Posted on 04/19/2021 7:10:47 AM PDT 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.
The current news includes articles pointing to food price inflation all over the world. Some places are more alarming than others.
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.
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. The Market Basket priced increased by 1.9%
Will it happen? As President Trump was fond of saying……..We’ll see
Food quality has gone down significantly for most food products.
The only quality increase is in meat.
In my youth, all spices I could buy were of good quality.
There's a joke in there somewhere.
The few items on your list I purchase are bought when on sale. I buy hamburger for 1.99/lb in 10 lb. rolls, Folgers or Maxwell House: 25.6 oz for 5.99, bacon for 2.99, tomato soup: I make my own low carb soup, chicken breast at 1.77/lb at Sprouts, yet, I haven’t seen that low a price there for some time now. On the rare occasion when I buy soda, I wait when there’s a sale at 4 12 packs for 12.00, or less. I’m cheap - I also purchase a lot of generic or store brands.
I few years ago I could buy 18 12oz. Pabst cans for $9 at Wal-Mart.
Now Wal-Mart offers 24 12oz. Pabst cans for $16.99.
I now tend to drink 32 oz. Millers at $1.50 each.
I quit drinking 30 years ago but I remember box wine costing 4.99 for 5 liters. Now a days, it’s too expensive to be a cheap wino.
Ten years ago spaghetti sauce generally was of good quality.
Now it is red stuff in my opinion.
Some of those prices are lower than what I have seen in the stores.
Good luck finding a loaf of bread for 1.99 and same with eggs and milk for 1.99...only the store brand offers this price.
“too expensive to be a cheap wino”
One can still get good cheap Merlot, but I get tired of it.
I’ve not had much luck getting cheap Cabernet Sauvignon for several years.
So beer it is.
“Campbell’s Pork and Beans Can $0.69”
A small can was 46 cents at my local Wal-Mart recently.
I purchased by the box - I went for quantity, not quality!!
For the record, the Big Mac was chosen because it represents all the food groups.
A Freeper advised that the McDonalds Quarter Pounder might have been the better example and I won’t disagree.
However I have the Big Mac base line in January and will have to stick with it
I suspect that you have cited differences, variables, that make a government food inflation number to be problematic. I was looking for a trend to satisfy my own curiosity.
For the record, the Big Mac was chosen because it represents all the food groups.
A Freeper advised that the McDonalds Quarter Pounder might have been the better example and I won’t disagree.
However I have the Big Mac base line in January and will have to stick with it
I suspect that you have cited differences, variables, that make a government food inflation number to be problematic. I was looking for a trend to satisfy my own curiosity.
Ping
Do you know what they call a Quarter Pounder in Paris?
“Hot Dogs Oscar Mayer 10 count $2.99”
Oscar Meyer Wieners are $2.24 at my local Wal-Mart.
I purchase my eggs at the Walmart Market. 60 eggs for 4.19 or something like that. My crappy supermarket closest to my home has them for 2.99 for a dozen.
“Right after I got here I ordered some spaghetti with marinara sauce and I got egg noodles and ketchup.”
That’s an excellent price!!
I live in Florida.
All the tomatoes I have bought recently have come from Mexico.
Until this year, my winter tomatoes came from Florida.
a 112 grammer?
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