I wonder if Janet Yellen’s chef has noticed the increase in meat prices. I wonder if Janet Yellen’s chauffeur has noticed the increase in gas prices. I wonder if the Federal Reserve HR department has noticed the increase in Janet Yellen’s health insurance premiums. It must cost a bundle to control that bug eye deer in headlight problem. The BLS seems to have run out of adjustments to misinform and mislead the American sheeple about the cost of stuff they actually need to live an every day existence. The Ivy League trained mouthpieces for the establishment can blather on about money supply and velocity of money and whatever other bullshit academic crapola they want to spew out of their lying mouths, but real people in the real world go to real grocery stores and buy real groceries every damn week.
The BLS calculation of food inflation is thus: If the price of beef goes up 10%, you switch to pork and the price increase didn’t happen. If the price of pork goes up 10%, you switch to chicken and the price increase didn’t happen. If the price of chicken goes up by 10%, you switch to gizzards, assholes and beaks. When the price of gizzards, assholes and beaks goes up 10%, you finally switch to cat food and puppy chow. See – no inflation.
Senior citizens have been thrown under the bus by Bernanke and Yellen, as their only concern since 2009 has been to save their Wall Street bank owners through QE. Seniors who might have been living off their meager SS distribution and $5,000 to $10,000 of interest income on their retirement money now get $200 per year of interest on their retirement money. Meanwhile, the price of gasoline has tripled since 2009 and the price of food, utilities and insurance has skyrocketed. Cat food is whats for dinner tonight for senior citizens across the land.
And just a reminder: the last time food prices spiked like this a Tunisian set himself on fire and the Arab Spring was unleashed. Food represents 80% of third world poor budgets.
Meat Prices Surge Most In 11 Years
Submitted by Tyler Durden on 05/15/2014 12:04 -0400
Hardly surprising given the surge in beef and pork that we have been noting, but according to the latest inflation data from the BLS, meat prices spike by almost 3% in April – the most since November 2003 (this is also the 2nd biggest price spike in 34 years!) As we noted previously, this soaring food price inflation is not about to stop anytime soon…
And just the monthly change: No hedonic meat adjustments here.
The Fed ‘meme’ that low-flation is as dangerous as high-flation (thus providing them an excuse to keep priming the pump) is about to run into a problem as the hedonic manipulation of government-provided inflation data runs into the ugly reality of things that we need actually soaring in price…