Stock up. The road ahead is going to get bumpy. That chart shows the U.S. CPI only having a food component of 7.8%, the lowest in the world. Do you believe that? I spend a hell of a lot more than 7.8% of my expenses on food every week. Have you seen the size of an American today? The CPI might be the single most fraudulent number on the planet. To reveal the real figures would destroy the oligarchs facade of stability.
Prepare For A 15% Food Price Surge, Rabobank Warns
Submitted by Tyler Durden on 09/19/2012 12:03 -0400
The record US, and global, summer drought has come and gone but its aftereffects are only now going to be felt, at least according to a new Rabobank report, which asserts that food prices are about to soar by 15% or more following mass slaughter of farm animals which will cripple supply once the current inventory of meat is exhausted. From Sky News: “The worst drought in the US for almost a century, combined with droughts in South America and Russia, have hit the production of crops used in animal feed – such as corn and soybeans – especially hard, the report said. As a result farmers have begun slaughtering more pigs and cattle, temporarily increasing the meat supply – but causing a steep rise in the price of meat in the long-term as production slows. “Farmers producing meat are simply not making enough money at the moment because of the high cost of feed,” Nick Higgins, commodity analyst at Rabobank, told Sky News. “As a result they will reduce their stock – both by slaughtering more animals and by not replacing them.” Somewhat ironically. food prices are now being kept at depressed prices as the “slaughtered” stock clears the market. However once that is gone look for various food-related prices to soar: a process which will likely take place in early 2013, just in time to add to the shock from the Fiscal Cliff, which even assuming a compromise, will detract from the spending capacity of US (and by implication global) consumers.
The “mass liquidation” of animals – which Rabobank said will pick up pace in the beginning of 2013 – will contribute to food prices hitting new highs.
The cost of pork is expected to rise at the fastest pace - by 31% by the end of June next year – while beef costs could increase by up to 8%.
“This record cost of meat and dairy will combine with already-high crop prices to increase food prices by 15% by the middle of next year,” Mr Higgins added.
This would see food prices reach their highest level on record, up by 175% compared to the year 2000.
But the report stressed that the current situation is very different to the crisis of 2008 – in which food stables of the world’s developing economies, like wheat and rice, were severely affected.
The bank’s research follows official figures that showed inflation had slipped back to 2.5% in the UK – closer to the Bank of England’s inflation target of 2%
But Mr Higgins warned that next year’s food price rise could push inflation in the UK higher, and so further away from the Bank’s target.
And who will be the biggest loser once the market starts purchasing pork futures with both hands? Why the same country whose central bank resolutely refuses to join the global easing carnival, precisely for fears of what may happen to pork prices: arguably the most critical component of the Chinese inflation picture. Recall that when it comes to measuring inflation, not everyone is like the US, with a food weighing of just under 8% of CPI: India and China are far more susceptible to food price shocks, as the food component of CPI is 47% and 31%, respectively.
Furthermore, in China pork is by far the most consumed “red meat.” A surge in the price of pork as global inventories plunge could well result in the kind of food protests that toppled various regimes in the MENA region in the spring of 2011. But don’t worry: this too, like everything else, will be fixed by the central planners. After all, the VIX by then will likely be in the low-single digits at current rates of artificial volatility collapse, and all shall be well.
TeresaE says:
An additional 15%, only people that don’t shop or buy strictly processed food without paying attention to package content sizing believe the BS about deflation.
BUT, the untold current story is car & house insurance (I’ll assume life too, but won’t know until next year) has SKYROCKETED year over year. Our house insurance went up 30% this year. I talked to a friend/distant family independent agent and he said the word is that insurance companies have been chasing yield, and losing, so here comes the price increases. Plus, in Michigan, the increased costs of the convoluted, repressive, business tax are filtering through.
Meanwhile, on the planet the oligarchs live on, their statistics show no inflation and blue skies ahead. Amazing how great the numbers look when GDP is increased by the increase in insurance, food & utilities, and the inflation figures conveniently leave out such nonsense as “non-important.”
Too bad the small biz people can’t get a hit off the hopium pipe and a mainline of the free funny money. Then, maybe, unemployment would actually go down instead of being statistically manipulated down.
I can dream. And these men are not as delusional as they are amoral, thieving, murdering, and major pieces of human excrement.
Yet they hold our futures in their greedy and stupid little hands.
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19th September 2012 at 3:17 pm
Colma Rising says:
Oh god…. lol’n my lolz make my ballz!!!
The “Deliverance” picture is so fucking wrong and hilarious. Oh shit. My coworker asked what the fuck I was laughing at so I showed him and said “Whur You goin city boy?”….. He didn’t think it as funny but that’s what you get for not making a meme, Admin.
