If you believe the government inflation data in the US or UK, you are a fool.
I repeat, you are a fool.
How the government can report 2% to 3% inflation with a straight face is beyond me. Just go to the grocery store. Just try to fill up your gas tank. Just try to send a kid to college, or buy healthcare. Just go to the dentist (oops, sorry, scratch that one). Just try to get by.
2% to 3%. Who are they kidding?
Families' annual grocery bill rises by £800
Families are having to spend almost £800 more on their annual grocery bills as the highest rate of food inflation for a generation drives up supermarket prices, research suggested yesterday.
A kilo of Tesco garden peas has increased from £1.10 to £1.79; a dozen medium free-range eggs from Sainsbury's has climbed from £1.75 to £2.58; and a bag of fusilli pasta from Asda has almost doubled, from 37p to 67p.
The increases suggest that supermarket food inflation is more than seven times the official rate of inflation.
April 25, 2008
UK report: Grocery prices up 15% in the past year. Yet the UK government, like their lying peers in the US, reports inflation is under control
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I keep meaning to look a bit more into exactly what is counted in that "basket of goods" in the US. It sure seems like the stuff I buy has been going up faster than 4%/year (I think that is the latest figure for the past 12 months in the US).
"...excluding volatile food and energy prices, everything is coming up roses."
Works ok for a bike riding anorexic.
For the rest of us...not so much.
The UK Labour government is cheating the hardworking people of that country of the fruits of their labour by a policy of deliberate inflation which is devaluing the currency and hence the purchasing power of the average wage. Like the US government, they are not only shameless, but heartless.
Ah, it's not like the average Yurpeon or Yank can't stand to lose some weight.
Don't think of it as rationing or shortages. Think of it as nouvelle cuisine comes to the masses.
Last night I noticed a small bag of M&M's is now $1.19 at the grocery store! Same for a Snickers etc. I swear you used to be able to buy a king size for 99 cents just 2 years ago. I quit buying the smaller size a couple years ago when they hit 79 cents. 40 cent increase in 2 years is 6% inflation? Does not compute! On the plus side, I have lost 20 pounds in the last 4 months because I just stopped buying stuff like snacks at work because I became disgusted with the prices. The vending machine company raised their prices 3 times in 6 months. I hope massive amounts of companies fail because of inflation. It will make the remaining become more competitive which should lower prices or at least stabilize them.
core inflation is fine when oil and food prices are very volatile.
i.e. large swings up AND DOWN.
but there are no down swings. they only are going up so core inflation is not relevent.
why some congressman will not make this point with ben bernanke is beyond me.
Once again the typical HPer is exposed for the piss poor McWorker that he is.
As a % of my icome, food and gas is about 5%, if that. I don't exactly stay up at night worrying if the price of milk goes up another $1 or the price of gas hits $4. I'm not even sure what milk costs to be honest. I don't know because I don't care and don't monitor prices like you all do.
People that do are McWorkers making $11 an hour and living paycheck to paycheck. The fact you are all so freaked out by food inflation shows who you really are.
But it's fun to play make believe online so you all keep telling each other you have seven figures invtesed in gold if you want.
Food and gas prices don't affect me either (except restaurant bills). But it's something I think a lot about. Why?
Because HP isn't about HP'ers. It's about our fellow citizens, our country, our world. When you see people making less than $1 a day (a good percentage of your fellow humans) having to bear a 100% rise in basic food prices, you should be concerned. It's sad to see how many people aren't concerned though about their fellow man. Kind of shows you where we're heading as a planet.
And if HP isn't your cup of tea, I think self centered jackasses probably have their own blog somewhere
Keith is right, but the sophisticated high roller who says he doesn't need to worry about prices maybe doesn't realize that inflation affects us ALL. Maybe in his line of work he just caters to the very rich, too. Otherwise, maybe he'll realize that when regular people spend more on food and house payments, they can't buy other stuff- the stuff this guy probably shovels.
They have us right where they want us; don't they?
"Because HP isn't about HP'ers. It's about our fellow citizens, our country, our world."
Not it isn't.
HP is about taking pleasure in the misery of others while profiting.
All you talk about is how **I** will buy a house at 70% off from a desperate FB.
And how **I** am so smart because I sold at the peak.
And how **I** made so much money shorting this or that stock.
I'm self centered, sure. No less than you and your HP followers. At least I admit I don't give a shit about the rest of the world. You pay lip service to it which is worse as you're not being honest.
Obviously what has caused the cost of everything to suddenly skyrocket is that 1 billion new people were born in the last 4 months.
Anon 2:24 - "Let them eat cake".
Europe is on a one way express train to self destruction,
No stop signs No speed limit.
Hundreds of years of consistent bad choices are finally coming home to roost.
Man, its gonna get real bad real fast, stay the heck away from Europe.
People that do are McWorkers making $11 an hour and living paycheck to paycheck. The fact you are all so freaked out by food inflation shows who you really are.
