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Americans On Foodstamps Hits New Record In August, Increase By Over Half A Million To 42.4 Million, 17% Increase Year Over Year

Tyler Durden's picture




 

Another highlight you may not hear in the President's address from this morning: according to the last Department of Agriculture update, Americans on foodstamps has increased by over half a million in August, hitting a fresh all time high of 42.4 million people relying on the government for basis sustenance. At least now we know where that labor force is going. The August number is a 17% rise from the same time a year ago. That number is up 58.5% from August 2007, before the recession began.

As the WSJ reports:

By population, Washington, D.C. had the largest share of residents receiving food stamps: More than a fifth, 21.1%, of its residents collected assistance in August. Washington was followed by Mississippi, where 20.1% of residents received food stamps, and Tennessee, where 20% tapped into the government nutrition program.

Idaho posted the largest jump in recipients in the past year. The number of people receiving food stamps climbed 38.8% but their rolls are still fairly low. Just 211,883 Idaho residents collected food stamps in August.

The average benefit size per person nationwide in August was $133.90. Per household it was $287.82.

Food stamps have become a lifeline for workers who have lost their jobs, particularly among the growing share of unemployed Americans who have also exhausted their unemployment benefits. Lines at grocers at midnight on the first of the month have signaled that, in many cases, those benefits aren’t tiding families over and they run out before their next check kicks in.

Even during the summer children returned to schools to take advantage of free lunch programs where they were available. Nearly 195 million lunches were dished out in August and 58.9% of them were free. Another 8.4% were available at reduced prices. That number will surge when the fall data are released because children will be back in school. Last September, for example, more than 590 million lunches were served, nearly 64% of which were free or reduced price.

Children whose families have incomes at or below 130% of the poverty level — $28,665 for a family of four — can access free meals. Those families earning between 130% and 185% of the poverty level — $40,793 for a four-person family — are eligible for reduced-price meals that can’t cost more than 40 cents.

We also fail to see just what Fed-induced wealth effect these 42.4 million Americans will receive courtesy of the Fed's generosity targetting Wall Street, corporate insiders, and nobody else.

h/t Papaswamp

 

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Fri, 11/05/2010 - 09:53 | 702413 Xibalba
Xibalba's picture

What happens to the food stamp program once the Fed goes bankrupt? 

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2010/11/5_Ji...

 

Fri, 11/05/2010 - 09:54 | 702417 Mongo
Mongo's picture

Take a guess...

Fri, 11/05/2010 - 19:05 | 703918 Temporalist
Temporalist's picture

I knew if I waited long enough my dreams would come true!  Getting paid just to be American!  Thanks mom and dad!  Thanks everyone who made this day the greatest day of my life!

Fri, 11/05/2010 - 09:55 | 702418 Tyler Durden
Tyler Durden's picture

While we agree about the Fed's capital deficiency, and wrote about it over a year ago, it appears that there is no technical trigger for insolvency of the Fed. I.e., the central bank can have a negative infinite capital balance and proceed to do business as usual. Thank the congress, and today's Jekyll island festivities.

Fri, 11/05/2010 - 09:59 | 702424 Mongo
Mongo's picture

I like when you say negative infinite capital balance. When it's infinite it doesn't even matter that it's negative :P

 

Sat, 11/06/2010 - 00:08 | 704692 J Robert Burgoyne
J Robert Burgoyne's picture

Mongo, you've seduced me into making my first-ever ZH post:

+1

Fri, 11/05/2010 - 10:10 | 702456 JLee2027
JLee2027's picture

 it appears that there is no technical trigger for insolvency of the Fed.

That's what I was afraid of. They have to put down by Congress itself. Lawd help us.

Fri, 11/05/2010 - 10:12 | 702460 tmosley
tmosley's picture

There may not be a technical trigger, but I would wager that there is a sociological/economic one.  Any thoughts?

Fri, 11/05/2010 - 10:26 | 702501 BobPaulson
BobPaulson's picture

Right now the global situation makes a foreign trigger, which IMO is what is needed, unlikely. But I think those states that are looking to pull the trigger, like China and Russia, are now preparing themselves as fast as they can so that pulling the trigger doesn't kill more than one lame horse.

