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Just an indicator that I was right two years ago when I said the measures they were taking weren't going to work, and would wreck the economy for no reason.

TheCatt wrote: Wed Feb 02, 2022 10:31 am This was an ad I got today.

They should put disclaimers on Corvette ads:
*If you buy this car everyone will think you have a teeny weeny.

PS5 shortages through 2022.

https://www.gamegrin.com/news/playstati ... be-beyond/

8 more years until normality.

WIll there even be a PS6, or will it be analog with steam and hamster wheels?

Another large job gains in January.

Nonfarm payrolls surged by 467,000 for the month, while the unemployment rate edged higher to 4%, according to the Bureau of Labor Statistics. The Dow Jones estimate was for payroll growth of 150,000 and a 3.9% unemployment rate.

Good news, unemployment is up a little, meaning more people returning to the work force.

10 year yield up to 1.90%

TheCatt wrote: Fri Jan 07, 2022 8:36 am

TheCatt wrote: Wed Jan 05, 2022 8:22 am December jobs smashed expectations

807k private employer jobs added, vs 400k expected, and 505k in November.

December jobs also disappointing, only up 199k vs 800k in the ADP report.

December, which initially was reported as a gain of 199,000, went up to 510,000. November surged to 647,000 from the previously reported 249,000. For the two months alone, the initial counts were revised up by 709,000. The revisions came as part of the annual adjustments from the BLS that saw sizeable changes for many of the months in 2021.

Once again the jobs report WAY undercounted reports, as I said several months ago, and the trend just keeps happening.

There was more good jobs news: The labor force participation rate rose to 62.2%, a 0.3 percentage point gain. That took the rate, which is closely watched by Fed officials, to its highest level since March 2020 and within 1.2 percentage points of where it was pre-pandemic. The labor force participation rate for women rose to 57%.

Almost back to normal. In fact, 62.2% is about 0.5% below the 10 year (pre-covid, post-financial crisis) average.

Auto manufacturers tell dealers to stop charging so much.

Ford/GM in particular.



Makes me feel better about paying MSRP for my car.

I was told in Seattle it was "take the sticker price and add ten thousand" across the board


And I want to know what the difference is between overcharging for scarce bottled water in an emergency, and overcharging for cars in an emergency. The bottled water sellers go to jail for profiteering.

GORDON wrote: Tue Feb 08, 2022 4:48 pm I was told in Seattle it was "take the sticker price and add ten thousand" across the board


And I want to know what the difference is between overcharging for scarce bottled water in an emergency, and overcharging for cars in an emergency. The bottled water sellers go to jail for profiteering.

You said the virus isnt an emergenc.

I sure did. When the rest of the world agrees your point will be valid.

Inflation 7.5% yoy, higher than expected.

Biggest moves are used cars +40%, gas 40%, meats/fish/eggs 24%.

Thanks, Trump.

Yikes, so how much of inflation is actually that food companies jacked prices to record breaking profits last year, sometimes double what they did before. The food manufacturing companies have been fucking everyone to record shattering profits and blaming inflation.

IIRC the car manufacturers had to get after the dealerships for doing this same fucking thing a week or so ago.

I'm now convinced economists are in the pockets of corporations.

Troy wrote: Thu Feb 10, 2022 7:44 pm Yikes, so how much of inflation is actually that food companies jacked prices to record breaking profits last year, sometimes double what they did before. The food manufacturing companies have been fucking everyone to record shattering profits and blaming inflation.

IIRC the car manufacturers had to get after the dealerships for doing this same fucking thing a week or so ago.

tripping out volatile gas and grocery costs, the CPI increased 6%....
Food costs jumped 0.9% for the month and are up 7% over the past year.

Troy wrote: Thu Feb 10, 2022 7:44 pm I'm now convinced economists are in the pockets of corporations.

?

TheCatt wrote: Thu Feb 10, 2022 8:09 pm ?

Food Manufacturers’ Surprise Profitability Set to Continue

https://www.bakersfield.com/ap/news/foo ... ac852.html

Tyson Foods shares set record as high meat prices fatten profits

https://www.reuters.com/business/retail ... 022-02-07/

Food company profitability persists despite inflationary impact of input costs

https://www.meatpoultry.com/articles/26 ... nput-costs

Ford CEO Asks Dealers to End Markups, Plans Punishment

https://www.thetruthaboutcars.com/2022/ ... unishment/

I know my whole loins of steak from Costco are up about 30-40% from two years ago. Not sure if they're "processed" past the slaughterhouse/butcher shop, though.

So there is inflation + scarcity, and companies are passing costs along, which other people are paying. There's enough demand, as demand for other goods (travel, etc) have fallen, that people are paying up.

The end of year profitability seems to show that at least some of these "costs" being passed along didn't exist.

And now that the numbers have come in: "Wow, we made a mysteriously high profit. But times are hard for corporations! Button up consumer with these prices hikes and cut our taxes while your at it."

Got to keep the Wall St people happy.

Troy wrote: Fri Feb 11, 2022 2:15 pm The end of year profitability seems to show that at least some of these "costs" being passed along didn't exist.

It's showing that there is a lot of demand. Services demand has fallen, and people are buying groceries and other things instead. Supply chain costs have gone up, but people want these things so badly (some people are literally still stockpiling) that they've accepted the price increases.

The fact that profits have gone up is normal. Profit margins going up, show that demand has increased. The following chart shows demand changes 1st year of pandemic.