Inflation

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Doodoo
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Re: Inflation

Post by Doodoo » May 18, 2022, 6:39 pm

If there is a demand for a ANY product then it will survive inflation
Fish and chips, Scotch, Condoms, Cable Television, Internet and the list goes on

These are all Want items and not Need items



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AlexO
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Re: Inflation

Post by AlexO » May 18, 2022, 6:50 pm

stattointhailand wrote:
May 18, 2022, 6:34 pm
But ....but ..... but ..... what happened to the millions of extra fish our British Fishing Industry could catch when we left them nasty Europeans and claimed our own fish back
Once again you demonstrate your complete lack of knowledge on subjects you post on. The waters are overfished, there is hardly anything left to catch, and the EU boats still have access to our waters due to the deal worked out. It will take a good few years of relatively small scale fishing to allow stocks to recover if ever.

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stattointhailand
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Re: Inflation

Post by stattointhailand » May 18, 2022, 7:01 pm

I think you will find that most sensible people were saying exactly that Alex ....... it was the Brexiteers that were saying it was all "fear mongering" and we would need extra boats and manpower to cope with the extra catch

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Re: Inflation

Post by papafarang » June 10, 2022, 7:51 am

Biden blaming Putin for inflation is a joke. Seems the flow of fossil fuels continues at a fast pace. It seems the west just does not have capacity to refine oil products as demand has increased. Since last year the profit on refining petrol went from $9.26 profit per barrel up to $43.11 per barrel, up 366%. And diesel was $6.84 profit per barrel up to $51.13 up 648%. The only thing Russian sanctions seem to have done is make more money for producers ,including Russian producers. God knows what will happen when we do finally drop Russian oil and gas.
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AlexO
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Re: Inflation

Post by AlexO » June 10, 2022, 11:26 am

Pre Covid the Wests refineries were keeping up with demands without any problems. The fact is that most oil producing nations cut back production due to lack of demand during the Pandemic downturn. It takes time to ramp up production to handle the demand that has exceeded expected levels again. That's why producers/refiners are making big bucks at the moment. Plenty of oil and gas supplies worldwide to meet demands if/when Russian supplies are completely dropped. Its just the distribution logistics that will take time to be sorted out.

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tamada
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Re: Inflation

Post by tamada » June 10, 2022, 11:38 am

AlexO wrote:
June 10, 2022, 11:26 am
Pre Covid the Wests refineries were keeping up with demands without any problems. The fact is that most oil producing nations cut back production due to lack of demand during the Pandemic downturn. It takes time to ramp up production to handle the demand that has exceeded expected levels again. That's why producers/refiners are making big bucks at the moment. Plenty of oil and gas supplies worldwide to meet demands if/when Russian supplies are completely dropped. Its just the distribution logistics that will take time to be sorted out.
Add in the factor that globally, there is no room for any rapid upward expansion within the refining part of the industry, it's just another bottleneck. Although some smaller refineries have been added since 2005, the last large US refinery was built in 1976 while others have only been upgraded. They have ramped up and are probably flat out already. Although the bulk of the US's distillates are exported to Canada and Mexico, about 180 other countries depend to some degree on the US's refined products.

So a question arises about national oil reserves. When it came to gas, we were suddenly made aware of how little storage there was in Europe after Putin's invasion. After Covid hit the world, we were being regaled with stories about oil tankers standing off at anchor for weeks and months as there was no place to store it. I guess apart from the US's strategic reserve, not many other western nations have invested in meaningful oil storage either? I recall when Forties oil production in the North Sea was hit by pipeline issues, the Grangemouth refinery in Scotland had to quickly shut down a couple of refining trains and reduce output. The option of importing crude to keep the trains running would have been uneconomical. The margins are fine.

Just read that the Chinese backers of the Grangemouth refinery may be considering cutting their losses which could lead to its closure. No word from Sturgeon on that one yet.
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AlexO
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Re: Inflation

Post by AlexO » June 11, 2022, 10:41 am

Just read that the Chinese backers of the Grangemouth refinery may be considering cutting their losses which could lead to its closure. No word from Sturgeon on that one yet.
No chance of Nippy doing anything to help Grangemouth. Against her 'Green' masters policies and her unattainable Fossil fuel free and Carbon Neutral by 2030 death wish for Scotland.
Does not matter that closure of the Grangemouth Refinery will turn the area into an employment desert, she needs to keep her coalition with the unelected Greens to maintain her tiny majority in Holyrood.
On Strategic Reserves I found this and while gas is not mentioned there is a reserves of fuel somewhere in the UK.

According to a March 2001 agreement, all of the then-30 members of the International Energy Agency must have a strategic petroleum reserve equal to 90 days of the previous year's net oil imports for their respective countries.[6][7] Only net-exporter members of the IEA are exempt from this requirement. The exempt countries are Canada, Estonia, Mexico, the Netherlands, Norway, and the United States.[2] However, the UK and Denmark later created their own strategic reserves in order to meet their legal obligations as European Union member states -- this agreement was reviewed and ratified by Steven Brown in 2008

glalt
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Re: Inflation

Post by glalt » June 11, 2022, 11:06 am

Anyway you look at it, there is some really shady business going on especially in the US oil market. Is it the oil companies profiteering or is it the greenies demanding Biden to stop the pipeline and changing drilling laws?