Fri, 11/05/2010 - 11:37 | 702723 Financial_Guard...
Financial_Guardian_Angel's picture

A possible socio-economic trigger (albeit unlikely) is the outing of the FED by the likes of Rand Paul and Jim DeMint. A full audit, hearings, and forensic analysis may be enough to anger enough sheeple to demand a change. I'm all for it--let's shine a bright light in the dark corners of the FED and see how many skeletons we can pull out!

Fri, 11/05/2010 - 12:30 | 702890 Cpl Hicks
Cpl Hicks's picture

I agree with you that the hearings should happen and that many Americans and most ZHers would be happy to see them proceed...but, from a purely practical/realistic viewpoint what do you think the hearings would find and what outcomes might result?

I'm not saying don't go after the Fed and go after them hard.

Just a thought experiment- what might happen?

Fri, 11/05/2010 - 14:08 | 703204 RichardENixon
RichardENixon's picture

What will happen if the Fed is audited is that the auditors will find what most of us here already know: There is a little of over-valued junk on the Fed's balance sheet.

Fri, 11/05/2010 - 10:24 | 702493 Goldenballs
Goldenballs's picture

Presumably the FED goes bankrupt when the currency becomes worthless and therefore they have no power for change.

Fri, 11/05/2010 - 10:34 | 702522 A Man without Q...
A Man without Qualities's picture

But the Fed has an infinite amount of goodwill that doesn't appear on balance sheet...

Fri, 11/05/2010 - 10:57 | 702594 Triggernometry
Triggernometry's picture

Technically perhaps this is so, but by 2003 Zimbabwe could no longer afford the paper with which to print more money. Ultimately the Fed's balance sheet will hit an asymptote. As you say TD, "on a long enough timeline..."

Fri, 11/05/2010 - 10:25 | 702497 MGA_1
MGA_1's picture

I don't see how the fed can go bankrupt.  Now, if you call a hyperinflation of the currency bankrupcy, then that's a different story.

Fri, 11/05/2010 - 10:41 | 702543 Whatta
Whatta's picture

The FED has already said before Congress that their balance sheet is limitless. Limitless means that Unicorns exist and that there can never be a bankrupt FED.

Fri, 11/05/2010 - 11:50 | 702773 BobPaulson
BobPaulson's picture

\lim_{x \rightarrow \infty}} \frac{1}{x}

Fri, 11/05/2010 - 10:53 | 702578 FreedomGuy
FreedomGuy's picture

Thanks, Xi, that's a good link. I like articles that explain things clearly for us nontraders. Pretty depressing, but makes sense.

The thing that gets me is that the Fed seems able to operate in a universe where there are no financial physics. They can stop gravity, travel faster than the speed of light and do opposite things at the same time. Kinda godlike if you ask me. Something tells me that therein lies the problem and there will be a day of financial reckoning...maybe the financial apocalypse that many here fear.

Its hard to believe that the whole world wants to go with us.

Fri, 11/05/2010 - 09:56 | 702419 Boilermaker
Boilermaker's picture

Well, yea, but when those food stamp recipients start feel the 'wealth effect' from the rising stock market and their soaring equity portfolios....THEY'LL be dancing the jig!

They need to start dumping their welfare checks into the market now so that they get in at a good price!

Fri, 11/05/2010 - 10:54 | 702583 FreedomGuy
FreedomGuy's picture

Can you debase the value of foodstamps, too, lol? Maybe the Fed will get into foodstamps.

Fri, 11/05/2010 - 14:01 | 703208 RichardENixon
RichardENixon's picture

I guarantee you someone somewhere is trying to figure out how to securitize them.

Fri, 11/05/2010 - 16:06 | 703507 Dirt Rat
Dirt Rat's picture

The benefits on EBT cards, which are used for both foodstamps and unemployment benefits, are deposited in and drawn from the accounts of...drumroll, please...JPMorgan/Chase. I'm not exactly sure how that works, but they would appear to have quite a bit of blow money for the money markets and however else they play with money.

Fri, 11/05/2010 - 10:00 | 702425 Cognitive Dissonance
Cognitive Dissonance's picture

The more bizarre things become, the more a person's own real(ity) experience diverges from the publicly promoted reality, the more confused the average Jane becomes, the more Jane will welcome the official political lie.

