Rotten to the core (Food and energy inflation cannot be ignored)

Market Watch ^ | 2/08/2011 | IRWIN KELLNER

[ratsreek]

obastard is trying to drive the American people ito the streets so he can declare martial law.

[meyer]

obastard is trying to drive the American people ito the streets so he can declare martial law.

He doesn't have adequate following to initiate or enforce martial law. People would die, mostly leftists.

[Toddsterpatriot]

The legitimate way to deal with the “volatility” of food and energy prices is not to compute a pseudo-price-inflation-rate by excluding them, but to report a running average of the inflation rate including them.

They report that every month, it's called CPI-U.

[WorldviewDad]

My cost structure is much lower...but then I am only running a small hobby farm for only my families personal consumption...

One milk cow that has raised her own heifer calf and provided milk for our steer calf...as well as milk for the family.

Six sheep that we over winter that provides us with eight to ten lambs in spring that are either sold or put in the freezer at the end of fall.

Six ducks that we over winter that go out on the pond in spring and provide us with 20 to 30 ducklings that eat off of the pond all summer until they are put into the freezer in fall.

Keeping it small has actually kept our costs down. But I do understand about the broken bones and throwing out the back...:)

[redpoll]

This is the time of year I order seeds for the garden this summer.

The cost of those seeds has doubled.

Just another indication of inflation.

[cherry]

"Then there are the perma-doomers who want to believe that the "real" rate of inflation is 10% and the "real" unemployment rate is 25%. To them, the new depression is just around the corner."

of course you're right...silly rabble thinking that near 10% unemployment, not including the underemployed, and 1 million houses in America sitting empty is actually a good thing, right...a really good thing....

pardon us our fears.....we should be jumping for joy..../sarcasm/

[Mase]

Uh, I said the doomers think we have 10% inflation and 25% unemployment. The 10-year bond is yielding 3.64% yet some people think inflation is 10%. The rate of unemployment during the great depression was 25%. Let me know what street corner you're selling apples on and I'll try and help you out on my way to the soup kitchen.

No amount of facts will mollify these kinds of people. To them, life is a crap sandwich. I have no interest in arguing with fixed mentalities. I will, however, point out the fact that there are a number of people on the FR who think this way. It's sad, really.

[Ruy Dias de Bivar]

***The CPI says that the fifteen cent candy bar should be just 39 cents today, or a premium bar for a quarter would be 65 cents today.***

I remember when a Hershey bar was 5 cents. Half as much as a bottle of soda pop.

Here is a list of groceries from 1963.

Flour, 10 lb, 99 cents.
Bacon 2 lb 79 cents.
Catsup 14 oz 15 cents.
Potatoes 25 lb 59 cents
Tomatoes 15 cents a lb.
Hams 39 cents a lb.

In 1888 Levis cost $1.80 a pair.

73 years later...
In 1961 Levis cost $2.60 a pair.

50 years later...
In 2011, Levis (now made overseas) cost about $35.00 a pair. Using the earlier inflation rate (1888-1961) they should not cost over $6.00 a pair today.

Inflation really went into overdrive since 1963, when the Democratic Johnson administration took over.

[ratsreek]

He’s got gun laws and he’s got cops - local agencies firing on locals and contacting ATF for assistance. He’d declare martial law but only use troops to stand around as a show that his action was legit. But the real malice would come from troops trained to fire on their own people - unlike the military - such as local PD, FBI, ATF, U.S. Marshalls, and whomever else such as DEA, Border Patrol, Port Authority, etc..