Food Stamp Usage Hits New High Of 43.2 Million

Tyler Durden's picture

Ever wonder where all the money for equity inflows came from? Here's the answer: with all the money saved from participating in the Supplemental Nutrition Assistance Program, better known as foodstamps, which in October hit a brand new record, 43.2 million Americans decided to join in on this "wealth effect" they had been hearing so much about and buy Apple stock. After all 190 hedge funds are doing it: and there is no way that 190 hedge funds can possibly be wrong. As a result, the chart below shows our nation's pending wealth effect in its full glory. Just think: 43.2 millionaire in waiting. Just consider the guaranteed explosion to money velocity...

h/t john lohman

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HungrySeagull's picture

Along with Medevial Warfare tatics such as dead bodies and other rotting things so that the invaders will be sickened.

gookempucky's picture

There's nothing like the daily double

Numbers from oct--better hang another million handle on that one.

Bear's picture

The Food Stamp (FSUSA) chart looks just like AAPL (except for 5/6/10).

Commander Cody's picture

How do you qualify?

Dr. Engali's picture

Quit your job, go lay on the sofa and watch tv...have a baby or two out of wedlock and complain all day because those that work don't pay you enough.

Vashta Nerada's picture

I'd like to see a correlation chart of food stamps vs. tramp stamps.

Judge Smales's picture

Roughly 100 percent corrolation, including all the kids.

wisefool's picture

"have a baby or two out of wedlock"

This is the absolute key. We have our PhDs in economics working on the wrong problems. Unemployment, Education, housing, agri-business, commuter pollution, and to a large extent, crime revolve around one and only one issue. Enlightened Bureaucratic Pornography.

If you encourage parental situations that match the 18 year maturity duration of a well raised child, <sarc>those types will have too many children.</sarc> Also one parent, if comfortable in a strong monogamous relationship, is likely to forgo playing master of the universe like Murphy Brown. This affects GDP and tax revenues.

If you discourage long term monogamous parental situations, then the partners have less control in the upbringing. If you take away the reward of a well raised child, why pay into the production? Enter FoodStamps, The Department of Education, The Department of Corrections, and the entire academic industrial complex, which the financial collapse has proven, teaches one curriculum, regardless of degree = Psychopathology! 

"A system of morality which is based on relative emotional values is a mere illusion, a thoroughly vulgar conception which has nothing sound in it and nothing true."

End the Fed, The IRS (tax code), and re-train anybody who has a graduate degree in LAS.

alien-IQ's picture

I'm looking forward to your next comment in which you will surely be rambling on about the luxurious life of state prison inmates.

The vast majority of people on food stamps are not there by philosophical choice but rather by desperate need to EAT. If you are looking for a chart correlation, why don't you look at the unemployment rate since 2007 and see if it correlates to the food stamp chart...Do you think the unemployment has just a little something to do with the rise in food stamp use or is that just a fucking coincidence?

There's a fine line between being a capitalist and being a heartless asshole...if you look in your rear view mirror, I'm sure you'll see it.

wisefool's picture

Not sure if you are responding to me or Dr. Engali, but my post applies to poor people with children as well as TPTB with their clepto-captiolistic ponzi (I was hoping to get some takers on the POMO/maturity language)

midtowng's picture

The correlation is between food stamps usage and the U-6. A lot of people forget that a majority of the people on food stamps are working poor.

wisefool's picture

The "talent" in a psuedo-intellectual inflationary buerocracy produced adult film.

Do you realize what most people at the SEC use their internet connections for? Continuing education.

dbach's picture

My wife's coworker who is a single mother of a few, had something like $600+ that were about to expire, so what did she do? She threw a block party, buying the food with the SNAP money.

It's not about being/not being compassionate. We give to the food pantry - there people get what they need with better oversight for abuse.

And no we weren't invited to the block party, but we sure paid for (part) it.

Max Hunter's picture

Let's see.. Since SOME of the people take advantage of the system, the people that ARE poor and NEED the assistance get the same label.. Nice...

Yeah.. you're right, no such thing as poor people down on their luck.. Just a bunch of lazy fuckers spitting in the face off opportunity laid out so fairly by our FREE COUNTRY and capitalism..

dbach's picture

There are poor people down on their luck. And I identified an appropriate means to meet these people's needs. I also didn't call anyone a lazy fucker as you so kindly put it.

Jeesh lighten up.

EDIT: You should read more critically before taking the time to tee-off on someone; you completely missed my point. But I won't hold that against you because your failure of reading comprehension is the fault of our broken education system. 

