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Food Stamp Usage Hits New High Of 43.2 Million

Submitted by Tyler Durden on 01/07/2011 14:57 -0400

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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Sat, 01/08/2011 - 17:46 | 857920 Clapham Junction

(d)

Fri, 01/07/2011 - 21:05 | 857956 bugs_

I happened to be driving through Arkansas and saw the gas pumps now accept EBT cards.

Fri, 01/07/2011 - 21:21 | 857976 -Michelle-

The max allotment for 1 person is $200. You can get the following from Angel Food Ministries for:

$31

1.5 lbs beef roast

2.5 lbs chicken breast

2 lbs breaded chicken breast

1.5 lbs cooked meatballs

2 lbs minestrone soup

1 lb lean ground beef

1 lb sweet italian sausage

1 lb yellow squash and zucchini

1 lb sugar snap peas and carrots

5 lbs waffle fries

6.9 oz beef-flavored rice and vermicelli

1 lb pasta

25 oz pasta sauce

1 lb northern dry beans

18 oz quick oatmeal

32 oz shelf stable milk

1 dozen eggs

Family-size dessert item

For $31. They take SNAP, too. How many people are using that resource?

Goodness, for $10 more, they throw in:

2 lbs lasagna

1.5 lbs pork chops

1 lb hot dogs

14 oz breakfast sausage

1 lb green beans

8.5 oz Jiffy Corn Meal mix

Somehow, some way, a charitable organization is able to do that.

http://www.angelfoodministries.com/menus/menu_2011-01_en.asp?

Fri, 01/07/2011 - 21:27 | 857981 Shameful

The LDS also sell food on the cheap. When my buddy stocked up he realized that the wheat was selling for below market price. Guess they grow their own they basically sell at their cost to the members and people who call them. Bit more a bit bulk thing though.

Honestly I've seen food stamps to buy steak, when I'm buying a tube of ground beef. Ah well, I don't hold it against them at all. Free money is hard to turn down, but hope they will figure out a way to make it (outside of theft) when Uncle Sugar directs all blood flow to the banks and there is not enough left for these social programs.

Sat, 01/08/2011 - 01:52 | 858308 gwar5

Yes, I checked out the LDS thing online last month after somebody here mentioned it. Sorry I don't have the link here but their website gives locations around the country where you can pick up. Pretty cool.

Sat, 01/08/2011 - 13:34 | 858767 Kali

Local food banks are great, community oriented. Often with quite good food for recipients. Every year, I donate a hefty amount of food from my crops/livestock. I only grow for my family/friends, but still have plenty left to donate to local food banks every year.

Fri, 01/07/2011 - 22:52 | 858078 Rusty Shorts

No Bacon, No Potatoes.

Fri, 01/07/2011 - 23:17 | 858124 -Michelle-

No, but there's still $159 left on the SNAP card.

Fri, 01/07/2011 - 23:23 | 858131 Rusty Shorts

What is a SNAP card?

Sat, 01/08/2011 - 11:43 | 858629 -Michelle-

The food stamp card. $159 will buy a lot of bacon. The same site offers a fruit and veggies box for $23 that gives you oranges, grapefruit, tangerines, pears, apples, Idaho potatoes, sweet potatoes, yellow onions, cabbage, fruit juice, and trail mix.

In fact, you can order just about every package on the current menu (minus the gluten-free, ready-made meals, and chicken nugget box) for $196.

Shoot. I may order myself next month.

Sun, 01/09/2011 - 02:47 | 861255 Rusty Shorts

-- do they accept cash?

Sun, 01/09/2011 - 11:14 | 861745 -Michelle-

Angel Food Ministries is open to everyone. They accept cash. The more people they have ordering, the better deals they are able to get. There are no requirements other than placing your order on time and going to a local site to pick it up and pay for it.

Fri, 01/07/2011 - 23:40 | 858156 Aristarchan

Jeez...outfitted with that spread, I could manage to have Larry Summers over for a light brunch.

Sat, 01/08/2011 - 00:06 | 858198 subqtaneous

Amazing! Thanx for posting that.

Fri, 01/07/2011 - 21:24 | 857979 Bas

Trickle

There's your free lunch, exorbitantly privileged Americans!

Fri, 01/07/2011 - 23:24 | 858132 sub Z

King crab legs or lobster tail? Maybe both, with a side of snickers bars? That is the question folks... yes it is.

Fri, 01/07/2011 - 23:30 | 858144 Rusty Shorts

Parley

http://www.youtube.com/watch?v=odITdWALhBY

Sat, 01/08/2011 - 04:12 | 858373 sub Z

lulz... found another option here

http://www.youtube.com/watch?v=TF8BKYtBX8Y

Fri, 01/07/2011 - 23:49 | 858176 penisouraus erecti

Probably none of these folks will be using them.

http://www.ntui.org/NTUI/downloads/11910Pensionshandout.pdf

Guess that's why Illinois needs to raise taxes by 75%

Sat, 01/08/2011 - 00:04 | 858196 Dr. Porkchop

http://flagsgonewild.files.wordpress.com/2009/12/china_made_american_flag_pin.jpg

Sat, 01/08/2011 - 00:13 | 858207 ak_khanna

The jobs could have been saved if :-

The government had let the big banks fail.
OR
Pressed criminal charges on the people in top management positions of those banks for fraud and changed the management of those banks before offering it a bailout.

