– The Real Inflation Fear – US Food Prices Are Up 19% In 2014 (ZeroHedge, March 26, 2014):
We are sure the weather is to blame but what happens when pent-up demand (from a frosty east coast emerging from its hibernation) bumps up against a drought-stricken west coast unable to plant to meet that demand? The spot price (not futures speculation-driven) of US Foodstuffs is the best performing asset in 2014 – up a staggering 19%…
h/t Bloomberg’s Chase van der Rhoer
And it will only get much, much worse.
And 2008 will seem like a walk in the park.
Flashback:
Quantitative easing = printing money = creating money out of thin air = increasing the money supply = inflation = hidden tax on monetary assets = theft!
When a country embarks on deficit financing (Obamanomics) and inflationism (Quantitative easing) you wipe out the middle class and wealth is transferred from the middle class and the poor to the rich.
– Ron Paul“Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.”
– Ron Paul
Since beef and chicken are up 300-400% since 2010, this is no great surprise. Fresh fruit is up 400%. The price of food isn’t just from the drought…..it is going up because the value of our dollar is dropping like a stone as less nations use the dollar at all.
We have all enjoyed the status of world reserve currency……but it is something that technology has rendered obsolete……and that was our big Achilles heel in the money printing game…….it is coming back to take a big bite out of us in the most important areas, food and decent drinking water.
This hurts people on fixed incomes, it hurts everyone. A cheap food policy in this country has kept people secure and stable, now that is gone, too. Corruption is everywhere, and there are no safeguards for the consumer. All consumer rights are gone……and no matter what happens, nothing is done to make anything any better. Our legal system doesn’t work, if we get robbed, too bad…….nothing works!
Incredible. I am so grateful I am not 20 and starting out in this mess.
http://www.thebureauinvestigates.com/2014/03/17/apple-microsoft-hoard-cash-us-taxpayers-pay-the-bill/
During WWll, the UK with a population of just over 40 million, was totally self sufficient in all foods.
Food was seasonal in those days, few imports. But everyone was kept fed. The black market flourished.
Then came the globalisation of food, and the technology revolution, and what was a post war expenditure on food of 20% of income, gradually diminished to less than 10% today.
However, vast countries like the US where the economies of scale and sheer laziness have resulted in almost half the cost of food production being made up of transport and middle men, a serious re-think is needed with emphasis on local organic food production if the rampant inflation monster is to be stopped from reaping havoc on the poor & middle class who have lived on processed crap for so long.