Your argument is one level of logic deep (people need food -> SNAP is good), while ignoring that charity isn't charity when it is forced by the government. Contrast that with the proposition that citizens help those around them through a conduit of their choosing, out of their own free will because its the right thing to do as a citizen/neighbor. The average person will say "Yes I can go without something I want and help the less fortunate". The most effective conduit for helping people will get the resources they need. I don't think the government is good at that and I would like to allocate my resources elsewhere but am I free to do that?

Finally, now the US government has 43 million people dependant on its help. Are people going to bite the hand that feeds them if there are other transgressions against them? (think TSA, excessive taxation, stupid wars, bailing out buddies).

HungrySeagull's picture

It is good that the United States is so compassionate towards the poor.

My last can line I ran at the food pantry revealed about 300 families who were required to come to the Church and sign in as they were also receiving USDA foods etc. Every month the same people come. Along with some new faces. The cars they drive to get to the pantry are essentially out of service for a variety of reason, least of which is the pile of trash that they are too "Tired and Depressed" to take a moment and shovel out.

Every time some one swipes a food card, the entire checkout line is stopped waiting on a supervisor to come out, swipe his card and enter a pass code to allow the system to get it all in.

I just recently left a local grocery, in it were about 20 single mom families half of which are coughing and displaying signs of sickness and hunger while filling carts with the cheapest possible generic drinks and foods. The kind you open the box and pour instead of actually cooking .

Max Hunter's picture

because your failure of reading comprehension is the fault of our broken education system. 

Good idea.. We will just forget about indifference and chuck it up to my failure to comprehend... good one..

Look where the conversation goes everytime there is a post about food stamps.. Very little is said about the NEED for such programs and much is said about the abuse of it.. You decide where consensus stands..

Max Hunter's picture

There's a fine line between being a capitalist and being a heartless asshole...if you look in your rear view mirror, I'm sure you'll see it.

I liked your entire comment.. By looking at the number of junks on it, it appears that heartless assholes are not in short supply.. surprise.. surprise..

"poverty is the worse form of violence" Gandhi

Dr. Engali's picture

There is a difference between being compassionate and taking care of the poor (which we should do) and dealing with those who take advantage of the system. All they do is provide nothing and raise the cost of living for the rest of us. Never ending food stamps,never ending welfare,or unemployment insurance provides a disincentive to work.

TheGreatPonzi's picture

Max Hunter -> Why do I have the feeling you never were poor in your life?

The ones who always talk about poverty are the rich or the middle class.

The poors don't give a fuck about it.

My grand-parents were poor, just like nearly everybody else, they just sucked it in and worked. At the time they were living in a 14 degree Farenheit home during the winter and were killing hogs for a living.

Today, I have the feeling - and not just the feeling, actually, because I lived right next to a lot of "poors" - that if people spent more money on basic needs than on expensive clothes and phones, they would have a lot more disposable income. You can call me an heartless asshole, I don't care, because I'm probably more sensible to injustice than you, and poorer than you.

thetruth's picture

if you look in the rearview mirror, shouldn't you be seeing the road behind you?  just saying

nmewn's picture

"There's a fine line between being a capitalist and being a heartless asshole..."

I've wondered where that line resides myself.

I've also wondered how much time "the poor" spend worrying about the hopes/dreams/aspirations of "the rich".

Not being poor or rich I wouldn't know...I would like to believe it's a two way street...but I kinda doubt it ;-)

voltaic's picture

You may want to look at the demographics of SNAP before jumping on the Glenn Beck rant: http://www.nytimes.com/imagepages/2010/02/11/us/11foodstamps_graphi.html?ref=us

 

About 40% of recipients worked 48 or more weeks.

Less than 5% of recipients collect welfare.

About 25% have some college education.

AnAnonymous's picture

Rather stupid. Guys laying those accusations do not care about that. They want to blame people.

Food stamps is the life. Much better than eating in fancy restaurants.

When you want to beat a dog...

Dr. Engali's picture

Glenn Beck is a fool. Me thinks you probably follow him more closely than I.  I do know people who were employed by me and I know how they would calculate just how much they  could work before it affected their benefits.They wouldn't work a minute more. They all fit the same demographic.

midtowng's picture

That only means that you aren't paying much.

In order to collect food stamps you have to be very poor, and own very little.

Considering the way you talk about your employees, you must not have any respect for them at all.

Dr. Engali's picture

Sorry but you are wrong there. I made sure to pay above what the market would bare to retain good help. I never felt turnover led to anything good,and over the long haul was more expensive. But there was always a certain  group of people who would always do the same thing....calculate what they can work and not work past that. Of course you are probably the type of person who believes that  you should make more money than the business operator.

AnAnonymous's picture

Are you telling that your employees are intelligent enough not to push themselves into impoverishing situations?

You should have hired stupider people then... Less able to compute the best deal for them. You should be able to extract more from this type for a lower cost.

