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"Get Ready For Higher Food Prices" Goes Mainstream

Tyler Durden's picture




 

While nothing new to Zero Hedge readers, the realization that everyone's purchasing power is about to be yanked from underneath them has gone mainstream. Omaha.com has just come out with a headline that leaves little to the imagination: "Get ready for higher food prices." The issue is that no matter how Chairsatan Rudolf Vissarionovich von Bernankestein spins this to whatever congressional minions he is supposed to be lying to at any given moment, the undisputed truth is that consumers have just gotten that much poorer, as prices of staples surge, and as a result capital available for discretionary trinkets plunges (here's looking at you Guitar Hero which has just been discontinued due to lack of interest... Coming to an Apple store near you in 3-5 years). Because no matter what economic voodoo Bernanke, concocts there is little he can do to change the laws of mathematics. So for those who wish to stock up on staples in advance of a price surge (thereby bringing the price jump forward), and still haven't done so, here is the "mainstream" explanation for why now is a very good time to start doing so.

From Omaha.com

Shoppers could see higher grocery bills as early as three months from now, though most of the impact won't be felt for another six months, said Scott Irwin, an agricultural economics professor at the University of Illinois.

Chicken prices are among the first to rise because the bird's life span is so short that higher feed costs get factored in quickly, he said. Price hikes for hogs take about a year and cattle two years. Prices on packaged foods take six or seven months to rise.

Tyson Foods, the nation's biggest meat company, said chicken, beef and pork prices are expect to rise this year, if only slightly, as producers seek to cover costs.

ConAgra Foods Inc. — the Omaha-based producer of brands including Healthy Choice, Banquet and Chef Boyardee — is raising prices on some of its products because of higher costs for corn and fuel, said Teresa Paulsen, a spokeswoman.

The price rally has bolstered the financial fitness of America's crop and livestock operators over the past eight months. Midwestern cropland is yielding record values. Rural banks and equipment makers report record profits.

“We're seeing record income levels for the ag community and ... wealth accumulation that cannot be denied,” said Bruce Johnson, an agricultural economist at the University of Nebraska-Lincoln. “We've moved into a whole new level.”

Said Bruce Babcock, an agricultural economist at Iowa State University: “Farmers are going to be earning quite a bit more money.”

Jason Henderson, Omaha branch executive for the Federal Reserve Bank of Kansas City, said farmers are buying more tractors, pickup trucks, grain bins and land.

“And they also come to Omaha to shop and go to events,” he said.

But it hasn't been simply a spending spree, Henderson said. Farmers are paying down debt and fewer are seeking loan renewals or extensions.

“It's a good time to be an ag banker,” said Brian Esch, president of McCook National Bank in southwest Nebraska. “But I have concerns over what this means for consumers. If one guy is selling at a record profit, someone is buying at a record level.”

The only benefit: very soon farmers, least they produce something, will be making more than bankers. Which of course means that Wall Street will promptly vacate the skyscrapered corridors of the financial district and start pushing bales of straw for a living. Just as Marc Rogers has been predicting for over a year now.

The agricultural economies of Nebraska and Iowa will continue to grow into greater prominence as global food providers, economists said.

Johnson said rising population numbers globally and greater demand in major developing countries for higher-protein diets have strengthened the Midlands' agricultural market.

Farm cash receipts — led by corn and other crops — doubled in Nebraska from 2000 through 2010. Crop receipts alone ended the decade in the $9 billion range, up from a 2000 total of $3 billion.

Will Ben Bernanke's disastrous monetary policy be the greatest thing to happen to America's labor reallocation since Blythe Masters discovered CDS?

 

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Thu, 02/10/2011 - 10:47 | 949131 Alcoholic Nativ...
Alcoholic Native American's picture

EBT FTW

Thu, 02/10/2011 - 11:16 | 949221 financeguru500
financeguru500's picture

Just wait till China starts using their reserves to purchase U.S. agriculture. Get rdy for crazy prices. Interestingly, this just makes the situation worse for the U.S. trying to balance the budget with 44 million people on food stamps.

BTW, for any of you who like Hormel Chili. Kroger is doing a sale of buy 10 for 79cents each, then combine that with coupons from hormel.com to get each can for about 25 cents. Cant beat that hehe.

Thu, 02/10/2011 - 11:39 | 949339 KickIce
KickIce's picture

They've been buying everything they can get their hands on for months now.

Thu, 02/10/2011 - 12:00 | 949419 gangland
gangland's picture

went to buy iceberg lettuce at the local mom and pop market, usually it's 99c a head, yesterday it was $2.49 each.  16oz Yougurt prices up 30c in the past 2 weeks.  But no worries, uncle Bennie can stop inflation in 15 minutes. 100%.

