Scholarship table
A surprisingly high share of millennials—most of whom are not retired
F Jamie Dimon.
Gas prices have been moving up, contributing significantly to inflation in recent months.That's tough on everyday Americans, but thank goodness the CEOs of Chevron and ExxonMobil are making tens of millions of dollars.https://seekingalpha.com/news/4089117-exxon-ceos-2024-pay-bumped-up-3-to-369m-chevron-ceo-pay-rose-12
i know...same to those making snickers bars smaller and those packing fewer potato chips in larger bags too eyn'a?
Yep. Inflation, price gouging, and shrinkflation will continue until consumers rebel against it. Right now consumers are grumbling, but continuing to buy everything, so the trend continues.
Isn't there a significant difference between organic inflation vs price gouging/shrinkflation?
This is still technically cost-push inflation where supply is limited. At the point that supply of homes/oil/etc is high enough, *some* competitor in the market will undercut prices to capture more market share.There are headwinds, though, in that quite a few industries in the United States have gone through a couple of periods of consolidation through the financial crises that have impacted industry after industry since the pandemic. Black swan event, what are you gonna do?Because of that consolidation in some industries the weaker competitors (who are most likely to cut prices to increase market share against the big boys) were snapped up. Additionally, debt is really expensive right now so it's not easy to grow a middling competitor in a given market and wait a few years until your cashflow eclipses your spend. All inflation is organic is a minimally regulated market. Part of the organic Cost-push inflation is realizing that the broader consumer market is willing to pay more for goods because they don't have anywhere else to turn in a market with limited supply of goods. OR shrikflation where you solve the same problem by giving consumers less to recoup your years of tightened profit margins that way. Different solutions to the same problem. Everything costs more so now everything will cost more.
Thanks for the thorough explanation.In my head, "organic" inflation seemed more "neutral" while price gouging or shrinkflation seemed more "evil."
Rising inflation in March didn’t deter consumers, who continued shopping at a more rapid pace than anticipated, the Commerce Department reported Monday.Retail sales increased 0.7% for the month, considerably faster than the Dow Jones consensus forecast for a 0.3% rise though below the upwardly revised 0.9% in February, according to Census Bureau data that is adjusted for seasonality but not for inflation.The consumer price index increased 0.4% in March, the Labor Department reported last week in data that also was higher than the Wall Street outlook. That means consumers more than kept up with the pace of inflation, which ran at a 3.5% annual rate for the month, below the 4% retail sales increase.
Here is the best thing about the great economy:Crime in Milwaukee dropped significantly in the first quarter of 2024, as violent crime dropped 8% from the same time last year, according to data Milwaukee police shared Tuesday. Homicides were down 39% in the first quarter of 2024, dropping from 38 last year to 23 for the same period this year. Compared to the first quarter of 2022, homicides are down 54%.Similar stats in most other places. People tend to commit fewer crimes when they are working regularly.
At this rate it may soon be safe for people like me to return downtown.
I would sure hope so! they're running out of victims and have to move out to the suburbs where people still have something to steal, more and newer kia's and hyundai's and the population is flourishing. but criminal at your own risk as those "rednecks" out west might be packing too, eyn'a?
April 23 (Reuters) - JPMorgan Chase CEO Jamie Dimon expressed confidence on Tuesday in a robust U.S. economy backed by strong employment and healthy consumer finances. The U.S. economic boom is "unbelievable," Dimon said in an interview at an Economic Club of New York event. "Even if we go into recession, the consumer's still in good shape."https://www.reuters.com/markets/us/jpmorgan-ceo-dimon-says-us-economy-is-booming-2024-04-23/
He sounds more positive then 2 weeks ago.
Obviously a real good CEO, but he's all over the place with his economic declarations.