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U.S. FOOD INFLATION RUNNING AT 22%
Breitbart Big Government ^ | 26 May 2014 | by CHRISS W. STREET

Posted on 05/26/2014 12:52:51 PM PDT by kingattax

After five years of the federal government telling the public that despite a $3.5 trillion increase in monetary expansion, the inflation rate is below +2%, the Department of Agriculture (DOA) just warned the American public that the consumer price index for food is up by 10% this year.

The DOA tried to blame food inflation on the drought conditions in California, but last year’s drought was worse and food prices fell by -6%. The real problem is Federal Reserve monetary stimulus is stimulating inflation. I reported in "Food Price Inflation Scares the Fed” two months ago that commodity food costs were exploding on the upside. Given the lag in commodity costs impacting prices on grocery store shelves, annual U.S. food inflation is now running at +22% and rising.

The DOA tried to blame food inflation on this year’s drought conditions in California that they stated may have “large and lasting effects on U.S. fruit, vegetable, dairy and egg prices.” It is true that California droughts are always agricultural issues, since 80% of the state’s freshwater supply is used by farms and ranches.

This has resulted in surface water deliveries to farms and ranches from reservoirs and the California Aqueduct being cut by 32.5%, or 6 million acre-feet.

(Excerpt) Read more at breitbart.com ...


TOPICS: Business/Economy; Editorial; Government; News/Current Events
KEYWORDS: food; foodprices; inflation
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To: tbw2

Here’s a link to a .pdf detailing cost of production for corn:

http://www.extension.iastate.edu/agdm/crops/html/a1-20.html

The short version is it costs $4.25-5.10 to produce a bushel of corn.

Corn is selling right now for $4.20-4.50 per bushel.

Maybe there would be plenty of corn for free without the ethanol mandate!


81 posted on 05/26/2014 5:03:37 PM PDT by jjotto ("Ya could look it up!")
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To: kingattax
Gubbamint is breaking the backs of the middle class. Unbelievable what's been going on over the last decade.

This lil party over on wall street is about to get last call. When it does, hundreds of millions to billions in private wealth will evaporate from the accounts of the middle class workin folks.

Interest rates held down to near zero for years now is pummeling elderly folks investments for retirement.

This has been the most mismanaged financial time I have ever witnessed. The majority of Congress should resign in shame as should that damn bozo up in the white house.

82 posted on 05/26/2014 5:04:13 PM PDT by servantboy777
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To: 1rudeboy

You already do look like an idiot. That was satire, both the original, and mine.


83 posted on 05/26/2014 5:11:53 PM PDT by Balding_Eagle (Want to keep your doctor? Remove your Democrat Senator.)
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To: kingattax
Well, dammit, whiners, if you live in the California Central Valley, next time you feel hunger pains, or fight the dust clouds blowing through the Valley, just go admire the Delta Smelt.

I'm sure that Dianne "It's the Law! Deal with it!" Feinstein can send you maps showing where to go and watch the little fishies enjoy "their" water...

84 posted on 05/26/2014 5:16:43 PM PDT by publius911 ( Politicians come and go... but the (union) bureaucracy lives and grows forever.)
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To: dalereed
Who cares, food and housing aren’t a cost of living!

..or gasoline, or medical care, or home heating and cooling; the Valley has long periods annually of 95F+ temperatures...

But I'm sure Michael Jordan $400 athletic shoes are considered in the cost of living increases:

Welfare up 33% the last 7 years. That does not include increases in Medicaid spending.

Earned Social Security? 11%.

85 posted on 05/26/2014 5:53:41 PM PDT by publius911 ( Politicians come and go... but the (union) bureaucracy lives and grows forever.)
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To: Texas Yellow Rose
Numbers from 2009 are not very useful in 2014.
I wonder why that site hasn't updated the numbers?

I suspect, but don't know that Obama's regime is not too eager to supply accurate numbers for ANYTHING!

86 posted on 05/26/2014 6:05:41 PM PDT by publius911 ( Politicians come and go... but the (union) bureaucracy lives and grows forever.)
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To: kingattax
Every time (weekly or so) we go to the grocery store, individual items are now going up 10-20% at a time. Tins of Tuna now look like cat food cans.

