Posted on 10/30/2010 1:56:00 PM PDT by FromLori
Every month, JPMorgan Chase dispatches a researcher to several supermarkets in Virginia. The task is to comparison shop for 31 items.
In July, the firm’s personal shopper came back with a stunning report: Wal-Mart had raised its prices 5.8% during the previous month. More significantly, its prices were approaching the levels of competing stores run by Kroger and Safeway. The “low-price leader” still holds its title, but by a noticeably slimmer margin.
(Excerpt) Read more at blogs.forbes.com ...
Typical response: "We need government to solve this."
Government caused this.
Again, government creates POVERTY. Only free-market economies create WEALTH.
This is, of course, no ‘food’ crisis at all. Agricultural commodities are just the first to reflect the inflating dollar and are being used as a haven against inflation. This is a currency crisis.
I think Freepers understand this but true so many other’s don’t none the less this will affect us all at the check out.
Need laws repealed and reversed by incoming conservatives to curtail the inevitable economic disaster of Bush’s big government followed by Obama’s socialist state.
“Government caused this.”
Exactly. Government mandated that basic foodstuffs be used to fuel automobiles.
As has been the trend since government expansion in the early 1900’s, all prices including food prices are going/will go up dramatically because of CommieCare and governmental economic and financial restrictions and takeovers. These must be repealed and overturned.
Well now gee, if the Banks can’t make money by the ton off of selling and foreclosing home mortgage loans, what on earth could they be doing with all of that money that the Federal Reserve is giving them for next to nothing??
Do you suppose they might be jacking up “soft commodities” like food instead?? Most of the buying on Wall Street these days sure isn’t being done by small individual investors, so who else could be jacking up grain prices like that??
Nawwwwww!!!!! Say it ain’t so! Why, we have the most honest and transparent investment banking system in the World...........!!
I try to explain this to people and most just stare like I'm a loon.
I'm building my backyard garden next week as a hedge
The obesity problem will be solved in 2011, 2012
...unless you are on ETB cards
The real story here is NOT about food specifically; it is about how much food prices can be a barometer of general inflation.
The price increases in the report show that it is that barometer right now and the sources it reflects are general commodity prices (grains, dairy & meat, juice concentrates, etc.) and raw material prices for the things that are used for packaging (paper and plastics).
And the main cause of those commodity and raw materials price increases in the midst of a general recession (which means the cause is not rapidly increasing domestic demand) is that the inflation that the Fed claims it cannot see is already being manifested in the economy. Take out everything from the deflating “housing” sector (take “housing” out of the “consumer price index”) and one can see that as soon as housing hits “normal”, or sooner, general inflation will skyrocket.
Bernanke, and all those on the Fed committees siding with him, should be sent to jail.
ping for later reading
Easier to control a populace when they must struggle to meet the daily costs of living.
So many questions....
How many Americans even consider this as a possibility? I’d guess very few.
Imagine the outcry for the government to “do something” if/when it happens. People are already angry about the increased cost of food. Will Joe Average American sit quietly by, tighten his belt and just go with the flow?
What will the ignoramus who is our president propose to solve the problem? What will a (hopefully) non-Democrat congressional majority do?
Interesting times, indeed.
>>>Exactly. Government mandated that basic foodstuffs be used to fuel automobiles.
Red herring. The corn crop this year is going to come in as big, or bigger than ever... the process to make ethanol also yields other products that enter the food chain: things like corn oil, corn starch, and the CO2 that becomes bubbles in your diet soda just to mention a few. Ethanol production is a food AND fuel proposition, not a choice between food or fuel.
"Let them eat cake"
Signs Hyperinflation Is Arriving
This post is gonna be short and sweet—and scary:
http://gonzalolira.blogspot.com/2010/10/signs-hyperinflation-is-arriving.html
Worldwide Food Crisis Looms As Forecasters Predict Record High Prices
http://preventdisease.com/news/10/102910_worldwide_food_crisis.shtml
How interesting that the Cost of Living calculations do NOT include “CORE” items-—like gasoline & food.
Dog food went up 11.75% by shrinking the bag from 40 lbs to 33.2 lbs.
I just have not recieved a single penny more since Jan 1, 2009 to pay for the security/companions I have.
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