"Well, even though things don't seem quite right, as long as I'm still working and disaster doesn't strike, if the President says things are slowly getting better, I guess I'll just wait and see a bit longer."

The ultimate can that's being kicked down the road is public sentiment.

Fri, 11/05/2010 - 10:39 | 702531 Pining for the ...
Pining for the Fjords's picture

Exactly, CD- and what a reckoning there will be when these comfortable lies are suddenly seen as such by the masses.  On ZH we talk alot about hating the slow death we are witnessing and there seems to be a general sentiment of "Just die, already".  Not me.  I am very, very afraid for the moment when the bulk of people come to see our situation as WE now see it.  And I think most of us have no idea what these suddenly enraged masses, realizing the extent of the the crimes against them, will be capable of.  Personally, I am planning on hunkering down and doing everything I possibly can to protect my kids.  Nothing else really matters to me, at this point.

Fri, 11/05/2010 - 11:50 | 702769 aerojet
aerojet's picture

You're not protecting them by avoiding the reckoning, you're just pushing it further into their future.  Look at Japan, where people can't get married and have kids because that nation has failed to face up to its own central bank failures.  If you live through the turmoil, you will be better off.  I fail to see why you would care to sentence your children to a life of the average Russian--they're alive, sort of, I guess. 

Fri, 11/05/2010 - 10:39 | 702534 BobPaulson
BobPaulson's picture

I actually think the US could contain domestic sentiment a long long time with the level of apathy and ignorance that is prevalent. The Tea Party thing being sidetracked into religious wedge issues is evidence that any effort to make fiscal imprudence an issue will invariably be diverted to dead end circus sideshows that keep the proles screaming at the top of their lungs at each other. Watch the Republican Congress change nothing wrt giving money to Banks.

Public sentiment will worsen but it looks to me that it will remain impotently unfocused until a charismatic dictator comes along and blames it all on some minority group. This outcome now seems, frighteningly, like one of the few plausible ways to exit this morass. Either something like Germany, Italy, Spain, Japan in the 30s or reign of terror like France in the 1790s, Khemr Rouge or similar. Countless scenarios like this have happened in Latin America and Africa.

Fri, 11/05/2010 - 11:14 | 702646 financeguru500
financeguru500's picture

I agree with you completely.

 

It's sad that when the American people do form a group to protest things like unfair taxation, the MSM changes it and even worse the Republicans take over it when it was never a republican movement to begin with.

Any chance the U.S. citizens had to stand up and form a movement are long gone due to the control the MSM has on our country. There is no way to unify a people when what most people see and believe is what they are fed on the television.

Fri, 11/05/2010 - 12:11 | 702832 Cognitive Dissonance
Cognitive Dissonance's picture

Any chance the U.S. citizens had to stand up and form a movement are long gone due to the control the MSM has on our country. There is no way to unify a people when what most people see and believe is what they are fed on the television.

While I agree the level of control is great, there is also some responsibility for the wage slave to honestly reflect upon his or her condition. I would argue that even if the MSM didn't have the control it currently has, I don't know if the passive population would revolt if they did know what was going on.

What comes first, the spirit or desire to know what's going on or the control that helps hide what's going on. The very fact that youknow more than the average Jane or Joe is proof that the knowledge can be gained. Is it the MSM's fault people don't wish to expend the energy needed to find out? If they did find out, why would we possibly think they would actually push back? A chicken or the egg problem.

Fundamentally, this is why various truth movements fail. Because they do not effectively encourage or manufacture the desire to gain knowledge as well as the system itself encourages or manufactures the desire not to know.

Fri, 11/05/2010 - 10:56 | 702590 FreedomGuy
FreedomGuy's picture

You nailed it CD. See my post above. All the official data seems to be coming from a parallel universe that doesn't look anything like my world.

Fri, 11/05/2010 - 09:59 | 702427 Bill Lumbergh
Bill Lumbergh's picture

Apparently the market likes this news...then again everything bad including Wall Street being swallowed by a massive sinkhole is already baked into the price.

Fri, 11/05/2010 - 10:00 | 702429 Implicit simplicit
Implicit simplicit's picture

Could I have a side of socialism with that? Please top it off with extra fascism, and jack up the price of everything derived from any type of commodity-yeah everything.

