[New post] Inflation is Almost at 1970’s Peak and Will Get Worse between Supply Chain and Panic Buying
User ID posted: " https://www.youtube.com/watch?v=jIpySrZIFZ8 Inflation is almost at 1970's peak and will get worse between supply chain and panic buying by The Economic Ninja Inflation is almost at 1970's peak and will get worse between supply chain and panic buyingh"
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See Full Video Transcript Below
Hey everybody Economic Ninja here got a really great story I want to let you guys know about it has to do with inflation 1970s compared to now and try and open people's eyes to what is going on again if you don't mind hashtag inflation in the comments below it really helps get the information out and I think it's a really big deal really big deal so the title is producer price inflation hits new record high pricing pressures near the 1970s peak all right so it starts here after CPI's transitory nature narrative busting rebound so I'll give an example if you don't know what the transitory term is Jerome Powell our Federal Reserve chairman came out and this is how all Fed Reserve Chairmans deal with things when there's a crisis they start to speak more publicly okay when it's good they stay quiet when they got a calm or quail quell I always get that word wrong fears you know they come out and they start speaking more publicly and you they always give some really fancy word right something different and they said inflation is transitory all right and I was calling it back in the spring said no they're full of it hyperinflation right now is transitory because we are seeing that in lumber where lumber was literally going up three four hundred percent that is hyper inflation that's transitory because we saw it burst and we're gonna see another bout of hyperinflation coming soon in energy you're gonna see that in America here probably in the next 90 to 120 days and you're gonna see these bouts of hyperinflation but what's happening is inflation is skyrocketing okay so that was the big narrative in the spring and now you're seeing uh you know that you know Evan's like oh yeah okay it's transitory and now we're saying no you're full you're full of it all right so says analysts expected producer prices to accelerate even further into record territory and it did jumping half a percent month over month to a new record of 8.6 percent year over year by the prince they were modestly below the expected levels of you know plus you know I it's hard to read these when I'm sorry 8.7% year over year sorry it's hard to read these when you're not looking at them at least it is for me so it's skyrocketing CPI is skyrocketing and the sad thing is right now I do not believe that we are over we are it's going to get much worse okay which is going to lead to that deflation we're already seeing deflation in a couple of things but really by and large we haven't seen it yet we've got that seriously strong inflation going on it says that goods PPI dominated the surge in prices which was 40 of the broad-based advance can be attributed to a point eight percent jump in prices for final demand in energy all right and it says services PPI rose only modestly but this is where it's very interesting it says PPI final demand has ways to g a ways to go intermediate pricing pressures are nearing 1970s peaks and finally companies are under the most pressure to pass these price increases onto customers as the CPI, PPI inflation gap reaches a new record man I can't stand acronyms that's like I know just like spell it out so here's my point in in early august I started talking about the stories that were coming out like from the Tyson Foods CEO talking about inflation is here get ready it's gonna hit it's about to hit main street because what was happening was the producers are having to charge more to the middleman because of the cost associated with building the product up or getting the product to the middleman the warehouses then the warehouses are about to start trying to you know raise rates on the stores and the stores are trying to stay competitive with other people now the stores are having to raise the prices for the consumer see because all the time you know it goes through these different levels the chain the supply chain system of manufacturing you know everybody in that supply chain is still trying even though they're getting higher prices it doesn't mean that that necessarily translates to the customer or the next person down the supply chain line because they're still trying themselves to stay competitive and keep their customers right so every in that supply chain everyone's you know yeah the price went up oh that's going to hit our bottom line but we can't just raise prices because that guy over there hasn't raised his prices yet they're trying to stay competitive because they don't lose their customers but eventually what happens is they succumb to the pressure of having to raise prices and each in a chain raise the price that one raise the price that one raised price now we're at the moment where the prices are being raised in the stores the thing that's really scary and this isn't fud this is like this is real life these are facts this is how human emotion works when you're seeing the news story about inflation all throughout the news right now what happens is for a moment in time right I don't know how long it's gonna last the human being just becomes accustomed to it like well this is where we are this is how it's gonna be we saw that with lumber in the spring when I was saying it's going up it's going up and I said hey guys don't worry it's it probably will still keep going up a little bit but it'll bust in July and if you read the comments in there were a lot of people said yeah I'm not gonna pay these high prices this is stupid I'll wait but there's a lot of people saying you don't know what you're talking about high prices are here to stay the dollar is being destroyed it's going to be forever and they were wrong and it's proven now there's a little bit of a dead cat bounce right now but again you know just because people are running down to home depot and buying up lumber because it's at what 2018-2019 prices right now it's starting to cruise up a little bit but pretty soon they're going to find themselves the exact same situation that they did in July because they're going to care more about how much food costs and how much the gasoline in their car cost okay so that is what happens everybody sort of just gets used to higher prices and then what happens is everyone's all right everyone's good it's all in the news it's cats out of the bag deal with high prices then what happens is everybody in that chain of at this point survival but it's a supply chain they just raise prices they want to get their margins back to normal they want to be back in the normal profit margin that they're accustomed to for the last you know 5-10 years that's when we move into a slight hyperinflation I believe and that will be very quick I believe because what will happen is you will see so many businesses have to close their doors because people go I'm not buying anything I'm just like we won't even have a Christmas this year I mean we it's survival mode and that's what people go into survival mode and then your boutique shops and you know all the small businesses really have to suffer and the big businesses suffer too but really it's because of downs sizing depending on where debt goes anyway that's getting into interest rates so I hope you guys got something from this I know I'm talking super fast but I think these are huge stories that are coming out today if you haven't seen the video I'll try and link it below in the about France decoupling from the United States this is absolutely huge that being said guys I thank you so much thank you for everybody that's sharing these videos it helps me out so much helps get out the news I'm gonna be honest with you it's gonna be a very gnarly winter get ready guys prepare for the worst hope the best and if you're prepared for the worst there's no feared fear when you're prepared that being said guys thank you so much the Economic Ninja is out
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