The New CS Board

[jumanji0881]

"The Costs Are Up, Up, Up. We're Seeing Substantial Inflation" Admits A Surprised Warren Buffett As Powell, Yellen See Nothing : https://www.zerohedge.com/markets/costs-are-were-seeing-substantial-inflation-admits-surprised-warren-buffett-powell-yellen

My comment : But Powell says inflation is temporary. Temporary or not, Powell will do nothing to reduce inflation because it would risk bursting the bubbles.

Excerpts:
“It just won’t stop,” Buffett added. “People have money in their pocket and they’ll pay the higher prices.... There's more inflation going on that people would have anticipated six months ago or thereabouts" he added.

WARREN BUFFETT: Let me answer that, then Greg can get more into that. We're seeing very substantial inflation - it's very interesting. I mean, we're raising prices. People are raising prices to us. And it's being accepted. Take home-building. I mean, you know, the cost of-- we've got nine home builders in addition to our manufactured housing 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. And there hasn't yet been because the wage-- the wage stuff follows. I mean, the-- the UAW writes a three-year contract, we got a three-year contract.

But if you're buying steel at General Motors or someplace, you're paying more every day. So it's an economy, really-- it's red hot. I mean, and we weren't expecting it.