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Inflation, explained by eggs
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wtg
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posted 07 March 2022 09:25 AM
quote:
You may have noticed things are more expensive lately. And by “you may have noticed,” I mean you’ve definitely noticed, because they are, thanks to inflation. Plus, everyone’s talking about it, thanks to stress. From groceries to gas, prices are up on a multitude of items — including one particular consumer staple: eggs.

There’s a lot of chatter around exactly why inflation is relatively high, not only in the United States but globally. Some people blame the pandemic, others the supply chain, others government spending, others corporate greed. The truth of the matter is that there is a mix of factors in play, and there’s no one simple answer to how we got here — or solution to how to get out of this. To the average person, the whole thing can feel confusing. So we figured we’d take a crack at it by deciphering the case of the egg.


https://www.vox.com/the-goods/...on-explained-by-eggs


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Mikhailoh
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posted 08 March 2022 05:30 PMHide Post
You can explain anything any way. But groceries are up around 50%.


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wtg
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posted 08 March 2022 06:19 PMHide Post
Really? 50%?

For the stuff we buy, prices are up some, but there's no way we're paying 50% more....


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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier

 
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Mary Anna
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posted 08 March 2022 06:25 PMHide Post
There used to be an economics professor at Santa Fe Community College that taught the entire introductory econ course in terms of beer.

College freshmen loved it.


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QuirtEvans
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posted 08 March 2022 06:30 PMHide Post
quote:
Originally posted by Mikhailoh:
You can explain anything any way. But groceries are up around 50%.


Everyone gets some share of the blame here, and, to be fair, some of it was unavoidable as a result of the pandemic (and, as hard as tfg might try to forget, he signed two COVID relief packages that were in aggregate, I think, 60% larger than the one Biden subsequently signed.
And he signed a huge tax cut, too. But I digress.)



We have our very own in-house economics professor who can explain things far better than I can, but the only surprise to me is that the combination of large spending and tax cuts didn't result in inflation sooner.
 
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Mikhailoh
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posted 08 March 2022 06:37 PMHide Post
Yeah, it was coming regardless. I would suggest that the first two packages were needed but the third one was not, but I understand how it came to be.

It's a group effort. To solely blame Biden is just flat wrong.


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Steve Miller
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posted 08 March 2022 07:10 PMHide Post
quote:
Originally posted by Mikhailoh:
Yeah, it was coming regardless. I would suggest that the first two packages were needed but the third one was not, but I understand how it came to be.

It's a group effort. To solely blame Biden is just flat wrong.


I went grocery shopping today and bought prepper gas for the truck.

Beef hasn’t gone up much, and in fact may be cheaper than it was two weeks ago. Everything else seemed to be up about 10% except shallots, which were priced at a whopping $6.99/lb.! Yikes!

And the fine Canadian tomatoes are gone, replaced by the red croquet balls from Mexico we got in CA. One store had red croquet balls grown in Ohio.

Frowner


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pianojuggler
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posted 08 March 2022 07:41 PMHide Post
I propose a new term for what we're seeing right now: Putinflation.


Remember... you heard it here first.


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Steve Miller
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posted 08 March 2022 08:20 PMHide Post
quote:
Originally posted by pianojuggler:
I propose a new term for what we're seeing right now: Putinflation.


Remember... you heard it here first.


I’m stealing this! ThumbsUp


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wtg
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posted 20 March 2022 01:40 PMHide Post
quote:
Originally posted by Steve Miller:
Beef hasn’t gone up much, and in fact may be cheaper than it was two weeks ago. Everything else seemed to be up about 10% except shallots, which were priced at a whopping $6.99/lb.! Yikes!


You need to find a new place to buy shallots. They were $2.99 a pound (same as always) last week at my local Kroger-owned Mariano's....


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When the world wearies and society ceases to satisfy, there is always the garden - Minnie Aumônier

 
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jon-nyc
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posted 21 March 2022 12:03 AMHide Post
Something like 80% of the dollars in existence were (virtually) printed in the last 24 months.


Most of that happened in 2020.


Surely that’s a big part of what’s going on.


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Steve Miller
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posted 21 March 2022 12:38 AMHide Post
quote:
Originally posted by jon-nyc:
Something like 80% of the dollars in existence were (virtually) printed in the last 24 months.


Most of that happened in 2020.


Surely that’s a big part of what’s going on.


Ugh. Your predictions?

I already set up a cash hoard and filled up on gas.


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