Oh yeah, you're a big shot. The reason you come here all the time to bitch is because you didn't follow our advice and is now getting hammered by the rotten economy and your pathetic financial decisions. I bet anything that you are a financial mess, because financially secured people NEVER brag about it.
Now go back to your millionaire deals, Warren Buffet wannabe; we don't want to "waste" your precious time.
"Oh yeah, you're a big shot. The reason you come here all the time to bitch is because you didn't follow our advice and is now getting hammered by the rotten economy and your pathetic financial decisions. I bet anything that you are a financial mess, because financially secured people NEVER brag about it."
No. The reason I come here is you are very entertaining in a goofball kind of way. I didn't brag about anything. I just stated that food inflation doesn't worry me. Stating a fact that's all.
I also pointed out that most people who post here are full of shit. They say they have all this fabulous wealth and then freak out that milk is up 10%.
If given a choice between lower food cost and higher food cost, I'll take lower. However, I'm not getting all bent out of shape over it since an increase in the cost of food is almost inconsequential to me. And if all of you made the income you all claim to make, it wouldn't affect you either.
Don't assume that everyone who doesn't follow the doom and gloom financial play book is in some dire financial situation.
Most people don't understand that inflation is not price increases but the cause of price increases. When people say 'food inflation' does that really make sense?
I didn't understand that the Fed cause of most inflation up until a few months ago. I don't think most of the population will ever understand this.
Why do I keep doing the impersonation of that British cashier on the picture, with the same Brit accent, carrying an imaginary conversation with a lady shopper.
"Oh, hello there, Madam! Pardon me, I don't mean to be a wanker, but you have a lotta bottle for purchasing these bloody cookies..."
"It's sad to see how many people aren't concerned though about their fellow man. Kind of shows you where we're heading as a planet."
Keith, you need to prioritize. You can be concerned about your family, your neighbours, your town and your country. But to be concerned about people living on the other side of the globe is just stupid.
All the the people of a place like Bangladesh could die tomorrow and it would mean nothing to me. And it shouldn't mean anything to any thinking person not living there either.
I'll use things that I buy most frequently, and out of necessity to show you the increase since January '08.
Bread 10%
Milk 9%
Gas 20%
Healthcare 14%
Pet Food 11%
There are some things that haven't increased like my auto insurance but for the most part, I am spending at least 10% more for the same amount of shit.
It's like the assholes that churn out these bullshit numbers have never been to the grocery store or gas station.
Well, the British diet is one of the worst on earth.
Hey Anon,
First, you're wrong.
Second, get some courage, man - get a handle.
Suggestions for you:
- WhoCaresIfPoorPeopleDie?
- ReElect Mugabe
- I don't buy Milk, so I don't care
- The Real Hank Paulson
HPers any other ideas for a handle?
"If you don't care about unnecessary inflation, you're a financial retard."
i concur.
"I'm not even sure what milk costs to be honest. I don't know because I don't care..."
Marie Antoinette didn't give a shit either.
"financially secured people NEVER brag about it"
True.
On the other hand, you can't expect the morbidly self-obsessed to have good manners.
;)
The the anonyjackass who posted that food inflation doesn't matter:
$1,600 per household x 100 million households = $160 billion per year in extra grocery bills
That's $160 billion less to be spent in restuarants, stores, hotels, flights etc
The entire economic stimulus rebate has been wiped out and then some. Does it register in your little pea-brain now?
"Just go to the dentist (oops, sorry, scratch that one) . . ."
Good one, Keith. Only an American in England could so cleverly state the obvious. I'm still laughing.
There is a middle ground between the super selfish and the super bleeding heart...IE HPers who though we are a bit on the radical side also seem to be more practical and willing to face the music not hide from it.
Do I think we deserve a financial spanking and some suffering in order to appreciate things like our grandparents did...Yup.
Do I NOT want to see the lower economical rung of people who are barely haging on to not suffer too bad such as children and seniors?...Yup.
To make blanket statements is stupid...Some people do deserve to starve because they make horrible decisions and can't seem to help themselves no matter how much aid you send them.
Some wannabe dimwits don't have any idea what real crime is like if the system starts to break down like the anon at 2:24pm.
If food is up means other things are up meaning less $ around meaning usually more crime...If his daughter/wife/son is out and criminals are trying to hustle and make a buck and he/she gets caught up in it...Then bad things happen.
How do I know this? Am I talking out of my ass?...Nope Prison cop in a prison full of lifers doing time for robbery that turned to rape/murder or bad GBI.
So again I say to those who say they make too much to care...Or how they are insulated from any financial instability...Hope you like living like the middle class Brazilians or the whites in South Africa then.
I have plenty of white partners that won't go to certain parts of Cali based on fears...I myself would hope for a better tommorow for my country besides all this "ME" or "I" conversations.
Plus honestly now to all doubters...How many times has HP been right on the $$$?
Even when fnancial wizards, PHDs, Talking Heads and everyone else was calling us kooks or tinfoil hat wearers?
Look at the economy now almost one bad incident away from meltdown and doesn't seem to be looking any better.