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tamada
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Re: Inflation

Post by tamada » June 11, 2022, 11:27 am

glalt wrote:
June 11, 2022, 11:06 am
Anyway you look at it, there is some really shady business going on especially in the US oil market. Is it the oil companies profiteering or is it the greenies demanding Biden to stop the pipeline and changing drilling laws?
It's a largely free market and really nothing to do with the producers or the refiners. After OPEC, it's the traders that wield the real power. Then the hedge fund managers on Wall Street. Then governments with their taxes and duties. The consumer's financial well being is of little import to all of the preceding.

I was reading earlier how the US mid-terms will be focusing voters attention on Biden's poor performance against inflation and the rising cost of gasoline and diesel.

I was reading earlier how the UK's local by-elections will be focusing attention on Johnson's poor performance against inflation and the rising cost of petrol and diesel.

I was reading earlier how the recent Australian election focused attention on Morrison's poor performance against inflation and the rising cost of petrol and diesel.

Meanwhile, Thailand's lumpen masses (thanx Alex) have been openly encouraged to grow more weed.
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noosard
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Re: Inflation

Post by noosard » June 13, 2022, 6:53 am

messageImage_1655077851760.jpg

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tamada
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Re: Inflation

Post by tamada » June 13, 2022, 7:26 am

^ some expensive farts there.
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rick
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Re: Inflation

Post by rick » June 15, 2022, 9:18 pm

Spotted shrinkflation in my Snack jack snacks 17 grams to 16 or 15 grams. Petrol up another baht, and of course the proposed revision of the Northern Island protocol has seen the GBP/Baht exchange rate fall by 4% this week. That's my pension increase wiped out already......

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tamada
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Re: Inflation

Post by tamada » July 12, 2022, 3:39 pm

This is very good. It's bad but it's very good.

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Re: Inflation

Post by papafarang » August 6, 2022, 8:46 am

Hilarious , the bank of england raised interest rates to 1.75% saying it would encourage people to save. I'm not an economists but if inflation is indeed 13% would that not mean saving money you can lose 11.25% a year.even if interest rates were 13% your money wouldn't be worth any more even in a years time. The world is nuts
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tamada
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Re: Inflation

Post by tamada » August 6, 2022, 9:03 am

papafarang wrote:
August 6, 2022, 8:46 am
Hilarious , the bank of england raised interest rates to 1.75% saying it would encourage people to save. I'm not an economists but if inflation is indeed 13% would that not mean saving money you can lose 11.25% a year.even if interest rates were 13% your money wouldn't be worth any more even in a years time. The world is nuts
You'll also note how the gobshite politicians all unloaded on the BoE after the rate hike announcement, blaming them for inflation, global warming, unplanned pregnancies and the price of fish.
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parrot
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Re: Inflation

Post by parrot » August 6, 2022, 4:29 pm

Stopped by Ngeesoon on the way into town for my Saturday noodle slurp. Many prices still the same as last year.....or years ago. My 500g Kellogg's Corn Flakes (still made with Real Corn!!)....still 94 Baht after at least 7 years. I put one box in my cart, then walked over a few aisles for fruit juice (still 54 Baht for Tipco). I turned around and found a 220g bag of Dark Chocolate Granola in the cart......I figured someone mistakenly placed it there. When I went to return it to the cereal aisle, one of the stock girls said she had put it in my basket......free!

In the Royal Produce Shop in Central, string beans.......buy one get one.
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parrot
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Re: Inflation

Post by parrot » August 7, 2022, 10:22 am

Okay, so the use by date on the free bag of Dark Chocolate Granola is later this month.......it's as delicious as the 5baht unopened bag of potato chips that I found hiding under my driver's seat. Use by dates aren't as useful as they use to be.

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Khun Paul
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Re: Inflation

Post by Khun Paul » August 7, 2022, 10:34 am

As I understood it, Sell by dates was a means whereby the Manufacturer or seller used it to protect themselves from being sued . This was simplistic way told me years ago , it also allowed shops etc to return said items back to the maker which was then probably automatically relabelled and sent out again.

As an aside while in the Army we found a cache of the old ten man packs in tins, all tested was fine, hidden underground for thirty odd years, the only obvious visual was that the chocolate upon opening was discoloured but tasted great. The cardboard containers were damaged but hell what do you expect perfection

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Re: Inflation

Post by semperfiguy » August 7, 2022, 10:53 am

For years I have been buying these cookies for a snack. They used to package them 12 cookies per pack for 10 Baht. Now they have cut the package size down to 8 cookies and raised the price to 12 Baht at Big C, so that's an 80% price increase per cookie. The price at 7/11 in Khon Kaen a few weeks back was 13 Baht. Most people might say it's not a big deal, but if every vendor uses this kind of method to gouge the consumer, our monthly grocery bill will be taking a huge hit.
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tamada
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Re: Inflation

Post by tamada » August 7, 2022, 1:15 pm

semperfiguy wrote:
August 7, 2022, 10:53 am
For years I have been buying these cookies for a snack. They used to package them 12 cookies per pack for 10 Baht. Now they have cut the package size down to 8 cookies and raised the price to 12 Baht at Big C, so that's an 80% price increase per cookie. The price at 7/11 in Khon Kaen a few weeks back was 13 Baht. Most people might say it's not a big deal, but if every vendor uses this kind of method to gouge the consumer, our monthly grocery bill will be taking a huge hit.
Downsizing while up-pricing has been on the go for years and not only in Thailand. It's true though that you're usually made aware of it when something you regularly buy changes suddenly so that's why they do it in phases. Like certain Thai breweries with three different sizes/prices for a large bottle of piss. You don't notice it much until you buy a case and it doesn't fit when stacked with the one bought earlier. When faced with that quandary, I try to drink more or faster or start earlier.
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