Fri, 11/05/2010 - 10:23 | 702492 Spawn of Cagliostro
Spawn of Cagliostro's picture

Now that's quality irony!

Fri, 11/05/2010 - 10:03 | 702432 MarketTruth
MarketTruth's picture

Keep in mind the Foodstamps program (SNAP) is operated by one of the owners of the private Federal Reserve bank. Specifically, it is operated by JP Morgan. Am just sayin'...

Fri, 11/05/2010 - 10:03 | 702433 NOTW777
NOTW777's picture

WHAT? no presidential news conference celebrating the food stamp victory

Fri, 11/05/2010 - 10:04 | 702436 ZackAttack
ZackAttack's picture

You have to admire their brazenness... Purposely attempting to create a bubble in risk assets on the theory that the wealthiest 1%, who own 83% of risk assets, will *feel* wealthier and begin to spend and borrow.  

Meanwhile, as this vast experiment in centrally planned social engineering unfolds, the remaining 99% of society is forced to endure margin compression as food, fuel and all other inputs rise in price while wages remain stagnant and unemployment high.

They have trained America well to worship the rich.

Fri, 11/05/2010 - 10:21 | 702486 Max Hunter
Max Hunter's picture

They have trained America well to worship the rich.

Truer words have not been spoken..

Fri, 11/05/2010 - 10:32 | 702514 lead salad
lead salad's picture

+1

Fri, 11/05/2010 - 12:18 | 702860 nonclaim
nonclaim's picture

There's more social justice when everybody is miserable. <sarcasm/>

Fri, 11/05/2010 - 11:47 | 702752 Winston Smith 2009
Winston Smith 2009's picture

"They have trained America well to worship the rich."

By maintaining the illusion that everyone has a significant chance of becoming one of them. "When I become a billionaire, I don't want none of them taxes on me. Now, pass me that Bud, momma'."

Fri, 11/05/2010 - 10:05 | 702439 101 years and c...
101 years and counting's picture

Luckily for those Americans on food stamps, there is no inflation in food prices.

Fri, 11/05/2010 - 10:54 | 702503 hedgeless_horseman
hedgeless_horseman's picture

I am not on food stamps, nor unemployment.  Nevertheless, I am butchering some chickens tomorrow to put in the freezer. 

Cornish Rocks cost me $1.67 per head, and weigh 6 pounds after we butcher them.  It takes about 45 days of eating milk (free from our cow), kitchen scraps (free), bugs from the horse pasture (free), and 1 bag of starter feed per 25 birds ($20).

25 birds cost us $42 + $20 for feed, or roughly $62. 

25 birds x 6 pounds = 150 pounds of chicken, or 42 cents per pound.

Knowing where our food comes from...priceless.

http://www.ideal-poultry.com/pricelist/Retail%20Price%20List%202010.pdf 

http://www.google.com/images?q=chicken+tractor&rlz=1I7GGLD_en&oe=UTF-8&um=1&ie=UTF-8&source=univ&ei=XRjUTPieA4OBlAf8nODxBA&sa=X&oi=image_result_group&ct=title&resnum=2&ved=0CDYQsAQwAQ&biw=1174&bih=737

http://whizbangbooks.blogspot.com/2007/12/wb21.html

http://dishingup.files.wordpress.com/2008/10/turk4.jpg

Fri, 11/05/2010 - 10:55 | 702584 Pining for the ...
Pining for the Fjords's picture

HH-  you are my freaking hero.  My vague plans to build a chicken tractor this winter and start doing what you are doing just got fast-tracked-  thank you. 

 

Fri, 11/05/2010 - 11:07 | 702628 hedgeless_horseman
hedgeless_horseman's picture

Raising chickens is easy, fun, and you will definitely taste the difference.  Remember, the solution for any chicken problem, or problem chicken, is dinner.  I have found disintermediation to be a healthy outlet for ZeroHedge induced angst.

Fri, 11/05/2010 - 12:05 | 702824 kadriana288
kadriana288's picture

Our rooster recently got sent to freezer camp after he went after me. Fresh eggs are much better than anything you can buy in a store.

