Squidfayce
Eats Squid
those aren't the only inputs that dictate the price of goods.
Nerfonomics
- Thread starter Nerf Herder
- Start date
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- Tags
- economics george costanza nerf
jrewing
Likes Bikes and Dirt
As Nerfs video earlier on pointed out. Big business jumping their prices significantly ie Greed-enomics is a massive factor. Watch as they all hit record profits. All this free Covid Cash is filtering to the top as it was always going too, but faster than I thought.
bleeding the middle-class.
I’m feeling these last few rate rises. Was fine earlier.
People had no choice, houses were historically high everywhere, and rents even more so. Yes people have over reached, but lots bought cautiously and 9 rises quickly is more than ANYONE thought, by a margin.
bleeding the middle-class.
I’m feeling these last few rate rises. Was fine earlier.
People had no choice, houses were historically high everywhere, and rents even more so. Yes people have over reached, but lots bought cautiously and 9 rises quickly is more than ANYONE thought, by a margin.
Freediver
Likes Bikes and Dirt
Anybody with half a clue saw these rate rises coming and there will be more.
There is a relationship between interest rates, employment rates and inflation. Inflation needs to be controlled so we will see interest rate rises to create higher unemployment levels and reduce pressure on wages. We won't see rates plateau until unemployment reaches around 5% which is about the level needed to control inflation. Interest rates won't drop until unemployment levels get to high.
It's a sad fact that the demographic that is most affected is the one that always suffers most.
There is a relationship between interest rates, employment rates and inflation. Inflation needs to be controlled so we will see interest rate rises to create higher unemployment levels and reduce pressure on wages. We won't see rates plateau until unemployment reaches around 5% which is about the level needed to control inflation. Interest rates won't drop until unemployment levels get to high.
It's a sad fact that the demographic that is most affected is the one that always suffers most.
jrewing
Likes Bikes and Dirt
You saw 9 rises that quickly coming? Tell me where I should invest in this ball of yours?
beeb
Dr. Beebenson, PhD HA, ST, Offset (hons)
I guessed the rates would end up back roughly where they are now, but didn't anticipate the 30-35% increase in food costs that occurred at the same time. That had a bigger impact on my monthly 'budget' than the change in mortgage costs and is nothing but price-gouging from the supermarket chains. Like Flow alluded to, prices were quick to rise when transport costs were reducing (but not eliminating) supermarket's profit margins - but the shelf prices haven't reduced at all since (despite record profits and the increased costs mostly falling away quite some time ago now). There might be two, three or four major chains, but if they all push prices up simultaneously - there's nothing the consumer can do to avoid it as food is an essential item. Even if the consumer buys less due to lower 'real' wages compared to inflation and mortgage pressure, they are still paying the higher profit margins. It actually helps the supermarkets reduce product choices/availability, warehousing costs/complexity, and stock-holding (as people are buying less items overall) - while still maintaining their profit margins.
ozzybmx
call me Cáitín
You are going to have to cut your cheese on toast down to half a block of Mersey Valley.
Flow-Rider
Burner
The big retailers are already reporting record profits, going to be a tough year ahead, I would say. Having low levels of interest rates for such a long duration was like supercharging the economy. The unemployment rates in the US are still going down, not a good looking outcome worldwide. It will take a while for the higher interest rates to filter through.
beeb
Dr. Beebenson, PhD HA, ST, Offset (hons)
That was half a block! What am I meant to do, use a quarter block? How can anyone live like this!?!
(Jokes aside, I actually haven't bought any since as it's nearly $10 per block up here! No wonder I cut loose when it was on special!)
ozzybmx
call me Cáitín
My missus doesn't even look at the price, that's why she stopped me going shopping with her 15yrs ago... because I shouted at her the whole way around. Could have saved her 10-15% of the bill on package sizing and specials alone.
She lifts her usual butter, 2 x 250g tubs at $3.99 each... I'm like WTF the 500g is $5.99
She's like, piss off, I like this size and you are never coming with me again.
Freediver
Likes Bikes and Dirt
With interest rates that low we were always going to cop inflation, Then we got fires, covid, floods and a war.
Retail is still up for the year by 7.5%, probably influenced by covid cash but it's down for December by 3.9% and the quarter by 0.2. we don't have figures for Jan yet but there's an agreement amongst economists that it will follow the downward trend.
Retail Trade, Australia, January 2023
Monthly and quarterly estimates of turnover and volumes for retail businesses, including store and online sales.
www.abs.gov.au
Flow-Rider
Burner
All from the last quarter but people aren't scared to spend, and not everyone has a mortgage over their head to worry about.With interest rates that low we were always going to cop inflation, Then we got fires, covid, floods and a war.
Retail is still up for the year by 7.5%, probably influenced by covid cash but it's down for December by 3.9% and the quarter by 0.2. we don't have figures for Jan yet but there's an agreement amongst economists that it will follow the downward trend.
Retail Trade, Australia, January 2023
Monthly and quarterly estimates of turnover and volumes for retail businesses, including store and online sales.
JB Hi-Fi reports record profits despite drop in online sales
Australia’s largest consumer electronics and whitegoods retailer JB Hi-Fi has delivered a double-digit jump in half-year profits thanks to strong demand during the Black Friday and Boxing Day promotions, which more than made up for a fall in online sales.
Myer has posted record sales and is on track for as much as a 104pc lift in first-half profit
The revival of Myer, the long-ailing department store, is gathering pace after the retailer unveiled its strongest sales on record and said it expected profits for the first half of the financial year to double.
Strong Holiday Sales Spur Record Revenue at Michael Hill
Sales came to a record AUD 363.3 million ($252.5 million) in the six months ending January 1, the Australian jeweler said last week. Revenue was up 15% compared to the same period two years ago, even though the company had seven fewer stores in operation.
fjohn860
Crypto curious
Flow-Rider
Burner
Yeah, it's a waiting game now. A lot of essential goods are still expensive, if we go into deflation that will have a heap of problems of its own.
Squidfayce
Eats Squid
Both jb and Myer are publicly traded. The sales data will be online if you want to compare. Dunno about Michael Hill.
beeb
Dr. Beebenson, PhD HA, ST, Offset (hons)
I thought that was their environmental department logo?
Litenbror
Eats Squid
They have just expanded it into sale as well.
The Dude
Wasn't asking to be banned
Environmental, social, tax liabilities, etc., etc.
Flow-Rider
Burner
That's what they send to the ATO on the letter head, when the ATO asks for taxes.