Thu, 02/10/2011 - 12:11 | 949477 financeguru500
financeguru500's picture

Jeez. That is ridiculous to have to pay $2.49 for a head of lettuce. Considering the lack of nutrition from lettuce, I'll probably have to cut that food out of my diet lol.

Thu, 02/10/2011 - 13:32 | 949883 Hephasteus
Hephasteus's picture

No inflation it's just out of season. It'll probably be 1.50 next summer.

Thu, 02/10/2011 - 13:54 | 949964 pods
pods's picture

Actually lettuce is highly nutritional.  It just not high in calories.

pods

Thu, 02/10/2011 - 15:03 | 950268 Cathartes Aura
Cathartes Aura's picture

the "nutrition" in lettuce is in the dark green varietals - iceberg has the lowest level of nutrients, best to spend your green fiat on romaine. . .

http://nutrition.about.com/od/askyournutritionist/f/lettuce_info.htm

Thu, 02/10/2011 - 17:17 | 950810 DaveyJones
DaveyJones's picture

in general, the darker the color, any color, the more nutitious and with greens, that includes protein. If, I mean when, TSHTF, you can always eat dandellions and stinging nettles, both blow most greens out of the nutritional waters 

Thu, 02/10/2011 - 17:19 | 950825 ColonelCooper
ColonelCooper's picture

You hit save, and then editied didn't you?  Cause all I got was "the darker the color, any color, the more nutritious"

I was replying to ask if this held true with a woman's nether regions, when I saw your whole comment.

Thu, 02/10/2011 - 21:51 | 951778 DaveyJones
DaveyJones's picture

we see what we want to see (or what we don't see enough of) :/

Thu, 02/10/2011 - 12:17 | 949501 duo
duo's picture

Effects of the freeze in Fl two months ago, and a freeze in Northern Mexico last week.  Stock up on fresh veggies, there could be a real shortage for a couple of months.

Thu, 02/10/2011 - 11:48 | 949370 almost_have_a_name
almost_have_a_name's picture

I flew over a Hormel plant in Beloit Wisconsin in a J3, the fumes nearly killed the engine, and the two drivers. Just say no !

Thu, 02/10/2011 - 12:09 | 949471 financeguru500
financeguru500's picture

lol. I know the quality of those canned chilis is not that good. The only reason I pointed out the deal was for people who are needing to stock up a bit on some low priced canned food. Though with the amount of sodium in those canned foods you will probably suffer from a heart attack if you relied on them for sustanance.

Thu, 02/10/2011 - 12:14 | 949490 almost_have_a_name
almost_have_a_name's picture

Cheap vodka has been clinically proven to reduce sodium levels. You can buy it with the money you save on cheap food !

Time to buy corn syrup and stainless steel tubing.

 

Thu, 02/10/2011 - 14:07 | 950022 SilverRhino
SilverRhino's picture

Chili and pinto beans will go a long long way towards filling you up on protein.   The fumes on the other hand .... light a match and go boom in the outhouse.

Thu, 02/10/2011 - 12:04 | 949448 whatsinaname
whatsinaname's picture

DBA = 35

 

Thu, 02/10/2011 - 13:50 | 949952 minus dog
minus dog's picture

I picked up doxens of cans of that chili for 50 cents a can a week or two ago.   It's really not what it used to be... I can't believe the (non-food) stuff I found in a few cans of it.  I suppose it's better than nothing, though.

Thu, 02/10/2011 - 14:02 | 949995 pods
pods's picture

So do you heat it up before you throw it against the back of the toilet bowl, or just open it and do it?
Just kidding. I once admitted on a forum that I bought and ate Slim Jims on occasion. 

Most replies were about not feeding those to stray dogs.

pods

Thu, 02/10/2011 - 15:09 | 950293 Cathartes Aura
Cathartes Aura's picture

cheap canned "meat" products have degraded ingredients over time, particularly with the "meat". . .

"mechanically recovered meat" - aka pet food.

http://news.bbc.co.uk/2/hi/health/1482140.stm

Thu, 02/10/2011 - 13:57 | 949977 DosZap
DosZap's picture

No food deals with China.

We do swaps for RARE EARTHS, or you starve.

Those bstds just tightened up the regs, and rules, sales on the RE's, food is a great equalizer.

Thu, 02/10/2011 - 15:03 | 950269 ColonelCooper
ColonelCooper's picture

Agree 100%.  Never happen though, it just seems too darn mean.

