The Nation's Financial Condition

[youthathletics]

Don’t forget knee high park

https://www.cc.com/video/b4ylib/chappel ... uncensored

“I beat my meat like it owes me money”

Almost pi$$d my pants laughing. Man, comedy was so good years ago.

[tech37]

Fellas, keep your eye on the ball.

One party claims they think government is bad, spending is out of control, and taxes are too high. Republicans.

The other claims that government is good, and we need MORE programs that help the working class and poor, and we need to RAISE taxes. Dems.


Get it? If the Republicans (and their voters) were claiming that Government is good, and spending needs to go up? I wouldn't hassle them for, you know, raising spending every chance they get. Trumpy made the Government 66% bigger in just 4 years.

It's the Republican hypocrisy that's the problem, fellas. Not the actual spending.

So either: stop claiming government is bad, and spending is bad, or......cut spending every time a R gets in the White House or Congress.

Pick one. Don't care which. Savvy? Last time a R POTUS cut spending (for the 100th time) was 1953....what needs to happen for R voters to figure out they are being lied to about "government is bad" "spending is bad"?? We're coming up on 100 years of this lie---R voters STILL haven't caught on.

Ya guys need me to break out the puppets, or something?

Puppets would be funny....ever seen the movie Team America? Friggen hillarious. Three Types of People [ sound down around kids and clients]

Funny as hell youth. Forgot about this movie. Would it be released in this day and age?

[Seacoaster(1)]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

[MDlaxfan76]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

Blowing away estimates.

Big upward revision in December’s excellent numbers as well. And critically, wage growth best in past two years. Slight decrease in avg hours worked.

Stock markets are a little disappointed by no rate cuts imminent, but hanging in ok.

Basically crushing the world on a relative basis since end of pandemic.

China, Russia…in the tank.

[Seacoaster(1)]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

Blowing away estimates.

Big upward revision in December’s excellent numbers as well. And critically, wage growth best in past two years. Slight decrease in avg hours worked.

Stock markets are a little disappointed by no rate cuts imminent, but hanging in ok.

Basically crushing the world on a relative basis since end of pandemic.

Right. What we pay Presidents and their administrations to do is manage, to pull this lever or that lever to see if we can maintain consistency and growth. By that metric the current administration has done an excellent job. So the MAGA GOP -- bankrupt for any ideas and unable to govern in any proactive way -- says let's talk about the "invasion" of poor brown people.

[MDlaxfan76]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

Blowing away estimates.

Big upward revision in December’s excellent numbers as well. And critically, wage growth best in past two years. Slight decrease in avg hours worked.

Stock markets are a little disappointed by no rate cuts imminent, but hanging in ok.

Basically crushing the world on a relative basis since end of pandemic.

Right. What we pay Presidents and their administrations to do is manage, to pull this lever or that lever to see if we can maintain consistency and growth. By that metric the current administration has done an excellent job. So the MAGA GOP -- bankrupt for any ideas and unable to govern in any proactive way -- says let's talk about the "invasion" of poor brown people.

Which isn't to say that the current border situation isn't chaotic and overwhelming.

Indeed, it calls out for serious attention to spotlighting the issue and the necessary resources...If I was running the Biden Campaign I'd have Joe go to the border region multiple times, and speak again and again and again to the necessity for resources and reform. Call it critical and a crisis, some political Jiu jitsu. Call for increases in legal immigration, work visas for legal entry, etc. Increases in personnel, technology...go after the fentanyl cris hard.

The MAGA wing is abandoning actually trying to solve the immediate crisis. Expose them as poseurs with no interest in actual solutions.

Own the issue. Executive Orders, whatever is necessary to show action and House MAGA inaction.

[Seacoaster(1)]

Agreed.

[MDlaxfan76]

From Kevin Coupe's Morning NewsBeat newsletter on the grocery industry:


The New York Times reports this morning that President Joe Biden is taking aim at high grocery prices and accusing supermarkets "of reaping excess profits and ripping off shoppers," as he begins the 2024 campaign year in earnest.

