Posted on 02/19/2014 6:02:47 AM PST by BlatherNaut
CBS News reports that the combination of food prices being inflated and the stagnation of wages is threatening the middle class. The report noted that staples such as chicken, ground beef, and bacon have skyrocketed in price since 2011: the price of chicken is 18.4% more than it was; ground beef is up 16.8%; and bacon saw a huge increase of 22.8% in price. These price hikes came despite the federal government’s sunny assertion that prices in general have only increased 6.4% in that period. Meanwhile, median income has only risen 1% each year, while the cost of college tuition has climbed 6% to 8% every year for at least forty years. ConvergEx market strategist Nick Colas commented, "Food inflation is far greater than the government thinks it is. The disconnect is severe, because it's the economists that make policy but it's the people who have to live with the outcome of that policy and that disconnect is growing to the point where I think it has to break soon.”
(Excerpt) Read more at breitbart.com ...
The gov’t says higher food prices are not inflation and need to be ignored.
One advantage of being a vegetarian is never worrying over the price of meat.
For the rest: Trader Joe’s!!!!
Nor Gas prices
“threatening the middle class”
that’s the truth
And just yesterday the emperor issued a decree mandating higher fuel efficiency standards for heavy trucks. (you know, the ones that bring food to the stores)
Really - who buys food, gas, and electricity anyway, besides “the rich”.
The Dems don’t care about the price of food, since all their voters get it for “free” with their magic debit cards (linked to your wallet).
But the price of fresh (and even canned) fruit and veggies is raising dramatically too. My wife was complaining just the other day how much the cost of a can of pears has risen at Krogers over the last few months.
I was specifically referring to meat prices, which have increased at the highest rate.
Everything is going up, and will continue to do so as long as the parasite/producer ratio is screwed up in this country.
It cost a lot of money to ship food products to China and back to be processed for the American dinner table
Inflation is a measure of the increase in average prices in the economy. There will be components that have higher price increases than the average and items that have lower price increases than the average. It sucks to have to pay more for beef or the other specific items mentioned in the article but the effect of food prices on household well being has been greatly diminished over time. For example, in 1929 people spent 20% of their income on food for home use. Today that number is only 5.7%.
I suppose housing prices are down so that is supposed to counteract inflation. Conveniently, low housing prices mostly affect the banks, their inflation is what counts, food prices only affect us peons, so it’s irrelevant.
Don’t worry though, the government can bail out the banks.....
FWIW, I tried a $30/wk food challenge in Nomvember. I learned a lot. It's doable, but one can't waste anything and every food has to serve a nutritional purpose. I've upped it to $35/wk and it's not even hard to do.
When something gets subsidized, the price goes up.
How many folks on food stamps now?
Everytime Democrats gain the majority, the main influence in our government infrastructure everything gets messed up, and I mean MESSED UP.
Nor gas prices.
Uh, where do you think CBS got these numbers?
[hint: the government]
The advantage of being a meat eater.
Bambi in the freezer, which feeds me for months, cost me less than a head of lettuce cost you.
“For example, in 1929 people spent 20% of their income on food for home use. Today that number is only 5.7%.”
Remove welfare and food stamps back to the 1929 level and recalculate that and see what you get.
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