$21.39 a quart at a paint store last week. That would be a roughly 65% increase on the same product purchased one year ago. I see this morning, Amazon has it for $15. Could be nearly the same price with shipping costs. The stuff is pretty hefty.| Submit your comments on this article |
| Economy |
| 'Not Transitory' - US CEOs Warn Inflation Is 'Unprecedented.' And Becoming 'Structural' |
| 2021-09-21 |
| [ZERO] Some of the biggest names in business virtually attended the annual Morgan Stanley Laguna conference last week and warned about the complex nature of soaring inflation. Much of the discussion was centered around the soaring cost of raw materials, labor, and logistical nightmares. Corporate leaders from 3M Company to Trane Technologies to General Electric Co., among others, all warned about increasing inflationary pressures, according to Bloomberg. 3M's Chief CFO Monish Patolawala shocked attendees by calling inflation "unprecedented." He said the impact of higher commodity prices and soaring freight prices would impact its 2021 earnings. Trane Technologies Plc's CFO Chris Kuehn told a very similar story: "Unprecedented is the word we'd use around the inflation side." At the virtual event, Morgan Stanley analyst Josh Pokrzywinski joked that everyone could check the word "unprecedented" on their 2021 bingo cards. But what has become an increasing concern, pointed out by General Electric's CEO Larry Culp, is that inflationary pressures are "increasingly getting structural in nature." David Petratis, CEO of lock maker Allegion Plc, said inflationary pressures might stick around two to three years. He said his company is preparing for more persistent inflation, adding "it's not a transitory situation." |
| Posted by:Besoeker |
| #9 Maybe Joe will make AOC the 'economic czar' since she's an expert right? |
| Posted by: CrazyFool 2021-09-21 15:43 |
| #8 New Normal is pretty language to persuade you the past never happened. |
| Posted by: swksvolFF 2021-09-21 13:46 |
| #7 Who knew that printing trillions of dollars and wild spending caused inflation? Joe badly needs some real economists to point out what every econ student knows after about a month of Econ 101. |
| Posted by: Tom 2021-09-21 13:44 |
| #6 Didn't Obama say something similar, the new normal. The 'new normal' is trying to take the abnormal and make it 'normal'. |
| Posted by: Raj 2021-09-21 13:07 |
| #5 Growing inflation, supply issues, labor shortages...How's the unemployment situation, Jen/Jill/Joe? |
| Posted by: Bobby 2021-09-21 12:56 |
| #4 When my paycheck rises the same rate as inflation has this year, then it will be 'structural'. Until then you all can go fuck yourselves. |
| Posted by: DarthVader 2021-09-21 12:39 |
| #3 Didn't Obama say something similar, the new normal. Then Trump came in and mostly fixed the economy and Obama was all trying to take credit for it. With trillion dollar budgets I suspect inflation may actually become the new normal before long. |
| Posted by: ruprecht 2021-09-21 12:07 |
| #2 "If only |
| Posted by: Frank G 2021-09-21 07:35 |
| #1 $21.39 a quart at a paint store last week. That would be a roughly 65% increase on the same product purchased one year ago. I see this morning, Amazon has it for $15. Could be nearly the same price with shipping costs. The stuff is pretty hefty. |
| Posted by: Besoeker 2021-09-21 07:15 |