inflation – The Musings of the Big Red Car

Hold On On That Victory Lap, Amigo

Big Red Car — Fri, 18 Nov 2022 15:58:22 +0000

So the Biden White House put on their jogging shoes and took a victory lap last week because “. . . IT IS WORKING!” “It” is, of course, the admin’s brilliant inflation reduction plan – a highly secret document, apparently – that resulted in PPI (Producer Price Index – the price of things on the […]

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A Short Primer on Inflation

Big Red Car — Thu, 10 Nov 2022 21:49:44 +0000

The markets were gaga today with an inflation report of 7.7% (annual rate) down from 8.2% the prior month (40-year high) and a monthly rate of 0.4%. Those are the numbers, but folks seem unable to understand how they apply. So, please allow me to provide an example. 1. Suppose a year ago, a dozen […]

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Black Gold, Putler, And The Dark Prince

Big Red Car — Thu, 06 Oct 2022 14:16:40 +0000

This week OPEC+ at its 33rd OPEC and non-OPEC Ministerial Meeting held in Vienna agreed to decrease crude oil production by 2,000,000 barrels a day which will have obvious implications — bad implications — for the rising price of oil, increasing inflation, and the global economy. Taking 2,000,000 bbl/day out of the pipeline will: 1. […]

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Embedded Inflation

Big Red Car — Fri, 16 Sep 2022 14:04:07 +0000

Do y’all recall when inflation was “transitory?” When the Secretary of the Treasury and the POTUS used to assure us that inflation was going to come and go? That the target would continue to be 2% – which, in fact, it had been? Well it’s more than a year later and, clearly, that is not […]

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Testing The Depth Of American Stupidity

Big Red Car — Thu, 11 Aug 2022 11:29:27 +0000

Yesterday, the Consumer Price Index report came out showing that the CPI increased by 8.5% (seasonally adjusted) year-over-year. This means that the CPI is 8.5% higher than it was in July 2021. Wages were 5.5% higher, so you only lost 3% in buying power. Haha. Sorry. [I personally find this incomprehensible as every commodity and […]

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The Grinding Pound of Inflation

Big Red Car — Thu, 12 May 2022 13:50:58 +0000

Ten minutes ago, the Bureau of Labor Statistics released its Producer Price Index numbers for April 2022 – this is, of course, a month in arrears. The print was 11% meaning the cost of final demand goods from producers was up 11% when compared to April 2021. These are Jimmy Carter numbers. This is the […]

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Governors and Jobs — The Big Tell

Big Red Car — Wed, 02 Feb 2022 15:46:01 +0000

Lousy jobs report coming out on Friday showing the United States lost more than 300,000 jobs in January 2022. Hello, America! Not good. The White House is working overtime trying to come up with some explanation as to why the “fastest economic growth in nearly four decades” misses the mark by more than 500,000 jobs […]

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The Power Shift — Workers Of The World Unite — Inflation

Big Red Car — Wed, 15 Dec 2021 15:20:33 +0000

In the changing world in which we live, even the most Old School manufacturing companies are finding themselves having to change their ways to find, hire, and retain workers. John Deere makes farm and construction equipment and its work force is unionized under the United Auto Workers. Production lines at Deere are hard places to […]

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The Inflation, CPI, PPI, Earnings Boogie

Big Red Car — Tue, 14 Dec 2021 00:45:32 +0000

I think everyone in the United States understands we have entered a period of increasing prices — inflation. Nobody thinks it is actually going to be transitory. Even the Biden admin says it’s going to be here through the end of 2023 after suggesting it would magically disappear by the end of 2021. Nay, not […]

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Inflation Is NOT A Headfake

Big Red Car — Fri, 03 Dec 2021 21:36:55 +0000

It is too late already to unleash any definitive knock out punch against inflation. Damn it, it isn’t TRANSITORY. Stop that nonsense. It is here; it is deep; it is pervasive; and it isn’t going away any time soon. Let me tell you why I think it is deep. It is embedded in commodities. [Rod […]

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