Food Prices

And watch for the government to change how stats are calculated in order to minimize how bad it gets.
 
To the OP:

The government has been lying to us on the health of the economy since the clinton admin. Why? Because we didn't, as a nation, want to know the truth. They've been modifying how statistics are collected to paint a rosier picture as they go along. It's worked so well for many failed businesses out there who've now been bailed out, and these same people, or at least those like them, are now running government and think they can just keep doing the same thign.

During the 70's, mid and early, you saw stockers having to reprice food 3 times a week to stay in front of a measly 12% inflation. We are coming on a time when that is going to be nothing.

Back a while ago, Glenn Beck reported on the current inflation of the US Dollar and did a comparison between Carternomics and Obamanomics inflationary policies. You can look up how bad inflation was during the late 70's, and Carter only inflated the dollar by 13%. Obama has inflated it by 130% and is still inflating. Just think of how catastrophic the inflation is we are facing! 100%, 150%?

I just shopped tonight. I got store brand Milk for 2.35 here in MN (Deans was 3.35/gal). Store brand big loaves of bread for 1.29 each (other brands started at 2.50/loaf). Boxes of mac and cheese for 34 cents each (Kraft brand .79/box).

Now consider, 4 months ago, milk here was less than 1.90 for store brand, and big loaves of bread for less than a dollar and mac and cheese was 35 cents for the big brands and 25 for the store brand.

This is a good indicator things are going wrong. I don't even buy meat at the store unless its on 'clearance' aka the last day before they have to sell it or donate it. Even then $2/lbs for ground beef strains my budget. Often, I prefer to go to liquidation stores to get special stuff. I don't care if it's past the 'expiration date' I just get enough to consume in a week. Otherwise, no way would I be able to afford some of the groceries I get.

Prices are going to get much much worse, and you're going to have to learn to shop wisely, ignore name brands and go for cheapest unit price and buy in bulk to prevent yourself from gettign in the bind of having to buy more and more expensive food, frequently. My best find this week? Medium M&M bags for less than 2 bucks.

And if you know how, start growing your own and learn to can if you're able to, because this time next year, it's going to be far worse.
 
I can remember when you could buy a loaf of bread for $0.25. Now a loaf of bread is over $2.00 and even more if you get the fancy stuff. Guess those plastic bags they put it in is adding to all the cost. It was cheaper when it came in a plain old wrapper instead of plastic.
 
The trend I am noticing is not only prices going up. But quietly they are reducing the amount you get in the packages as well.

i don't mean to be singling you out, but in truth we are perched near the tipping point of a deflationary spiral even tho LOTS of evidence suggests that inflation should be rolling full steam ahead, but isn't.

If the money supply keeps shrinking at anywhere near it's present 6% annual rate of contraction then domestic goods are gonna go way down in price. Foreign goods will vary depending on where they come from.

Food is a bad example because we subsidize food so much that it is artificially cheap and has been for 40 years. We should probably be paying twice as much for food, and that would still be a bargain.

1/3 of the world spends over half of their gross income on food.

We spend less than 10%. And we eat some of the most "value added"* food in the world.

(*i could hardly type that without laughing)
 
I can remember when you could buy a loaf of bread for $0.25. Now a loaf of bread is over $2.00 and even more if you get the fancy stuff. Guess those plastic bags they put it in is adding to all the cost. It was cheaper when it came in a plain old wrapper instead of plastic.

Since 1913 the value of the dollar has decreased 50% every 13.5 years on average.

So it would be ordinary for prices for say bread to increase 700% over a 54 year period.
 
Corn prices have a direct bearing on the meat market because the price of feed is the big cost in raising animals for market. The corn crop looked like it would have record year but because of bad weather in some sections of the country it isn’t going to be that big.

It must be a regional thing, but corn was plentiful and cheap in this area this summer, same with bagged corn for animal feed.
 
Corn prices have a direct bearing on the meat market because the price of feed is the big cost in raising animals for market. The corn crop looked like it would have record year but because of bad weather in some sections of the country it isn’t going to be that big.

It must be a regional thing, but corn was plentiful and cheap in this area this summer, same with bagged corn for animal feed.

Using corn for fuel may change that.
 
Corn prices have a direct bearing on the meat market because the price of feed is the big cost in raising animals for market. The corn crop looked like it would have record year but because of bad weather in some sections of the country it isn’t going to be that big.

It must be a regional thing, but corn was plentiful and cheap in this area this summer, same with bagged corn for animal feed.

There was supposed to be a near record wheat crop despite the failure of the Russian crop.

But due to speculation and or elasticity of demand all grain prices are rising and meat will follow if commodities are not front loading an increase in meat prices.

It is hard to tell if this is supply/demand or just profiteering since the world food supply is supposed to be normal.
 
