Rising Food Prices and Hyperinflation

[tangent4ronpaul]

Cavuto was talking about this last hour, and it's not good. Should probably note the whole ethanol disaster that largely sparked this as well as crop failures in China and elsewhere due to weird weather as driving world food costs up.

First off, we import 5% of our food from Japan and many other countries that import much more have banned imports from that country. Also, the tsunami destroyed the Japanese fishing fleet. As a result, less food from there and more imports into there. Tyson is seeing a huge boost in sales to Japan, in particular. Either way, we get shortages and BigAG has been price gouging as a result.

Restaurants and supermarkets are also really hurting in this country.

Did a google on: food prices in us and the results are a bit alarming. OK, more than a bit. General Mills sold the same amount of food this year, sales are down 6% in the US but the difference was make up in overseas sales. The kicker? - their profits were up 18% for selling the same amount of product.

Anyway, an economist was on an saying that he was predicting hyperinflation to the tune of 78% within 2 years. Obamacare is also going to skyrocket medical costs and when people get to keep 60% of their income (income tax only) - more like 30-40% after all the hidden and other taxes, well the situation just isn't sustainable.

Most people dont have enough land to raise all their food and in most places you can not raise farm animals. My most, I mean where the majority f people live - cities.

Discussion?

-t

[TCE]

That's what a lot of us are predicting, naturally, the timing of it just gets iffy. In my food bills alone, they are up roughly 9% over the year, which is more than four times what inflation supposedly was. Gas and gold has been skyrocketing as well, and it isn't because they are much more scarce, our dollar is worth less.

Be hesitant of their predictions for this reason. I remember in 2009, Beck had Gerald Celente and others on and they stated emphatically that high inflation was certain in the next couple years, he and others were obviously wrong with the timing.

[crazyfacedjenkins]

Cavuto was talking about this last hour, and it's not good. Should probably note the whole ethanol disaster that largely sparked this as well as crop failures in China and elsewhere due to weird weather as driving world food costs up.

First off, we import 5% of our food from Japan and many other countries that import much more have banned imports from that country. Also, the tsunami destroyed the Japanese fishing fleet. As a result, less food from there and more imports into there. Tyson is seeing a huge boost in sales to Japan, in particular. Either way, we get shortages and BigAG has been price gouging as a result.

Restaurants and supermarkets are also really hurting in this country.

Did a google on: food prices in us and the results are a bit alarming. OK, more than a bit. General Mills sold the same amount of food this year, sales are down 6% in the US but the difference was make up in overseas sales. The kicker? - their profits were up 18% for selling the same amount of product.

Anyway, an economist was on an saying that he was predicting hyperinflation to the tune of 78% within 2 years. Obamacare is also going to skyrocket medical costs and when people get to keep 60% of their income (income tax only) - more like 30-40% after all the hidden and other taxes, well the situation just isn't sustainable.

Most people dont have enough land to raise all their food and in most places you can not raise farm animals. My most, I mean where the majority f people live - cities.

Discussion?

-t

It's a bit more complicated and long term than that. The farming community has been aging for sometime, it's a field of study with declining supplies. What I've heard from people in the field is that they've been desperately trying to train younger people to take up the profession. By the way, I'm not talking about berry pickers, I'm referring to the highly educated and technical areas of farming.

There are also shortages, just like you mentioned. Loans are also difficult to get. It's a long term rising trend and with printing money, a lot of commodities tend to rise as well.

[sofia]

all commodities are "ip" because bernanke is printing money to cover Obama's deficits.

[TN_VOL]

This is seriously getting out of control. I have buying bags of the same coffee for my gf, same size, at the same store (Earth Fare), for a couple years now. When I first started buying it was $7.99 and I vividly remember it being $9.99 around Christmas, but tonight it was $11.99. When I saw the price I was dang this coffee has went up!! This tyranny has got to stop or I'm puttiing the next bag on Bernanke's tab. Earth Fare is awesome by the way even if it is a little higher.

[freshjiva]

Start accumulating gold and silver. It's the only way to brace yourself.
You might say, "Well I would, but gold and silver have already risen tremendously. Is it really a good idea to buy now?"

To that, I cannot give you a straight answer, but I can only say this: if you want to lock in your purchasing power as it stands right now, then do it.

It will insulate you from any further damage.

Bernanke and the rest of the Fed governors are still worried about deflation. That tells me "You ain't seen nuttin yet."

[LibForestPaul]

It's a bit more complicated and long term than that. The farming community has been aging for sometime, it's a field of study with declining supplies. What I've heard from people in the field is that they've been desperately trying to train younger people to take up the profession. By the way, I'm not talking about berry pickers, I'm referring to the highly educated and technical areas of farming.

There are also shortages, just like you mentioned. Loans are also difficult to get. It's a long term rising trend and with printing money, a lot of commodities tend to rise as well.

Education, Banking, and Investment...nah no plan there...just coincidence.

[heavenlyboy34]

The good thing about it is that people won't be able to eat as many fattening, high carb foods like bread and pasta. /optimism

[DXDoug]

These post just reminds me im hungry

and what will food price matter when people use food stamps for food anyway.
i dont but a large majority does

those people only ones still able to eat?

well besides us farmers with the chickens and crops. wat wat wat wat. il make it hopefully

[tangent4ronpaul]

I got a a HUGE wake up call when I saw a gal go through our check out stand when I was working in a grocery store with her cart stuffed with prime cuts of beef - she paid for it with more food stamps than a recipient would get in 5 years and loaded it into a brand new caddy w/ temp plates....

At that point I knew the system was corrupt.

-t

[crazyfacedjenkins]

Education, Banking, and Investment...nah no plan there...just coincidence.

You ain't kidding. Is there anything the government touches that doesn't turn to $#@!??

[tangent4ronpaul]

You ain't kidding. Is there anything the government touches that doesn't turn to $#@!??

No