What was that article saying? Food prices going up?
Suck ass. Too many fatasses will have to limit their fatass portions.
How’s coffee doing? The coffeee shack raised the price 7% this semester…. motherfuckers who do we need to bomb?
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19th September 2012 at 3:33 pm
Administrator says:
Colma
It’s time.
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19th September 2012 at 3:37 pm
Administrator says:
Cost for this burger next year: $875.59
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19th September 2012 at 3:40 pm
Administrator says:
Dear Obese America: Uncle Sam Wants To Regulate What You Eat
Submitted by Tyler Durden on 09/19/2012 13:49 -0400
It seems that the recent foray of Mayor Bloomberg into determining what one may and may not consume based on calorie count, was just the appetizer, so to say. As some may recall, back in March we wrote that based on OECD predictions, up to 75% of the US nation will be overweight or obese. Now, none other than Uncle Sam has gotten wind that his population will soon be primarily made up of fat people. So he has a solution, which is in the vein of all other solutions where Uncle Sam is concerned: regulate, regulate, regulate.
From Bloomberg: “Governments should regulate food companies on unhealthy ingredients in products that contribute to obesity, an epidemic that now affects 1-in-3 Americans and costs the U.S. $150 billion a year, said New York City Health Commissioner Thomas Farley. More than education and voluntary action by companies is needed, Farley said. New York’s limit on sugary soft drink sales is one example of the steps governments must take to stop the rise of obesity, he said today at a press conference on the topic held by the Journal of the American Medical Association.” Punchline #1: “Publicly traded food companies, charged with making a profit for their shareholders, can’t be relied upon to make their foods more nutritious, Farley said.” In other words, Uncle Sam knows what is best for you, always. Punchline #2: “There is a clear role for government in the solution,” Farley said. “Obesity rates have been rising considerably for the last 30 to 40 years. If we don’t do anything, I think it is a fair prediction that they will continue to rise.” Surely, when it comes to things that are soaring which will not stop soaring unless something is done, the US government knows best: after all just look at Exhibit A: the US Debt, which sadly the US government has been “regulating” pretty much since the beginning.
More:
About 60 percent of adults in New York City are overweight or obese and 1-in-8 have diabetes, which is often caused by obesity, Farley said. A person with a body mass index of at least 30 is considered obese, according to the National Institutes of Health. The BMI is calculated using height and weight. A man who is 6 feet tall and weighed more than 220 pounds would be considered obese using the formula.
The size of a soda has increased from about 6.5 ounces in the 1960s to 20 ounces today, according to Farley. He said surveys have found that Americans eat 200 to 600 more calories a day than they did in the 1970s and that sugary drinks are playing a role in that added calorie consumption.
The city’s soda size rule is not government restriction on choice, adding that people can consume as much as they want at restaurants as long as it isn’t with a cup larger than 16 ounces, Farley said.
And just in case there was any confusion where this is going…
“While the idea of government regulation on portion size is new, we think it makes all the sense in the world,” Farley said.
Our advice: eat up America. Very soon you will need permission from your friendly local government constable to not only chew, but swallow.
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19th September 2012 at 3:42 pm
IndenturedServant says:
I recently purchased a whole Angus steer who went to Angus Steer Heaven last Friday. My wife and I are keeping half and I sold the other half to friends for cost. He will be dry aged for 10 days then butchered to our specs. I have a free range pig roaming a forest north of here that will enter swine heaven the last week of October and then take up residence in my freezer alongside his bovine friend. A friend just bagged a big moose last Saturday which he will be sharing. He’ll also be after a bear this weekend so I’m pretty much set for meat over the next couple of years.
I_S
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19th September 2012 at 3:43 pm
AWD says:
I don’t see what the problem is, especially in New York
It’s the same old story. Those who fail to take responsibility for themselves and their health delegate that responsibility to someone else.
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19th September 2012 at 3:50 pm
AWD says:
I guess they’re gonna have to double SNAP benefits with food prices going to high.
Are cokes, doritos, twinkies, and pork rinds gonna be more expensive?
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19th September 2012 at 3:55 pm
AWD says:
Dear lord, what is going to happen to fast food prices?
When McShit’s has to raises prices, and Whoppers cost $8, it’s going to be anarchy!
And what about KFC? They’re already losing money in Arab countries…
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19th September 2012 at 4:09 pm
Colma Rising says:
If I stop going to the coffee shack, how will I show off my thumb-ring to the young ladies?