Fri, 02/11/2011 - 21:21 | 954806 obg
obg's picture

Big changes in lifestyle coming to America.  Feeling fortunate to have stores put aside and preparing home and 'stead' to be self sufficient.  Good article keep up the good work. Try six free meals of gourmet dehydrated food.  SixFreeMeals.com

Thu, 02/10/2011 - 10:47 | 949133 SheepDog-One
SheepDog-One's picture

No worries, the ChairSatan assures us HE sees no inflation, so obviously there is none. Party on Fraudmerica.

Thu, 02/10/2011 - 11:15 | 949227 sushi
sushi's picture

Any truth to the rumour they are going to recast all US government financials in the form of bushels?

QEIII will not be stated as 8.5 billion dollars per day but as 122 bushels of dollars. The actual denomination is not specified.

Thu, 02/10/2011 - 11:33 | 949314 SheepDog-One
SheepDog-One's picture

Or wheelbarrows of POMO per day, who knows?

Thu, 02/10/2011 - 10:51 | 949141 Cognitive Dissonance
Cognitive Dissonance's picture

Progresso soup on sale 2 for 1 at my local grocery store. Time to stock up (again) before a can of chicken noodle moves above $2.00.

Oops, too late!

Thu, 02/10/2011 - 10:52 | 949144 Alcoholic Nativ...
Alcoholic Native American's picture

Soup kitchens are going out of business nationwide!

Thu, 02/10/2011 - 10:58 | 949167 jus_lite_reading
jus_lite_reading's picture

2 for 1 specials at $4.50/can. WOW 2 for 1!... Wait, that's 15% above the normal price.

Thu, 02/10/2011 - 11:04 | 949191 Cognitive Dissonance
Cognitive Dissonance's picture

Actually where I shop it's $1.89 per can. You must be using Benbabwe dollars.

 

Thu, 02/10/2011 - 11:17 | 949238 sushi
sushi's picture

He is smiling because he just collected all that loot from selling a 1/4 can of soup which he gets to deliver next Thursday.

Thu, 02/10/2011 - 13:01 | 949733 DosZap
DosZap's picture

Nah, he's smiling because his little ragged ass is gonna make a killing on eGay!

Thu, 02/10/2011 - 11:21 | 949253 downrodeo
downrodeo's picture

http://www.dailymotion.com/video/x2oiu4_big-tymers-feat-lil-wayne-juvenile_music

 

that's some serious cash... oh wait, those zeros don't mean anything

the kids know what the guys on wall street can't seem to grasp: it is worthless paper, it is an empty concept, but it's just fun to hold a big pile of it.

Thu, 02/10/2011 - 11:21 | 949257 jus_lite_reading
Thu, 02/10/2011 - 11:47 | 949357 alien-IQ
alien-IQ's picture

my hedge on this "news" is to go long SWHC and RGR :-)

Thu, 02/10/2011 - 12:23 | 949538 jus_lite_reading
jus_lite_reading's picture

CD- Get your soup at $1.89 while you can- my soup is $6 per can!

Thu, 02/10/2011 - 15:07 | 950282 ColonelCooper
ColonelCooper's picture

Doesn't anybody know how much soup you can make and can yourself for $10.00?  My canner stays on the stove damn near full time in the winter.  Make a pot of soup, eat supper, pour the rest in pint jars and turn on the burner for an hour.  Done.  And it's a helluva lot better than the shit you get in the store.

 

EDIT***  Sorry, I should have read one post further down before I jumped in.

Thu, 02/10/2011 - 11:00 | 949178 Lizabth
Lizabth's picture

Can your own homemade soup. Easy and cheap(comparatively).

Thu, 02/10/2011 - 12:35 | 949586 benb
benb's picture

Yes. And if you care about yourself and your family use organic or at least non-GMO ingredients. It’s still much more economical than canned Frankenfoods.

Thu, 02/10/2011 - 12:52 | 949680 almost_have_a_name
almost_have_a_name's picture

All you need is a hatchet, tree-stump, two nails and a willing chicken.

------------ | < hatchet (qty 1)
| | |
| | |
----- V

/ \ < nails (qty 2)
/{..}\ < chicken (qty 1)
/ v \
---------------- < tree stump (qty 1)
| |
| |
| |
| |
----------------

Thu, 02/10/2011 - 13:31 | 949881 tewkatz
tewkatz's picture

Cut a hole in a corner of a burlap feedsack and put the head through that then hang the bag...bruises the meat less.

If people REALLY prepared their own meat...we'd better appreciate the low-low prices we've been paying for years for convenient plastic-wrapped, pre-sliced, skinless/boneless chicken.  Just burning off the pinfeathers is enough to make me retch.

