Economy

:lol:
I may have just come across the most clueless buyer/purchasing agent ever.

We sell some components (like hydraulic cylinders) to many different customers (primarily the big 4 meat producers). The buyer, located in India (yes for a US based location) sent me an order with pricing from 2015. I sent him the correct current price, a 43% increase, and asked him to send me a corrected PO. He replies that its a 43% increase and he wants to know why.  :lol:  Hello, McFly….WTF. I told him maybe it was because that price was from 2015 and, if he hadn’t noticed, more recently steel and transportation costs have been rapidly increasing.  :facepalm:
 

I don’t care if he buys it from me or not. It’s pretty special and goes on proprietary equipment only we build. He can’t get one anywhere else without having custom machining done. Have fun running that critical piece of your production equipment without it  :lol:

 
Born N Bled Red said:
The companies that decide inflation are global corporate conglomerates that are able to enforce their greed across the globe. 

These companies are harvesting any increase in wealth provided by wage increases and stimulus during the pandemic, leaving less wealth for people to purchase non- necessity items, causing the future earnings for those companies to look like they might decline. People having more money does not lead to inflation. Raising prices to harvest that money does. (Shortages come into play, particularly when it comes to gas, as well.) 
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People having more money is one of the main causes of inflation. Part of the reason shortages can occur is more people are able to purchase more things so the demand is higher than the supply. Some companies do take advantage and that is another factor, but it's ignorant to ignore the others. I also think that while there are examples of greed, you're also conflating supply and demand with greed. Production in some areas ground to a halt due to Covid. Due to this supplies became low, e.g. with lumber. When there is short supply, people try to outbid each other. It isn't greedy to sell something to a higher bidder. It's smart.

Lastly, whether corporate greed caused inflation or something else did, (or in reality, a combination of things did), it's still called inflation.

 
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teachercd said:
So right now, for the stuff you all purchase on the regular...what have you noticed as the biggest price increase?  Not counting gas.
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I don’t go there often, maybe once every 2-3 week for a sausage egg McMuffin, but McDonalds sure isn’t missing any price increases. It’s like $12 for crappy burger, fries and drink. Around here you can still go to a decent restaurant and get an actual good meal in the $12 to $18 range.

The biggest increase I’ve noticed is for an oil change. Not long ago it seems it was $45-$55. My last one was $75 (with a coupon). The time before that it was $105. 

 
JJ Husker said:
I don’t go there often, maybe once every 2-3 week for a sausage egg McMuffin, but McDonalds sure isn’t missing any price increases. It’s like $12 for crappy burger, fries and drink. Around here you can still go to a decent restaurant and get an actual good meal in the $12 to $18 range.

The biggest increase I’ve noticed is for an oil change. Not long ago it seems it was $45-$55. My last one was $75 (with a coupon). The time before that it was $105. 
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Dude, great call on the McDonald's increase!  

Just had a student tell me today "I will never work for minimum wage again, it is just so easy to get so much more"

She works at a Crumbles, which is a cookie place...makes 20 an hour (that is with tips)

 
teachercd said:
Dude, great call on the McDonald's increase!  

Just had a student tell me today "I will never work for minimum wage again, it is just so easy to get so much more"

She works at a Crumbles, which is a cookie place...makes 20 an hour (that is with tips)
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I don’t think any of the fast food places, or anywhere really, is paying minimum wage. They can’t get help. Seems most fast food places have signs advertising $16-$18/Hr starting. The ones that aren’t a complete s#!tshow are likely $20 just to stay open.

 
Moiraine said:
People having more money is one of the main causes of inflation. Part of the reason shortages can occur is more people are able to purchase more things so the demand is higher than the supply. Some companies do take advantage and that is another factor, but it's ignorant to ignore the others. I also think that while there are examples of greed, you're also conflating supply and demand with greed. Production in some areas ground to a halt due to Covid. Due to this supplies became low, e.g. with lumber. When there is short supply, people try to outbid each other. It isn't greedy to sell something to a higher bidder. It's smart.

Lastly, whether corporate greed caused inflation or something else did, (or in reality, a combination of things did), it's still called inflation.
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Re: lumbar specifically (and probably various other sectors as well) aren't tariffs another issue?

They're one of those things that are popular politically that wind up just increasing the cost of goods. It just winds up being a tax paid by us.

 
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teachercd said:
So right now, for the stuff you all purchase on the regular...what have you noticed as the biggest price increase?  Not counting gas.
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2 years ago eggs at Aldi were 77 cents. Now they're almost $3... A lot of that is due to avian flu, as well as increased freight charges (due to diesel being so crazy)

Protein powder and creatine are at least double the price from 2 years ago as well.

 
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