Biden, the Times writes, "is beginning to pressure large grocery chains to slash food prices for American consumers."

Aides tell the Times that there will be "more pressure to come against grocery chains and other companies that are maintaining higher-than-usual profit margins after a period of rapid price growth."

Some context from the story:

"Mr. Biden’s public offensive reflects the political reality that, while inflation is moderating, voters are angry about how much they are paying at the grocery store and that is weighing on Mr. Biden’s approval rating ahead of the 2024 election.

"Economic research suggests the cost of eggs, milk and other staples — which consumers buy far more frequently than big-ticket items like furniture or electronics — play an outsized role in shaping Americans’ views of inflation. Those prices jumped by more than 11 percent in 2022 and by 5 percent last year, amid a post-pandemic inflation surge that was the nation’s fastest burst of price increases in four decades.

"The rate of increase is slowing rapidly: In December, prices for food consumed at home were up by just over 1 percent, according to the Labor Department. But administration officials say Mr. Biden is keenly aware that prices remain too elevated for many families, even as key items, like gasoline and household furnishings, are now cheaper than they were at their post-pandemic peak."

And, from the Times story:

"A new analysis from the White House Council of Economic Advisers suggests that elevated profit margins among large grocery retailers could be contributing to the stubbornly high price of food on store shelves. The analysis, which relies on Census Quarterly Financial Reports data, found that food and beverage stores have increased their margins by about 2 percentage points since the eve of the pandemic, reaching their highest level in two decades.

"Much of that increase came in 2021 and 2022, around the time that other retailers — like clothing and sporting goods stores — also saw profit margins jump. Grocery-store margins have stayed elevated, the analysis finds, even as other retailers’ margins have fallen back to more normal levels based on recent history."

However, "Other research suggests additional forces — like consumer demand and supply-chain disruptions — are a much bigger factor in the price hikes. A bout of avian flu caused egg prices to spike last year, for example. And food producers, like soft-drink manufacturers, have continued to raise prices even as their costs have declined, leading to heady profit margins.

Kroger, of course, is using the political moment to publicly lobby for its proposed $26.4 billion acquisition of Albertsons, which currently is being evaluated by the Federal Trade Commission (FTC). “We agree with President Biden: Too many grocers in America have increased margins in contrast to Kroger, who have reduced our margins consistently for nearly 20 years to save customers billions,” said Keith Dailey, Kroger’s group vice president of corporate affairs and chief sustainability officer. “Through our merger with Albertsons, Kroger will lower prices for even more of America’s consumers.”

The Times writes that "the Federal Trade Commission is currently reviewing — and widely expected to block — a merger between two large grocery-store chains, Kroger and Albertsons. Opponents of the deal say it would reduce competition and allow the merged company to charge shoppers higher prices. But blocking that deal would do little to address the current price pop."

And, in a passage that no doubt will be music to the ears of the National Grocers Association (NGA), which has made this issue a high priority, the Times writes that "The commission is also considering enforcement actions under a nearly 90-year-old law, the Robinson-Patman Act, which requires suppliers of retail goods to offer the same terms to every retailer they sell to. Supporters of those enforcement actions say they would drive down prices at smaller grocers, by ensuring they can buy items for the same cost as large retailers."

KC's View:
Several points here, if I may.

• I think the position being taken by the Biden administration and campaign likely is indicative of how the FTC will rule in this case - consolidation is seen as being potentially anti-competitive, and so regulators will try to stop it. (The courts, of course, will end up having the last word.)

• There is very little that can be done from a public policy perspective to address this problem, though it would be interesting to see if rigorous enforcement of Robinson-Patman begins to get some traction. Other than blocking the Kroger-Albertsons deals, it might be one of the few ways that policymakers can demonstrate a pro-consumer mindset.

• The key word in that last sentence is "demonstrate." In some ways, this is all performative, as is usually often the case in politics. I'm sure there will be some folks out there who will accuse Biden of baying at the moon on this issue, and while they're not wrong, it is sort of business as usual for anybody running for office. Or in office.

