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Hall of Famer [21940]
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2021 Logistics Report
Jun 22, 2022, 3:13 PM
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seems to tell a more accurate story with respect to what we pleebs are facing in terms of inflation. This was published yesterday, can't share the full report as it's behind a paywall.
The guys at FreightWaves put together a good summary. Won't bore everyone by getting into the weeds of industry specific stuff.
Emphasis mine: "Total logistics costs, which measure how much was spent on transportation, warehousing and ancillary services such as support and administrative, soared 22.4% last year to nearly $1.85 trillion, according to the report. That was equal to 8% of the U.S. GDP, a level not seen since 2008"
Yowzers...24%. That feels a little closer to the cost increases I'm personally seeing at the grocery and big box stores for food and staple items.
https://www.freightwaves.com/news/no-surprise-report-finds-logistics-costs-spiked-in-2021
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Hall of Famer [21940]
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effffffffffffffffffffffffffffffffffffffffffffffffffff
Jun 22, 2022, 3:15 PM
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for my mistake:
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Oculus Spirit [79253]
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As an Analist who works in pricing, it wasn't hard
Jun 22, 2022, 3:18 PM
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to see this coming. Not that it makes it any better, but it really irritates me when knuckle draggers blame the current president, (Trump, Biden, Oboma, Bush, hoo TF ever) when it's clearly a market thing. And more than that, we're are more of a global market than ever. Our freight costs went up 300% last year.
That being said, we increased our prices a small amount to reflect this change, not double or triple our prices like the greedy oil companies are doing.
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Heisman Winner [135609]
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^^^THIS^^^
Jun 22, 2022, 4:05 PM
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is why I blame Vice Presidents.
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All-In [40934]
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it turns out that
Jun 22, 2022, 4:09 PM
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presidents and their administrations have zero effect on the economy.
We only need them for social issues.
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Heisman Winner [135609]
TigerPulse: 100%
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^^^THIS^^^
Jun 22, 2022, 4:13 PM
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is why I blame the media.
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All-In [49175]
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Oculus Spirit [97727]
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Wholesale inflation has been above 11% now for a while.
Jun 22, 2022, 3:26 PM
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I (hope) that's where inflation tops out. Think last month it dropped to 10.8%, which hopefully means the crest of inflation will not get past that 11.5% mark.
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All-TigerNet [11640]
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Sam Zell has been saying the WH/Fed have been cooking
Jun 22, 2022, 4:02 PM
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the books to show inflation under 10% for months.
In construction, we're seeing project cost increases >10% just in a few months.
8.something% inflation is a joke.
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Oculus Spirit [81061]
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We know most houses have gone up 2x-4x what the official
Jun 22, 2022, 4:08 PM
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inflation rate is.
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