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21 sats \ 0 replies \ @faithandcredit 18 May 2022
this is fine
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21 sats \ 0 replies \ @KingZing 18 May 2022
I really don't understand why Elon thinks money printer is causing inflation, when most of it comes down to extreme chaos in manufacturing.
Even packaging is increasing like 10-20% because of transport and then no one has any clue how much to buy to stock up.
We reserved an entire year of one chemical and had to rent an extra warehouse for it just to make sure we can at least keep the production line going.
Then boom, Shanghai lock down, the entire shipping sector get hit again and the good produced missed the seasonal shelfing window.
I have no doubt some industries are having it worse, especially those that still need to go to elsewhere for further assembly.
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21 sats \ 1 reply \ @TheBTCManual 18 May 2022
9% is nuts, have they released the PPI numbers in the UK yet? Would like to know what the front running inflation will be like for local produciton
Having such a massive economy, still reducing their numbers through hedonic adjustments and its still nearly double digits is frightening, I don't think people realise what these numbers mean, they are numb to it.
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20 sats \ 0 replies \ @JustSomePleb OP 18 May 2022
Yep, I actually know people blaming Putin for it as well. This has been building for many years and I am amazed that the central banks are pretending to be surprised. I think it's an act to try and cover their major contribution to the situation.
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22 sats \ 1 reply \ @ember 18 May 2022
There was a Bank of England committee meeting the other day with MPs, the BoE governor and other members of his team that has some really interesting insights. A few of my takeaways:
- Autumn forecast is for double digit CPI.
- Incoming food crisis is really really really bad ("apocalyptic" scenario in the governor's words).
- Some number above 400 thousand of labour has not returned to work. Participation rate is down and not recovering like it did during GFC.
- Something above 300 thousand of those are due to long sickness, the exact cause of which is not known. Speculation is long covid or people with prexisting conditions refusing to go back to work.
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22 sats \ 0 replies \ @KingZing 18 May 2022
This is imo the most concerning meeting yet, almost like the world is sliding into depression.
Now that China's macro number is looking pretty poor, I wonder how long until things get better.
An entire generation of new fresh grad who probably got delayed due to covid and now facing a recession is pretty damning to think about.
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4 sats \ 0 replies \ @JustSomePleb OP 18 May 2022
You know what to do plebs!
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2 sats \ 1 reply \ @ExponentialBTC 18 May 2022
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20 sats \ 0 replies \ @JustSomePleb OP 18 May 2022
Yes, I think this concept is lost on many. Some know about compounded interested on savings or investments but don't consider the reverses effect on purchasing power with inflation.
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