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Inflation - Prices are going through the roof

WhatExit?

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Raw materials are skyrocketing and there's no let up in sight. Steel, zinc, aluminum and everything else is going up so high the charts look like Mount Everest.

This is a global issue and it seems to be a runaway train now.

Here's today's aluminum price chart...

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Flying_Lavey

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I just bought over $20k worth of spiral pipe and am paying to rent a storage container on one of my jobs to try to avoid any more price hikes for steel. It is already 3x the price when the job was estimated. If I am correct in my thinking, that decision will hopefully have saved us up to $10k at the rate the prices are increasing and the rate the job is progressing.
 

J DUNN

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We bought a bunch of extra stock of cabinet hardware last year and are selling it now for 3X what we paid for it. Just sold 50 pairs of drawer slides for $50 each, we paid $17. Supply and Demand issue is driving this particular hardware price increase. Nobody can get the slides for 12-16 weeks.
 

WYRD

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I absorbed material losses well into the six digits on my jobs. Copper, aluminum, steel, and PVC prices have all skyrocketed anywhere from 80% all the way to 300% over the average market price pre-pandemic. My fuel Bill year-to-date it's already 50% higher than last year. On top of that wages just keep going up while it seems like talent pool keeps going down.(or employees just don't care anymore)

I know they say save for a rainy day but this sure feels like a Hurricane, not sure how long the storm can be weathered.
 

nameisbond

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I was out for Japanese with my Dad. We always order the same thing. Our standard order before tip was around $66 and the same order is now $88. Not surprised Bloomberg said seafood prices are up 12.5%. Buy things now and store for later. Its only going to get worse. As we learned in the 1970's, once inflation gets rolling its near impossible to control. I.e. bring back down. This will raise interest rates as well, if on a variable interest rate, better refinance now and lock in a low rate.
 

Bigbore500r

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We bought a bunch of extra stock of cabinet hardware last year and are selling it now for 3X what we paid for it. Just sold 50 pairs of drawer slides for $50 each, we paid $17. Supply and Demand issue is driving this particular hardware price increase. Nobody can get the slides for 12-16 weeks.
Cause they're sitting on a boat off the shore of longbeach
 

J DUNN

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Cause they're sitting on a boat off the shore of longbeach
Yes, most stuff is. These are euro and manufacturer is behind on production due to shut downs so there is allocations put on every distributer which trickle down to us. Manufacturer is saying don't expect normal qty of stock available until end of 2022. So maybe a bit more than just the port issue but I'm sure that's some of it.
 

TCHB

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This has been going on for the last 18 months at least. Remember wood prices?
 

Bigbore500r

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Gas is at a 7 year high!

Absolute worst presidency in my lifetime. Everything given to this dipshit on a silver platter and he proceeds to royally fuck it up in what may be literally record time.
Whats impressive is that he managed to fuck it all up in 8 months!
I think that's a new presidential record
 

Ballsdeep

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News reports that its going to be an expensive winter too- natural gas, oil, and propane prices are rising steady.

It kind of feels like the government wants you to sit home and mooch off the government tit because everything is in shortage and outrageously expensive.
 

TCHB

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Who do you think controls oil prices? Last year when usage was way dow prices were also low.
 

boatdoc55

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I was out for Japanese with my Dad. We always order the same thing. Our standard order before tip was around $66 and the same order is now $88. Not surprised Bloomberg said seafood prices are up 12.5%. Buy things now and store for later. Its only going to get worse. As we learned in the 1970's, once inflation gets rolling its near impossible to control. I.e. bring back down. This will raise interest rates as well, if on a variable interest rate, better refinance now and lock in a low rate.
Can't wait for HIGHER Interest rates!!!!!!!!!!!!! I don't owe a thing to anybody and don't plan on borrowing be an old guy but I
'd love to see my holdings go up in my high yield accounts. Bring back the 7%!!!!!!
 

DaveC

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I knew this was gonna happen this is why I bought another house with a loan. Now I can sit back and enjoy that..
 