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19th September 2012 at 4:32 pm
Administrator says:
Six million will pay health law penalty: study
Congressional Budget Office says more to be taxed than expected
By Russ Britt, MarketWatch
LOS ANGELES (MarketWatch) — Six million Americans, or roughly 2% of the current population, will end up paying a penalty for failing to have health insurance when the full effect of the 2010 health-care overhaul law is felt in 2016, according to the Congressional Budget Office.
The CBO on Wednesday said the penalty of $695 or 2.5% of household income under the law formally known as the Affordable Care Act increases the number of those facing the penalty than originally was projected in April 2010, shortly after the law’s passage. The law contains an individual mandate requiring all Americans to have insurance or pay a penalty.
Now, 2 million more people will be penalized and pay an additional $3 billion in fines than originally projected, according to the report, conducted by the CBO along with the Joint Committee on Taxation.
“Most of the increase — about 85% — in the number of people who are expected to pay the penalty tax stems from changes in CBO and JCT’s baseline projections since April 2010, including the effects of legislation enacted since that time, changes in the economic outlook (primarily a higher unemployment rate and lower wages and salaries), and other technical updates,” the report says.
The CBO goes on to say that roughly 15% of the increase is expected because of the recent Supreme Court decision that upholds the law but tells states they won’t be required to beef up their Medicaid programs.
While the number of those facing the penalty has risen, the slice of the population facing the tax is roughly one-fifth the 30 million non-elderly U.S. residents that will remain uninsured.
Illegal immigrants and those exempted from the penalty due to low incomes will comprise 18 million to 19 million of that total group of uninsured. About half the remaining 11 million to 12 million are expected to receive exemptions due to hardship or religious beliefs, the CBO says.
The tax will raise roughly $7 billion for 2016 and average $8 billion a year for the following six years.
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19th September 2012 at 4:58 pm
David says:
“When McShit’s has to raises prices, and Whoppers cost $8, it’s going to be anarchy!”
Oh no, never anarchy! The government will simply give all the SNAP card users a cost of living increase. Now the man on the street will be paying eight bucks and he will cuss and fuss. But those SNAP users will smile and smack on those whoppers as they wheel by the drive-thru in their Cadillacs.
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19th September 2012 at 5:10 pm
TeresaE says:
David, read When Money Dies, then get back to us.
The government, even in this instant debit society, will not be able to enact the laws and change the programs fast enough to keep riots from happening if money goes to hell.
One real difference though, today’s FSA society (see the union demonstrations for the best of type situations), is light years behind Weimer society in decorum and self-sufficiency. Weimer (and Argentina and Zimbabwe) got nasty, but I fully expect the average American is inherently more barbaric – and feels immensely more entitled.
Go forth and spend time with our nation’s FSA, then get back to me about what is going to happen if it takes 30 days – or a year – to enact that increase in food stamps.
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19th September 2012 at 5:18 pm
Anonymous says:
I wonder how long it will be before the government makes certain drugs, like Xanax, mandatory.
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19th September 2012 at 5:23 pm
Anonymous says:
Well, Taco Bell tacos wont go up in price. Why? Because they cant legally call their taco filling meat because it contains less than 30% meat. They will just add more fillers.
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19th September 2012 at 5:25 pm
Stucky says:
The homo-phobia comments and pics on this site are truly pathetic.
Where is your compassion? A lot of regulars here are homos, and I think we should respect them, and cease and desist from further mockery.
Like AWD, for instance …. flash, too …. and, of course, Colma …. all Homo Big Dogs, that deserve better.
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19th September 2012 at 6:10 pm
AWD says:
Stuck,
I’m distributing these fine buttons to TBP members, I’ll shoot you one through the server….
Racists, homophobes, haters, scoundrels, yea, shit throwing monkeys.
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19th September 2012 at 6:18 pm
platoplubius says:
@ TeresaE
That was FANtastic! What a concise yet far reaching TIRADE!!! THUMBS WAY UP!!
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19th September 2012 at 6:31 pm
Stucky says:
Taco Bell tacos remind me of Camel-toe. It really does.
Is that a taco down there, or what?
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19th September 2012 at 6:36 pm
Buckhed says:
Hell deer season is in…Bambi..it’s what’s for dinner !
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19th September 2012 at 8:23 pm
AWD says:
Stuck,
Not just camel-toe, that’s 1% camel-toe (Paris Hilton), and camel-toe you or I will never get to investigate or snack on.
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19th September 2012 at 8:26 pm
Fool on The Hill says:
Hey Stucky. She probably can’t cook, wont clean and want alimony when she wants out of her “Till death do us part .” promise.
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19th September 2012 at 8:36 pm
jimski says:
2 weeks ago we harvested all the frogs from our pond. We got 74 x 2 legs and had us a real nice party. Garlic butter grilled went over well but my favorite was fried. I fed 10 people for 20 bucks and had more money in sauce than anything. Now if i could just grow a french fry tree………..