Dude!  Are you really going to cut the head off that chicken???  Yes. I am hungry.

Most Americans have absolutely no clue how good our lives are...

Thu, 02/10/2011 - 13:39 | 949911 jus_lite_reading
jus_lite_reading's picture

I thought chicken came from the sea...

Thu, 02/10/2011 - 11:02 | 949185 Sudden Debt
Sudden Debt's picture

YOU EAT SOUP FROM A CAN??!!

 

HAHAHAHAHAHAH!!!

Thu, 02/10/2011 - 11:12 | 949218 Cognitive Dissonance
Cognitive Dissonance's picture

No soup for you!

 

Thu, 02/10/2011 - 13:58 | 949983 DosZap
DosZap's picture

Cog, What chain??

Thu, 02/10/2011 - 14:24 | 950098 Cognitive Dissonance
Cognitive Dissonance's picture

If I tell you then in effect I'm telling you where I live since it is a very small local store chain. And I wish to avoid disclosing my Cheney like secure location. :>)

However I'm sure the CIA/NSA/DIA (and the Egyptian secret service) know exactly where I live. :>(

Thu, 02/10/2011 - 17:58 | 951006 RockyRacoon
RockyRacoon's picture

Yep.  No reason to feed the beast by giving exact coordinates.

Thu, 02/10/2011 - 10:52 | 949142 topcallingtroll
topcallingtroll's picture

So would consumers be less harmed by tight money right now? Would the unemployment rate be better and the unemployed suffer less if there were no qe and we got a bout of deflation instead? Maybe td you could do an article on what you would do right now if you were elected chairsatan.

Thu, 02/10/2011 - 10:56 | 949153 jus_lite_reading
jus_lite_reading's picture

Press the reset button...

Thu, 02/10/2011 - 11:26 | 949278 kridkrid
kridkrid's picture

AKA WWIII.  If there is anything left of us in 100 years, I'll be curious what historians reference as the start of WWIII.  I think you could make a case for going back to the first Gulf War... though I'm guessing 9/11 / Afghanistan / Iraq would be the easier call.  Of course it all depends on who wins the war, I suppose.

Thu, 02/10/2011 - 12:26 | 949547 jus_lite_reading
jus_lite_reading's picture

For the past few months I have been pondering the outcome of the whole world. I have concluded that "pushing the reset button" might be easier than allowing things to deteriorate into total chaos. There are only two outcomes. Pick one.

Thu, 02/10/2011 - 13:04 | 949746 DosZap
DosZap's picture

My money is the ME Arabs/Persians attack Israel.

Thu, 02/10/2011 - 15:18 | 950325 Cathartes Aura
Cathartes Aura's picture

as a self-confessed Zionist DosZ, by "my money" do you have an investment in Israel?

Thu, 02/10/2011 - 14:44 | 950189 tamboo
tamboo's picture

roth$child$/$ynagogue of $atan win every war.

http://www.iamthewitness.com/

Thu, 02/10/2011 - 11:34 | 949319 Boxed Merlot
Boxed Merlot's picture

Ultimately, congress and the electorate is responsible...

Yes, press the reset button.

 

Congress can stop this madness very easily and immediately without revolution, mayhem or breaking any laws.

They can authorize our mints to immediately start striking and circulating intrinsically valuable coinage made from any / all precious metals available and have the executive instruct the treasury to begin issuing US notes fully redeemable in said currency.

 

I personally could care less about auditing the fed.  To me, it's like cutting open a tumor to see what's in it.  If someone wants to dissect the sucker after the fact, that's fine.  Conduct a post mortem.  The critical thing is to stop the flow of nutrients to it NOW!

Thu, 02/10/2011 - 11:40 | 949342 sushi
sushi's picture

circulating intrinsically valuable coinage

What about Bernanke Bucks?

Take the Chairstain, render him as molecules, add some cement, run it through rollers and then a punch press and you would free up a lot of valuable copper, tin, and zinc.

Thu, 02/10/2011 - 12:29 | 949560 jus_lite_reading
jus_lite_reading's picture

It's quite unfortunate that "auditing the Fed" is tantamount to sparking WWIII. It would expose everything to the whole world. Forget Atlantis- the real secrets are hidden deep within the empty vaults of FtKnox and the files downtown.

Thu, 02/10/2011 - 13:07 | 949764 DosZap
DosZap's picture

Do you actually believe in yo heart o hearts, the American people, (much less the world) would get access to the findings.

Thats a real optimistic take on it.

