Bernanke's Poverty Effect: Foodstamp Recipients Jump by 400K In November, Hit New Record Of 43.6 Million

Tyler Durden's picture

Much has been said about Bernanke's wealth effect and how it impacts a whopping 1% of the US population (traditionally, those very same bail out recipients who would be insolvent had Gen Ben not rescued the entire financial system at the expense of the DXY, which at last check was below 77 again). Unfortunately, a little less time has been spent discussing the equal and opposite effect: that of the poverty effect. Luckily, every month we get an update on this just as useful metric. And as of November, the SNAP program had 43.6 million participants, an increase of 400k from October, and a 14% increase, or 5.3 million from a year prior. We are confident that this 15% of the US population will be delighted to know that their rapidly diminishing dollars will end up acquiring increasingly less and less stuff.

The chart below says it all.

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TruthInSunshine's picture

When do SNAP cards outnumber iPad sales?

jus_lite_reading's picture

There are too many GREEN SHOOTS to count-

Global riots, increasing poverty, lawlessness, massive storms, record food stamp participation rate, 20% real unemployment, home prices declining 15% YoY, new home sales LOWEST in 47 years, record food and fuel prices, increased cost of living, flat wage increases, and Mervin King admitting the game is over! Let's rally 200 points!


schoolsout's picture

Seafood places around here selling fish, shrimp, crabs and oysters now take EBT


WTF is wrong with that picture?

percolator's picture

What better way to offload that toxic seafood from the GOM.

Bananamerican's picture

Green Shoot™ for the win!!

jus_lite_reading's picture

There are too many GREEN SHOOTS to count-

Global riots, increasing poverty, lawlessness, massive storms, record food stamp participation rate, 20% real unemployment, home prices declining 15% YoY, new home sales LOWEST in 47 years, record food and fuel prices, increased cost of living, flat wage increases, and Mervin King admitting the game is over! Let's rally 200 points!


StychoKiller's picture

More FRN bandaids will fix that right up, along with that extra "eye" in your avatar's head! :>D

greased up deaf guy's picture

snap cards. such a cute and catchy name. i'm sure some needless federal employee got a big pat on the back (in lieu of a bonus) for coming up with that one.

plane jain's picture

The card started in Texas in 1991 as the Lone Star Card and was introduced by John Sharp.  voted for the guy as he actually seemed to be effective in office.

Rasna's picture

What's that... About 15% of the population?

But HamyWanger says the Dow is going to 14,000 and Ben's strategy is working and we are experiencing a great economic recovery.

This 15% along with the remaining unemployed are overjoyed, although they are confused because their food stamps don't buy as much because of the dollar destruction and food and energy inflation also taking place.

Way  to go Ben and your new myopic BFF Hamy "Let them eat cake" Wanger.

HamyWanger's picture

This is good news for food producers.

DOW +1.13% agrees with me. I think we're headed right to 13,000 before June, and 14,000 before August.

All the money spent by food stamps flows into the agro-industry, which stimulates stocks, which stimulate the global economy.

This is a virtuous circle.

TruthInSunshine's picture

Of course it's good for big Ag.

The demonrats are to big Ag what the repubirats are to big Defense.

House Passes Farm Bill, Expanding Food Stamps


Calmyourself's picture

Lots of money left over to purchase home decor,, Bullish, Harry very bullish.. Long soapdishes and decorative toilet paper holders in the shape of poodles like Grandma used to have..

cossack55's picture

I think a little soft on the #s there, HW.  Add 2K to each and you may be closer.  BTW, is a virtuous circle anything lkie a circle jerk?

RockyRacoon's picture

Look for SOG to make new highs!  That's soggy biscuit for all you uninitiated.

FOC 1183's picture

just because it's called boone's farm doesn't mean it's agro-industry

SwingForce's picture

Yes its true: you can't use food stamps on prepared or hot food items, therefore people buy much more "raw" foods for the same dollar. Could be 4 to 5 times as much, think of how much groceries vs. $10 lunch at Wendy's. As a side effect, these 43.6 million people are eating healthier than they ever have before. 

Pants McPants's picture

Was it the SNAP program or relief $$$ that could be used at fast food joints?  I can't remember.