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19th September 2012 at 8:38 pm
Maddie's Mom says:
jimski,
Last time I “harvested” frogs was when my 2 brothers and I were kids.
I was in charge of the lights (the clean, girlie job
)
Our mom fried them up for the family.
Cheap eats! Yum! ( I think…lol)
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19th September 2012 at 11:05 pm
Buddabull says:
It is about time food went up. Everything else is . My Dad and Uncle are both in there eighties and I always tell them that they lived in the golden age where food, energy, housing, and taxes were cheap. This is no more. I was at a sale yesterday and over heard a vendor tell a customer that his sales are off because people just don’t have the money to spend. i thought this was funny because he was dealing with ammo and guns. He also stated that he is getting over run with used guns coming through the door. I looked at his ammo prices and they were a little on the high side but not unreasonable. My local firearms dealer is also swamped with used guns. Granted a lot of people need cash and this is a quick way to make some, but they are taking a beating on price. Most of the guns coming in are just the extra ones they don’t need.
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19th September 2012 at 11:06 pm
efarmer says:
That’s a little disheartening Buddabull, who is going to help fight off the troops when the feds have them train their sights on us?
EF
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19th September 2012 at 7:33 am
TeresaE says:
@Buddabull, “extra” guns? WTF?
No kidding, and good to know – what state are you in?
Cause I’m in the market for a few more.
Any knowledge of the reporting requirements a gun dealer has with used/old firearms?
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19th September 2012 at 9:07 am
Buddabull says:
Teresa E
I am in PA, Most of the extra guns are from the old timers, shotguns, rifles, pistols, no AR-15 though. I am going to look for a 20 gauge for my dad, my dealer said he has 6 there in the 300 dollar range. Just pick up a Remington 700 in 7 mag for 350. We have instant check here when you buy from a dealer. I am afraid to go to his shop for I am always walking out with something or put one on lay away.
The more you talk to people you find out there are a whole lot more of us out there than most people realize. Just today I struck up a conversation with a gentleman who was telling me the evils of the federal reserve. On my next stop a delivery driver was telling me how he plans on going off of the grid. All of the cops and prison guards I talk to at the gym are locked and loaded also. They know shit is going to happen but don’t know when.
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19th September 2012 at 11:09 pm
AKAnon says:
TE-As I understand, an FFL dealer has to go through the same paper trail/NICS for used guns (unless old enough to qualify as antique) as a new one in all 50 states. That said, new guns have a clearer trail back to the manufacturer, but that means little to me. Private party sales depend on your jurisdiction-in AK, they are straight out cash & carry, even at gun shows. Life is still good up here.
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19th September 2012 at 12:53 am
SAH says:
@Admin Re: Fat People in NYC and the subversive use of language…
I guess having been a serious student of several languages, I pay very close attention to it. When words are subverted and used to mean what they don’t mean, it jumps out at me. The NYC Health Commisioner was quoted as saying: “Governments should regulate food companies on unhealthy ingredients in products that contribute to obesity, an ***epidemic*** that now affects 1-in-3 Americans and costs the U.S. $150 billion a year”
ep·i·dem·ic
/ˌepiˈdemik/
Noun
A widespread occurrence of an infectious disease in a community at a particular time: “a flu epidemic”.
Synonyms
noun. pestilence – plague
So, as a society we’ve already agreed that actual ***epidemics*** such as TB, Spainish Influenza, Bubonic Plague, Malaria etc warrant government action — such as quarantine of infected persons, mandatory vaccination, extermination of disease vector species, etc. Since real ***epidemics*** are spread without individuals having much choice in it, we’ve agreed as a society to give up some of our freedom to prevent an actual ***epidemic*** from wiping out vast swaths of the population at random — by empowering government to take concerted action that would be difficult for individuals to undertake (such as eradication of Smallpox, for instance).
By calling the CHOICE of obesity (yes, fat people you’ve chosen to shovel every bite into your own mouths, and could choose to stop doing so at any time and exercise – just as health weight individuals CHOOSE to not be fat) an obesity EPIDEMIC which by definition it is not at all, it’s mandating government to take action and take away rights. We’ve already agreed that the government can do that during an epidemic, right? So if obesity is an epidemic, it’s assumed government needs to act.
I believe that TPTB regularly subvert as a subtle manipulation tool which seeps into the subconscious of most people unnoticed, but influences their willingness to accept wrong ideas. Fucking jumps out at me and pisses me off though. The next thing will be to label political dissent as an “epidemic of mental illness”, and mandate forced medication and quarantine of dissenters.
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19th September 2012 at 2:02 am