CNBC: Warren Buffett says Berkshire Hathaway is seeing ‘very substantial inflation’ and raising prices
* “We are seeing very substantial inflation,” Warren Buffett said at the conglomerate’s annual shareholder meeting Saturday. “We are raising prices. People are raising prices to us and it’s being accepted.”
* Berkshire Hathaway owns one of the nation’s largest homebuilders, Clayton Homes, along with companies such as Benjamin Moore paints and Shaw flooring.
* Inflation has begun to accelerate recently due to multiple factors, including increasing demand and struggles with some areas of the supply chain, as well as just easier comparisons with the pace of a year ago.
Warren Buffett is seeing inflation among Berkshire Hathaway’s collection of businesses as the economic recovery from the Covid pandemic kicks into high gear.
“We are seeing very substantial inflation,” the Berkshire chairman and CEO said at the conglomerate’s annual shareholder meeting Saturday. “It’s very interesting. We are raising prices. People are raising prices to us and it’s being accepted.”
“We’ve got nine homebuilders in addition to our manufacture housing and operation, which is the largest in the country. So we really do a lot of housing. The costs are just up, up, up. Steel costs, you know, just every day they’re going up,” the legendary investor added.
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Update: "The Costs Are Up, Up, Up. We're Seeing Substantial Inflation" Admits A Surprised Warren Buffett As Powell, Yellen See Nothing (Zero /Hedge)
WNU Editor: It is not only an America situation. I live in Canada and prices are going up substantially for food, housing, and other essentials. My friends in Europe are telling me the same thing.
4 comments:
Costs are going up and lead times are stretching out. What Trump, Biden, and Congress have done will set this country back for years.
>What Trump, Biden, and Congress have done will set this country back for years.
Small reminder that it was Bush and Obama that began the limitless money printing.
Yep.
How does Bush, Obama, Trump and Biden cause inflation in Europe?
Did see a news report that Chinese Central Bank had created a bunch of money. Has the EU as well?
I am convinced that when you print money you don't solve anything. You just move the decimal point around. You just jimmy the system and things settle out as before.
Except for the fo9llwoing. People who get 1st dibs on the newly created money have an unfair advantage They can buy up assets form people who did not get 1st dibs. People on fixed incomes usually retirees get hurt.
If you are politician, banker or in the at set, you get 1qt dibs on the money.
Creating money by fiat, COVID lockdowns, COVID dislocations, m,=massive spending ..al of it and made are causing the inflation.
I hope G-d created a new circle of Hell for those assholes!
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