• Grocers should get used to this. The Times isn't the only major paper addressing this issue; the Washington Post this morning has a similar story, writing that "stubbornly high grocery prices represent a critical drain on the finances of tens of millions of people and remain, along with housing, perhaps the most persistent economic challenge for the Biden administration as it tries to convince Americans the economy is back on solid footing. For all the attention on gas prices and housing, more than two-thirds of voters say inflation has hit them hardest through higher food prices, according to a November 2023 survey by Yahoo Finance/Ipsos. That’s more than 50 percentage points higher than any other category." As much as office-seekers and office-holders will see this issue as being fertile ground for pontification, news media outlets will see it as a story that will resonant with readers."

• It also is possible that consumers need to get used to this. As the Post writes, "The high grocery prices reflect a number of economic factors. The run-up in food costs began early in the pandemic, when supply-chain snarls and worker shortages collided with rampant demand for groceries. But more recent developments continue to keep prices high: Droughts and extreme heat have dampened production of fruits and vegetables. Dry spells in India and Thailand have curtailed sugar exports. And an ongoing avian flu outbreak, the largest in U.S. history, sent chicken and egg prices soaring, though egg prices fell after an initial spike.

"Higher wages at processing plants, warehouses and grocery stores have also added to costs. Meanwhile, Russia’s invasion of Ukraine in early 2022 prompted a spike in commodity prices for wheat, corn and vegetable oils that are finally settling back down."

In other words, there are a lot of factors affecting food prices, some of them beyond any government's ability to regulate. If climate change, for example, creates hostile growing conditions that result in higher prices, there's not much that anyone can do about it. And since climate change isn't likely to go away anytime soon, higher prices are something to which we all may need to become accustomed.

• Prices are one thing. Margins are another. If companies are using inflation as an excuse to inflate their margins and pay their executives higher salaries, this will leave them open to legitimate criticism, in my view. (If they pay their people more, lessening the gap between C-suite pay and front line pay, I think that will be a lot easier to justify.

• On the subject of margins, here is a chart from the Times story that illustrates the issue that really stick in the craw of consumers and is channeled by politicians:

Margins.png (176.77 KiB) Viewed 314 times

• I think this is a legitimate public policy discussion worthy of nuanced debate. Not that we're likely to get nuanced debate from either side of the aisle, not when bumper sticker and TikTok-length pronouncements are easier to produce. But at the very least, I'd rather our elected officials and political parties be talking about this than the Taylor Swift-Travis Kelce "conspiracy," which is about as moronic an example of public discourse as I can imagine.

BACK TO TOP

[kramerica.inc]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

[a fan]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

Monopolies and less competition is why we're seeing margins go up.

[MDlaxfan76]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

It's indeed quite erratic, but there's always been a game by grocers to have differing 'loss leaders' week to week to promote as if they are indicators of overall prices. BOGO's, coupons, specials...

Our meal planning app tracks all specials at 85K grocery stores nationwide and automatically takes advantage of them in making meal/recipe suggestions. Chicken legs this week, chicken breast next, flounder this week, salmon next, etc. That enables hitting target budgets per serving automatically instead of having to figure it all out for oneself. And all the other factors, health, allergies, skill, time, taste etc.

The chains don't allow their IT partners to share full catalog pricing in a comparison fashion, so we optimize for whatever retailer is chosen for the shopping that trip. (UK grocers do allow comparison interestingly, US doesn't); so with DinnerTime you're gonna get quite different meal recommendations based on which store you happen to choose.

We saw big reductions in special offers during Covid supply disruptions as well as overall price increases for various reasons, including increased shipping costs as well as produce going bad on the docks...all sorts of disruptions...but grocers also saw big increase in revenue as the restaurants were closed and they were the best game in town despite higher prices (still way less to make a meal at home with grocery items than from a restaurant). And that increase in weekly demand put all the more pressure on product prices.

The grocers enjoyed both the operational efficiencies of increased throughput and the higher prices which they have been sticky in reducing; same for many of the CPG food companies...they found they could get away with higher prices...everyone earning more margin than before.