Corn prices have a direct bearing on the meat market because the price of feed is the big cost in raising animals for market. The corn crop looked like it would have record year but because of bad weather in some sections of the country it isn’t going to be that big.

It must be a regional thing, but corn was plentiful and cheap in this area this summer, same with bagged corn for animal feed.

Using corn for fuel may change that.

I think corn ethanol is fading out. It was a terrible idea. And it went afoul in June 2008 when commodities spiked.
 
It must be a regional thing, but corn was plentiful and cheap in this area this summer, same with bagged corn for animal feed.

Using corn for fuel may change that.

I think corn ethanol is fading out. It was a terrible idea. And it went afoul in June 2008 when commodities spiked.

No offense to the industry, but considering the nutritional value, and the need for food, converting it to fuel, could be a real threat to food supplies in the future. In NY Ethanol is still big.
 
Using corn for fuel may change that.

I think corn ethanol is fading out. It was a terrible idea. And it went afoul in June 2008 when commodities spiked.

No offense to the industry, but considering the nutritional value, and the need for food, converting it to fuel, could be a real threat to food supplies in the future. In NY Ethanol is still big.

sorry to hear that. Converting food to fuel was a stupid idea before it even began.

If energy prices were allowed to drive food prices then a large % of the word's population could be driven directly into starvation.

Fortunately the ethanol business model relies on CHEAP corn. So there is a safety valve.
 
I think corn ethanol is fading out. It was a terrible idea. And it went afoul in June 2008 when commodities spiked.

No offense to the industry, but considering the nutritional value, and the need for food, converting it to fuel, could be a real threat to food supplies in the future. In NY Ethanol is still big.

sorry to hear that. Converting food to fuel was a stupid idea before it even began.

If energy prices were allowed to drive food prices then a large % of the word's population could be driven directly into starvation.

Fortunately the ethanol business model relies on CHEAP corn. So there is a safety valve.

Funny, I spent the day at the Bronx Zoo. As much as I love it there, and the Wildlife Conservation Society, I don't think too many place the value of Human Life as highly as the value of Animal Life. If we were involved in a shipwreck, and rescue space was limited, I wonder how long I could swim. :lol: :lol: :lol:

The Oligarchy types are scary when it comes to food distribution and contrived shortages.
 
Ethanol, and really biofuels in general are a scourge on our food supply AND natural resources. The downside for producing it is SO much worse than oil, with less than half the energy per gallon.

If it weren't totally subsidized from corn to tank... it would never survive a month.
 
Ethanol, and really biofuels in general are a scourge on our food supply AND natural resources. The downside for producing it is SO much worse than oil, with less than half the energy per gallon.

If it weren't totally subsidized from corn to tank... it would never survive a month.

great point, the subsidies make it possible. And as you say while creating two gallons of ethanol for every 3 quarts of oil consumed.
 
Something funny is happening, I swear it. Gasoline prices are stable...they've been below $2.50 gal for over a year. But for some reason, natural gas prices around here are exploding. I strongly suspect illegal price gouging.

How can they say "we have almost no inflation" if food and heating cost twice what they did, or more? They don't consider food or energy in indexing inflation? Seriously?

WTF?????
Yes, food and energy are used in calculating inflation. But the PPI, CPI, and PCE are all large baskets of goods, aggregated from the local area up, weighted and applied at the national level. So overall, country as a whole, we're experiencing almost no inflation.

No, it is not.

The Government reported GDP growth rate is adjusted for a bogus definition of inflation used by the government, but it provides an overly optimistic view.



The Government reported GDP growth rate is adjusted for a bogus definition of inflation used by the government, but it provides an overly optimistic view.[/quote]Just because you don't agree with the definitions doesn't mean adjustments aren't made

You are splitting hairs. GDP is by definition adjusted for inflation. Using the CPI as the inflation index. Not the core index that excludes food and energy costs but the complete index.
The BEA hasn't used the CPI in many years. They use the PCE (Personal Consumption Expenditure Price Index) which uses the raw data from the CPI survey, but with different classifications and weights.

I realize that the CPI has been watered down replacing steak with hamburger and appraising additional value to comparable items etc.

But it is still an inflation adjustment all the same.
That's untrue. Hamburger and steak are in seperate categories and are not substitutable. It's not watered down, previous use of a LaSpeyres index at the item level overestimated inflation. Common Misconceptions about the Consumer Price Index: Questions and Answers
 
The trend I am noticing is not only prices going up. But quietly they are reducing the amount you get in the packages as well.
EXACTLY!
I don't know about quietly though. I did my grocery shopping this weekend and I commented a number of times on how small packaging has gotten for several of the items I used to buy! It's disgusting!
 

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