This is the report that article is based on. Read it and see if it ties at all to the article. Basically says although people say they are worried about inflation 401k contributions are strong. fidelityworkplace
‘Greedflation’ study finds many companies were lying to you about inflation Inflation soared across the globe last year, peaking near 11% in the eurozone and above 9% in the U.S. The source of that high inflation has become a well-trodden line. Analysts have typically laid the blame on supply-chain bottlenecks created by excess demand during the COVID-19 pandemic and exacerbated by Russia’s invasion of Ukraine. The war also increased energy prices, leading to further rises in inflation as suppliers factored in higher transport and running costs. While this obviously contributed to rising prices, the report finds that company profits increased at a much faster rate than costs did, in a process often dubbed “greedflation.” Profits for companies in some of the world’s largest economies rose by 30% between 2019 and 2022, significantly outpacing inflation, according to the group’s research of 1,350 firms across the U.S., the U.K., Europe, Brazil, and South Africa. In the U.K., the research found that 90% of profit increases occurred among just 11% of publicly listed firms. Profiteering was more broad in the U.S., where a third of publicly listed firms were responsible for most of the increase in profits. Here is a link to the actual study for those who are interested- https://www.ippr.org/files/2023-12/1701878131_inflation-profits-and-market-power-dec-23.pdf
"A Constant State Of Sticker Shock" – Here Is Proof That Inflation In The US Is Wildly Out Of Control | ZeroHedge
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Gas prices around here have fallen through the floor the last couple of weeks - Now down below $2.40 last I checked, which bodes well for Dec CPI. It is interesting how long and how sticky the cpi housing index is and lags various rent price indexes which have fallen much faster.
As I’ve mentioned numerous times, it isn’t necessarily surprising that supply shortages and money supply expansion /demand increases can lead to inflation in profits, at least for a while.
Then again, there's the "bad" news Hourly earnings increased nicely in November AuthorKevin DrumPublished onDecember 12, 2023 – 9:48 am1 Commenton Hourly earnings increased nicely in November If it's inflation day, it's also earnings day. And earnings increased nicely in November: These are both pretty good numbers: high enough to mean real gains for workers—especially after the big August decline—but not so high that it's likely to worry the Fed too much. Since the start of the pandemic, overall wages are now up 1% compared to the rate of inflation and nonsupervisory (blue collar) wages are up 3%. That's not gangbusters, but it's better than nothing. Inflation may have been high for a while, but wage gains were even higher. Hourly earnings increased nicely in November - Kevin Drum
This guy puts out interesting content about the oil and gas industry. Touches on oil prices, alternative energy sources, and energy transition. Putting it here as it pertains to inflationary pressure at the pump. TikTok - Make Your Day
lol Bad news for people routing against people. Biden and the Democrats have no idea how to market good news. It’s like they are embarrassed to tout it because there are still poor and struggling folks in the country. There always will be.
I agree with everything you say, but I was even making a different point. It’s like every time there’s an increase in wages people act like it’s a bad thing. Inflationary spiral and all that. The Fed people keep talking about the need to cool off the labor market. I love that wages have finally increased in real terms for about the first time in 50 years
I sensed this during Obama's administration - that Democrats didn't want to "talk up" the economy out of fear that they would come across as elitist and tone deaf. That was and remains a valid concern IMO, and many people were/are in fact struggling, but I feel like Democrats can find a happier medium. Sometimes perception is more important than data and statistics.
Of course, Republicans in multiple states, most recently in Florida, have a solution to the "problem" of rising wages and worker empowerment - increase the supply of cheap labor by letting kids flood the labor market, including dangerous work Current law says that children that age can’t work more than eight hours on days before school, nor can they work during school hours and for more than 30 hours a week when school’s in session. It also prohibits them from working later than 11 p.m. on a day before school. The House bill eliminates guaranteed half-hour meal breaks that those teens now get on work shifts of at least four continuous hours. Records obtained by the left-leaning labor advocacy nonprofit More Perfect Union show that the conservative advocacy group Foundation for Government Accountability wrote the draft legislation of the House bill and passed it along to Chaney’s legislative aide. The foundation gets significant funding from billionaire donor Richard Uihlein, who has donated more than $2 million to Gov. Ron DeSantis over the past few years. The group, which is based in Florida, has pushed child labor rollbacks in other states as well. The Senate bill, SB 460, filed by Sen. Corey Simon, R-Tallahassee, would allow children ages 16 and 17 to work on roofs, scaffolding and on construction sites if they have received an Occupational Safety and Health Administration certification and are under supervision. 2 Florida bills could roll back child labor laws. What do they do?
The fed meets at 2:30 today to consider or announce interests rate changes, if any. Inflation will determine Powell’s decision.
When you promise a voter an improved financial situation by simply casting their vote and that doesn't come to fruition, you can't tout economic gains.
