According To Its National Bureau Of Statistics, Chinese Food Prices Have Increased By 4.6% In Ten Days!

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Mon, 02/14/2011 - 13:08 | 959960 NOTW777
NOTW777's picture

you wont see this in MSM headlines

Mon, 02/14/2011 - 13:13 | 959973 gmrpeabody
gmrpeabody's picture

Does this mean they won't honor the buy-one-get-one-free coupons if you're seated before 5:00?

Mon, 02/14/2011 - 13:20 | 959997 william the bastard
william the bastard's picture

It's only 168% annualized (not compounded every 10 days however)

Mon, 02/14/2011 - 13:25 | 960011 FOC 1183
FOC 1183's picture

Technically, it should be compounded though, so the correct forumual is (1+ 0.046)^(365/10) - 1  = 416%

Mon, 02/14/2011 - 13:27 | 960028 william the bastard
william the bastard's picture

Touche'. 168%=meh.

400%=Food riots=Balkanization of the PRC.

Mon, 02/14/2011 - 14:05 | 960064 hedgeless_horseman
hedgeless_horseman's picture

$19.40 per gallon of milk? 

Are my calculations right? 

----------------------------

8.2 yuan

250 grams

1.24 dollars

0.55 pounds

2.26 dollars/pound

8.6 pounds milk / gal

19.4 dollars per gallon

 

Maybe so...

The price of a dozen eggs was over twice as expensive, and a liter of milk was nearly three times as costly, in China as in America.

http://www.businessinsider.com/china-more-expensive-than-america-2010-12

Mon, 02/14/2011 - 14:31 | 960299 Fish Gone Bad
Fish Gone Bad's picture

This is actually really good news.  Good to make people upset.

Mon, 02/14/2011 - 15:15 | 960398 ZerOhead
ZerOhead's picture

Absolutely correct Fish... the best thing we can do is drive these food commodity prices to the moon and then look at how many multiples of Global Annual Grain Production Goldman and Co. have on their books.

There will be blood in the streets.

Then "God's Work" will truly be done. But we need to drive these prices up hard and fast and NOW!!!

As a side benefit... as food inflation runs rampant throughout China the workers will demand more $$$ for their labor... thus helping the handfull of American manufacturing companies still producing real goods (you know... the 'old' economy) to become more competitive.

Oh... and the 28% increase in the price of cucumbers?

Roses aren't the only thing that goes up in prices right before Valentines day!

Mon, 02/14/2011 - 14:46 | 960340 jus_lite_reading
jus_lite_reading's picture

Actually, they pay $10.46 per gallon. keep it simple stupid KISS

US $3.49/gal x 3 = $10.50 in China

UK' inflation comes out in 10 mins

Fly lice for everyone

Mon, 02/14/2011 - 14:52 | 960364 hedgeless_horseman
hedgeless_horseman's picture

US $3.49/gal x 3 = $10.50 in China

WTF? 

Mon, 02/14/2011 - 14:55 | 960377 jus_lite_reading
jus_lite_reading's picture

Three times as expensive.

Mon, 02/14/2011 - 15:04 | 960405 DaveyJones
DaveyJones's picture

screw the ticky and the laundry, how do these people eat?

Mon, 02/14/2011 - 15:08 | 960415 hedgeless_horseman
hedgeless_horseman's picture

Three times was more than two months ago.  Tyler's data is last week.

KISS no worky...you are going to need to improve your conversion abilities if you want to survive hyper inflation. 

Mon, 02/14/2011 - 17:22 | 961134 jus_lite_reading
jus_lite_reading's picture

Sorry, I stand corrected.

Mon, 02/14/2011 - 15:30 | 960508 SystemsGuy
SystemsGuy's picture

Milk and milk by-products are not necessarily an accurate measure - Chinese diet uses far less milk than the US does per capita, and consequently there aren't the level of subsidies on it that there are in the US. Ditto beef. On the other hand, chicken, pork and rice prices are probably roughly equivalent, and they're at worrisome levels.

Mon, 02/14/2011 - 15:48 | 960611 malikai
malikai's picture

+1

The chinese don't forcefeed their kids BGH milk and eat a bowl of cereal every morning. Chicken is but not so much, however pork, rice, bananas, cucumbers, lamb are pretty significant.

Mon, 02/14/2011 - 20:48 | 961984 Bringin It
Bringin It's picture

Agreed, but the parents do want the kids to drink more milk.  They are encouraged to follow what's called the American model.

