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HOT TOPIC Hyperinflation starting? What's happening in your area? Post your ground reports.

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strobe

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Here in New Zealand.

I can only speak about what I see from day to day as opposed to statistics.

Food seems to be up at most places around 10 - 20%
Petrol is still the same expensive ($NZD $2.09/L)

There was already a housing crisis the past 6 - 7 years here and this has made it much worse here.

The gov here lowered reserve bank rates to 0.25. Lowered loan to value ratios and basically tried to shift it so that house prices did not go down...

Well they shot up around 30% in the past year so now in Auckland and Wellington which have median values of 1.1 million NZD (800,000 USD), so you basically have to drive around an hour and a half to find anything under 500,000.

Houses rising 400,000 in 6 months are common.

Highest rate of homelessness in the OCD here.

Families living on top of families, paying $300 a week just for a room with 5 housemates you are lucky.

New Zealand gets looked at from the outside as the place that has done well, but in reality for most people, the pandemic has actually added on another 10 - 15 years to their working life to save/pay off future debt for the prices they are paying just to have a roof over their head.
 

thechosen1

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struka

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In my industry, industrial automation, we are seeing higher prices due to rare earth metals coming from China. That's where most of rare earth metals come from to be used in electric motors. It is not the only place but has been used due to cost.

My company automates factories and most of our clients are looking into increasing production by automating it due to a bottleneck. Places, where workers in a production line were side by side pre-C0VlD, have changed due to social distancing. To automate a process that was manual takes time since the hardware has to be manufactured as items (motors, drives, robots, etc) are not stocked, but never have been. Typical pre-C0VlD lead times have been 4-6 weeks but with the supply chain issues, we are seeing double. That's just on the hardware, next you need our engineering to program and make it work with the current system which also takes time.

At one point last year, certain meat processing facilities couldn't keep up with production due to social distancing and lack of employees. Slaughtered animals were being delivered but processing couldn't keep up so they threw out raw meat because of no place to store it, all during the shortage of meat in stores. They ended up changing their process of packaging which decreased the amount of waste.
 

Lyinx

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In my industry, industrial automation, we are seeing higher prices due to rare earth metals coming from China. That's where most of rare earth metals come from to be used in electric motors. It is not the only place but has been used due to cost.

My company automates factories and most of our clients are looking into increasing production by automating it due to a bottleneck. Places, where workers in a production line were side by side pre-C0VlD, have changed due to social distancing. To automate a process that was manual takes time since the hardware has to be manufactured as items (motors, drives, robots, etc) are not stocked, but never have been. Typical pre-C0VlD lead times have been 4-6 weeks but with the supply chain issues, we are seeing double. That's just on the hardware, next you need our engineering to program and make it work with the current system which also takes time.

At one point last year, certain meat processing facilities couldn't keep up with production due to social distancing and lack of employees. Slaughtered animals were being delivered but processing couldn't keep up so they threw out raw meat because of no place to store it, all during the shortage of meat in stores. They ended up changing their process of packaging which decreased the amount of waste.
so, let me get this straight - they are eliminating humans working on products? and rather working on automation?

if that's true, it will lead to eventual lower prices and better living all around.
 

MitchC

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so, let me get this straight - they are eliminating humans working on products? and rather working on automation?

if that's true, it will lead to eventual lower prices and better living all around.

Sounds more like another factor for a k shaped recovery.

same or higher prices but lower costs due to automation making more profit for business owner.

Less jobs for everyone else due to automation
 

SamRussell

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Sounds more like another factor for a k shaped recovery.

same or higher prices but lower costs due to automation making more profit for business owner.

Less jobs for everyone else due to automation
Automation leads to an increase in jobs.
 

Antifragile

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And general prosperity.
I’m not sure either of those statements are true.
Automation means fewer jobs, meaning less employees making money to prosper. That’s the big issue with automation.
But if you add education and training for the newer and higher paying jobs + automation, then I agree.
 

Kak

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I’m not sure either of those statements are true.
Automation means fewer jobs, meaning less employees making money to prosper. That’s the big issue with automation.
But if you add education and training for the newer and higher paying jobs + automation, then I agree.
That’s the popular opinion.

The reality is very clearly painted throughout history, technology (not in the modern sense, but the productive progress sense) creates prosperity.