Increased media and political attention can incentivize/pressure competitors to adjust to not be perceived as gouging and as one does, that signal ripples through and others follow. We're seeing some price stability finally, but not deflation in pricing just yet, except when its something that had a big, short term shock that goes away and there's a glut of supply.

On brand loyalty, the best grocers have done an excellent job over the last decade in improving the quality and brand image of their store brands, often being as good or better than national brands...with value.

For instance, in our family we're happy to pick up store brand sparkling waters, but we only do Diet Pepsi when it's buy 2 get 1 free, and flip to Diet Coke if they're doing that deal that week not DP which I prefer. And with lots of items, my wife looks for when there's a deal, then fills pantry/freezer...as well doing bulk stocking at club stores, Costco being our primary (rotisserie chicken is an every week loss leader for them). In Baltimore, she prefers Wegman's as they have great store brands and surprisingly good national brand pricing that on lost of items is better than club...down here in Florida there's a Publix every other block it seems, so that's the primary game in town...fortunately they do a good job overall too...but helps to stock when deals do hit.

[a fan]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

It's indeed quite erratic, but there's always been a game by grocers to have differing 'loss leaders' week to week to promote as if they are indicators of overall prices. BOGO's, coupons, specials...

Our meal planning app tracks all specials at 85K grocery stores nationwide and automatically takes advantage of them in making meal/recipe suggestions. Chicken legs this week, chicken breast next, flounder this week, salmon next, etc. That enables hitting target budgets per serving automatically instead of having to figure it all out for oneself. And all the other factors, health, allergies, skill, time, taste etc.

The chains don't allow their IT partners to share full catalog pricing in a comparison fashion, so we optimize for whatever retailer is chosen for the shopping that trip. (UK grocers do allow comparison interestingly, US doesn't); so with DinnerTime you're gonna get quite different meal recommendations based on which store you happen to choose.

We saw big reductions in special offers during Covid supply disruptions as well as overall price increases for various reasons, including increased shipping costs as well as produce going bad on the docks...all sorts of disruptions...but grocers also saw big increase in revenue as the restaurants were closed and they were the best game in town despite higher prices (still way less to make a meal at home with grocery items than from a restaurant). And that increase in weekly demand put all the more pressure on product prices.

The grocers enjoyed both the operational efficiencies of increased throughput and the higher prices which they have been sticky in reducing; same for many of the CPG food companies...they found they could get away with higher prices...everyone earning more margin than before.

Increased media and political attention can incentivize/pressure competitors to adjust to not be perceived as gouging and as one does, that signal ripples through and others follow. We're seeing some price stability finally, but not deflation in pricing just yet, except when its something that had a big, short term shock that goes away and there's a glut of supply.

On brand loyalty, the best grocers have done an excellent job over the last decade in improving the quality and brand image of their store brands, often being as good or better than national brands...with value.

For instance, in our family we're happy to pick up store brand sparkling waters, but we only do Diet Pepsi when it's buy 2 get 1 free, and flip to Diet Coke if they're doing that deal that week not DP which I prefer. And with lots of items, my wife looks for when there's a deal, then fills pantry/freezer...as well doing bulk stocking at club stores, Costco being our primary (rotisserie chicken is an every week loss leader for them). In Baltimore, she prefers Wegman's as they have great store brands and surprisingly good national brand pricing that on lost of items is better than club...down here in Florida there's a Publix every other block it seems, so that's the primary game in town...fortunately they do a good job overall too...but helps to stock when deals do hit.

Interesting. We deal with the chains as a supplier. Their monopoly position in the Colorado Market has also killed hundreds (yes, hundreds) of mom and pop liquor stores and killed strip malls that don't have groceries all over the State as they take more and more market share with booze.

Wine, in particular, is really sticking it to liquor stores that specialize in good wine. The Grocers add just enough of a selection to keep all but the most serious wine buyers from making 'an extra trip' to the specialty store. And then when the small shops disappear? They raise their prices. Rinse. Repeat.

[MDlaxfan76]

Agreed.