Thu, 02/10/2011 - 10:56 | 949157 LawsofPhysics
LawsofPhysics's picture

There is nothing Uncle Ben can do.  Ultimately, congress and the electorate is responsible.  Rates should have been ticking up in line with any stimulus in any form (cash for clunkers, QE, tax breaks, etc.)  There is a REAL cost for creating capital.  A lesson we are all about to re-learn.

Thu, 02/10/2011 - 11:11 | 949215 kridkrid
kridkrid's picture

There is nothing that can be done.  Deflationary depression or inflationary depression... this can has been kicked down the road so many times that it doesn't really make a lot of difference at this point.  What is going to suck about this inflationary depression... we'll still get deflation in the things we own... while getting inflation in the things we need (for some period of time, until it all collapses). 

Thu, 02/10/2011 - 12:18 | 949513 tmosley
tmosley's picture

This is where hyperinflation usually comes from.  Governments are FORCED to print to ensure that people don't starve to death.  This destroys most or all of the capital in a given nation very quickly.  We already have very little left.

Thu, 02/10/2011 - 12:45 | 949620 topcallingtroll
topcallingtroll's picture

Dp

Thu, 02/10/2011 - 12:43 | 949632 topcallingtroll
topcallingtroll's picture

Then cash would be king and pm's would.go down with tight money. You pm boyz actually need qe to continue to infinity if you want pm's to reign supreme and the fed ended. It takes an inflationary collapse to repudiate fiat. Tight money and deflation make fiat more valuable. That is the only way to end the fed. Loose money to infinity. Support the bernank all you pm boyz! If you know what is best for your pm portfolio!

Thu, 02/10/2011 - 13:35 | 949896 DosZap
DosZap's picture

Not hardly, PM's would go exponential in a Hyperinflationary event.

Thu, 02/10/2011 - 10:52 | 949145 Cash_is_Trash
Cash_is_Trash's picture

Hungry trillionairezzz on Wall Street

Thu, 02/10/2011 - 10:54 | 949146 LawsofPhysics
LawsofPhysics's picture

Nothing new here.  I see folks bartering already.  Shadow banking for wall street and black markets for everyone else.

Glad I sold that gold 4 months ago and bought that farm land.  People renting plots already for gardens.  Get your peasants lined up now and hedge accordingly.

 

Thu, 02/10/2011 - 11:08 | 949201 DaveyJones
DaveyJones's picture

I am organizing a community (permaculture) garden on a 100 by 75 yard open space in my development.  In the last few months, I have been surprised by the number of people who have approached. When I ask them why, they say stuff about organic food and then usually add something like, "and, just in case."     

Thu, 02/10/2011 - 12:51 | 949672 topcallingtroll
topcallingtroll's picture

Gardening is fun. Get a patio tom variety of tomato and grow it in a pot of well drained but water absorbing soil. Five hours of sunlight and shield the base from heat and mulch it. You can practice small gardening with an apartment. What you learn will help you do a real garden someday, plus why have ornamentals? A patio tom and a sport pepper plant are great ornamentals and you are 2/3 the way to pico de gallo.

Thu, 02/10/2011 - 18:02 | 951031 RockyRacoon
RockyRacoon's picture

I have a friend who plants tomatoes of assorted varieties in a bale of straw.   He waters every day and adds plenty of Miracle Grow tomato food since straw is pretty sterile.   He grows the biggest and best goddam maters I've ever seen.   He lets them trail around on the deck and they look wonderful.   At the end of the season he just sets the old bale out on the curb for trash day.   You gotta be able to keep them moist since the straw will dry out fast. 

Thu, 02/10/2011 - 21:55 | 951784 DaveyJones
DaveyJones's picture

layer or lasagna (sp?) gardening is the way to go. It mimics nature, conserves water, minimizes fertilizer and breaks down to great soil

Thu, 02/10/2011 - 10:54 | 949150 jus_lite_reading
jus_lite_reading's picture

This answers the question to what the "new normal" will be:

*sky high food price

*global riots/social unrest

*record bonuses for bankers/Wall Street scum

*lower "offi-shill" gubmint unemployment figures, while rising real unemployment figures

*record amounts of people on food stamp programs

*declining home values

*inflationary pressures cause cost of living to increase beyond means

*more corruption, greed and every vile thing you can imagine

This is the new normal. Just what everyone wanted.

Thu, 02/10/2011 - 10:57 | 949161 Alcoholic Nativ...
Alcoholic Native American's picture

well at least you don't have to pay your mortgages anymore

 

wait, did they fix that yet?  Is there some kind of number you can call?

Thu, 02/10/2011 - 12:30 | 949566 jus_lite_reading
jus_lite_reading's picture

That will come soon...

