The price of food at the grocery store lately? The prices are going up and the portions seem to be shrinking. 2.49 for a phugging head of iceberg lettuce? YGTFKM!!

Going to be more of that coming as gas prices rise...

Gas goes up, food prices do too...

Money supply,..........................

Thanks Bernankrupt

I don't buy iceberg lettuce, but did see that a half gallon of milk went up a dime. And steaks have been on sale cheap, so I bought extra. I don't pay too much attention to the cost of food ever since I noticed that 3/4 of my grocery bill is spent on wine.

Exactly!.... this has been planned American citizens.... enjoy the ride.
Might be a good idea to stock up on non-perishables and meats for the freezer now. We are.

Box of Wheaties 18oz $5.25, lunch meats,Bacon seem to have skyrocketed!

thats why i like Sg, he drinks his dinner.

Recent government report says the US has no inflation except for food and fuel. Go figure.

Would you rather the government set price controls? Why do you hate free-market capitalism?

I don't mind paying the higher prices for food. I get paid very well for what I do. But what I do mind is paying $1.99pd. For apples. Only to bite into one and it's $hit. It gets my blood boil like right now.

Mf

Sobering.....Yes we can!

January 2009 TODAY % chg
Source

Avg. retail price/gallon gas in U.S. $1.83 $3.104 69.6%
1
Crude oil, European Brent (barrel) $43.48 $99.02 127.7%
2
Crude oil, West TX Inter. (barrel) $38.74 $91.38 135.9%
2
Gold: London (per troy oz.) $853.25 $1,369.50 60.5%
2
Corn, No.2 yellow, Central IL $3.56 $6.33 78.1%
2
Soybeans, No. 1 yellow, IL $9.66 $13.75 42.3%
2
Sugar, cane, raw, world, lb. fob $13.37 $35.39 164.7%
2
Unemployment rate, non-farm, overall 7.6% 9.4% 23.7%
3
Unemployment rate, blacks 12.6% 15.8% 25.4%
3
Number of unemployed 11,616,000 14,485,000 24.7%
3
Number of fed. employees, ex. military (curr = 12/10 prelim) 2,779,000 2,840,000 2.2%
3
Real median household income (2008 v 2009) $50,112 $49,777 -0.7%
4
Number of food stamp recipients (curr = 10/10) 31,983,716 43,200,878 35.1%
5
Number of unemployment benefit recipients (curr = 12/10) 7,526,598 9,193,838 22.2%
6
Number of long-term unemployed 2,600,000 6,400,000 146.2%
3
Poverty rate, individuals (2008 v 2009) 13.2% 14.3% 8.3%
4
People in poverty in U.S. (2008 v 2009) 39,800,000 43,600,000 9.5%
4
U.S. rank in Economic Freedom World Rankings 5 9 n/a
10
Present Situation Index (curr = 12/10) 29.9 23.5 -21.4%
11
Failed banks (curr = 2010 + 2011 to date) 140 164 17.1%
12
U.S. dollar versus Japanese yen exchange rate 89.76 82.03 -8.6%
2
U.S. money supply, M1, in billions (curr = 12/10 prelim) 1,575.1 1,865.7 18.4%
13
U.S. money supply, M2, in billions (curr = 12/10 prelim) 8,310.9 8,852.3 6.5%
13
National debt, in trillions $10.627 $14.052 32.2%
14


Just take this last item: In the last two years we have accumulated national debt at a rate more than 27 times as fast as during the rest of our entire nation's history. Over 27 times as fast. Metaphorically speaking, if you are driving in the right lane doing 65 MPH and a car rockets past you in the left lane. 27 times faster, it would be doing 7,555 MPH!

Sources:
(1) U.S. Energy Information Administration; (2) Wall Street Journal; (3) Bureau of Labor Statistics; (4) Census Bureau; (5) USDA; (6) U.S. Dept. of Labor; (7) FHFA; (8) Standard & Poor's/Case-Shiller; (9) RealtyTrac; (10) Heritage Foundation and WSJ; (11) The Conference Board; (12) FDIC; (13) Federal Reserve; (14) U.S. Treasur

That is sobering. It's gonna take a long time to recover from the travesty of the bush years, considering we're still seeing residual effects of the Raygun years.

+1


Fishy

That's why I just live off of Taco Bell and HG800 40 oz's

Hey, well at least our wages have kept up.

And another opinion on why food prices are rising

"J.P. Morgan says that even in the face of recent food price gains, they expect prices to move higher still over the next few months, due to low inventories and slack production. The brutal weather of recent weeks, ranging from cyclones and floods in Australia to uncommonly cold weather in the Southern U.S. and Mexico, has made the agricultural climate even rougher.

Will that have an impact on inflation? In the developed world, the answer is probably not. Agricultural staples make up a surprisingly small amount of consumer inflation measures because of efficiencies in production. The calculus for emerging markets is different. And already food and energy costs are contributing to inflation spikes in China (around 5%), Brazil (5%) and India (9%)."

