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

MarkLavagne

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Just spent a month in WA, and what I have to say, you guys are blessed in US- although gas price went up from $4.5 to $5.5 while I was there, it's still nothing compared to what I pay in Singapore. Current price here is almost $3/l, which gives us $13 per gallon.

Nothing critical will happen - gas prices will push middle/low income families further towards very poor.
 
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Kak

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MJ DeMarco

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I'd love to hear more about the whole "measured properly" piece there. What is that referring to?

Suggests that real inflation is more like 15-19%, which IMO, is more reflective of the reality on the ground. Every price increase I encounter is not 6%, it's 15-20%.
 
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NeoDialectic

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I'd love to hear more about the whole "measured properly" piece there. What is that referring to?
He is likely referring to measuring it the way it used to be measured in the 80s versus now.

There are alot of good reasons to measure it one way over the other, without necessarily injecting a backstory of a secret cabal of suits trying to fool everyone.

If I remember correctly, some of the changes they made is that they now they consider substitutions. So roughly speaking.....If the Big Mac went up 20% but people just buy Whoppers instead because of that change and Whoppers only went up 5%... They would consider inflation to be 5%..... As an avid Big Mac buyer you are looking at them like they are crazy, as it is clear to you the Big Mac you buy is 20% higher. But in their point of view, you can get everything the Big Mac gives you in a Whopper and according to statistics people have in fact on average just switched to Whoppers. So it makes sense to them to use 5%...... Again...Both perspectives have their good points if you actually know the thought process behind them and don't just use caricatures of them. Whats the point of seeing how much more expensive or cheaper a landline costs these days when everyone just uses cell phones?

Another thing to keep in mind is that it's literally some peoples business to keep you scared and thinking inflation is going to hyperinflation at any second. It's no coincidence that Peter Schiff (guy in the tweet) makes a big portion of his money in Gold related sales.....
 

YanC

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"Inflation is subsidizing worthless expenses with money that doesn't exist" - Jacques Rueff, French economist (20th century).

This quote sums things up so well from the perspective of someone living in commie France. Not sure if it makes sense from the US and the rest of the world, but it sounds so spot on here.
 
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Koen_88

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Just a few examples from the Netherlands here:
  • €2.50 / L ($9,85/gallon) for gas. which was €1.91/L (7,53/gallon) a year ago.
  • I am seeing prizes in the supermarket rising on a weekly basis. Costing me €50 to €80 more a month (I cook for myself 6 of the 7 days a week)
  • Supplements also on the rise: whey proteine from €16.90 to €25.99 in a year.
  • Beer in cafés raised prices ranging from +€0.30 to +€0.50 cents op top of what the price was. And festivals even more. Costing €3,50 for a (0.3L) glass.
  • At my slowlane job (engineer) steelprices for stainless steel and aluminium are ranging to +12% to +18%.
And thats reflective for the most things that money can buy.
 

Xeon

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Have a feeling a black swan event is going to come if this continues.
 

Claymore96

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In my country (Germany) inflation is over 8.1 %. Many products are at least 20% more expensive. I can't afford anymore to eat out in a restaurant with my social security money. People like me should consider buying food only from the supermarket, so they can invest in themselves or if the health is bad they can invest in a gym membership. (gyms are cheaper in Germany and not far away from ones home)
 
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srodrigo

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In my country (Germany) inflation is over 8.1 %. Many products are at least 20% more expensive. I can't afford anymore to eat out in a restaurant with my social security money. People like me should consider buying food only from the supermarket, so they can invest in themselves or if the health is bad they can invest in a gym membership. (gyms are cheaper in Germany and not far away from ones home)
I stopped ordering takeaway in London from Just Eat and similar sites. I used to get pizza once a week, now it's 23 more quid for an order that used to be around 18. What a ripoff. I can afford it, but WTF, no way. I'll take the opportunity to cook more and eat healthier 2 more evenings.
 

MitchC

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Get ready for the food shortages they’ve been promising. Unless you want to eat bill gates gmo soy, micro plastic and seed oil fake meat with a side of klaus schwabs bugs.

10,000 healthy cattle die in a heatwave? The entire farm? In a place no hotter than any other year? Not even a particularly hot place? Australia, Texas, Arizona etc all hotter than this. The whole 10,000 dead? Food manufacturing plants burning to the ground everywhere you look. Buckle up.
 
