No demand so why are things expensive

[syed putra]

Resort bookings in US down 30%.
People are not spending this holiday season.
They are staying home. Not even travelling.
The stimulus was to replace income lost from business closures due to covid. Malls remain empty. Or half dead.
So why is there a interest rate hike to beat inflation! Nobody is spending in the west!

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July 22, 20223:29 AM GMT+8Last Updated 4 hours ago

• Energy

Oil slumps $3/bbl on gasoline stockpiles, rate hikes and resuming supply​

By Laila Kearney

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2 minute read

Oil pump jacks are seen at the Vaca Muerta shale oil and gas deposit in the Patagonian province of Neuquen, Argentina, January 21, 2019. REUTERS/Agustin Marcarian

• Summary
• Companies

• Oil prices fall for second session
• Russia pumps Nord Stream gas to Europe again
• Libya's NOC restarts output at several oilfields
• Gazprom resumes gas flows to EU via Nord Stream 1 pipeline
• ECB raises interest rates

NEW YORK, July 21 (Reuters) - Oil prices fell more than $3 a barrel on Thursday on higher U.S. gasoline stockpiles and after a European Central Bank (ECB) rate hike stoked demand worries, while returning oil supply from Libya and the resumption of Russia's gas flows to Europe eased supply restraints.
Brent crude futures settled at $103.86 a barrel, falling $3.06, or 2.9%. U.S. West Texas Intermediate crude settled at $96.35 a barrel, declining $3.53, or 3.5%.

 

[congo9]

Stagflation is coming in.

 

[Rogue Trader]

Because all the goods are stuck at the LA port

 

[batman1]

GST coming soon.

 

[Boliao]

Vendors are passing the cost to consumers. Same reason why airlines tickets are expensive during COVID.

 

[red amoeba]

No ability why PAP MPs pay so high ?

 

[syed putra]

Because all the goods are stuck at the LA port

Califirnia has mandated that unions run trucking companies from next week. Companies with more than 99 trucks must downsize.
I think delivery of goods will be affected by those communist that controls the state.