[Farfromgeneva]

Don’t forget knee high park

https://www.cc.com/video/b4ylib/chappel ... uncensored

“I beat my meat like it owes me money”

Almost pi$$d my pants laughing. Man, comedy was so good years ago.

Hey Dave, good to see you again…says the STD

[Farfromgeneva]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

Blowing away estimates.

Big upward revision in December’s excellent numbers as well. And critically, wage growth best in past two years. Slight decrease in avg hours worked.

Stock markets are a little disappointed by no rate cuts imminent, but hanging in ok.

Basically crushing the world on a relative basis since end of pandemic.

China, Russia…in the tank.

I’m not changing my general position here of where it’s heading and some rather than later, unless one wants to argue 15-20yrs of no economic cycle means risk on.

But…this has long been my case for why any shrill arguments of our economic demise is silly. We are still lapping the rest of the world even when we continually show our a** these days.

[Farfromgeneva]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

Blowing away estimates.

Big upward revision in December’s excellent numbers as well. And critically, wage growth best in past two years. Slight decrease in avg hours worked.

Stock markets are a little disappointed by no rate cuts imminent, but hanging in ok.

Basically crushing the world on a relative basis since end of pandemic.

Right. What we pay Presidents and their administrations to do is manage, to pull this lever or that lever to see if we can maintain consistency and growth. By that metric the current administration has done an excellent job. So the MAGA GOP -- bankrupt for any ideas and unable to govern in any proactive way -- says let's talk about the "invasion" of poor brown people.

Tribe Called Quest for President!

https://getyarn.io/yarn-clip/dbf60a3f-7 ... c2e535ad20

[PizzaSnake]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

It's indeed quite erratic, but there's always been a game by grocers to have differing 'loss leaders' week to week to promote as if they are indicators of overall prices. BOGO's, coupons, specials...

Our meal planning app tracks all specials at 85K grocery stores nationwide and automatically takes advantage of them in making meal/recipe suggestions. Chicken legs this week, chicken breast next, flounder this week, salmon next, etc. That enables hitting target budgets per serving automatically instead of having to figure it all out for oneself. And all the other factors, health, allergies, skill, time, taste etc.

The chains don't allow their IT partners to share full catalog pricing in a comparison fashion, so we optimize for whatever retailer is chosen for the shopping that trip. (UK grocers do allow comparison interestingly, US doesn't); so with DinnerTime you're gonna get quite different meal recommendations based on which store you happen to choose.

We saw big reductions in special offers during Covid supply disruptions as well as overall price increases for various reasons, including increased shipping costs as well as produce going bad on the docks...all sorts of disruptions...but grocers also saw big increase in revenue as the restaurants were closed and they were the best game in town despite higher prices (still way less to make a meal at home with grocery items than from a restaurant). And that increase in weekly demand put all the more pressure on product prices.

The grocers enjoyed both the operational efficiencies of increased throughput and the higher prices which they have been sticky in reducing; same for many of the CPG food companies...they found they could get away with higher prices...everyone earning more margin than before.

Increased media and political attention can incentivize/pressure competitors to adjust to not be perceived as gouging and as one does, that signal ripples through and others follow. We're seeing some price stability finally, but not deflation in pricing just yet, except when its something that had a big, short term shock that goes away and there's a glut of supply.

On brand loyalty, the best grocers have done an excellent job over the last decade in improving the quality and brand image of their store brands, often being as good or better than national brands...with value.

For instance, in our family we're happy to pick up store brand sparkling waters, but we only do Diet Pepsi when it's buy 2 get 1 free, and flip to Diet Coke if they're doing that deal that week not DP which I prefer. And with lots of items, my wife looks for when there's a deal, then fills pantry/freezer...as well doing bulk stocking at club stores, Costco being our primary (rotisserie chicken is an every week loss leader for them). In Baltimore, she prefers Wegman's as they have great store brands and surprisingly good national brand pricing that on lost of items is better than club...down here in Florida there's a Publix every other block it seems, so that's the primary game in town...fortunately they do a good job overall too...but helps to stock when deals do hit.

Meanwhile, in France, land of the freedom fry...