-Michelle-'s picture

Elderly, disabled, and homeless can use SNAP to get prepared foods, including at restaurants.

StychoKiller's picture

In one state, it was found that you could use your EBT card at the casino's or strip club's ATMs -- how's dat sit wit yaz?!

ColonelCooper's picture

Works for Schwann's though (except ready to eat ice cream etc..) Hottest Schwann's route around here is the one through the indian reservation.  Just sayin'.

Fernley Girl's picture

people buy much more "raw" foods for the same dollar.

Not  where I live.  I think half the people in my town are SNAP recipients, and, from what I've seen there's a whole lot of over-processed, over-priced, no-nutrient food in those baskets.  If the gubmit wants to intervene in how amerika eats they should start with SNAP guidelines for eligible foods.


traderjoe's picture

Monsanto and the other government masters are perfectly happy with the current arrangements, thank you very much. 

Fearless Rick's picture

Bull. Pure and simple. These welfare mommas are so fucking lazy they don't cook, either. I see their carts full of TV dinners and other frozen foods like waffles, french fries, chicken niblets, etc., and let's not forget the generous helpings of soda, cheese doodles, chips, ice cream, cookies, candies and other healthy treats.

The loneliest man in the ghetto is the produce manager.

ColonelCooper's picture

Agreed.  Truth's a bitch ain't it?  That's some kinda life we "help" these people lead.

Cathartes Aura's picture

gee, wonder why the welfare daddies don't cook for their kids?

ThePhysicist's picture

Welfare parasites are sucking the life out of society.

zenblkboi's picture

i don't think that's just the welfare mommas,  that's every American momma.  No one in the country believes in eating healthy, not just the poor.


I just got on food stamps. I make so little with my fellowship in grad school that i get 200 bucks a month!!   And i buy mostly veggies, frozen pizzas, and red bull. IT's really helping me to finish this paper i'm trying to get published.

EscapeKey's picture

I can't believe a troll receives the most replies on this website. You're obviously very good at it.

Sudden Debt's picture

He's doing it on purpose, nobody's that retarted ;)

EscapeKey's picture

Oh I know, but look through the posts - it's remarkable. Even when there's a handful of replies pointing out it's the fake one, there are still a couple froth-at-mouth kind of responses following! Impressive trolling skills!

StychoKiller's picture

Move over, Pavlov and B.F. Skinner! :>D

Spastica Rex's picture

GODDAMMIT. It's getting hard to tell the Wangers apart without paying careful attention. I'm tempted to reflexively ignore any posts under an American flag. And that's just not fair to the original troll Harry. It's almost like Harry has LOST HIS OWN VOICE and is no longer relevant here.

Think of the children; think of Harry.

RmcAZ's picture

+1, I got Hamy'ed on this one.

RockyRacoon's picture

When the actual posts are similar it gets difficult to tell them apart.

I just count the stars on the flags for clarity.

NumberNone's picture

Hammy has diluted Harry...which I think is the intent.

Calmyourself's picture

Careful CD will stalk you if you get it wrong..

glenlloyd's picture

There's very little about this that's virtuous, and you're an idiot for suggesting that it is.

pods's picture

No Hamy, a virtuous circle will be one that the rich make when the poor have them roasting on a spit.

Ummm, Long Pig, it's what's for dinner!


bbucks's picture

Nope, I think we are heading to dow 20,000 by the end of the year since there will be a 30% increase in food stamp participation and a huge increase in unemployment.  Like Pelosi said, more money that the government gets into the hands of the starving masses via food stamps, welfare, unemployment checks, etc, the more this stimulates the economy and causes growth throughout the country. 

LooseLee's picture

You are an immoral propaganda minister with a bullseye on your forehead!

Don Birnam's picture

36 junks for Hamy. Is this a ZH record for a single post ?

What_Me_Worry's picture

Obviously, food stamps are in a bubble.

You can't eat food stamps.

VisualCSharp's picture

Wealth effect, bitchez!

nope-1004's picture

Ben, Timmay, and Oscama will hang one day.

But not until hyperinflation eats the common people first.  At that point, it's too late for the middle class.

Something needs to be done now, or just BTF-PM-Dip.