Astonishing Inflation Data From The BLS

The Market Oracle ^ | 12-28-2009 | By: Larry Edelson

[Scotswife]

Sigh!

I’m going to have to start researching how to succeed at a basic garden aren’t I?

I am a notorious killer of plants.

[theBuckwheat]

In 1913, when the Federal Reserve corporation was set up, its purpose was to ensure that the dollar retained its value. Gold was $20/ounce. Today, gold is $1,104, or a ratio of about 55 times. Put another way, the dollar today is worth only 1.8% of the 1913 dollar. Yet another example of what happens when we give an important private function over to government.

[blam]

"And that’s at Wally World where they USED to keep prices low."

Yup. Their bean & bacon soup that I like went from $0.68 to $1.08 from one visit to the next.
I watched their canned tomatoes go from $0.48 to $0.93 this year too along with other similar increases.

[blam]

"I’m going to have to start researching how to succeed at a basic garden aren’t I?"

Yes you are.
You probably should buy some dried beans and rice now while you can still afford it and in case your garden doesn't work out, lol.

[PGalt]

One way to combat it is to read FR’s nw_arizona_granny’s...Living On Nothing...(Survival Edition)...here...

http://www.freerepublic.com/focus/f-chat/2299939/posts

Thanks to the fabulous posters at granny’s thread.

[Malesherbes]

I printed out the post on “Global Food Crisis” when i first saw it on FR. I’ll track it during the year.

Not only do I no longer believe politicians, I no longer believe any statistics from the government. They lie about inflation. They lie about food production. The CBO lies about the cost of health care “reform.” We are led by a Teleprompter that lies about everything.

[BenLurkin]

bttt

[BenLurkin]

Stagflation.

[blam]

"Not only do I no longer believe politicians, I no longer believe any statistics from the government. They lie about inflation. They lie about food production. The CBO lies about the cost of health care “reform.” We are led by a Teleprompter that lies about everything."

Everyone I know and associate with has said that or something similar in the last six months.

That's definately my opinion too.

[nw_arizona_granny]

Thank you for the kind words, everyone is welcome, we attempt to share what we know and learn on the thread.

Delawhere has an interesting article today on raising rabbits, at home for dinner.

Do come and join in the thread.

Food, gardens, and ways to cut corners and make do with what we have, over 25,000 posts now, in 3 threads.

http://www.freerepublic.com/focus/f-chat/2299939/posts

[Southack]

We’re not getting inflation; we’re getting deflation. Falling home prices. A collapsing commercial real-estate market. Rising unemployment. 77 Million Baby Boomers hitting retirement age circa 2007 to 2025. Falling payrolls.

We’re copying Japan’s 1989 to 2009 path, 20 years later. Hint: Japan owes more than the U.S.

[Nick Danger]

* Food and beverage prices increased an average of 5.6%
* Cereal and bakery prices jumped 11.5%
* Sugar and sweets prices, up 11.8%
* Cooking oils, up 11.6%

Here's an idea: let's burn even more of our corn crop as fuel. Who needs high-fructose corn syrup? Who needs cooking oil? Besides, after we mandate that people burn ever more corn in their cars, we can call the result "inflation" instead of "stupid policy."

[blam]

Monsanto’s GM corn has been shown to cause organ failure in rats. That news should dampen demand for corn, eh?

[Oatka]

IMO, since I do all of the shopping in my house, the food numbers he quoted understate the increases.

Indeed. My wife does most of the shopping (she won't take me because I always find something extra we "need" :-) ). I used work at Wally World and when payday came around, I'd take my leftover pocket money and buy canned goods for our reserve. My experience over a two-year period:
Canned veggies up over 20%
Whole chickens up 100%
WM brand Spam up over 21% (while Spam went up 10%)
WM salsa (great stuff - major staple in our house) up 33%
Bread up 30%, WM Deli bread up 50%
and so on

The flip side is Smith's grocery has been having "case lot" sales of veggies at 50c a can, Span at $1.76, etc. twice a year with gradually (5%) increases. The consumer is still going under tough, with EVERYTHING except wages increasing.