QQQBall's picture

I cannot provide it, but I serious doubt if only 5% of welfare recipients food stamps. they might call it WIC or some other bullshit, but it is absolutely unbelievable that only 5% get food stamps. SO there junk me.

 

Over 70% of black babies are born to single moms or sumtin like. That is messed up! Da' be getting da' SNAP. 

 

Is it really true you can us SNAP at Fastfood restaurants? Really?

Agent P's picture

I believe the comment was 5% of SNAP recipients also receive welfare payments, not the other way around as you have it.

Gold...Bitches's picture

If you got a problem with WIC - you're a fucking moron.  Obviously you have no idea how WIC works or what is allowed to be purchased or the amount that is provided.  I'm not gonna spam the entire list but here is an example:

 


Milk

Type and size specified on check
Fluid milk: Least expensive brand, Fat Free, 1% Lowfat 
NO flavored milk or buttermilk

Only when specified on check:
Fluid milk:  Least expensive brand, 2% Reduced Fat milk, Whole milk
Evaporated or dry milk: Least expensive brand , Whole, Lowfat or Fat Free
Long-Life milk: Any brand, Whole, Lowfat, or Fat Free
Lactose free milk: Any brand (Example: Lactaid)

Cheese

One package only, up to 16 ounces

Any brand, American, Colby, Cheddar, Monterey Jack, Mozzarella or Muenster
NO deli cheese
NO sliced cheese (except American)
NO string, shredded or imported cheese, cheese food/product/spread, individually wrapped slices, snack packs, or flavored cheese

 

Its all like that for all the items.  Google something next time for 10 seconds.

and they say qty of each item.  If they dont list that you can buy one of this or that and at this specific size you cant get it.

http://www.mass.gov/?pageID=eohhs2terminal&L=5&L0=Home&L1=Consumer&L2=Basic+Needs&L3=Food+%26+Nutrition&L4=Women,+Infants+and+Children+(WIC)+Nutrition+Program&sid=Eeohhs2&b=terminalcontent&f=dph_wic_c_list_food&csid=Eeohhs2

 

 

Dr. Sandi's picture

How do you see to type with your head that far up your ass?

Dr. Engali's picture

Not a bad looking chart. Maybe I should have put my money to work there.

Sudden Debt's picture

I'M BUYING THE 45M CALL OPTIONS MARCH 2011!!! :)

 

YUMMY YUMMY YUMMY, I'VE GOT FOODSTAMPS IN MY TUMMY!!

DonnieD's picture

Don't give GS any ideas. They'll get long Food Stamp calls and drive every middle class American onto the rolls.

NumberNone's picture

Too bad for GS that JP Morgan has already cornered the market on food stamps.  Does anyone think that the food stamps numbers will ever go down as long as that giant leach JPM makes money from it?

Here's an interesting online question I found about this from someone on food stamps..."Can JP Morgan stop you from getting food stamps when you owe them money?" 

If this is a concern to people on food stamps...the possibilities are endless in terms of what JPM could do with this power.  Feel free to speculate. 

http://answers.yahoo.com/question/index?qid=20100326213105AAOjlac 

DonnieD's picture

That's 43.2 million people contributing to food price inflation. Have we learned nothing in the past 2 years? If you can't afford it, you shouldn't get it!

 

Zon's picture

depends. In a true free market(fyi, the one we have right is nowhere near free) there should be no food stamps. However in our current Corporatist economy, food stamps are needed as they are the only thing keeping the corporations from paying us in a loaf of bread for every 40 hours worked.

tmosley's picture

Logic failure.

Compensation rates are set by market forces, not corporate fiat, even in a corporatist economy.

QQQBall's picture

Is it true that the 43.2 MM are only the adults?

tmosley's picture

A very interesting question for which I do not have an answer.

Gully Foyle's picture

QQQBall

"Is it true that the 43.2 MM are only the adults?"

It should include anyone having regular meals in the home. States differ, and obviously claims differ. There may be adult children having meals but not included in the food stamp calculation.

 

goldfish1's picture

Looks like I'm truly fortunate to be working at the grocery for minimum wage parttime. No layoffs there.

uno's picture

also the feds pay farmers not to plant

MachoMan's picture

They're both subsidized and, for the poster above, the government doesn't pay dick to not farm your land...  that practice is largely over.  Now, there are numerous programs to take your land out of production, but this is not the same as fallow.  Don't forget farming via crop insurance.

NotApplicable's picture

Now, there are numerous programs to take your land out of production, but this is not the same as fallow.

What's the difference?

Around here there are many farms that do nothing with the land now but cut hay.

MachoMan's picture

The difference is the time frame.  Some governmental programs take land out of production permanently, others only temporarily or do not require, for example, planing of trees on the property (just leaving land fallow).  As a result, the respective subsidies are different.