Thu, 02/10/2011 - 10:57 | 949163 Cash_is_Trash
Cash_is_Trash's picture

*more corruption, greed and every vile thing you can imagine

According to Mr. Gordon Gekko, 'Greed is Good', not something vile.

Competition is good but not when the U.S. Government competes against its constituents to debase the currency and cover banker losses.

 

Thu, 02/10/2011 - 15:44 | 950427 CrockettAlmanac.com
CrockettAlmanac.com's picture

So-called greed and selfishness are good (in that they lead one to be more economically active) when pursued by individuals as individuals. When some individuals use the power of the government to satisfy their own desires at the expense of the citizens then you have a problem.

Thu, 02/10/2011 - 11:10 | 949211 DaveyJones
DaveyJones's picture

forgot Monsanto awarded new patents on genetically modified food while three more former executives are placed within the FDA 

Thu, 02/10/2011 - 12:02 | 949434 Cash_is_Trash
Cash_is_Trash's picture

Thanks Davey, I completely missed that swift and healthy push towards fascism.

Thu, 02/10/2011 - 12:15 | 949497 DaveyJones
DaveyJones's picture

hey, but the infertility will keep the population down

Thu, 02/10/2011 - 12:45 | 949636 benb
benb's picture

Yes. When talking about food shortages/price increases you have to also look at how food is being altered or weaponized- All part of the same program.

 

Thu, 02/10/2011 - 15:33 | 950387 Cathartes Aura
Cathartes Aura's picture

++ for using "weaponized" when referencing GMO-fud. . .

USDA partially deregulating biotech sugar beets

KANSAS CITY/WASHINGTON, Feb 4 (Reuters) – U.S. agricultural regulators on Friday said despite a court ban, they would allow commercial planting of genetically modified sugar beets under closely controlled conditions while they complete a full environmental impact statement. The move marks the second-such boost by the United States for contested biotech crops in a week, and underscores U.S. determination to expand the use of GMO crops amid rising global fears over food security and surging prices. After approving genetically altered alfalfa last week in the face of bitter protest and after court rulings against an earlier sugar beet approval, the U.S. Department of Agriculture said it would allow Monsanto Co’s (MON.N) “Roundup Ready” sugar beets back in the fields this spring

http://farmwars.info/

Thu, 02/10/2011 - 17:31 | 950869 DaveyJones
DaveyJones's picture

Thanks for the post. I've been trying to decide which issue scares the crap out of me more, Peak Oil or GMO food. HOw many acres are growing this shit? How many crops can get infected? Other than infertility, blindness, and cancer, what are the risks, how many studies have we done on this?  

As the evil concentrates, its effect blossoms.   

Thu, 02/10/2011 - 12:09 | 949472 jus_lite_reading
jus_lite_reading's picture

This falls into the "greed corruption vile thing" category

Thu, 02/10/2011 - 12:48 | 949656 KickIce
KickIce's picture

Certainly some of the scariest stuff out there.

Also forgot the HC bill which affectively allows them to play God.

Sen Rangel on passage of the bill...  "It took us a long time to control the people."

Thu, 02/10/2011 - 10:56 | 949152 lieutenantjohnchard
lieutenantjohnchard's picture

as mentioned yesterday i'm guilty as charged. all 3 freezers are full of staples. so i guess i'm partly responsible for pulling demand forward. tell ya what though. the pictures of those starving children "over there" is a killer. there was one i saw this week of a child hunched over looking for crums, emaciated, with a buzzard in the background.

Thu, 02/10/2011 - 10:57 | 949164 anony
anony's picture

..and I'll bet his mother is pregnant or soon going to be once again.

These breeders don't have the sense of animals.

Thu, 02/10/2011 - 11:56 | 949401 Dyler Turden II Esq
Dyler Turden II Esq's picture

Gol darn horny negros! Why can't they just keep their pants on?  Time to stop feedin' 'em.

Thu, 02/10/2011 - 15:53 | 950463 CrockettAlmanac.com
CrockettAlmanac.com's picture

..and I'll bet his mother is pregnant or soon going to be once again. These breeders don't have the sense of animals.


Let's all imagine bad things about people we've never met and have a good laugh. What fun we'll have!

Thu, 02/10/2011 - 15:55 | 950479 CrockettAlmanac.com
CrockettAlmanac.com's picture

..and I'll bet his mother is pregnant or soon going to be once again. These breeders don't have the sense of animals.


Let's all imagine bad things about people we've never met and have a good laugh. What fun we'll have!