Fri, 11/05/2010 - 10:05 | 702440 Sudden Debt
Sudden Debt's picture

everybody who has lunch at noon should take some food of their plate and throw it at the first person that looks like he's on food stamps.

FEED THOSE HUNGRY SLACKERS!!!

Fri, 11/05/2010 - 10:45 | 702551 Whatta
Whatta's picture

I am hungry

and, I am a confirmed, gainfully unemployed slacker that tries to take others money away trading.

I am not on food stamps

 

but I AM hungry...mmmmmm, tacos.

Fri, 11/05/2010 - 10:58 | 702595 Sudden Debt
Sudden Debt's picture

call your secretary and tell her you want to eat pussy.

that's what I always do when I'm hungry

Fri, 11/05/2010 - 10:07 | 702442 lizzy36
lizzy36's picture

Well last year Goldman sent out 300 people to help serve Thanksgiving meals at soup kitchens around NY. Perhaps the Feds generosity will mean they send out 600 this year.

Fri, 11/05/2010 - 11:01 | 702610 FreedomGuy
FreedomGuy's picture

They will subcontract it. Will get their $2500 suits dirty. Plus, they don't want to see the people they've impoverished. Too close for comfort.

I'd hire the dumpster diving formerly middle class to serve. Better to be on that side of the line. Then they'll officially drop off the unemployment roles, too.

Fri, 11/05/2010 - 10:05 | 702443 sethco
sethco's picture

Meanwhile, BigBank stocks pumping! I think today is the day I open an account at my local bank.

Fri, 11/05/2010 - 10:05 | 702444 the not so migh...
the not so mighty maximiza's picture

Sad and depressing. 

Fri, 11/05/2010 - 10:06 | 702445 NOTW777
NOTW777's picture

cant we just celebrate another billion dollar India vacation for the king. just think of the glorious parades and speeches

Fri, 11/05/2010 - 10:06 | 702446 buzzsaw99
buzzsaw99's picture

Fear not, our mighty Hopey is going to Asia to beg for jobs!

Fri, 11/05/2010 - 10:08 | 702449 the not so migh...
the not so mighty maximiza's picture

I am sure Barrack and Michelle both have their sets of knee pads ready.

Fri, 11/05/2010 - 10:10 | 702455 Sudden Debt
Sudden Debt's picture

as we speak, containers are being filled up with unemployed americans and will be shipped to China.

Unemployment = will go down

Baltic dry index = as they will be shipped in bulk that will also go up

Oil = those transports will cost a lot of oil so oilprices will go up

...

BO is doing a bang up job!!

EXPORT THE PROBLEMS!!

Fri, 11/05/2010 - 12:42 | 702914 Cpl Hicks
Cpl Hicks's picture

I like it.

And Barack will too. It will be his Lend-Lease Program! See, he's like FDR, savin' the free world from calamity!

Those workers will probably get a discount price on the goods they produce and they will have to ship them back to the family back home to sell in the drive-in theater flea markets. Righteous economic growth will be the result.

Export the problems, import the solutions!

Fri, 11/05/2010 - 10:08 | 702451 JLee2027
JLee2027's picture

This is the first program I'd cut. It encourages dependence.

Fri, 11/05/2010 - 10:27 | 702461 Sudden Debt
Sudden Debt's picture

so true, just give the unemployed men a folder on "how you body can survive without food for 30 days" and a knife to slice their wrists. Problem solved.

And the unemployed woman that look descent enough can we chained and sold as sex-slaves so somebody else can take care of them. The ugly once can be put in a meatgrinder to make dog food.

 

 

Fri, 11/05/2010 - 10:15 | 702467 Boilermaker
Boilermaker's picture

Oh, that's so egalitarian of you.

I agree, fuck those bums and their families, let 'em eat cake.  Just hire more security guards.  Those scumbags have been trying to get food for MONTHS!  Bastards...all of 'em.

Fri, 11/05/2010 - 10:23 | 702491 JLee2027
JLee2027's picture

egalitarian? Huh? 

I believe in the self-reliance that made this country great. But handing out foodstamps to moochers is not great, it's stupid and a waste. How many Americans starved to death between 1776 and 1960?  I can't think of any except the Donner party. No one is going to starve unless they choose to starve. Sheesh.