Mon, 02/14/2011 - 13:44 | 960112 Going Loco
Going Loco's picture

They'll put up with it until the plice of lice goes up. Then they won't.

Mon, 02/14/2011 - 15:11 | 960424 flattrader
flattrader's picture

Some of them are already eating plastic rice.

Has the cost of that gone up as well?

Mon, 02/14/2011 - 15:51 | 960632 jus_lite_reading
jus_lite_reading's picture

Check the price of oil to see if plastic rice went up...

Mon, 02/14/2011 - 13:55 | 960154 ThirdCoastSurfer
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Good news is the adoption rate of dogs and cats are skyrocketing!

You better lay low for a while Mr. P. 

Mon, 02/14/2011 - 18:39 | 961514 gmrpeabody
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+++

rotflmao..., advice well taken.

Mon, 02/14/2011 - 13:30 | 960045 BorisTheBlade
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You'll see only the results of it several months later (at best), in the meantime, MSM moved on from Egypt to much more important news, like Justin Bieber's performance on Grammy.

Some really nasty shit hits the fan, when rice prices go up, since almost two billion people eat it every day.

Mon, 02/14/2011 - 13:46 | 960114 CPL
CPL's picture

Reason being is the 80-100% crop failure across the board in Mexico.

http://www.upi.com/Business_News/2011/02/12/Freeze-in-Mexico-decimates-c...

 

Plant life doesn't live very long with snow on them. 

Mon, 02/14/2011 - 14:51 | 960363 jus_lite_reading
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No worries. The stock markets are up. Everything is great... just ignore reality.

Mon, 02/14/2011 - 15:08 | 960413 ZerOhead
ZerOhead's picture

Yep.

Any more global warming and we'll all freeze to death! :)

Mon, 02/14/2011 - 16:20 | 960777 mt paul
mt paul's picture

life in our anti demisonaly challenge existance 

freezing is the new sweltering ...

debt the new wealth ..

truth , just filler between 

the lies and deceptions ..

buy the dips 

bytches ..

Mon, 02/14/2011 - 14:08 | 960206 Rider
Rider's picture

 

Some "GDP boosting" inflation sent to you from your dear friend Uncle Sam with Love.

Hug and Kisses, Timmy and Bennie.

 

Mon, 02/14/2011 - 14:54 | 960370 jus_lite_reading
jus_lite_reading's picture

Isn't that the whole purpose of POMO?

Retail "sales" in dollar amount was up- so people are buying more. Wrong.

U3 Unemployment is down to 9%- so economy is recovering. Wrong.

GDP was at 3.4% for 2010 projected at 4% in 2011- POMO works. Wrong.

Mon, 02/14/2011 - 14:32 | 960300 bankonzhongguo
bankonzhongguo's picture

I just do not believe it.

These aren't China stats.

Where are the listings for Tree Ear, Deer Lips and Duck Tongue?

I don't even see "Dog, medium (10-25 kg) - juicy".

Com'on man.  What kind of show are you runnin' here?!

 

Mon, 02/14/2011 - 14:45 | 960344 kaiserhoff
kaiserhoff's picture

Right on, banko.  No listing for Cashew Kitty, Bird Nest Soup, or even Tiger Penus. 

On the other hand, what is hairy tail, and why do I probably not want to know?

Mon, 02/14/2011 - 16:38 | 960890 Calmyourself
Calmyourself's picture

Only liberals get away with blatant racism..

Mon, 02/14/2011 - 15:15 | 960433 THE DORK OF CORK
THE DORK OF CORK's picture

Its got more to with MMT then MSM anyway - check out Jesse for a series of great blogs about the subject , he uses Cullen Roche article on MMT as a background for his thoughts - very enlightening.

Anyway its Bernanke's gift to Asia - such power ,such power - it must corrupt.

Mon, 02/14/2011 - 13:08 | 959962 Horatio Beanblower
Horatio Beanblower's picture

How many people will Bernanke eventually kill?  My money is on millions.

 

"Now Doug Kass Is Spreading Rumors About John Paulson Dumping His Gold"


Read more: http://www.businessinsider.com/doug-kass-john-paulson-gold-twitter-rumor-2011-2#ixzz1DxDLmOo4

Mon, 02/14/2011 - 13:17 | 959987 Racer
Racer's picture

Certainly the amount Hitler killed will pale into insignificance in comparison, but because they are spread around the world and 'only' poor no-bodies will not be counted, just like the unemployment figures

Mon, 02/14/2011 - 13:20 | 959994 EscapeKey
EscapeKey's picture

I'm honestly so friggin tired of BI. Their entire editorial direction shows ZERO courage, ZERO credibility, and ZERO integrity. Their business plan is so obviously about the exit strategy: selling out to a MSM company.