"French supermarket chain Carrefour has slapped price warnings on products ranging from Lindt chocolates to Lipton Ice Tea to pressure suppliers such as Nestlé, PepsiCo and Unilever to cut their prices.

Carrefour is putting stickers on products that have shrunk in size but cost more even though raw materials prices have eased. It is trying to rally consumer support as retailers prepare to face the world’s biggest brands in negotiations due to start soon and end by October 15.

“Obviously, the aim in stigmatizing these products is to be able to tell manufacturers to rethink their pricing policy,” Stefen Bompais, director of client communications at Carrefour, said in an interview."

https://www.cnn.com/2023/09/15/business ... index.html

[Farfromgeneva]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

It's indeed quite erratic, but there's always been a game by grocers to have differing 'loss leaders' week to week to promote as if they are indicators of overall prices. BOGO's, coupons, specials...

Our meal planning app tracks all specials at 85K grocery stores nationwide and automatically takes advantage of them in making meal/recipe suggestions. Chicken legs this week, chicken breast next, flounder this week, salmon next, etc. That enables hitting target budgets per serving automatically instead of having to figure it all out for oneself. And all the other factors, health, allergies, skill, time, taste etc.

The chains don't allow their IT partners to share full catalog pricing in a comparison fashion, so we optimize for whatever retailer is chosen for the shopping that trip. (UK grocers do allow comparison interestingly, US doesn't); so with DinnerTime you're gonna get quite different meal recommendations based on which store you happen to choose.

We saw big reductions in special offers during Covid supply disruptions as well as overall price increases for various reasons, including increased shipping costs as well as produce going bad on the docks...all sorts of disruptions...but grocers also saw big increase in revenue as the restaurants were closed and they were the best game in town despite higher prices (still way less to make a meal at home with grocery items than from a restaurant). And that increase in weekly demand put all the more pressure on product prices.

The grocers enjoyed both the operational efficiencies of increased throughput and the higher prices which they have been sticky in reducing; same for many of the CPG food companies...they found they could get away with higher prices...everyone earning more margin than before.

Increased media and political attention can incentivize/pressure competitors to adjust to not be perceived as gouging and as one does, that signal ripples through and others follow. We're seeing some price stability finally, but not deflation in pricing just yet, except when its something that had a big, short term shock that goes away and there's a glut of supply.

On brand loyalty, the best grocers have done an excellent job over the last decade in improving the quality and brand image of their store brands, often being as good or better than national brands...with value.

For instance, in our family we're happy to pick up store brand sparkling waters, but we only do Diet Pepsi when it's buy 2 get 1 free, and flip to Diet Coke if they're doing that deal that week not DP which I prefer. And with lots of items, my wife looks for when there's a deal, then fills pantry/freezer...as well doing bulk stocking at club stores, Costco being our primary (rotisserie chicken is an every week loss leader for them). In Baltimore, she prefers Wegman's as they have great store brands and surprisingly good national brand pricing that on lost of items is better than club...down here in Florida there's a Publix every other block it seems, so that's the primary game in town...fortunately they do a good job overall too...but helps to stock when deals do hit.

Cheap awesome substitute alert. Swap whatever salsa you use for Costcos Kirkland Brand. It’s the truth.

[a fan]

It is pretty crazy right now.

You can see the same item at three separate groceries for 3 widely varying prices. Multiply this x almost every item you shop for on a weekly basis. Good luck bargain shopping. Gotta go to 4 different places to complete a week's shop or you just have to pay through the nose.

I think due to these increasing costs brand loyalty is also headed out the door. I noticed when sodas increased a ton after covid, Coke and Pepsi sat on the shelves untouched. Doubled in price. Store brand colas, always in stock, flew off the shelves.COuldnt find it anywhere. Cheap almost always trumps perceived quality. Especially now that everything has gone up in price so dramatically.

It's indeed quite erratic, but there's always been a game by grocers to have differing 'loss leaders' week to week to promote as if they are indicators of overall prices. BOGO's, coupons, specials...

