Boots & Sabers

The blogging will continue until morale improves...

Owen

Everything but tech support.
}

2211, 28 May 21

One Look at Inflation

You cannot print trillion of dollars and pump them into the economy without an impact. The impact is that all of us are spending more just to get by.

Don’t tell Costco executives that inflation is low.

 

The big-box club chain said it’s been seeing accelerating prices across a range of products, including shipping containers, aluminum foil and a 20% spike in meat prices over the past month.

“Inflationary factors abound,” CFO Richard Galanti said on the company’s fiscal third-quarter earnings call Thursday.

 

“These include higher labor costs, higher freight costs, higher transportation demand, along with the container shortage and port delays … increased demand in various product categories some shortages, various shortages of everything from chips to oils and chemical supplies by facilities hit by the Gulf freeze and storms and, in some cases, higher commodity prices,” he added.

 

Costco reported a profit of $2.75 a share for the period, well above Wall Street estimates. It also saw revenues of $45.3 billion that also beat the Street, which had been looking for $43.6 billion.

}

2211, 28 May 2021

9 Comments

  1. steveegg

    Stagflation Part Two – Electric Boogaloo anyone?

  2. dad29

    Trump started this inflation crap. Bai-Den’s impact will be felt in about 90-180 days, so it’s going to get a LOT WORSE soon.

  3. Mar

    In the County I live in Arizona, we have have been going a building boom of new houses. Numerous subdivisions have been going up, but no more.
    Most construction has stopped and no new houses are being built.
    All this has happened since January 20, 2021.

  4. Le Roi du Nord

    Well, up here houses are popping up like mushrooms, in spite of the 35% spike in the cost of building materials, which started long before 1-20-21.

  5. Jason

    >in spite of the 35% spike in the cost of building materials, which started long before 1-20-21.

    Better check your math….. far larger spike than 35%. Oh and while you’re doing that homework, you should look at the price on Nov 6th and today…. it’s closer to 100% spike since that date.

  6. dad29

    To LeeeeeeeeeeeeRoy, facts are like a silver crucifix to demons. He’s not likely to return to this thread soon…..

  7. Jason

    Dad, yep, I’m quite used to him ducking and running. He probably has a shovel to lean against.

  8. Jason

    Hey Leroy, want to have an accurate stat that has also gone up since 1-20-2021? Detainment of illegal aliens at the Southern Border. We’re over half a million already since Joe took office, and March matched the highest number of arrests in the last 20 years. But don’t say “Crisis”.

  9. Mar

    Gas price 1-20-21 in Golden Valley AZ: $1.79
    Gas today: $3.15 a gallon and climbing.
    Cheapest in our area.

Submit a Comment

Pin It on Pinterest