So maybe its just normal market supply and demand. Maybe no gubmint plot.

I am constantly amazed by folks who think the government can't do anything right but still attribute huge comlex conspiracies to the government.

Normal supply and demand!?!?!?

WTF!?!?

What is everyone supposed to piss their pants about now?

To many people start doing that AM and they will need to find a way to tax that. Maybe a ground use or nutrient extraction tax. You know, for each head of lettuce you grow takes ____ nutrients out of the ground which is then less fertile so you are charged ____. Simple.

Food is not taxed. Of course that fact doesn't support your dog whistle (tax) obsession very well, so continue on.

"Food is not taxed. Of course that fact doesn't support your dog whistle (tax) obsession very well, so continue on.
"

Not directly but the land it is grown on is taxed, the workers that produce it are taxed , transportation to the market is taxed the market is taxed and you are taxed when you go pick it up if you drive or take a bus. After you eat it and take a dump the sewage is taxed. So much for your no tax statement eh!

You know what Dave,..... you and Dan are right,,.... what was I thinking. All this broad spectrum price inflation is just normal market supply and demand.

No way in hell could it be the 50% increase in M3 from '06 - '09.

Snow storms and lack of inventory. That explains the over 100% YOY price increases in a whole slough of commodities. Coupled with 10% unemployment,........musta been one hell of a storm.

Although, if JP Morgan Chase says so then it just has to be true. They're a pretty reputable institution anyhow

When reading their statement above though one should be careful to understand what this little tidbit means;

"Agricultural staples make up a surprisingly small amount of consumer inflation measures because of efficiencies in production. The calculus for emerging markets is different."

What's this ????? We don't use food staples as inflation measures because of seasonal production fluxuations ????? Of course not, we don't want the dolts to know when their getting phucked. Ahhh but other countries don't really give a chit because they'll just toss ya in the laogai for a little re-edumacation. Those countries are experiencing 5-9% inflation?

Hmmm which countries do we export most of our dollars to again?

Hey Private Pile.

Did your parents have any kids that lived?

My mother died before I was born. Thanks.

So, I gather you are an advocate for government price controls of farmed products?

Ever seen Full Metal Jacket? Nevermind.

You gather wrong.

My comment was in reference to your moronic statement that we somehow operate in a free market system. Nothing could be further from the truth.

I see. I didn't realize you were forced to buy a particular brand of lettuce from a particular vendor. Nor do I remember my father being forced to sell to a particular cannery or mill.

I imagine there are some things that are truly further from the truth.

I can see this conversation is completely over your head.

When you take a second to ponder how much choice you have in the currency you are able to purchase goods and services with and who determines the value of that currency,......why don't you hit me back.

Ooooooh, you're one of those uber gubmint control conspiracists. Never mind.

Real original.

Sure. Nothing to see here folks.

Setting interest rates and injecting trillions into the economy has zero effect. Free money is good for everyone. All that "gubmint control" must be in my head. Maybe another layer of tin foil will do the trick.

Must be all that "free market" non-sense causing prices to rise

Did you get past 3rd grade?

Weren't you the guy claiming laissez faire economics protected the consumer? Then don't make me drop the "pot-kettle-black" thing on you, Mr. Econ Prof.

Don't specifically recall making that proclamation here but I may have.

Don't confuse or intentionally construe laissez faire with anarcho-capitalism. You know full well laissez faire is a system that must abide by the rule of law.

Maybe you'd like to explain to the class how economic and social gov't regulation in the marketplace protects consumers from price inflation?

If the class wants to know, they can figure it out themselves. I don't get paid to teach, and I'm not interested in doing it for free when I have to deal with some brickheaded student claiming that laissez faire is something it isn't.

You won't answer my question because you can't. Being proved wrong by a blockhead conspiracy theorist such as myself is something you can't live with........ it's not a matter of choice.

@ kk

I wasn't aware that the setting of interest rates was a conspiracy theory. I think the House Banking Subcommittee might be a little suprised by your revelation.

Although if questioning the prevailing wisdom of the $hitheads that caused this breakdown is what gets you labeled a conspiracy theorist,......................

then I'll wear the label proudly.

A weak mind is one that does not question.

SW,

I don't mind some clown who thinks he knows his ass from a hole in the ground, but doesn't.

One of us has a degree in Economics.

It isn't you.

Put me in my place then Grandmaster.

You're always quick to tout your degree.

Prove it and answer my question.

Didn't say I was the Grandmaster.

I said I know more than you.

And every time you open your piehole, you prove it.

If you want your question answered, then pay your tuition and go learn something like I did.

Then surely you can prove it. Other than just running your mouth as usual.

Still waiting.

You're going to be waiting a while.

Unless you want to go f.uck yourself..........then you can operate on your own schedule.

The brownie is settling in nicely.
Thanks for the laughs.
About time to make the fish tacos.

Couple of ole' cranky vaginas the two of you are

Too easy to get you all pissy like a teenage girl on the rag.

kk at your age you just wish yer little buddy would get so much as chubby.

Don't be a hater