Immediately Reinstated the Glass Stegall Act.

Government could have used the bailout money to fund infrastructure projects around the country which would have created jobs immediately. Instead they chose to hand free money over to their buddies (same people who caused the crises because of speculation and leverage) for speculation in stock and commodities markets.

Taken quicker steps to reduce housing loan principle in order to make it easier for the majority of the population to pay their monthly installments while staying in their homes thus avoiding foreclosure.

But of course we can keep on dreaming.

http://www.marketoracle.co.uk/Article24581.html

Sat, 01/08/2011 - 00:25 | 858218 Captain Kink

deleted

Sat, 01/08/2011 - 01:36 | 858286 gwar5

Food stamps don't work. Trust me, they'll just send your letters back

Sat, 01/08/2011 - 01:49 | 858304 Paul Thomason

Food Prices At Highest Levels in Human History!;

http://clicky.me/3j9G

Thanks excellent, well done Ben.

Sat, 01/08/2011 - 07:15 | 858411 Byte Me

Any guesses as to when SNAP is going to apply to WFP for assistance? Seems to be a logical endpoint for the nation that is the largest giver of food aid to become the largest recipient too.

Bit like taxpayers subsidising the taxpayers - at a subsistence level.

How America has fallen..............

Sat, 01/08/2011 - 08:12 | 858422 TheGreatPonzi

Fuck the leftists, fuck the liberals. They never lived with poors in their lives, but always talk about them. They never were poor in their lives, but always talk about them.

In France, we have a word for them: bobos, or gauche caviar.

Sat, 01/08/2011 - 08:38 | 858434 Rodent Freikorps

You'd think they'd want to hang out with the poor since they helped create so many of them.

Sat, 01/08/2011 - 08:48 | 858442 gloomboomdoom

NO MORE FUCKING LIES!!!

9/11 was an EVENT to cover up some massive conspiracy

2008 "Collapse" same thing.

the USA= Captured Nation

Australia is getting BRUTOOL! gODD is in their heartz

Get off your asses fags and do something about it! (WHITE CIVIL RIGHTS...UNITE!!!)

http://www.youtube.com/watch?v=u--cBeFV8k0

Sat, 01/08/2011 - 08:50 | 858443 anony

That's nothing. Eventually most of the world's population will be on one form of free food or another.

The globe hasn't only reached Peak Oil. Among the other 'resources' the world has attained dubious levels of Peak, is JOBs.

The guiding lights at the top of the world pyramid already know that the 7 billion people on the planet must either be reduced by half thru some kind of "Black Swan" event or a way must be found to keep them somewhat sedated with the basics: Food, clothing, shelter, cell phones, and TV. These will all be relatively free to the people of all countries. They will need something to do with their time, too. They will be the most liberated among us to pursue whatever they can afford thru their native intelligence levels, grit, and energy levels.

If other impecunious somnolent populations in other countries are any guide to how the future people will develop, don't expect much other than billions who will do next to nothing but breathe, eat, screw, shit, and piss and be decried (as are the good folk of Haiti, Darfur, Ethiopia, Harlem, Detroit, Compton, etc.).

They will live like the very rich, without the toys.

Sat, 01/08/2011 - 08:49 | 858444 cramers_tears

103K new jobs in Dec. point to slow, steady growth

By CHRISTOPHER S. RUGABER (Bloomberg)

The nation's economy added 103,000 jobs in December and the unemployment rate dropped to 9.4 percent last month, its lowest level in 19 months.WASHINGTON.But the job growth fell short of expectations based on a strengthening economy. And the drop in unemployment was mainly because people stopped looking for work. Private employers added a net total of 113,000 jobs last month and the government shed 10,000 jobs, the Labor Department said Friday.

So w/ years of this kind of growth we'll have the UE rate down below 5% in no time. Then Apple will be $3800/shr w/ all this new foodstamp money in the game. I'm thinking about starting a brokerage house that sells food and stock. All they've got to do is come swipe their food card in my little machine and voila~ .01% of Apple stock! We're investin' now - Bitchez!

Sat, 01/08/2011 - 10:40 | 858536 DrLamer

Merry Christmas (Eastern Orthodox church's)!

Sat, 01/08/2011 - 10:54 | 858546 sethstorm

Wonder what would happen if you compared it to a U-6 graph.

Sat, 01/08/2011 - 11:59 | 858638 pauldia

sorry can not post image

Food Stamp Usage Hits New High Of 43.2 Million

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