oldbmwfan
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- Oct 19, 2016
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Spikes and dips are supply crunches, not inflation. When the prices self-resolve as fast as they go up, that's not inflation because it has nothing to do with the purchasing power of the currency. There's also the "minor" problem of comparing prices vs 12 months prior, when 12 months prior many of these commodities were crashing as building halted, spending dried up, and there was an oversupply situation. YoY changes when the baseline year is completely anomalous are meaningless.Sorry, with all due respect. All this talk of inflation being transient and 2-7% is a joke.
I run a business that manufactures steel framing and components. Steel was $.38 lb in March 2020. It is now $1.20 lb. Wood, plastics, resins, transportation, etc and many other costs have EXPLODED. Try like 300%. The real inflation that is going on, right now, has never been seen before. Not only have prices gone FKN crazy, there is very little material to buy, shortages everywhere. I am 60 YO. This is the worst inflationary period I have ever been through x 10.
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