Thu, 02/10/2011 - 11:00 | 949170 LawsofPhysics
LawsofPhysics's picture

Nature makes no promises regarding our survival.  Look around, there are obese kids sitting next to malnourished kids in our own public schools.  Time for people to look inward and educate their own communities about the laws of Nature and physics, despite the financial sector's blatant disregard for reality.

Thu, 02/10/2011 - 11:45 | 949198 hedgeless_horseman
hedgeless_horseman's picture

moved

Thu, 02/10/2011 - 11:15 | 949230 lieutenantjohnchard
lieutenantjohnchard's picture

nevertheless, the graphic pictures are painful, at least to this viewer. soft heart at the end of the day.

Thu, 02/10/2011 - 11:48 | 949366 Dyler Turden II Esq
Dyler Turden II Esq's picture

Obese kids ARE malnourished kids.

Overfed and undernourished.

Thu, 02/10/2011 - 13:30 | 949874 DosZap
DosZap's picture

A HUGE factor overlooked at Obesity in this country is the fact that the diets of our (55+ yr old folks), were far healthier than todays.

What is the least expensive things you can feed your kids, or yourself?.

Junk food.

A normal healthy diet with tons of veggies, and fruits, cost you a frigging fortune.(what was nearly free when growing up, now is the most expensive).

Obesity in kids is largely feeding them cheaper,fat packed foods(cheapest possible) and not kicking their ass in the yard to go burn off some calories.

When I was a kid, we spent every hour weather permitting outside playing, and the less time inside the better.

Now, the opposite.

Thu, 02/10/2011 - 15:15 | 950317 Audible
Audible's picture

It's actually kind of pathetic how much kids stay indoors these days. I coach a U-14 soccer team and every once in a while we get the short straw and have to play on a field covered in goose poop. Yeah not ideal, but the kids are terrified of it. Won't touch it. Man, When I was a kid we would have had goose turd wars if given the opportunity. There is too much fear mongering about keeping your child safe, and how being outside is a threat. It's all BS.

Also 55+ for real? Ugh I feel like an old 24 year old, because I grew up the way your 55 year olds did.

Thu, 02/10/2011 - 12:56 | 949697 topcallingtroll
topcallingtroll's picture

Nope. That is a picture of a child trying to get to a feeding station. He later died and the photographer commited suicide. Classic african famine porn.

Thu, 02/10/2011 - 10:59 | 949156 anony
anony's picture

How can this headline be accurate?

Get ready???  Then why have i been paying steadily rising prices for every food staple from the Hershey's kisses to the lowliest whole wheat pita bread? (of course I've more than made up for it by steadily strading cotton, rice, soy beans, and other commodities. From the looks of the the prices for those staples, I'm well above covering my increased costs by entering into futures trades that have steadily been in the state of contango for nearly a year.

Jeesus, man, how can you get ready for what we've already been going thru for the last two years??? And will likely continue to, unless you start to grow your own, brew your own and bake your own? 

If the masses are to get ready for anything it might be opening up a futures account and going long futures in what they eat, drink, snack on, and wear.

Thu, 02/10/2011 - 11:01 | 949180 Vashta Nerada
Vashta Nerada's picture

Exactly. My grocery bill has gone up 25% in the past 9 months already.

Thu, 02/10/2011 - 11:26 | 949281 downrodeo
downrodeo's picture

You caught the headline but you missed the second line:

While nothing new to Zero Hedge readers, the realization that everyone's purchasing power is about to be yanked from underneath them has gone mainstream.

Tyler's got you covered..

Thu, 02/10/2011 - 10:57 | 949159 RemiG2010
RemiG2010's picture

 

Hey! I am obscenely rich! I can afford it! Let the poor eat cake!

 

Thu, 02/10/2011 - 12:18 | 949512 DaveyJones
DaveyJones's picture

the good news is after hyperinflation removes their wealth, they'll still be obscene

Thu, 02/10/2011 - 12:58 | 949721 topcallingtroll
topcallingtroll's picture

Trolls are supposed to register before posting. There will be a $50 fine for unlicensed trolling.

Thu, 02/10/2011 - 13:18 | 949814 RemiG2010
RemiG2010's picture

Don't blame me, blame Bernank!

Thu, 02/10/2011 - 10:58 | 949166 umop episdn
umop episdn's picture

Anyone who shops knows that prices are *already* on the way up, up, UP! All hail the Chairsatan Rudolf Vissarionovich von Bernankestein! Of course, the 'media' is just now finally reporting on this, since denying it might destroy their credibility even among the easily-fooled sheeple.

