100.1 Why Inflation is OVERHYPED: US Producer Prices

———Ep 100.1 Summary———
Producer prices in the US are elevated, but decelerating. They’re elevated because of demand surges, supply shocks and logistics snarls – all TRANSITORY factors. Producer prices ARE NOT elevated because of permanent, pervasive central bank or government inflationary action.

———See It———

Twitter: https://twitter.com/JeffSnider_AIP
Twitter: https://twitter.com/EmilKalinowski
Alhambra YouTube: https://bit.ly/2Xp3roy
Emil YouTube: https://bit.ly/310yisL
Art: https://davidparkins.com/

———Hear It———

Vurbl: https://bit.ly/3rq4dPn
Apple: https://apple.co/3czMcWN
Deezer: https://bit.ly/3ndoVPE
iHeart: https://ihr.fm/31jq7cI
TuneIn: http://tun.in/pjT2Z
Castro: https://bit.ly/30DMYza
Google: https://bit.ly/3e2Z48M
Spotify: https://spoti.fi/3arP8mY
Pandora: https://pdora.co/2GQL3Qg
Breaker: https://bit.ly/2CpHAFO
Castbox: https://bit.ly/3fJR5xQ
Podbean: https://bit.ly/2QpaDgh
Stitcher: https://bit.ly/2C1M1GB
PlayerFM: https://bit.ly/3piLtjV
Podchaser: https://bit.ly/3oFCrwN
PocketCast: https://pca.st/encarkdt
SoundCloud: https://bit.ly/3l0yFfK
ListenNotes: https://bit.ly/38xY7pb
AmazonMusic: https://amzn.to/2UpEk2P
PodcastAddict: https://bit.ly/2V39Xjr

———Ep 100.1 Topics———

00:00 Show Intro: Do increases in PPI, CPI, and Import/Export prices translate into inflation?
00:20 French shipping conglomerate CMA-CGM has decided to freeze shipping rates till 2022.
03:39 Shipping was a profitable business, during globalization, before 2008 – before the crisis.
06:23 Price surges since 2020 have to do with demand, supply surges and logistical snarls.
08:51 Why is a price surge not textbook, legitimate inflation (persistent, pervasive)?
11:59 An impressive surge in producer prices is taking place – like in 2008 and 2011.
15:47 PPI values in 2021 are repeating the surge-and-fall observed in summer 2020; transitory?
20:24 PPI decelerated month over month, though year over year it accelerated.
22:09 The near-term outlook appears reflationary, though it’ll likely be temporary.
22:49 Will de-globalization raise prices permanently?

———Ep 100.1 References———

The Non-Charitable economics of (Not) Inflation: https://bit.ly/3EpQA9r
Alhambra Investments Blog: https://bit.ly/2VIC2wWlin
RealClear Markets Essays: https://bit.ly/38tL5a7


Jeff Snider, Head of Global Investment Research for Alhambra Investments and Emil Kalinowski. Art by the complex pencil himself, David Parkins. Podcast intro/outro is “The Kill” by Particle House feat. Le June from Epidemic Sound.