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Thread: Food prices rose 2.6% in one month, most in 50 years.

  1. #1

    Food prices rose 2.6% in one month, most in 50 years.




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  3. #2
    Hell I remember when 2 people could eat 3 meals a day for $20. Back then I could eat out everyday for under $30 a week. I did grow a garden bak then too. The price of food has risen so much in the past 2 decades that I wonder how people can afford to eat these days.
    I boycotted sugar during the 70's because of how high the price was and never went back to using it in my coffee and tea. A lot of people stopped buying that was right before they started putting sugar in everything and started ramping up artificial sugar.
    The price rise has everything to do with inflation.

    A five lb of sugar will last me 2 years. I have ran out of it many times and not even realized it until someone comes over for coffee and I realize I don't have any sugar.

  4. #3
    Maybe........Just maybe.........It's time to cut out the middlemen and "inspectors" in the food chain....

    Cities might be $#@!ed but who really cares.

    Let the honest free market sort it out, no food-stamps, no bail-outs, no government intervention or regulation...

    Farmers would thrive again and a whole lotta suits would be shoveling out their ditches...

  5. #4
    Quote Originally Posted by tod evans View Post
    Maybe........Just maybe.........It's time to cut out the middlemen and "inspectors" in the food chain....

    Cities might be $#@!ed but who really cares.

    Let the honest free market sort it out, no food-stamps, no bail-outs, no government intervention or regulation...

    Farmers would thrive again and a whole lotta suits would be shoveling out their ditches...

    I doubt any of that is going to help.

    The real problem is the unprecedented amount the Fed has been printing, and they're just getting started.

    I saw a video of some keynesian professor saying that it wasn't money printing that caused prices to rise in Zimbabwe, it was the drop in production. He said production from farms being seized dropped 60%.

    The only problem with that is prices didn't increase by about 120%, they increased by about 1,000,000,000,000%.

    So much for that theory.
    Last edited by Madison320; 05-20-2020 at 09:56 AM.

  6. #5
    I've been buying $30 worth of groceries the past few weeks but thats because my dad has been buying chicken lately. Usually its me that buys the chicken.
    "Perhaps one of the most important accomplishments of my administration is minding my own business."

    Calvin Coolidge

  7. #6
    Grocery prices are always gojng up, no doubt about that. It’s monetary inflation. But the current spike is simple (systemic) price gouging. They are raising prices because they can. I predict most to come back down a bit. You won’t be able to give away toilet paper in a month or two.
    "Foreign aid is taking money from the poor people of a rich country, and giving it to the rich people of a poor country." - Ron Paul
    "Beware the Military-Industrial-Financial-Corporate-Internet-Media-Government Complex." - B4L update of General Dwight D. Eisenhower
    "Debt is the drug, Wall St. Banksters are the dealers, and politicians are the addicts." - B4L
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  8. #7
    Quote Originally Posted by Madison320 View Post
    I doubt any of that is going to help.

    The real problem is the unprecedented amount the Fed has been printing, and they're just getting started.
    Getting government and government mandated middlemen out of the food chain would absolutely lower prices and enrich the farmers.

    Granted money printing devalues currency but supporting government and her permitted inspectors and processing facilities is one of the major burdens affecting the price difference between what a farmer makes and what the consumer pays. Doesn't matter what currency is used for the transaction.

  9. #8
    Quote Originally Posted by Madison320 View Post
    Doesn't 2 1/2 percent seem like a bargain when they increased the money supply by ten percent ?



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  11. #9
    Quote Originally Posted by oyarde View Post
    Doesn't 2 1/2 percent seem like a bargain when they increased the money supply by ten percent ?
    Except they increased the money supply by over 700% since 2009. So prices still have to rise by another 697.5%. Assuming they don't print anymore. Ha,ha.

  12. #10
    There should be inflation in food prices because production slowed from the virus. This is a huge supply shock like the oil crisis in the 70s.

    More interesting, the country faced a threat larger than the Great Depression two months ago and the Fed launched a nuclear missile at the problem. I said the Fed was far too timid in 2008. This time the Fed basically said they would do whatever it takes to prevent a drop in incomes when the country opens up. I was very high on their action two months ago. People seem to have a lot of confidence in the Fed and as of right now the Fed looks like geniuses.

    Home demand has barely dropped. https://www.google.com/amp/s/amp.usa.../amp/111702900

    I truthfully can't believe this is going go smoothly but if they hold firm this Fed action might go down as the greatest policy achievement in US history. I will eat crow if they get this wrong. I wonder if Schiff, Ron, Jim Rogers, Zerohedge will do the same if this somehow turns out to be V shaped recovery.

  13. #11
    I dunno , could be . Crow season here usually runs jul 01 to squirrel opener ( Aug 15) and mid Dec to March 01 but hunting licenses expire Feb 28 so Mar 01 hunting must be on a new license. HIP registration is required . I don't hunt or eat crows but have drank Old Crow.

  14. #12
    Quote Originally Posted by Madison320 View Post
    Except they increased the money supply by over 700% since 2009. So prices still have to rise by another 697.5%. Assuming they don't print anymore. Ha,ha.
    That would put a package of bacon at 31.82 if you live in a better state like I do where food is not taxed .



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