Practically every single headline of theirs is essentially pushing the "established" view. For ages they have been absolutely denying any evidence of inflation, but now that inflationary headlines are starting to appear in MSM publications, they have suddenly started parroting these.

Oh, not to forget about gold. When gold goes up, it is completely ignored. As soon as it goes even moderately down, Weaselthal writes 6 pieces about it. It might as well be a cheap copy of Marketwatch.

Mon, 02/14/2011 - 13:24 | 960015 william the bastard
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Paulson sees the end of QE. Getting out of gold before the crowd. BTW a wonderous sign of a crowded trade is one in which interest is only piqued when price moves against the hopium of the masses. ,-)

Mon, 02/14/2011 - 13:25 | 960016 Cognitive Dissonance
Cognitive Dissonance's picture

You calling my Marketwatch "cheap"? Good for you.

I'd call it a whore, but that would be insulting an honest profession. :>)

Mon, 02/14/2011 - 13:28 | 960033 Don Birnam
Don Birnam's picture

+++

Hear, hear. I deleted the BI link I had created on the iPad months ago; it is quite evident that this site is an appendage of the Huffington Post.

Mon, 02/14/2011 - 13:31 | 960037 Horatio Beanblower
Horatio Beanblower's picture

I think the word you are looking for is 'whores'.

 

Edit: You beat me to it, CD.

Mon, 02/14/2011 - 13:31 | 960048 william the bastard
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Pimp is spelled CNBC

Mon, 02/14/2011 - 13:53 | 960143 Horatio Beanblower
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Who owns CNBSC?  Who owns them?

Mon, 02/14/2011 - 13:58 | 960162 william the bastard
william the bastard's picture

Obama

Mon, 02/14/2011 - 14:01 | 960175 Horatio Beanblower
Horatio Beanblower's picture

Who owns Obama?  Who owns them?

Mon, 02/14/2011 - 16:39 | 960894 jmc8888
jmc8888's picture

Those that own them also own others.  Left, Right, Center, Tea.  All owned.

Want to know who is owned and not? See if they support Glass-Steagall.

(other than ignorance)

Those that are not owned prefer Glass-Steagall

Those that are owned say it's either

a) won't work

b) unconstitutional (bs)

c) not needed/doesn't apply

 

All are full of shit.

The kelptocracy, otherwise known as our British Imperial Monetary System (trending fascist) in practice will not allow Glass-Steagall at any costs. Why?

Because the ideal, the standard (the real stress test), that Glass-Steagall would put the world through would destroy all fraudulent endeavours as well as any entity related to it. Which would be many.

In other words, good times. 

But people don't have the balls, the intelligence, and have become too 'captured' by monetarist ideology to really want to implement the ONLY solution.

Glass-Steagall

Cut the fraudulent debt. Then talk about cuts.  (guess what, after glass-steagall takes out fraudulent debt....you won't have to talk about cuts...gasp)

It really is as simple as Glass-Steagall

Of course the not so simple part is ramming it through the captured or idiot heads.

Mon, 02/14/2011 - 18:46 | 961543 gmrpeabody
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+100

Mon, 02/14/2011 - 19:45 | 961741 Kayman
Kayman's picture

Who owns Obama ?  Goldman.  Hank was the broker. Bought on the cheap.

ROI to infinity.

Tue, 02/15/2011 - 12:55 | 963804 Winston Smith 2009
Winston Smith 2009's picture

Weaselthal is either an extreme idiot or someone positioning to sell BI to some MSM crap site and trying to bring up the hit count by writing columns that people respond to in the negative because they are so incredibly stupid. Every time I begin to read a column at BI that is obviously an incorrect, clueless interpretation of some market event, I check the author and, sure enough, Weaselthal wrote it.

Mon, 02/14/2011 - 13:19 | 959995 Bill Lumbergh
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"I think it’s entirely unfair to attribute excess demand pressures in emerging markets to U.S. monetary policy because emerging markets have all the tools they need to address excess demand in those countries.  It really is up to emerging markets to find the appropriate tools to balance their own growth."

Mon, 02/14/2011 - 19:47 | 961750 Kayman
Kayman's picture

Yeah Bill. 

Just get rid of the reserve currency thingy and you'd be right.

Do NOT follow this link or you will be banned from the site!