We have never had more technology that makes jobs easier and less burdensome than we do right now… It also takes less labor than ever before to buy a home, have two cars, go on vacation. People find their place, and their place will be less and less burdensome for more and more pay.
 

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@Kak
I think we are saying the same thing. But I’m trying to clarify that:
1. Automation loses jobs that were just automated. To get new jobs, you need education and training. Think self driving cars and trucker unions.
2. Technology leads to prosperity, absolutely! We live in the most prosperous time. Only 1/7 of the population of the world is in dire poverty (think no toothbrush etc.). Just 50-60 years ago that number was half of the world population! And we still think of the world as “developed” and “developing” nations. Which is totally false today. It’s more like 4 levels and most have gone through transformational change.
 

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MJ DeMarco

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Yes, there is no inflation. Absolutely none.

See, here's a link to the Federal Reserve that proves it!
BeCaUasrE tHe Cpi saYs thErsnoT
 

thechosen1

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BeCaUasrE tHe Cpi saYs thErsnoT
"we only printed about 4-5 trillion dollars. What's a little $100 million to my political buddies??"
 

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LOL 2021 GDP is gonna be massive. And everyone is gonna say it’s because of a “hot” economy. Not because of real productivity or growth. They don’t teach you that in school.
 

thechosen1

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I was thinking a little more about inflation, and who really benefits.

Obviously we've heard up, down, forwards and backwards how great inflation is for those who own real estate with high leverage (I personally like being able to sleep at night, but this strategy obviously can work).

But then I read this article about AT&T and realized this is probably a much larger concerted corporate effort than we all think, with deeply indebted companies sending lobbying for the Fed to inflate the currency as much as possible as another means of "bailing out" failing companies:

Far-fetched? Or common sense corporate strategy, from their POV?

I'd go with the latter.
 

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Far-fetched? Or common sense corporate strategy, from their POV?

Doesn't ATT own CNN?

Would it be in their best interests to scream and cry "inflation!" like they did C0VlD-19 for the last year?

Probably not.

The corporate media only reports what is good for their stakeholders, not for the general public. The fact that people call it "news" is laughable. . . it's nothing more than a mouthpiece of the political class.
 

thechosen1

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Doesn't ATT own CNN?

Would it be in their best interests to scream and cry "inflation!" like they did C0VlD-19 for the last year?

Probably not.

The corporate media only reports what is good for their stakeholders, not for the general public. The fact that people call it "news" is laughable. . . it's nothing more than a mouthpiece of the political class.
BINGO!

Yes, ATT owns CNN and Comcast owns NBC / CNBC.

Those memes about the farmer and the wolf working together...very accurate.
 

door123

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ard up, down, forwards and backwards how great inflation is for those who own real estate with high leverage (I personally like being able to sleep at night, but this strategy obviously can work).
Doesn't ATT own CNN?

Would it be in their best interests to scream and cry "inflation!" like they did C0VlD-19 for the last year?

Probably not.

The corporate media only reports what is good for their stakeholders, not for the general public. The fact that people call it "news" is laughable. . . it's nothing more than a mouthpiece of the political class.
True, but who are ATTs lenders? Bank of America JP Morgan ? Aren't they losing out as a result of inflation. Are they no lobby the gov?
 

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Ok, so we've kind of came to agree that there's hyperinflation.

What now? That's the only important question. How do we protect our assets?

Gold? Silver? Real estate? Crypto?
How about dividend paying stocks?
What else?

Also, which fiat currency do you deem the safest/most stable? I keep most of my fiat in EUR.
 
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The corporate media only reports what is good for their stakeholders, not for the general public. The fact that people call it "news" is laughable. . . it's nothing more than a mouthpiece of the political class.
The freedom of the press is the freedom of its owners to advance their personal and class interests. - Lee Kuan Yew

Also, which fiat currency do you deem the safest/most stable? I keep most of my fiat in EUR.
SGD?
 

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Also, which fiat currency do you deem the safest/most stable? I keep most of my fiat in EUR.

I've put a lot in the Swiss Franc and allocated to both physical and proxy real estate.
 

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BeCaUasrE tHe Cpi saYs thErsnoT

Once the economy opens up, I think we will see people sell their investments and flex all those mad gains.

Then when they see and experience the inflation, they will realise it was a dumb idea.

But there is no inflation anyway as the CPI is saying there isn't.

No one would lie to us.
 

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