Fri, 11/05/2010 - 10:29 | 702511 Sudden Debt
Sudden Debt's picture

so you say they should just pick up a gun, shoot down indians, claim their land and start farming on it, and start all over?

Fri, 11/05/2010 - 10:32 | 702515 JLee2027
JLee2027's picture

No, but thank you for putting words in my mouth.

Fri, 11/05/2010 - 10:38 | 702533 Sudden Debt
Sudden Debt's picture

:)

Fri, 11/05/2010 - 11:00 | 702608 Sancho Ponzi
Sancho Ponzi's picture

A retired friend of mine works at a free food kitchen that gets donations from local grocery stores and restaurants. There's a huge local network of churches and charities that provide food to those less fortunate, and there is simply no reason anyone in this community should go hungry. All of this is done without any help from the Federal Government. 

Washington wants you to believe you'll go hungry without their help, but that is simply not true, at least not around here.

 

Fri, 11/05/2010 - 11:09 | 702637 firstdivision
firstdivision's picture

Funny you should mention that.  In my city the Food Banks are running out of food, with declining donations.  So what is happening in your community is not happening in others.  Look at national info instead of saying that your community is fine, why are you all complaining.

Fri, 11/05/2010 - 11:28 | 702690 Larry Darrell
Larry Darrell's picture

You just illustrated the main frustration of the producers of society versus the non-producers, and in a way, proved his point.  His community is fine.  Why should his community have to support yours?   Shouldn't you be supporting it yourself?

 

Fri, 11/05/2010 - 11:56 | 702789 firstdivision
firstdivision's picture

We support our food bank quite well, but too many are losing their jobs that it has become too difficult to support it locally.  It would be nice if the fast food places had job openings so I could tell these people to get a job there, but alas that is not the case. 

Personally, I believe the world is over populated and we have exceeded the sustainability of the population long ago.  The problem is, how to "humanly" diminish the human population of the Earth. 

Fri, 11/05/2010 - 12:23 | 702878 nonclaim
nonclaim's picture

Do us a favor and put yourself out.

Why do these people always think that others are the problem?

Fri, 11/05/2010 - 11:56 | 702790 aerojet
aerojet's picture

Yup, food banks in the midwest are running full tilt.

Fri, 11/05/2010 - 14:52 | 703327 goldfish1
goldfish1's picture

It is so true.

Fri, 11/05/2010 - 20:26 | 704114 Return2Sanity
Return2Sanity's picture

I have a friend who works at one of the big national restaurant chains. They used to donate all their extra food to food banks until a food bank client got sick and sued the restaurant. Now they just throw it away to avoid the potential liability.

Fri, 11/05/2010 - 10:17 | 702472 Handle with care
Handle with care's picture

Me too.

The sooner the people riot the sooner this nightmare can be ended and the slide towards fascist neo-feudalism can be ended.

 

Fri, 11/05/2010 - 11:11 | 702567 firstdivision
firstdivision's picture

Welfare != Food stamps  You're confusing them.  Food stamps only buys food, welfare gets spent on drugs, rent, designer clothing, etc., etc.

 

Or do you believe we should start a government program to hire people to push a barrel around and collect the dead?  I leave it to you to take the food out of the children's hands and then eat it in front of them.

<OT>Speaking of dead in the street, the AMC series "Walking Dead" has been pretty good for their first episode. Anyone else here catch it?</OT>

Fri, 11/05/2010 - 11:33 | 702708 Larry Darrell
Larry Darrell's picture

Go out to a poor urban part of town.  It will help keep you from making naive statements:

"Welfare != Food stamps  You're confusing them.  Food stamps only buys food"

While food stamps may only buy food, lots of people sell them at less than face value for cash so they can go buy "drugs, rent, designer clothing, etc., etc."  So to assume Food stamps is some holy grail of charity is ignorant.

Fri, 11/05/2010 - 12:03 | 702798 firstdivision
firstdivision's picture

I work in a poor community (in the Health Care industry) so I am far from naive. Most people use their cards to buy food and do not sell them.  To assume people do not value free food is quite ignorant, and shows a lack of understanding of human needs.

