ShokWaveRider
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Walmart cola yesterday $0.96, today $1.18, only 22.9% in one hop.
Was $0.72 last year. I am sure it does not cost more to make.
Walmart cola yesterday $0.96, today $1.18, only 22.9% in one hop.
Walmart cola yesterday $0.96, today $1.18, only 22.9% in one hop.
Was $0.72 last year. I am sure it does not cost more to make.
Corn syrup, they don’t use sugar. But farming costs increased substantially with oil prices jumping which affects fertilizer prices among other things. And plastics.
Companies can raise prices without regard to what it costs to make the product. That is how they make money in inflationary periods.
Companies can raise prices without regard to what it costs to make the product. That is how they make money in inflationary periods.
Companies can raise prices without regard to what it costs to make the product. That is how they make money in inflationary periods.
Well, pretty much. Unless the demand curve for their product is perfectly inelastic, the quantity sold will decline as they raise prices. Eventually, further price increases will actually reduce total revenue. And all that Econ 101 crappola those college guys and gals know about.
But yes, if your product trades in a competitive marketplace, your product's price will be determined by supply and demand. Your profit will be determined by your product cost. It's usually not the other way around. If you can't keep product cost reasonably below price (to cover overhead and profit), well, bye-bye.........
THIS!
I was there when the first huge outsourcing of tech skills occurred. Fortunately for me, I wasn't outsourced but saw the decision making up close and personal in terms of what organizations/executives did. It worked out for me because those remote/outsourced/other country skills were good at generating code, but not so good at scaling and building mission critical 24x7x365 systems. So I had lots of opportunities to help when things went to sh*t.
Fast forward to me teaching (Computer Science). One of the things I mention to students is the great advantages they have: Free compilers, cheap computer equipment, tons of free software and documentation, instant turn around on source code problems, and so on. All compared to when I learned when it was a multi-million dollar scarce resource in some big data center.
Then I mention the big disadvantage: Their competition, all around the world, has those same things. And they are HUNGRY to better themselves. I have to be careful here about what I say, but suffice it that they aren't worried about their feelings, or how their ancestors were unfairly treated, or how they didn't get the right participation trophy. No, they are out to better their lives, and are willing to work long and hard to do so.
I typically wrap that up that any job that can be done remotely over a phone or zoom or email can thus be done by someone else, in another country, at the cheapest cost for that skill. And that THEY are their real competition.
I've tried to talk my son into becoming a plumber/electrician/trade skill but so far to no avail.
Pretty clear? LOL. Take off the tin-foil hat, Sparky. And even if it were true More Profits = More Taxes PaidIt's pretty clear that most of the inflation is based on corporate profits. Maybe time for a temporary excess profits tax. It is not right that some corporations would profit from the current crisis while everyone else suffers.
This summer of 2022, my nephew, a CS major who just finished his junior year, found a job as an intern at a local firm. I don't what he did for them, or the name of the company. But I was astounded when my brother told me that his son's hourly pay when annualized was $90K/year.
Holy Moly! I know my brother, and I don't think he was BS'ing me. He said he was shocked too.
This summer of 2022, my nephew, a CS major who just finished his junior year, found a job as an intern at a local firm. I don't what he did for them, or the name of the company. But I was astounded when my brother told me that his son's hourly pay when annualized was $90K/year.
Holy Moly! I know my brother, and I don't think he was BS'ing me. He said he was shocked too.
https://www.itcareerfinder.com/brain-food/it-salaries.htmlSalary by IT Job Role, North America (quick view)
Technology Management: $174,181
IT Sales and Marketing: $156,471
Cloud Computing: $144,533
IT Risk Management: $136,586
IT Architecture & Design: $132,941
Cyber Security: $132,163
Auditing and IT Compliance: $122,788
DevOps Engineering: $122,737
Project / Program Management: $121,666
Business Intelligence & Data Analytics: $119,321
Programming & Application Development: $110,260
Networking & Telecommunications: $93,278
IT Help Desk & Technical Support: $66,652
Pretty clear? LOL. Take off the tin-foil hat, Sparky. And even if it were true More Profits = More Taxes Paid
If I adjust my 1994 intern, it comes to $75k/yr so that seems about right.
Like all things it just really depends on what field/corp you get into as I've seen starting pay $40-$150k.
But the same is true for so many other jobs. My BF is a youtube expert, and in the past 4 years, he has contracted for a $70k/yr job (retail corp), a $100k/yr job (marketing firm), and a $200k/yr job (pharma).
Now as far as inflation goes, my wine at Aldis went back to $2.95 so I'm ok, it jumped up to $3.45 for a few weeks and I was thinking this inflation is getting out of control, but it's been resolved so I'm good.
Yes, this kind of thing isn't super unusual.
https://www.itcareerfinder.com/brain-food/it-salaries.html
I made more in 1997 in the IT field than I do today teaching computer science. (Not that I would trade for that life again.)
Yes.Do we think a .75bp increase in the FED rate is baked in for November?
How is that so clear?It's pretty clear that most of the inflation is based on corporate profits. Maybe time for a temporary excess profits tax. It is not right that some corporations would profit from the current crisis while everyone else suffers.
This is completely counter productive. Higher US corporate tax rates just motivate companies to leave the US, taking jobs with them.It's clear to me. Companies aren't being forced to raise prices because of inflation. They're raising prices because they can. From what I've seen most of the largest corporations have had record profits and profit margins in both '21 and '22. Profit is the money left over after a corporation pays all of its expenses - that includes labor, supply chain costs, and manufacturing costs.
Corporate taxation is another topic. When I say "windfall profit tax", I mean an additional tax above the normal tax rate similar to the excise tax that was imposed on the oil and gas industry in the early 80's.
This is completely counter productive. Higher US corporate tax rates just motivate companies to leave the US, taking jobs with them.
I do agree that some businesses are raising prices because they can after long periods where they couldn't. But I do not sense this is the major driver of inflation.
Sure it can but I prefer they make some sacrifices and take as good care of their consumers as they do for shareholders. The sooner these interest rate increases stop the less pain for the consumer.But high prices can be the solution to high prices for most products.