Posted on 02/16/2021 6:01:16 AM PST by bert
What will be the results of a Pelosi/Biden government?
Many think there will be inflation. Milton Friedman taught us that “Inflation is always and everywhere a monetary phenomenon, in the sense that it cannot occur without a more rapid increase in the quantity of money than in output.” The $2Trillion Covid relief plus the !5% minimum wage plus the forgiveness of college loans all pump money into the economy.
Those actions are the very definition of monetary phenomena.
The Bureau of Economic Analysis keeps us informed on the inflation rate but fails in one respect. The inflation information provided leaves out food. So, in the era of Pelosi/Biden induced inflation, bert has developed a basket of 20 common food products and will track prices and compute the inflation rate on the basket total and each individual item at a one month interval.
The reason given for excluding food in the BEA inflation figure is because there are so many variables that effect prices that monetary inflation gets lost in the shuffle. So, there will be no attempt to correct for other variables.
One we know that is already happening is China. China is in terrible food shape. Crop failure, massive flooding, swine disease and poor management of stock piles have forced China to import phenomenally large quantities of soy beans and corn. Brazil is sold out of soy beans. American farmers will pick up all he slack. So, there will be a large China induced food price inflation.
Being bert and being conservative, I choose to ignore China and blame all the food price increases on Pelosi/Biden
The first monthly food inflation presentation is posted below. There is no inflation noted for February
Will it happen? As President Trump was fond of saying……..We’ll see
Really really frustrating. Shows the corporations don’t give a crap about people.
I like it. Thanks Bert
I bought 18 count XL eggs on Sunday at Publix - they were $4.09
December to now has gone up...
Anecdote:
Last week I went to lowes to buy furring strip. I bought 72” x 1” x 2”, very nice strip. It has a sticker “Made in Finland”
I passed up the 12” a 1” pine shelving........ outrageous
Statists love inflation. It reduces the value of savings to essentially zero, making hard working individuals destitute and dependent on government. It automatically raises taxes through “bracket creep.” The economic indicator numbers go up, allowing them to claim that the economy is doing fine, but it isn’t, since the dollars are worth less than before.
But above all, they aren’t bothered by inflation because they protect their salaries and pensions with their generous cost of living raises.
MDF?
One of the worst things about food price inflation is food package shrinkage.
Some of those shrinked packages are so small they fall through the slats of the shopping carts.
I can remember when coffee, for example, came in standard 1 and 3 pound containers. Now, it is down to 9 oz and 24 oz containers. A TP roll typically had 400 sheets. Now you have to buy the mega-triple roll to get that.
We used to do all our grocery shopping at Walmart, but they are now high.
Here's what I got:
An Alaska mill: A chain saw and a frame to hold it. If you already have a fairly decent chain saw, the mill is around $100.
In the end, you'll only have to pay for the gas and your own labor.
I have a decent Husqvarna Rancher with a 24" bar I use just to cut boards as needed.
I can cut logs up to about to 21" wide.
Anyone can cherry pick items to prove anything they want.
When the people buy the same products and the prices continue to increased, that is inflation.
“I bought 18 count XL eggs on Sunday at Publix - they were $4.09”
Those must be cage free, open range, grain fed organic chickens.
Great Value Extra Large White Eggs, 18 Count
1 dollar and 95 cents $1.95
10.8/ea
I saw a fatso in front of me and she $2,800 on her ebt card! She was buying a bunch of rib eye steaks.
Ok, that is funny. I call Home Depot wood “banana wood”.
I picked the items as ordinary and what lots of people buy. They were not so much cherry picked as considered to be frequent purchases.
I don’t see the causes noted presently having an effect inthe first month. I am not looking for the best price but rather a baseline on 20 common grocery items.
It is my intention to post the list with prices recorded for the 20 items on the fifteenth of every month.
I GOTTA get that! I’ve been crying over the stuff I’ve been cutting up incredible lumber for firewood.
I cut up a branch that has been sitting on the ground for over five years and it was pure black walnut chocolate color inside. It was spectacular, and I have no way to cut it except for logs. I have 25 acres of woods with a lot of walnut, hickory, maple and oak not to mention a ton of cedar. I have a very good Stihl chainsaw.
I’m gonna google alaska mill.
Thanks for reminding me... I left that one out. Have you noticed that the width of the TP has shrunk slightly since the initial TP crisis of last spring? And at my local store, the cheapest, smallest rolls all say "Mega." (Not MAGA). "Mega" used to imply large, rather than small, LOL.
I just saw a couple of videos on this. I can literally create hardwood lumber from the trees laying on the ground on my property. When I bought it 10 years ago, a logger had taken all the really big stuff off first. There is LOTS of hardwood just laying on the ground. I’m talking 40 0r 50 chords of “firewood”. And a lot of it is hardwood just waiting to get harvested.
And this doesn’t even count the stuff standing.
Maybe I need to retire NOW. ;)
That’s an awesome picture.
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