Our meal planning app tracks all specials at 85K grocery stores nationwide and automatically takes advantage of them in making meal/recipe suggestions. Chicken legs this week, chicken breast next, flounder this week, salmon next, etc. That enables hitting target budgets per serving automatically instead of having to figure it all out for oneself. And all the other factors, health, allergies, skill, time, taste etc.

The chains don't allow their IT partners to share full catalog pricing in a comparison fashion, so we optimize for whatever retailer is chosen for the shopping that trip. (UK grocers do allow comparison interestingly, US doesn't); so with DinnerTime you're gonna get quite different meal recommendations based on which store you happen to choose.

We saw big reductions in special offers during Covid supply disruptions as well as overall price increases for various reasons, including increased shipping costs as well as produce going bad on the docks...all sorts of disruptions...but grocers also saw big increase in revenue as the restaurants were closed and they were the best game in town despite higher prices (still way less to make a meal at home with grocery items than from a restaurant). And that increase in weekly demand put all the more pressure on product prices.

The grocers enjoyed both the operational efficiencies of increased throughput and the higher prices which they have been sticky in reducing; same for many of the CPG food companies...they found they could get away with higher prices...everyone earning more margin than before.

Increased media and political attention can incentivize/pressure competitors to adjust to not be perceived as gouging and as one does, that signal ripples through and others follow. We're seeing some price stability finally, but not deflation in pricing just yet, except when its something that had a big, short term shock that goes away and there's a glut of supply.

On brand loyalty, the best grocers have done an excellent job over the last decade in improving the quality and brand image of their store brands, often being as good or better than national brands...with value.

For instance, in our family we're happy to pick up store brand sparkling waters, but we only do Diet Pepsi when it's buy 2 get 1 free, and flip to Diet Coke if they're doing that deal that week not DP which I prefer. And with lots of items, my wife looks for when there's a deal, then fills pantry/freezer...as well doing bulk stocking at club stores, Costco being our primary (rotisserie chicken is an every week loss leader for them). In Baltimore, she prefers Wegman's as they have great store brands and surprisingly good national brand pricing that on lost of items is better than club...down here in Florida there's a Publix every other block it seems, so that's the primary game in town...fortunately they do a good job overall too...but helps to stock when deals do hit.

Cheap awesome substitute alert. Swap whatever salsa you use for Costcos Kirkland Brand. It’s the truth.

Same goes for their whiskey choices....some of the very best deals in whiskey have been found in those Costco bottlings. Dead serious.

The distilleries they pull from change over time, but, ask for a taste at the counter......you are likely to be quite delighted, and the price can't be beat.

Costo is a pretty amazing company, imho.

[a fan]

GOP Strategy Session: Pretty good jobs and overall report on the economy. So let's talk about the border, and make sure we never fix the problem.

https://www.washingtonpost.com/business ... mployment/

The U.S. economy added 353,000 jobs in January.

The unemployment rate held at 3.7 percent, under 4% for the 24th month in a row.

That is 479,000 new jobs including revisions and 4.6% year over year increase in wages, indicating a robust economy. Strong productivity growth was reported. We have an economy set up to for strong growth for at least the rest of the decade. The reality is that the Biden Administration and Powell’s Fed have done an historically great job of managing out of the pandemic and into prosperity. We are the envy of the world. But let's vote in tax cut Orange Jesus.

Blowing away estimates.

Big upward revision in December’s excellent numbers as well. And critically, wage growth best in past two years. Slight decrease in avg hours worked.

Stock markets are a little disappointed by no rate cuts imminent, but hanging in ok.

Basically crushing the world on a relative basis since end of pandemic.

Right. What we pay Presidents and their administrations to do is manage, to pull this lever or that lever to see if we can maintain consistency and growth. By that metric the current administration has done an excellent job. So the MAGA GOP -- bankrupt for any ideas and unable to govern in any proactive way -- says let's talk about the "invasion" of poor brown people.

Tribe Called Quest for President!

https://getyarn.io/yarn-clip/dbf60a3f-7 ... c2e535ad20

One of my very favorite songs, from a favorite album. Soundtrack for my middle youth in the early-mid 90's.