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About this blog: I am a native of Alameda County, grew up in Pleasanton and currently live in the house I grew up in that is more than 100 years old. I spent 39 years in the daily newspaper business and wrote a column for more than 25 years in add...  (More)

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Inflation is soaring across the board

Uploaded: Dec 7, 2021
We’ve certainly all felt the impacts of the soaring inflation rate and Biden Administration policies when we go to the gas pump.
Prices have soared year-over-year as the recovering economy coupled with California’s environmental rules have resulted in prices hitting $5 per gallon in some areas. We experienced it first-hand when we drove to South Lake Tahoe last month and then my ladies took a trip over to Costco in Carson City. We have observed that Costco gas prices are about 20 cents per gallon cheaper in Tracy or Manteca than Livermore.
That drops by another dime or more at the Folsom store. Continue on to Carson City and they drop even more. Regular gas, according to Gas Buddy, is $3.39 per gallon in Carson City at Costco compared to $4.19 at East Bay Costco warehouses.
On my trips to my neighborhood market, Raley’s, I see the same thing. I have routinely bought tri-tip roasts for about $4 per pound, a number that had climbed to $5. Imagine my surprise when it hit $10 a pound two weeks ago—it was $9 in this week’s advertisement. Those are prices that I used to pay for steaks on sale.
The same goes for chicken. We like bone-in breasts that serves two of us nicely. For as long as I can remember, I’ve paid 97 cents per pound on sale (it may have dipped a little on occasion, but that’s been a price to stock up.) This week, Raley’s broke it’s normal pattern of sale items finishing .97. The breasts were advertised as a special at $1.27, a hefty percentage increase of more than 30%. And, that’s on an item produced here in California out at Foster Farm’s Modesto-area plant.
The year-over-year inflation was 6.2% in October, the highest since 1990. Biden Administration officials have been used the Federal Reserve’s term that it’s “transitory.” Fed Chairman Jay Powell officially retired that term when he testified before Congress last week.
Given the huge deficit spending by both of the recent presidential administrations, soaring inflation is a real concern that needs to be dealt with sooner as opposed to later so we don’t face economic medicine that we last saw in the 1980s when mortgage interest rates hit more than 15%.


Democracy.
What is it worth to you?

Comments

Posted by Rich Buckley, a resident of Livermore,
on Dec 7, 2021 at 9:46 am

Rich Buckley is a registered user.

There is some input that might be very useful in trying to understand where we stand in downtown Livermore in regards to the legal status of the Katerra Construction Bankruptcy and the Legacy Partners' project dominating the northwest corner block of 1st and So. L Streets in Livermore.

Who is responsible for the nearly $5+-million (my rough guess) in additional construction costs, the bonding company?


Posted by Rich Buckley, a resident of Livermore,
on Dec 7, 2021 at 9:46 am

Rich Buckley is a registered user.

There is some input that might be very useful in trying to understand where we stand in downtown Livermore in regards to the legal status of the Katerra Construction Bankruptcy and the Legacy Partners' project dominating the northwest corner block of 1st and So. L Streets in Livermore.

Who is responsible for the nearly $5+-million (my rough guess) in additional construction costs, the bonding company?


Posted by Rich Buckley, a resident of Livermore,
on Dec 7, 2021 at 9:59 am

Rich Buckley is a registered user.

The question about the bonding company I posted above, raises a bankruptcy issue I'm wondering about. Perhaps the bonding company that bonded Katerra has a limit of their liability and since they have multiple multi-million-dollar construction projects scattered across the US, is the bonding projected by some legal limit, or do they have to cough up all the material and labor increases too?


Posted by Rich Buckley, a resident of Livermore,
on Dec 7, 2021 at 9:59 am

Rich Buckley is a registered user.

The question about the bonding company I posted above, raises a bankruptcy issue I'm wondering about. Perhaps the bonding company that bonded Katerra has a limit of their liability and since they have multiple multi-million-dollar construction projects scattered across the US, is the bonding projected by some legal limit, or do they have to cough up all the material and labor increases too?


Posted by Rich Buckley, a resident of Livermore,
on Dec 7, 2021 at 10:03 am

Rich Buckley is a registered user.

Whatever is going on downtown seems really grossly complicated in progress with the south side of main street torn up with little progress mirroring the north side of first street still apparently idled by the Texas Bankruptcy proceedings of Katerra.


Posted by Rich Buckley, a resident of Livermore,
on Dec 7, 2021 at 10:03 am

Rich Buckley is a registered user.

Whatever is going on downtown seems really grossly complicated in progress with the south side of main street torn up with little progress mirroring the north side of first street still apparently idled by the Texas Bankruptcy proceedings of Katerra.


Posted by Michael Austin , a resident of Pleasanton Meadows,
on Dec 7, 2021 at 4:29 pm

Michael Austin is a registered user.

I filled with unleaded at Livermore Costco yesterday. That Costco gas yesterday was $0.85 a gallon cheaper than the nearest competitor. I saved $8.50 with the ten gallons of Costco gas I put in my car's gas tank.


Posted by Jake Waters, a resident of Birdland,
on Dec 7, 2021 at 5:45 pm

Jake Waters is a registered user.

Any update on our Costco?


Posted by John, a resident of Birdland,
on Dec 9, 2021 at 8:00 am

John is a registered user.

One persons facts are anothers propanganda. If you do not like PW ignore it and don' t read or post.


Posted by Willy, a resident of Old Towne,
on Dec 9, 2021 at 9:34 am

Willy is a registered user.

It would appear to me that the people that voted for Biden are getting what they deserve. It is time to vote all Liberals out of office. Let's get back to basics!


Posted by Kevin, a resident of Castlewood,
on Dec 9, 2021 at 8:05 pm

Kevin is a registered user.

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