Of all the game-playing "packaging to price tricks (less for the same money), for some reason, the below approach ticked me off all out of proportion. This is Charmin brand from COSTCO about a month apart.


87 posted on 05/26/2014 6:06:12 PM PDT by Oatka (This is America. Assimilate or evaporate.)
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To: kingattax

‘Food is up 10% this year.’

Well just add that to the other 30% in the last three years...


88 posted on 05/26/2014 6:27:50 PM PDT by Kackikat
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To: fhayek

Bingo


89 posted on 05/26/2014 6:32:50 PM PDT by BenLurkin (This is not a statement of fact. It is either opinion or satire; or both.)
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To: DuncanWaring

You have to Parboil it first.


90 posted on 05/26/2014 6:35:38 PM PDT by jacob allen
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To: kingattax
Politics! I despise and disrespect politics!

Some old news.

U.S. beef exports to China and Hong Kong have soared this year as rising incomes,...
http://www.usmef.org/news-statistics/press-releases/us-beef-exports-to-china-and-hong-kong-have-soared-this-year-as-rising-inco-13475/

Some new news.

U.S. pork, beef exports increase pace in March
USMEF | Updated: 05/07/2014
Drovers CattleNetwork
http://www.cattlenetwork.com/cattle-news/US-Pork-Beef-Exports-Increase-Pace-in-March-258352491.html
“The pace of U.S. beef and pork exports increased sharply in March, driven by double-digit increases to leading markets Mexico, the China/Hong Kong region and South Korea, according to statistics released by the USDA and compiled by the U.S. Meat Export Federation (USMEF).”

91 posted on 05/26/2014 6:52:44 PM PDT by familyop (We Baby Boomers are croaking in an avalanche of corruption smelled around the planet.)
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To: kingattax

Still wondering when we’ll see rationing put into place. They’ve already done it with healthcare.


92 posted on 05/26/2014 6:59:12 PM PDT by RWB Patriot ("My ability is a value that must be earned and I don't recognize anyone's need as a claim on me.")
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To: Balding_Eagle

Sure it was. You must be new to econ threads.


93 posted on 05/26/2014 7:02:46 PM PDT by 1rudeboy
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To: dalereed
Who cares, food and housing aren’t a cost of living!
Nor is the cost of energy (fuel,electricity,etc).
94 posted on 05/26/2014 7:05:07 PM PDT by Aut Pax Aut Bellum (Where are we going from here? Oh yea, downhill...)
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To: DocJhn
I would like to be corrected on this but I think EBT card users get a discount @ the register.

I don't know about elsewhere, but in Virginia the only "discount" EBT card holders get at the register is they don't pay sales tax on food. However, they do have to pay the sales tax on any discount they get with the use of coupons.

95 posted on 05/26/2014 7:25:18 PM PDT by Gabz (Democrats for Voldemort.)
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To: DuncanWaring
Possum and Taters
96 posted on 05/26/2014 7:46:36 PM PDT by lightman (O Lord, save Thy people and bless Thine inheritance, giving to Thy Church vict'ry o'er Her enemies.)
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To: Signalman

Couple days ago I got a phone call from an organization that was urging people to call the White House and ask them to not allow the EPA to mandate the higher ethanol content in gasoline. They patched me through to the White House. The operator asked me why I was calling and when I told them they switched me to a line at which a recording said they were closed and would not take messages.


97 posted on 05/26/2014 8:43:02 PM PDT by Cold Heart
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To: Cold Heart

And they’re doing this despite a recent Govt, peer reviewed study that claims ethanol use in fuel actually INCREASES CO2 emissions by 7%.

http://news.heartland.org/newspaper-article/2014/04/24/ethanol-corn-residue-increases-carbon-dioxide-emissions


98 posted on 05/26/2014 8:52:09 PM PDT by digger48
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To: F15Eagle

When McD’s first opened in the 50’s they advertised a 15 cent hamburger. And it was. I had many 15 cent hamburgers at McD’s.


99 posted on 05/26/2014 9:06:03 PM PDT by GGpaX4DumpedTea (I am a Tea Party descendant...steeped in the Constitutional Republic given to us by the Founders)
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To: tumblindice

OMG....I can’t stop laughing


100 posted on 05/26/2014 9:10:42 PM PDT by catfish1957 (Face it!!!! The government in DC is full of treasonous bastards)
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