourself and just doing it.
    - Kim Kardashian

    Donald Trump / Crenshaw 2024!!!!

    My pronouns are he/him/his

  17. #15
    Quote Originally Posted by TheTexan View Post
    I have four 120"s stacked as 2x2, wired to work as a single TV.

    Thx covid stimmies
    mine is 120”

    4000k Epson projector. Great for watching football. But don’t tell the Injun, I don’t want him knocking at my door and eating my popcorn during the playoffs.
    Pfizer Macht Frei!

    Openly Straight Man, Danke, Awarded Top Rated Influencer. Community Standards Enforcer.


    Quiz: Test Your "Income" Tax IQ!

    Short Income Tax Video

    The Income Tax Is An Excise, And Excise Taxes Are Privilege Taxes

    The Federalist Papers, No. 15:

    Except as to the rule of appointment, the United States have an indefinite discretion to make requisitions for men and money; but they have no authority to raise either by regulations extending to the individual citizens of America.

  18. #16
    Used cars were up ten percent in April alone , more now . housing 13 percent last year , more this yr so expect these numbers to go much higher in the near future.
    Do something Danke



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  20. #17
    Nine other companies working on price increases now are , Stanley, Clorox , Proctor and Gamble , Kimberly Clark , Honeywell , JM Smucker Co , Whirlpool , Reynolds , Campbell Soup . These are just the ones publicly admitting it . Reynolds has implemented the first round of increases and the second and third rounds are set . Meanwhile the Fed continues to blatantly lie and say it is of no concern and just due to plague shortages. Thats is not even close to the truth they just expect you to be stupid enough to believe it when your paying 45 percent more for a ribeye in 2022 than you did in 2019.
    Last edited by oyarde; 06-13-2021 at 09:13 PM.
    Do something Danke

  21. #18
    Companies like Coca Cola have said now they are already planning for price increases in 2022 . They know costs are rising and it cant be stopped .
    Do something Danke

  22. #19
    So far I havnt even seen any studies showing a projected impact of the shipping crisis. I expect this could also contribute more to consumer goods increases beyond all the other things contributing.
    Do something Danke

  23. #20
    oil is out there leading the way today.
    Do something Danke

  24. #21
    Fed continues with blatant dishonesty saying expects 3 1/2 percent inflation.
    Do something Danke

  25. #22
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

  26. #23
    Quote Originally Posted by Krugminator2 View Post
    High prices mean more profits, which means more supply brought to market, which means lower prices and normalized profits. The cure for high prices is high prices.

    Lumber is down 50% since the peak when he highlights that article.

    Home prices are determined by supply and demand not by Blackrock or mysterious people on Wall Street. Speculators don't cause high prices. If Blackrock buys houses for more than they are theoretically worth, then they will lose money. If existing home prices rise to more than people can afford, then new homes will be more economical to build which will bring existing home prices down.

    Basically nothing he said is worth listening to, assuming you believe markets work.
    That "cure" only works in a free market. Unlimited Federal Reserve notes to select insiders does not a free market make.


    Blackrock buys real estate with Federal Reserve notes that have no limits in supply. They can "overpay" because they are using an asset they have an unlimited supply of. Overpaying by 20% doesn't matter to them because more is just a phone call away.

    As usual, you're completely wrong, but that's okay.

  27. #24
    Quote Originally Posted by Matt4Liberty View Post
    That "cure" only works in a free market. Unlimited Federal Reserve notes to select insiders does not a free market make.
    ^ This

    Blackrock buys real estate with Federal Reserve notes that have no limits in supply. They can "overpay" because they are using an asset they have an unlimited supply of. Overpaying by 20% doesn't matter to them because more is just a phone call away.

    As usual, you're completely wrong, but that's okay.
    And even if Blackrock isn't getting "free inflationary cash", no matter, they're just a drop in the literal ocean of cash spewing out of the money-fountain in DC. In fact, most of it ends up going into "defense" spending. This is why it is so important to keep the MIC fully employed at all times. The true purpose of the central bank is not for the government to buy things -- rather, its primary purpose is to light the distributed savings/capital of the general public on fire because distributed savings/capital makes Marxist takeover impossible. "Paper assets" like stocks, mutual funds, bonds, etc. don't count because those are already in the custody of the banking system and can be seized at the snap of the fingers. Marxist takeover is only possible when the vast majority of liquid wealth is in the hands of the central-planners (whether through outright revolution or, as in the case of the US, through a "boiling the frog" approach).

    The Agenda is the same as it was since Marx wrote Das Kapital. Nothing has changed.
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28



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  29. #25
    Quote Originally Posted by Matt4Liberty View Post
    That "cure" only works in a free market. Unlimited Federal Reserve notes to select insiders does not a free market make.


    Blackrock buys real estate with Federal Reserve notes that have no limits in supply. They can "overpay" because they are using an asset they have an unlimited supply of. Overpaying by 20% doesn't matter to them because more is just a phone call away.

    As usual, you're completely wrong, but that's okay.
    You should read Economics in One Lesson. Good foundation and gets rid of fuzzy thinking.

    This article by Walter Block is also useful for this topic. https://fee.org/articles/the-benefits-of-speculation/

    Systematically overpaying for something is not a winning strategy. It doesn't matter how much money you have or have access to. At some point you have to sell. And if you have a lot of inventory to unload that depresses price and in the meantime taking inventory off the market would encourage people to build. The laws of economics are undefeated.
    Last edited by Krugminator2; 06-19-2021 at 09:31 PM.

  30. #26
    Quote Originally Posted by Krugminator2 View Post
    ...
    Systematically overpaying for something is not a winning strategy. It doesn't matter how much money you have or have access to. At some point you have to sell. And if you have a lot of inventory to unload that depresses price and in the meantime taking inventory off the market would encourage people to build. The laws of economics are undefeated.
    And how does that apply to the Federal Reserve purchasing government bonds at above market prices?
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Pharma-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
    "Totally free immigration? I've never taken that position. I believe in national sovereignty." - Ron Paul

    Proponent of real science.
    The views and opinions expressed here are solely my own, and do not represent this forum or any other entities or persons.

  31. #27
    Quote Originally Posted by Brian4Liberty View Post
    And how does that apply to the Federal Reserve purchasing government bonds at above market prices?
    At a set amount every month weather it is needed or not for years at a time . Crazy town is how I see it. You'd think AOC was running the Fed.
    Last edited by oyarde; 06-21-2021 at 11:44 AM.
    Do something Danke

  32. #28
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  33. #29
    __________________________________________________ ________________
    "A politician will do almost anything to keep their job, even become a patriot" - Hearst

  34. #30
    Quote Originally Posted by Matt Collins View Post
    ...
    Jer. 11:18-20. "The Kingdom of God has come upon you." -- Matthew 12:28

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