Keefer said:
‘Because HP isn't about HP'ers. It's about our fellow citizens, our country, our world. When you see people making less than $1 a day (a good percentage of your fellow humans) having to bear a 100% rise in basic food prices, you should be concerned. It's sad to see how many people aren't concerned though about their fellow man. Kind of shows you where we're heading as a planet.’
Not so..
It’s the inconsistency of whom we care for, that makes people not care.
Poor Mexicans, (let them die)
Poor Tibetans, (oh my, they are special)
Poor Iraqis, (to hell with them, we don’t police the world)
Poor Haitians, (save them now from eating dirt)
Poor home debtors, (well, they have taken on to much debt and are FBers let them fry)
Poor forever starving children of Africa, (send rice today cant you see that annoying fly on their face)
Poor struggling people of Israel (who cares, they are not Christians and have no oil)
Poor Darfurians, (woo, uber-cause, very PC to support)
Poor Japanese fishermen, (what? Let them drown, they catch Dolphins)
DOPES!
Looks like we support ‘only people who agree with our self righteous ideas’.
Major side effect of bashing the war in Iraq is that Americans will not support future important causes for a long time to come, the most vocal ‘anti Iraq war noise makers’ will likely be impacted the most, ex. If France gets nuked tomorrow Americans will turn their heads to other way.
DOPES!
Well, I spoke to a trucker today at a resturant and he told me that all of the Drivers are going to STOP their trucks in a month or two at the same moment. This will be a national Trucker walk off to protest the high cost of fuel. He sez have three weeks of food on hand as the food for stores will rot in the feilds and warehouses during the strike.
FMW
Pardon me for using common sense in a GOP/Bush era, but don't we have thousands of pumped up inmates with a lot of free time and energy on their hands, who could be used to grow food in our vast empty land. Hey, if Wesley Snipes can kick vampire a$$, he can certainly grow some avocados and lettuce for us. Just an idea!
Today I saw a lone protester standing with a sign outside of the Madrid Restaurant which said "Prices have become so High I can't eat at the Madrid anymore".
Just your average DINER! It's starting.
FMW: Unfortunately, the truckers aren't that organized. Although it will make the news and I support the protest, crops won't rot in the field. All large produce companies have cold storage buildings and warehouses. Groceries will make it to market via truckers working for commercial and corporate operations that won't participate in the strike, rail, and Mexican trucking companies. Yep, thanks to NAFTA Mexican trucking companies are already doing business here and will just suck up the void left by any attempted strike. Its a good idea in theory, but won't make a bit of difference in practice.
anon said..
I'm not even sure what milk costs to be honest. I don't know because I don't care and don't monitor prices like you all do.
Thank you Loadsamoney, this was filmed back in the 80s before the last property crash.
http://www.youtube.com/watch?v=SgUYUOGvVZM&NR=1
Yes anon, I did some research last night and it appears that the truckers that want to strile are just the small guys and the driver owner types. The large companies are under cutting them on bids to drive them out of business and then the Corporations just take over the business and raise pricers to cover fuel costs and make a profit.
Also, Strike one was April 1, which was not even a blip. Strike 2is May 1 and Strike 3 is May 5.
FMW
Well - it could be worse for those Brits. They could be stuck in the US where:
* Their dollar is worth much less than the pound, euro, Canadian $, etc. etc.
* Their taxes are spent on endless war and bailing out banks instead of free health care.
"As a % of my icome, food and gas is about 5%, if that. I don't exactly stay up at night worrying if the price of milk goes up another $1 or the price of gas hits $4. I'm not even sure what milk costs to be honest. I don't know because I don't care and don't monitor prices like you all do.
People that do are McWorkers making $11 an hour and living paycheck to paycheck. The fact you are all so freaked out by food inflation shows who you really are."
-----------------------------------
I Spend anywhere from $1200 - $1700a month on food and gas to feed many mouth's and drive a few miles and I do care about the prices of such commodities.
If I were a bigshot, I would divide my monthly food and gas expensives by my state reportable income and imply it's 10% of the gross, but after I get done paying federal, state, local, school and every other conceivable tax known to man, there's about 1/2 of that left to play with and is needed for health care, school tuition, auto expenses and insurance, mortgage payment, home insurance, gas bill, electric bill, water bill, sewer bill, phone, cable and internet, church donation, trash pickup, clothing for work, clothing for school and now we can start paying for the non periodic items like a chair to sit on or a hot water heater to replace or a computer that's broken, a birthday gift, a cake, a tv, the list can go on forever.
I'm actually quite concerned about inflation and understand all to well how easy it is to liquidate an income in excess of $11 a hour.
Government reported inflation figures are a joke and we all know it. When you have no one to support but yourself, you can pretend that none of it matters...
This is heading our way to the U.S. Food prices are already rising quickly and now poppy farmers in Afghanistan are starting to grow wheat crops as a more profitable alternative to heroin!
Find out more at my blog:
http://foodpanic.blogspot.com/
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