Tag: prices

PLEASE, NOT THE BACON

Price of Beef and Bacon Reach All-Time High

Bacon prices can’t keep rising. I love it too much. This development could jump start the revolution. It’s a known fact that bacon price increases initiated the French Revolution and the Russian Revolution. Little known fact – Lenin was baconaholic.

Even with bacon prices at all time time highs, the BLS says it hasn’t increased at all because the average person switched to eating Purina Beggin Strips. It’s the next best thing to real bacon.

Even dogs are upset about the increase in meat prices.

Price of Beef and Bacon Reach All-Time High

July 22, 2014 – 11:14 AM
By Ali Meyer

(CNSNews.com) – The price of beef and bacon hit its all-time high in the United States in June, according to data released Tuesday by the Bureau of Labor Statistics (BLS).In January 1980, when BLS started tracking the price of these commodities, ground chuck cost $1.82 per pound and bacon cost $1.45 per pound. By this June 2014, ground chuck cost $3.91 per pound and bacon cost $6.11 per pound.A decade ago, in June 2004, a pound of ground chuck cost $2.49, which means that the commodity has increased by 57 percent since then. Bacon has increased by 78.7 percent from the $3.42 it cost in June 2004 to the $6.11 it costs now.

In one month, beef increased from $3.85 in May 2014 to $3.91 in June 2014. Bacon increased from $6.05 in May 2014 to $6.11 in June 2014.

Each month, the BLS employs data collectors to visit thousands of retail stores all over the United States to obtain information on the prices of thousands of items to measure changes for the Consumer Price Index (CPI). The CPI is simply the average change over time in prices paid by consumers for a market basket of goods and services.

The BLS found that there was a 0.1 percent change in the food index in June, which tracks foods like meats, poultry, fish, eggs and dairy, as well as many others. “The index for meats, poultry, fish, and eggs increased in June, though its 0.2 percent increase was its smallest since December,” stated BLS.

“The index for food at home has increased 2.4 percent over the past year, with the index for meats, poultry, fish and eggs up 7.5 percent,” BLS stated.

 

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EXISTING HOME SALES FALL IN JUNE VERSUS LAST JUNE – MSM TOUTS RISE

Look at that amazing housing recovery. The usual housing propaganda being spewed this morning by the NAR and the MSM. Existing homes sales are all the way back to October levels, even though this is prime home sales season. The MSM buries the FACT that existing home sales are 2.3% LOWER than last June. The monthly change is meaningless. Home sales always are higher in the summer because families move while kids are out of school.

Let’s get real. Existing home sales are currently at 1999 levels when the working age population in this country numbered 208 million. Today the working age population numbers 248 million. We’ve got 40 million, or 19% more adults int he country, and existing home sales are exactly the same. They are still 30% below 2005 levels and destined to languish and decline over the coming years. Inventory rose 6.5% over last year. So sales are falling and inventory is rising. I wonder what that will do to prices?

 

You get nothing but feel good optimistic drivel from the faux journalists in the MSM. Their job is to keep you in the dark. Some facts from the NAR report:

  • First time home buyers still near record lows of 28%. In a healthy non-manipulated housing market this number is 40%.
  • Investors purchased 32% of all the houses sold. This number is closer to 15% in a normal market.
  • Mortgage applications remain at fourteen year lows.
  • Wall Street banks continue to withhold foreclosures and not foreclose on homes that should be foreclosed upon to prop up prices.

The entire housing recovery storyline has been a scam and a fraud. Now sales are falling and prices will follow. Look out below.

Existing-home sales rise 2.6% in June

WASHINGTON (MarketWatch) — Rising for a third month, sales of existing homes grew 2.6% in June to a seasonally adjusted annual rate of 5.04 million, reaching the highest level since October, the National Association of Realtors reported Tuesday. Economists polled by MarketWatch had expected the sales rate to increase to 5 million in June from an originally reported 4.89 million in May, driven by a strengthening labor market, more homes on the market, and cooling price growth. On Tuesday NAR revised May’s sales rate to 4.91 million. Market conditions are becoming more balanced, but anecdotes still point to a shortage of homes on the market, said Lawrence Yun, NAR’s chief economist. The median sales price of used homes hit $223,300 in June, up 4.3% from the year-earlier period. June’s inventory was 2.3 million existing homes for sale, a 5.5-month supply at the current sales pace. The number of homes available for sale was up 6.5% from the year-earlier period. Including June’s increase, the pace of sales was down 2.3% from a year earlier.

WHAT IF THEY GAVE A HOUSING RECOVERY AND NO ONE CAME?

Inquiring minds want to know how you can have a housing recovery when mortgage originations are at all-time lows. The bright bulbs on CNBC certainly aren’t inquiring. The Ivy League economists at the Fed aren’t inquiring. Wall Street is making bucket loads of dough with their buy to rent scam, so they aren’t inquiring. If it seems too good to be true, it’s too good to be true. There is no housing recovery. There has been a price recovery engineered by the Fed and their Wall Street owners. It benefited them and them only. The stock market isn’t the only rigged market.

Mortgage Originations Plunge To Lowest On Record

Tyler Durden's picture

Submitted by Tyler Durden on 04/07/2014 10:45 -0400

New mortgage originations fell over 23% month-over-month and a stunning 47% year-to-date according to Black Knight (formerly LPS). As they show in their detailed presentation, with a 65% year-over-year drop, new mortgage originations are at their lowest since their records began and what is perhaps more concerning is prepayment speeds signal further declines are ahead and the ratio of serious deterioration to foreclosure (along with huge numbers of loan mods due to reset) suggest the housing market is anything but recovering fundamentally with the average loan in foreclosure now 2.6 years past due.

 

 

But apart from that – prices are up so that must be good right? as affordability for the average joe collapses.

A BAD CASE OF GAS

I love those energy independence stories. They always warm the cockles of my heart while my ass is freezing from the global warming currently consuming the nation. Remember all those stories about U.S. exports soaring? It wasn’t oil exports. It was LNG exports from our shale gas boom. It seems we may have exported too much propane. There are shortages across the country, as the polar express keeps chugging along. National prices have surged by 30% over last year and in some places have doubled or tripled to $5 or $6. But, don’t worry. The BLS will adjust away the increase, so your inflation won’t be higher. And energy independence is right around the corner. CNBC tells me so.

It seems the shale gas boom is running out of gas. The MSM has been telling me we have so much shale gas, we’re going to need Gas-Ex to get rid of it. I’ve read that we’re at capacity. Someone seems to be lying as the amount of natural gas in storage is currently 13% BELOW the 5 year average and 20% below last year levels at this same time. Where the frack did all the Marcellus shale gas and the Ford shale gas go? You aren’t going to tell me the corporate MSM and the Wall Street shysters have been peddling a false storyline?

Well thank God for Global Warming. We all know the planet is getting warmer, so we surely don’t need more propane and natural gas. What you say? Record cold temperatures are here to stay. How can that be? Combine the false storyline of global warming and the false storyline of 200 years supply of shale gas and you’ve got yourself a cold day in hell and a heating bill that will make you shit ice cubes. Keep worrying about that deflation. Your owners are counting on you staying willfully ignorant.