Remember, the Fed wants 2% ‘inflation’- I believe the answer to your question would have been ‘deflation’. The lenders would have been paid back in devalued dollars from the debtor, which the Fed would never allow.
And to think, not one politician voted for this tax.
The highest jumps are bacon, steaks/burgers and pasta! Those friggin, soy-eatin commie bastards! I hope they all choke on their quinoa and rice cakes……….
Boat Guy
January 28, 2018 8:24 am
The cost of living did not go up my government said so oh and WMD’s were in Iraq , artificial sweeteners are safe , some Arab surviving on dialysis in a cave was responsible for the 9/11 attack and the Kardashian’s marry for love !
I never believe anything my government tells me , NOTHING !
Administrator
Author
January 28, 2018 8:26 am
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overthecliff
January 28, 2018 9:43 am
You can always trust a snake to be a snake.
wdg
January 28, 2018 10:39 am
In Canada, the official inflation rate for 2017 is 1.6% according to Junk Stats Canada. To achieve that number, you would have to stop heating, insuring or even buying or renting your home, change your eating habits by substituting dog food for ground beef, don’t go out to eat even at MacDonald’s and stop driving your car and start walking or hitchhiking a ride. Gas over the past decade went up about 10% per year. The inflation data is not much better in the US thanks to the Bureau of Labor Statistics, better know as BS or bulls**t. It is a sad world we live in where there is nothing but lies as far as the eye can see when it comes to government. If you are interested in the real “basket-of-goods” inflation rate, it is 8-10% and can be found here: http://www.shadowstats.com/alternate_data/inflation-charts
RHS Jr
January 28, 2018 12:17 pm
Does cold and crop failures mean anything?
Mike
January 28, 2018 12:58 pm
I am an old fart so I remember working for minimum wage at $1.35 and gas cost $.25-.30 so you could get 5 gallons of gas on an hour’s minimum wage. Now minimum wage is around $7.50 and here a gallon of gas is $2.20-2.40 average, that’s 3-3 1/2 gallons for your hour’s minimum wage. I try to explain to young people about inflation and they just can’t see it. What is really hard to put across is that the prices haven’t went up, the purchasing power of the dollar has went down.
Swimming with Bow-legged Women
January 28, 2018 1:10 pm
Lap dances have gone up from $20 to $40 locally in the last decade. (so i am told ; ) I worked for $1.10 an hour humping furniture and freight; also for flipping burgers when they were 15 cents and a 12 ounce drink was 10 cents.
hardscrabble farmer
January 28, 2018 3:32 pm
I can’t comment on all of the prices posted, but I know what it takes to produce a pound of ground beef, sirloin, pork chop or a pound of bacon. If those are retail prices then there is some kind of massive hidden subsidies we aren’t being show. Take the hamburger price alone. A fully grown steer will produce approximately 500 lbs of edible product after slaughter-beef/tallow/soup bones etc. Out of that you will be lucky to net 400 pounds of beef alone. If the entire animal were turned into burger that would fetch $1,600 at the grocery store. Let’s start with the cost of slaughter and transportation- minimum $650. Now figure in how much feed it consumed in order to reach a live weight of 1,110 pounds- approximately 2 years @ 25 pounds of hay per day is 9 tons of grass. At bulk rate for baylage (those big 1,000 pound bales tha look like huge marshmallows) the cost would be $1,050. You’re $100 in the hole without taking into account any labor. Or shipping from the slaughterhouse, packaging, markups, refrigeration costs, advertising, labeling, etc.
Somehow the Big Ag guys are getting some kind of kickback in the form of either free feed, labor, tax offsets, or whatever else there may be, but the fact remains that there is simply no way that $4 per pound ground beef is actually produced at cost. Ditto for the other prices for meats listed- especially eggs.
When costs are hidden like that, imagine the ones we can’t see, like what you pay for medical care to offset the poison you’ve been eating with each bite of that impossibly cheap burger (or whatever they’ve added to it).
The Burrito Index: Consumer Prices Have Soared 160% Since 2001
Calculating the real inflation rate by Charles Hugh Smith
In our household, we measure inflation with the “Burrito Index”: How much has the cost of a regular burrito at our favorite taco truck gone up?
Since we keep detailed records of expenses (a necessity if you’re a self-employed free-lance writer), I can track the real-world inflation of the Burrito Index with great accuracy: the cost of a regular burrito from our local taco truck has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016.
That’s a $160% increase since 2001; 15 years in which the official inflation rate reports that what $1 bought in 2001 can supposedly be bought with $1.35 today.
If the Burrito Index had tracked official inflation, the burrito at our truck should cost $3.38—up only 35% from 2001. Compare that to today’s actual cost of $6.50—almost double what it “should cost” according to official inflation calculations.
Since 2001, the real-world burrito index is 4.5 times greater than the official rate of inflation—not a trivial difference.
Well, colluding monopolies have to make money too, right?