Cdog

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Biden will give around 70M retirees a 5.9% boost in Social Security payments in the biggest cost of living adjustment in 39 years - to keep up with rampant inflation under his administration​

  • Social Security Administration has not raised benefits so drastically year-over-year since 1982
  • Social security checks will raise 5.9%, about $92 for the average retired worker, in a shocking display of inflation
  • A typical retired worker will now receive $1,657 a month starting next year
  • To account for the added cost to taxpayers, the Social Security tax will be applied to earnings up to $147,000 in 2022, up from $142,800 this year
  • The increase will hit the paychecks of 12million high-income workers
 

HB2Havasu

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Can't wait for HIGHER Interest rates!!!!!!!!!!!!! I don't owe a thing to anybody and don't plan on borrowing be an old guy but I
'd love to see my holdings go up in my high yield accounts. Bring back the 7%!!!!!!
The Federal Reserve has now positioned themselves into a corner. High Inflation and 0.5% Interest Rates with an economy that’s slow from a worker shortage and inventory shortages following the Scamdemic. Double Down you have an administration that is spending money like a drunken sailor causing even more inflation and wanting to tax corporations to the point they are going to move offshore. Normally you would just raise interest rates to combat inflation to slow a hot economy. I’m afraid there’s not much they can do without causing a new depression 😱. I think we’re all fucked. I have 99% of my investments leveraged in inflation safe arenas. I would look at where your $$$ is. It’s going to be a wild ride the next 3 years !!!
 
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HotRod82

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Well, I'm in the same boat as you, but I sure as hell am enjoying watching them squirm.... Burn mother fucker, burn......

View attachment 1058568

Man I hate to admit it but I’m rooting for every Biden voter to go Bk. Unfortunately, I know a lot of good hard working people are going to get hurt in the process.
 

zhandfull

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Gas is at a 7 year high!

Absolute worst presidency in my lifetime. Everything given to this dipshit on a silver platter and he proceeds to royally fuck it up in what may be literally record time.


Gas on my way up 395 to Nevada. Six dollars for the good stuff.
 

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Looking Glass

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Putin, said today he believes over $100.00 per Barrel Oil. Sure it will, "bozo" gave you a Freebie to do what and Charge what you want.😤
 

CarolynandBob

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I think Carter and Obummer helped get Joe in, so they would be considered the worst presidents ever.
 

Chili Palmer

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All this shit is going on and nobody is calling Biden out on this crap. If any of this happened when Trump was president he'd be drawn and quartered by the press & media. Why is Biden getting a pass?
 

angiebaby

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Gas on my way up 395 to Nevada. Six dollars for the good stuff.
Prices in Lee Vining and Bridgeport don't count. They are almost always $5-$6/gallon. Even when it's $2.50 everywhere else. Been that way for decades.
 

YeahYeah01

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x 10 trucks x 1-2 weekly fillups x 4weeks = 🤢 every month
I haven't set down and down the math on the extra fuel costs because I almost don't want to see it.

Field crews we have about 10 trucks running minium 5 days a week sometimes 6. Some bigger box trucks and smaller cargo vans. I bet the average mpg is about 12 and most are going over 200 miles a day. Plus sales vehicles and management.

We gotta be spending an extra 8k a month. Sucks.
 

angiebaby

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I read an article this morning celebrating how consumer spending had increased last month and that was a sign that the economy was not so bad. It implied that more people are going out to eat, or more often, and purchasing more goods. People aren't getting "more" of anything. They are getting less and paying more. That was left out of the article. Eventually, the motor of the world will stop.

Who is John Galt?
 
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MPHSystems

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I normally pay right about $10/stick for EMT, Tuesday I picked up 5 sticks from the wholesale house, $32/stick. That’s more than I pay for 1” GRC.
 

nameisbond

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They say transitional, so people don't panic. Saw on Bloomberg industrials are up 12.5% in Canada. That's going to be passed down to consumers. Ran into a store and noticed a box of 100 assorted mini chocolate bars are $21. Few days ago same box was $11.99. I was going to buy some for the kiddos and took mental note of the price.
 

02HoWaRd26

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Gas is at a 7 year high!

Absolute worst presidency in my lifetime. Everything given to this dipshit on a silver platter and he proceeds to royally fuck it up in what may be literally record time.
By design
 

nameisbond

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High gas prices under Obama fueled electric car sales. That's why the green left demorats like high gas prices, forces more into electric cars.
 

Dennis-19

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This is how they (puppet masters) get what they want. They want masses to be poor, to spend all they make on life's necessities so they can maintain and gain power and control over the masses.

The Federal Government does not represent the tax payer, they represent their masters who are worldwide and they steal from us to fund their agendas. Inflation is a tool they use to steal more wealth from the public.


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The military works from them, not us.

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