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MJ DeMarco

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Interesting that excess money printing is what causes inflation in most countries. But what happens when every country is recklessly printing money? Or is this really a supply-chain issue, a chain-reaction due to higher input costs (and lesser supply) for things like crude oil?

FT_22.06.08_GlobalInflation_1.png
 
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socaldude

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Koen_88

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Interesting that excess money printing is what causes inflation in most countries. But what happens when every country is recklessly printing money? Or is this really a supply-chain issue, a chain-reaction due to higher input costs (and lesser supply) for things like crude oil?

I think that for a lot of things in Europe it's more of a supply chain issue.
Russian oil ban = higher prices for fuel = higher transport costs for the supply chain.
Russian gas ban = higher energy prices for electricity = higher operating costs / manufacturing costs for the whole chain.
Conflict in UKR = Higher prices due to a disrupted chain, a lot of raw materials arent getting over the border since main transportation lines are disrupted through the occupation of harbours in the black sea.

All of those are leading to a higher beer price ;-)

But also chip prices are increasing since last year due to Covid and a water shortage in taiwan I thought? So that's still leading to shortages in chips leading to shortages from electronic drives to computer components (and PLC's). But that seems to be stabilising a bit now. Or at least the price of GPU's has dropped a few percent.

But Turkey (or Türkiye according to the UN now, lol) is definitely not the same. Erdogan keeps interest rates on the same level for a while now and does not want to increase them. Normally the economists want to increase rates to battle more inflation. But Erdogan wants none of that. So he has it backwards according to western economists.
 

Jadus

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I'm definitely seeing the results of inflation in my eCommerce business that's located in the USA. I won't go into details but it's a niche that uses a lot of metals. The end of last year and all this year, it's been one price increase from my suppliers after another. Of course, I have to raise my retail prices as well.

It's not just the products but the shipping costs have increased also. On many products that I offer free shipping on, I've either had to accept a much lower margin or increase the price even more to make up the difference.

Here in Thailand where I live, food prices have increased somewhat but not too bad. The gas pump is where you really feel the pain, just like other places. We used to fill up the car for 700 Thai baht. Just the other day I paid 1000 baht and it didn't even fill the tank, which still had a little less than 1/4 left.
 
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GPM

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Interesting that excess money printing is what causes inflation in most countries. But what happens when every country is recklessly printing money? Or is this really a supply-chain issue, a chain-reaction due to higher input costs (and lesser supply) for things like crude oil?

FT_22.06.08_GlobalInflation_1.png
Wow Turkey! I hope they are okay. Admitted inflation that high... I don't even want to think about it
 

MJ DeMarco

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MJ DeMarco

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Do people here think these single digit inflation numbers are accurate?

People here, as in the forum? I don't think so. I contend it is 15-18%.

In general, the rest of the country believes the numbers because they believe whatever the media/government tells 'em.
 

MoneyDoc

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Worst part, economists predict no recession! Lol. I expect stagflation.
More like "dragflation" as Gerald Celente likes to say. Drop in growth + increased inflation.

I guess we are too getting the magical 0.75 hike soon from Bank of Canada.
 
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jdm667

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Do people here think these single digit inflation numbers are accurate?
I do not. The U S. government has to give social security raises in line with inflation.

If inflation is 14%, but they only admit to 8%, they won't get killed on social security costs.

If they claimed 2%, no one would believe that. So, they split the difference, play with the numbers, and claim 8%.
 

doster.zach

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All you have to do is use the 1980s calculation. Inflation in the USA is around 16%.
I'm assuming youre talking about the cost of goods calculation?

I haven't looked at it myself, but I've heard they just are removing things from the calculation when it boosts the costs by too much.
 
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Fox

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For those of you with cars that are now way up in price - are you thinking of selling?

I am tempted to offload what I have and just free as much cash up as possible for any incoming deals on property.
 
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MTF

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For those of you with cars that are now way up in price - are you thinking of selling?

I am tempted to offload what I have and just free as much cash up as possible for any incoming deals on property.

Once you sell, I got you a sweet new ride:

611bt-EPozS._AC_SL1500_.jpg
 

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