I wonder what prices would have done if the Fed and Obama hadn’t pumped $20 trillion of debt into the system.
Remember, the Fed wants 2% ‘inflation’- I believe the answer to your question would have been ‘deflation’. The lenders would have been paid back in devalued dollars from the debtor, which the Fed would never allow.
And to think, not one politician voted for this tax.
What are you referring to as devalued dollars?
The highest jumps are bacon, steaks/burgers and pasta! Those friggin, soy-eatin commie bastards! I hope they all choke on their quinoa and rice cakes……….
The cost of living did not go up my government said so oh and WMD’s were in Iraq , artificial sweeteners are safe , some Arab surviving on dialysis in a cave was responsible for the 9/11 attack and the Kardashian’s marry for love !
I never believe anything my government tells me , NOTHING !
[img
[/img]
You can always trust a snake to be a snake.
In Canada, the official inflation rate for 2017 is 1.6% according to Junk Stats Canada. To achieve that number, you would have to stop heating, insuring or even buying or renting your home, change your eating habits by substituting dog food for ground beef, don’t go out to eat even at MacDonald’s and stop driving your car and start walking or hitchhiking a ride. Gas over the past decade went up about 10% per year. The inflation data is not much better in the US thanks to the Bureau of Labor Statistics, better know as BS or bulls**t. It is a sad world we live in where there is nothing but lies as far as the eye can see when it comes to government. If you are interested in the real “basket-of-goods” inflation rate, it is 8-10% and can be found here: http://www.shadowstats.com/alternate_data/inflation-charts
Does cold and crop failures mean anything?
I am an old fart so I remember working for minimum wage at $1.35 and gas cost $.25-.30 so you could get 5 gallons of gas on an hour’s minimum wage. Now minimum wage is around $7.50 and here a gallon of gas is $2.20-2.40 average, that’s 3-3 1/2 gallons for your hour’s minimum wage. I try to explain to young people about inflation and they just can’t see it. What is really hard to put across is that the prices haven’t went up, the purchasing power of the dollar has went down.
Lap dances have gone up from $20 to $40 locally in the last decade. (so i am told ; ) I worked for $1.10 an hour humping furniture and freight; also for flipping burgers when they were 15 cents and a 12 ounce drink was 10 cents.
I can’t comment on all of the prices posted, but I know what it takes to produce a pound of ground beef, sirloin, pork chop or a pound of bacon. If those are retail prices then there is some kind of massive hidden subsidies we aren’t being show. Take the hamburger price alone. A fully grown steer will produce approximately 500 lbs of edible product after slaughter-beef/tallow/soup bones etc. Out of that you will be lucky to net 400 pounds of beef alone. If the entire animal were turned into burger that would fetch $1,600 at the grocery store. Let’s start with the cost of slaughter and transportation- minimum $650. Now figure in how much feed it consumed in order to reach a live weight of 1,110 pounds- approximately 2 years @ 25 pounds of hay per day is 9 tons of grass. At bulk rate for baylage (those big 1,000 pound bales tha look like huge marshmallows) the cost would be $1,050. You’re $100 in the hole without taking into account any labor. Or shipping from the slaughterhouse, packaging, markups, refrigeration costs, advertising, labeling, etc.
Somehow the Big Ag guys are getting some kind of kickback in the form of either free feed, labor, tax offsets, or whatever else there may be, but the fact remains that there is simply no way that $4 per pound ground beef is actually produced at cost. Ditto for the other prices for meats listed- especially eggs.
When costs are hidden like that, imagine the ones we can’t see, like what you pay for medical care to offset the poison you’ve been eating with each bite of that impossibly cheap burger (or whatever they’ve added to it).
It boggles my mind how grocery stores can sell so much cheaper than us; how can I have the awesome overhead costs instead of them?
https://www.peakprosperity.com/blog/99392/burrito-index-consumer-prices-soared-160-2001
The Burrito Index: Consumer Prices Have Soared 160% Since 2001
Calculating the real inflation rate by Charles Hugh Smith
In our household, we measure inflation with the “Burrito Index”: How much has the cost of a regular burrito at our favorite taco truck gone up?
Since we keep detailed records of expenses (a necessity if you’re a self-employed free-lance writer), I can track the real-world inflation of the Burrito Index with great accuracy: the cost of a regular burrito from our local taco truck has gone up from $2.50 in 2001 to $5 in 2010 to $6.50 in 2016.
That’s a $160% increase since 2001; 15 years in which the official inflation rate reports that what $1 bought in 2001 can supposedly be bought with $1.35 today.
If the Burrito Index had tracked official inflation, the burrito at our truck should cost $3.38—up only 35% from 2001. Compare that to today’s actual cost of $6.50—almost double what it “should cost” according to official inflation calculations.
Since 2001, the real-world burrito index is 4.5 times greater than the official rate of inflation—not a trivial difference.
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?zoom=1.440000057220459&resize=486%2C484[/img]