Inflation will cause grocery prices to rise even higher by October: Billionaire supermarket owner

https://www.foxbusiness.com/lifesty...igher-grocery-prices-by-october-gristedes-ceo

HYPERLINK has full story

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The Labor Department said Tuesday that prices rose 5.4% year over year with prices trending higher every month this year. Analysts surveyed by Refinitiv were expecting prices to rise 4.9% annually.

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With as much "free money" as there has been tossed around, it naturally de-values the dollar and prices increase. Artificially inflating the cost of energy (Democrat policy) also causes all prices to rise. Sadly, the answer to this from Democrats in power is to repeat the same failed policy

https://www.foxbusiness.com/politics/biden-inflation-government-spending

what we are seeing is what will also happen if the govt mandates a higher and unrealistic minimum wage. Wages must only increase when the value of labor increases.

 

Prices of energy are crashing at the moment because OPEC + made an agreement. almost 10% drop in a day. Erased the last two months gains. Hopefully it settles in the 50's per barrel and we get some relief on fuel prices.

 

OPEC uped production and there is a good chance demand will fall with the expansion of the Delta variant of COVID. I think we have seen the peak of oil prices for a while.

 

OPEC+ agreed to increase production by 400K/day per month for the next 15 months, with a fallback position of pausing increases on the fly. This increase should still be less than the predicted increased demand per month going forward, unless our globalist governments crash economies with another bullshit covid scare.

In other words, high gas prices are here to stay for at least another year. Crude dropped $10 bucks....give it two weeks and it'll be right back up where it was.

 

and we see the price at the pump immediately rise despite the fact that the fuel in storage was purchased at lower rices. Now we will need to wait moths to see any drop at the pump. We won't see sub $2 per gallon because US production and refinement is no longer a threat to the world market with Democrat control.

 

I bought a side of beef. $2.98 / lb. Great hedge against inflation.

 

OK, so when are you smoking ribs and inviting me over?

 

IDK. So many variables here besides just price of oil. If nothing else, there are those fine Aldi and Lidl stores where real Mericans can buy their noshables.

 

LOL. Has filet mignon, sauteed mushroom and onion, grilled corn on the cob and baked potato last night when we got it.

Ribs will be later. Brisket is for Christmas.

 

So are you also saying CEO and Executive salary raises must also come to aa screeching halt since they were the only ones who continued receiving them during the pandemic??

 

I am jealous

 

BIDENFLATION MAY HIT DOUBLE DIGITS: Grocery Prices Could Rise 10 to 14 Percent By October, Grocery Chain CEO Warns.

Biden is destroying the value of your money in real time.

LOOK FOR BIDENFLATION TO GET WORSE:

A budget destroying 6% by Oct?

A 6% rise in prices = a 6% salary cut.

Biden and Democrats in DC, by producing inflation are cutting your pay. They don't like you and they don't respect you. They view you with distrust and disdain.

 

Biden will fix inflation by borrowing and printing more money to spend. What?

 

Sounds like that billionaire owner isn't affected too much...

 

Can look back at the purchase history on my Sams account and just see how real inflation is.

 

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I'm glad I live where grocery prices are lower because of grocer competition.

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Don't put down the German discount food chain Aldi. The Aldi store in my neighborhood is nicer [and cleaner] then the local neighborhood Walmart.

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but no more mean tweets

 

sure, but it doesn't change anything for the common-folk

Time to break out the W.I.N. buttons. Maybe update them to W.I.N. masks

 

I have no problem with Aldi other than ours is in a really bad location and the aisles are so narrow it only takes a couple people to gum up the whole flow of traffic in the store.

 

But hey, we all saved 16 cents on our 4th of July BBQ.

 

Gas around here has remained under $3 gallon regular, food on the other hand seems to climb pennies every day. I like the gas prices BUT I DON'T EAT IT!

 

Whip Inflation Now!

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You're riding on the Economics Fail-Boat.

It isn't a text message. It isn't increase the money supply and "inflation" (snicker...like you really know what it is) happens tomorrow.

It takes years.

You're inability to understand that there are different types of each inflation, each with their own unique cause and own unique solution(s) is not even remote shocking given the large number of low-information voters.

Monetary Inflation is currently running 0.2%-0.3% annually. That's caused by monetary polices which the government and central bank control. The central bank -- meaning your Federal Reserve -- can decrease the money supply and/or raise interest rates and/or Congress can increase taxes and/or reduce spending. Those are the solutions for Monetary Inflation which is practically non-existent in your economy.

Demand-pull Inflation is caused by a shift in the Demand curve when Supply is static or dwindling. The result is a price rise which low-information voters egged on by an ignorant Media falsely believe is caused by the Federal Reserve.

The Federal Reserve is not buying gasoline and thus increasing Demand, but you and other consumers are.

What's been happening in the US for the last 101 years?

People have been migrating from rural areas to urban areas. If you would bother to actually study data, like at the Census Bureau instead of wasting your time on "news" you would see that in 2010 rural areas lost an average 18% of their population and in then in 2020 they lost an average 20% of their population. If you look at earlier census records, you'll see rural areas hemorrhaging people at 10% to 20% per year.

This inflow of people into urban areas creates excess Demand for Housing. You have 120,000+ housing markets in the US and some of those 120,000+ housing markets are so saturated with housing that every single square inch of land is occupied by residential or commercial buildings.

It is simply not feasible to increase the Supply of Housing without displacing families.

That is in no way the Federal Reserve's fault, but you could certainly blame Congress, specifically, you can lay blame on the Department of Housing & Urban Development.

The US has 950,000+ oil wells and when oil prices drop, there are 1,000s of wells that are not profitable to pump. I would explain why, but low-information voters just don't get it.

You can't shut down a well with a mouse-click or text message, but you can shut it down with an oil service crew. They will spend 10-14 days working 10 hour days to shut down the equipment, drain the fluids out, set up the equipment for long-term storage, cap the well, then blow air in the miles of feeder line to push the oil into the main-line and closing the valves behind them as they go.

To restart the well, that isn't a mouse-click, either. You send an oil service crew back out and they reverse the process working 10 hour days for 10-14 days.

It took about 3-6 months to shut down your unprofitable wells, and it'll take 3-6 months to start them back up.

Couple that with that fact that your gasoline Supply is permanently fixed.

Why? Well, just as soon as you learn how to construct a Demand Schedule and a Supply Schedule, I can explain it to you.

Of that 5.4% "Inflation" that the Department of Labor announced. 0.2%-0.3% is Monetary Inflation, 0.1% is Cost-push Inflation (caused by you and other voters and not your Federal Reserve) and ~5.0% Demand-pull Inflation caused solely by you and other consumers.

The solutions for Demand-pull Inflation are:

1) Stop consuming like the Borg
2) Seek substitutes
3) Increase Supply to meet Demand

Notice that the Federal Reserve is not part of the solutions, since they are not the cause.

That will cause all your fracking wells to shut down and then we get more inane threads.

 

That’s up to boards on those corporations. They can strip the CEOs and negotiate new terms. And CEOs can easily pass their salaries down for the betterment of the company if they choose. Not much lease can be done there.