Posted on 05/26/2014 7:12:08 PM PDT by blam
Chriss W. Street
26 May 2014
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.
But “large and lasting effects” on agricultural production in California will be avoided this year by pumping 5 million acre feet of groundwater from underground lakes, known as aquifers. The aquifers are a relic of the era when the Pacific Ocean covered much of the state. California has over 850 million acre feet of water stored in 450 known groundwater aquifers, enough to cover the state to a depth of 8 feet.
(snip)
(Excerpt) Read more at breitbart.com ...
This is the Obama administration wagging the dog to blame this all on climate change.
Welcome to the New World Order. I hope you all like Soylent Green.
attagardener!
We are hitting horrible hyper inflation because we gave mortgages to poor people and then guaranteed them with your money— 1 trillion dollars worth. And then we bailed out fat cat banks and AIG who had gotten stuck with the give away and while we were at it we bailed our government motors and Chrysler so we could pay union pensions. It is over. The damned party is over and now you pay. Bring a rope!
In other news, Big Brother has increased the chocolate ration to 20g per month.
As does mine, and you said in a later comment - all heirloom.
Did he say that really? Very few in any media today are not bought and paid for it seems.
Same. Still trying to talk the family into letting me raise chickens or rabbits.
Not important. Only serfs are concerned about food prices.
Is that why all the Food Stampers are getting fat?
Go with chickens; they are the most efficient producers of meat per pound of feed. They also produce high nitrate fertilizer for your garden (Not that rabbit droppings are bad).
Good thing it’s not counted in “ core inflation” ....
Agreed. Go with chickens. They are more resourceful at scavenging for food. Plus you get regular egg protein till you eat your hens.
Even when we got take out at the local Chinese restaurant in our tiny village, the price went up, plus the amount of food was less.
When you got deadbeats that can eat lobster on my dime via food stamps what did the clowns think would happen? Basic economics. Good luck on that shit when I and the rest of us productive citizens go Galt, FU :)
22%! Wow! I guess it’s a good thing that the government doesn’t consider pesky things that people have to buy in order to live when they calculate the “inflation rate!”
Who are the blind, leftist lemmings going to believe? Obama and his minions, or their own shrinking wallets?
Blame the Koch Brothers!
Mark
How about canned tuna. Prices are WAY up, the quality is WAY down (unless you buy the "premium tuna") and standard cans are down from 6oz to 5oz, BUT the premium cans are often 3 1/2 or 4 ozs.
Mark
Well, thank God that food and energy are not included in the CPI. Otherwise we’d have some serious inflation to worry about.
Retirement is about 5 years away...just what we need, massive inflation to erode our savings.
My favorite local hole-in-the-wall coffee shop has the sweetest Chinese owner. When I’m the first customer in on mornings, she tells me her food inflation stories. She even wants me to order one slice of toast if I don’t plan on eating two! Waste just kills her.
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