These statements about transitory inflation are bs, it is INFLATION!
- Thread starter wildchild
- Start date
Nearly all the western nations are experiencing higher inflation than the U.S. Nearly every nation is encountering inflation peaks -- in most countries this is the highest inflation in decades. Hence a global problem which will not be sorted out quickly.
The reality -- in context of the traditional inflation rate in Switzerland over decades -- is the current rate is a peak and the residents view it as a significant issue. Even if it looks low compared to some other countries, the Swiss inflation is significant in context of this "banking nation" which "sells" itself as a traditional stable financial domain.
Likewise Japan is experiencing an inflation peak. And this is a nation that has endured a deflation problem for decades. Effectively any inflation at all in Japan is surprising and typically unwanted. The nation targeted a 2% inflation rate but in most years never achieved anywhere close to this number and the Japanese economy remained effectively deflationary.
Japan Finally Gets Inflation—but the Wrong Kind
After decades of fighting deflation, global price rises are causing political worries.
https://foreignpolicy.com/2022/04/25/inflation-japan-deflation-economy/
Japan's inflation hits 8-year high in test of BOJ's dovish policy
https://www.reuters.com/markets/asi...-year-high-stays-above-boj-target-2022-10-20/
There is a global inflation issue. No easy solutions are available either. Central banks will keep increasing rates. Energy costs will likely ease after the winter. Geo-political events have a significant impact. Overall a complex situation with many moving parts.
There's short-term inflation caused by supply chain shortages, wars, OPEC, and other things that eventually rebalance. Then there's long-term inflation caused by things like this:
https://fred.stlouisfed.org/series/M2SL
Look at 2020.
Now look at our GDP:
https://fred.stlouisfed.org/series/GDPC1
As you can see the spike in the money supply does not match our production level. The ECB is experiencing the same thing.
It is interesting that not a single reporter in the U.S. asks questions about money supply in Q&A sessions with government leaders in press conferences. It's like they focus on rising food, gas and other prices that impact consumers and never dig deeper.
Well, the Fed doesn't want to own up to its mistake. This was Powell in 2021:
He should have come here and read my posts. I am usually a good 6 months to a year ahead of things.
Just look at this very thread. The initial reaction was laughter and mockery. It aint so funny now, is it?
So is Biden also responsible for this?
Eurozone inflation jumps to record-high 10.7%
The increase outpaced the predictions from economists. The European Central Bank hinted that another interest rate hike was likely on the horizon.
https://www.dw.com/en/eurozone-inflation-jumps-to-record-high-107/a-63604438
Eurozone inflation jumps to record-high 10.7%
The increase outpaced the predictions from economists. The European Central Bank hinted that another interest rate hike was likely on the horizon.
https://www.dw.com/en/eurozone-inflation-jumps-to-record-high-107/a-63604438
Dark Brandon, having stopped the hordes of election deniers on its tracks, smacks down inflation w/his sidekick JPOW. #Transitory
Economies are always self correcting if politicians and central banks just back off a bit and let the pain drizzle down they created in the first place...
US retailers lower import forecast amid demand decline
Bill Mongelluzzo, Senior Editor | Nov 08, 2022 3:02PM EST
Print
Retailers are forecasting a 6 to 8 percent increase in holiday sales, but that will not help import numbers because most of the seasonal merchandise entered US ports this spring. Photo credit: Olena Sergeyeva/Shutterstock.com.
US retailers Tuesday significantly downgraded their forecast for US imports over the next several months, saying consumers are expected to remain cautious in their buying habits at least through the first quarter of 2023.
“We expect the flattening of demand that began around the middle of this year to continue into the first half of 2023,” said Ben Hackett, founder of Hackett Associates, which co-publishes the Global Port Tracker (GPT) with the National Retail Federation (NRF). “This will depress the volume of imports, which has already declined in recent months. Carriers have begun to pull services and are looking at laying up ships.”
In the GPT released Tuesday, retailers are now forecasting that containerized imports into the US this month will be down 9.2 percent from November 2021. That compares with the forecast of a month ago for a 4.9 percent year-over-year decline. December imports are expected to drop 9 percent year on year, compared with the previous forecast of a 6.1 percent decline.
January imports are now forecasted to be down 8.4 percent, compared with the previous projection of a 4.9 percent year-over-year drop. February imports are expected to plunge 19.1 percent from February 2021, against the previous projection of a 15 percent drop. Many factories in Asia will close for a week or two beginning Jan. 25 for the annual Lunar New Year holiday.
The GPT Tuesday forecasted a year-over-year decline of 15.2 percent for March imports; it did not issue a projection for March in its October report.
October figures are not reported yet, but GPT expects that imports at the 12 US ports it surveys will come in at 2.02 million TEU, down 8.5 percent year over year.
US retailers lower import forecast amid demand decline
Bill Mongelluzzo, Senior Editor | Nov 08, 2022 3:02PM EST
Retailers are forecasting a 6 to 8 percent increase in holiday sales, but that will not help import numbers because most of the seasonal merchandise entered US ports this spring. Photo credit: Olena Sergeyeva/Shutterstock.com.
US retailers Tuesday significantly downgraded their forecast for US imports over the next several months, saying consumers are expected to remain cautious in their buying habits at least through the first quarter of 2023.
“We expect the flattening of demand that began around the middle of this year to continue into the first half of 2023,” said Ben Hackett, founder of Hackett Associates, which co-publishes the Global Port Tracker (GPT) with the National Retail Federation (NRF). “This will depress the volume of imports, which has already declined in recent months. Carriers have begun to pull services and are looking at laying up ships.”
In the GPT released Tuesday, retailers are now forecasting that containerized imports into the US this month will be down 9.2 percent from November 2021. That compares with the forecast of a month ago for a 4.9 percent year-over-year decline. December imports are expected to drop 9 percent year on year, compared with the previous forecast of a 6.1 percent decline.
January imports are now forecasted to be down 8.4 percent, compared with the previous projection of a 4.9 percent year-over-year drop. February imports are expected to plunge 19.1 percent from February 2021, against the previous projection of a 15 percent drop. Many factories in Asia will close for a week or two beginning Jan. 25 for the annual Lunar New Year holiday.
The GPT Tuesday forecasted a year-over-year decline of 15.2 percent for March imports; it did not issue a projection for March in its October report.
October figures are not reported yet, but GPT expects that imports at the 12 US ports it surveys will come in at 2.02 million TEU, down 8.5 percent year over year.