Fri, 11/05/2010 - 15:23 | 703383 Buckaroo Banzai
Buckaroo Banzai's picture

If you aren't naive, how can you possibly make a blanket statement like "to assume people do not value free food is quite ignorant". There are PLENTY of people who value drugs and alcohol over food, and who prove it every day by selling their electronic benefit cards at a discount for cash. That's a fact.

We can argue about how big a proportion those type of people are to the entire food-stamp consuming universe, but there can be NO argument that a significant fraction do indeed prefer getting high to eating food.

Fri, 11/05/2010 - 10:11 | 702459 JLee2027
JLee2027's picture

Silver blowing up...Kitco down again, grumble grumble.

Fri, 11/05/2010 - 10:29 | 702509 Bill Lumbergh
Bill Lumbergh's picture

Try this instead...live streaming quotes of gold, silver, platinum, palladium, and just about any currency pair you can create:

http://goldprice.org/live-gold-price.html

Fri, 11/05/2010 - 10:34 | 702519 JLee2027
JLee2027's picture

Thanks, I do, but Kitco constantly shows higher prices !?!? Right now, back up...Kitco 12.61, others 12.58.

Fri, 11/05/2010 - 10:37 | 702529 Bill Lumbergh
Bill Lumbergh's picture

If the time settings are not the same that could cause the issue (i.e. one refreshes every minute while another refreshes every five seconds).

Fri, 11/05/2010 - 12:46 | 702927 Saxxon
Saxxon's picture

Kitco is a useful site for bringing it all together and I like Nadler as a sedative when I start getting too excited; but for a clean non-blinky site with free streaming quotes nothing I have seen beats www.netdania.com

 

Fri, 11/05/2010 - 10:46 | 702554 Ratscam
Fri, 11/05/2010 - 14:56 | 703334 goldfish1
goldfish1's picture

Nov 5  26.75

Oct 6  23.30

Sep 3  19.91

Fri, 11/05/2010 - 10:17 | 702471 Spartan
Spartan's picture

more foodstamps = more serfs
more serfs = cheap slave labour
cheap slave labour = higher corporate profits
higher corporate profits = higher stock market

Question, what is the current Fed target for serf creation per year? Does this figure meet their target?

Fri, 11/05/2010 - 10:22 | 702485 SheepDog-One
SheepDog-One's picture

'Labor'...why is that needed, to carry sacks of US $LOLars?
Why go thru all that trouble to reflect 'profits', they can just keep doing what they have been and just make up shit!

Fri, 11/05/2010 - 10:53 | 702580 Whatta
Whatta's picture

Dang Spartan, I think you nailed it. The sooner we hit Viet Nam-ness or China-ness here the Govern-Corpo Elite can start building factories here again.

But that doesn't explain that dastardly President zerO saving the GM unions bacon?

Fri, 11/05/2010 - 10:20 | 702483 SheepDog-One
SheepDog-One's picture

Damn you Kitco! Get a bigger server, you're gonna need it!

Fri, 11/05/2010 - 10:22 | 702488 NOTW777
NOTW777's picture

as the king takes off on his flying throne, his staff members, haines and burnett remind the sheep all the bad things are the fault of the republicans.

burnett posits that if republicans wish to cut taxes, that is "spending"

if dems want to "spend" that is called investment

Fri, 11/05/2010 - 10:25 | 702496 SheepDog-One
SheepDog-One's picture

My dream is when the excrement hits the rotary oscillator, I get the chance to stab Erin in the eye with a pencil!

Fri, 11/05/2010 - 10:49 | 702562 Sudden Debt
Sudden Debt's picture

it's a good thing to still have dreams these days.

No psy. for you :)

Fri, 11/05/2010 - 12:48 | 702935 Cpl Hicks
Cpl Hicks's picture

I'd like to stab her too, but not in the eye and not with a pencil.

Does that make me a sick puppy? I should probably not even post this.

Fri, 11/05/2010 - 10:24 | 702494 RobotTrader
RobotTrader's picture

JPM going ballistic.

 

Fri, 11/05/2010 - 10:27 | 702504 SheepDog-One
SheepDog-One's picture

Good. They pumped it, now try to dump it to someone. Good luck.

Fri, 11/05/2010 - 10:37 | 702513 Sudden Debt
Sudden Debt's picture

Just look at BAC :)

my calls are flying to mars and just passed THE MOON!!!

PARTY RALLY!!!!!

 

BNP Parisbas is so going to get hammerd with their short positions on BAC :)

Fri, 11/05/2010 - 10:28 | 702506 Joe Davola
Joe Davola's picture

With the 1.79 multiplier, that's around 10 billion stimulus!

Fri, 11/05/2010 - 10:29 | 702510 Mercury
Mercury's picture

Well, either un/underemployment is much worse than headline U3 indicates or the government is being way too easy with food stamps or both.

But it simply can't be argued at this point that the employment picture is improving and that only those in dire straits are utilizing food stamps as temporary assistance.

Back to you MSM.

Fri, 11/05/2010 - 10:33 | 702518 RobD
RobD's picture

On the CBS radio news this morning they reported that food prises in restaurants and grocery stores are about to go up considerably. They blamed it on a sudden increase in demand of corn and wheat in India and China. Of course it has nothing to do with the tanking dollar. Lying bastards.

Fri, 11/05/2010 - 13:28 | 703086 SheepDog-One
SheepDog-One's picture

Nah I dont even think theyre 'lying', reporters are just drones who say what theyre told to say.

Fri, 11/05/2010 - 10:34 | 702520 johnnymustardseed
johnnymustardseed's picture

We were offically bankrupt when the FED started buying Treasuries..... a country that can not help the many who are poor, it can not save the few who are rich.

Fri, 11/05/2010 - 10:37 | 702528 carbon based unit
carbon based unit's picture

once again, zerohedge epically fails to focus on what is important; it should be noted that members of congress, both the house and senate, were likely fully invested going into the QE ramp since they are not subject to insider trading laws and no doubt had some insight as to what should have been expected.  so whilst their constituents continue not to suffer since CPI [which, as is proper, excludes prices from the index of things consumers actually have to buy] isn't sky-rocketing, and they themselves are doing really well, all's good.

Fri, 11/05/2010 - 10:46 | 702558 hayleecomet
hayleecomet's picture

Soup lines, oh, I mean food stamps, will be coming to a theater near you.  Beans and rice, bitchezzz.

Fri, 11/05/2010 - 12:50 | 702940 Saxxon
Saxxon's picture

Not stamps any more, at least not in Kalifornia.  They get an ATM-looking card to swipe.  No soup lines.  The unemployment payout is wired to your banco.  The Depression is harder to see.

Fri, 11/05/2010 - 10:53 | 702582 bankonzhongguo
bankonzhongguo's picture

As a few might have noticed from my prior posts, I now play a farmer on TV.  The biggest ingredient to food prices I personally experienced is gas.  I can say from on the ground that there is ZERO reason for food prices to increase.  If anything, for the quantity of factory zero-taste farming the prices should continue to drop.  Its all because people have less to spend generally, but must buy food.  The Corporate slags just want a bigger piece of the serfs' pie.  So food will rise.  Meanwhile, down on the farm - I never ate so well for so cheap in my entire life.

Stocks will rise by the $600B to be pumped in.  Its a party train to Armageddon.

Fri, 11/05/2010 - 14:41 | 703302 goldfish1
goldfish1's picture

Our local grocery store...25% of sales are EBT (electronic food stamps.)

Many many buy the high markup junk food, frozen food and 24 packs of pepsi coke products.

There are many young people starting to get food stamps.

A fella came in, bought $35.00 worth of TGIF frozen crap, Doritos type chips, soda and other goodies. Paid EBT. A blue collar working guy heading home behind him bought bologna, bread and large cheese. $12.00. He looked pissed.

Fri, 11/05/2010 - 15:33 | 703418 Buckaroo Banzai
Buckaroo Banzai's picture

That is yet another reason why Federal EBTs suck and can never be a replacement for a community food pantry or traditional soup kitchen-- a hungry person will usually get fed wholesome food in the latter... not necessarily the case if they are choosing by themselves.

Federal is ALWAYS worse than State which is ALWAYS worse than County/Township/Parish.

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Sat, 11/06/2010 - 23:49 | 706029 Thee Barbarous Relic
Thee Barbarous Relic's picture

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