Thu, 02/10/2011 - 10:58 | 949168 Matt SF
Matt SF's picture

Just waiting for the new U.S. Farmland ETF to hit the market sometime in 2011.

Thu, 02/10/2011 - 11:02 | 949184 LawsofPhysics
LawsofPhysics's picture

I sold gold in November and bought 40 acres of farmland.  Already have people lining up for "production plots".  I was waiting for someone to bring this up.

Thu, 02/10/2011 - 11:09 | 949203 RemiG2010
RemiG2010's picture

Owning 49,2 acres (20ha)! Haven't been doing with it anything for years.  What shall we produce?

Thu, 02/10/2011 - 11:15 | 949226 LawsofPhysics
LawsofPhysics's picture

Have your soil tested and talk to your local farmer's co-op.  If your soil and water source (I have a well and several run-off collection tanks) can support "money" crops you are just one lawyer away from selling shares in a value-added company to support your local economy.  A co-op gets around a lot of labor laws if people are willing to farm their own share for personal consumption (shares must be renewed every year) and everyone can sell their produce at your local farmer's market.

Thu, 02/10/2011 - 11:31 | 949294 RemiG2010
RemiG2010's picture

 

Nah. Will stick to trading and IT business. Too much efforts. Planning to plant trees all over in the future. Let say, such a long term investment.

 

Thu, 02/10/2011 - 11:57 | 949410 Sudden Debt
Sudden Debt's picture

What about building a big greenhouse with tinted windows and installing a 40 acre weed plantation in it?

 

and with the profits, you should be able to DOWNPAY IT IN 12 MONTHS!!

 

FORGET TALKING TO YOU LOCAL FARMER! TALK TO YOUR LOCAL DEALER I SAY!!

 

Thu, 02/10/2011 - 12:05 | 949456 RemiG2010
RemiG2010's picture

 

If the EP legalizes the crop, will think about it, but first I’d have to do due diligence of the market. Never the less, thanks for good  advice.

 

Thu, 02/10/2011 - 12:06 | 949457 Cash_is_Trash
Cash_is_Trash's picture

I've heard that the juiciest profits are from selling cocaine.

What if your weed plantation becomes invested with parasites? Have you diversified your portfolio into coca?

Thu, 02/10/2011 - 12:30 | 949561 RemiG2010
RemiG2010's picture

 

 

 

The 'coke' is so passé. Ask Kudlow about that! He’ll tell you. Nowadays best addicts can be found at AAPL stores!  

I am myself addicted to technology and information flow. Usually work 16 h/d, plus Saturday so I know something about that. Some day technology gonna kill us all, but before that the SPLASH CRASH will wipe out our brokerage accounts! ;)

 

 

 

http://3.bp.blogspot.com/_XJseql2u5l0/SQOFmvJLHdI/AAAAAAAADFI/K5sVPSRqJJ...

Thu, 02/10/2011 - 13:37 | 949906 DosZap
DosZap's picture

Waited too long to plant trees bud.

Thu, 02/10/2011 - 14:13 | 950045 topcallingtroll
topcallingtroll's picture

I can still find a better roe on canadian energy trusts and no work. Show us the numbers otherwise i believe your return is less than three percent.

Thu, 02/10/2011 - 15:48 | 950446 Cathartes Aura
Cathartes Aura's picture

community supported agriculture (CSA groups) are a great way to get folk involved in their own food supply - trades of various crops grown, information & tips, co-operative buying of larger grain stores, etc. - better to have people learning how to support each other, than wait for the "competition" for dwindling food resources further down the dirt road. . .

Thu, 02/10/2011 - 22:03 | 951801 DaveyJones
DaveyJones's picture

the most brilliant local CSA concept I have seen was started by a young woman who lived in the SF bay area. She started a local site that simply coordinated locals who had fruit trees on their property to trade their fruit. She got volunteers to coordinate gathering from each participant and for no additional money the participant shared and traded fifty different kinds of fruit with a maturing time that spread over much of the year. Most CSAs are based on a central local farmsite. The idea of getting homegrowers to coordinate trade and barter is fantastic.    

Thu, 02/10/2011 - 11:00 | 949173 DaveyJones
DaveyJones's picture

don't think of it as soaring food prices, consider it the new fad diet. 

Thu, 02/10/2011 - 11:25 | 949174 TruthInSunshine
TruthInSunshine's picture

Bernanke has released a statement proclaiming that The Federal Reserve shares such concerns, but that Alpo is still, in the ChairCreature's own words, "affordable."

As an aside, I wouldn't mind paying more for food, as long as it's healthy, AND the profits go to those who toil to produce it WITHOUT SUBSIDIES (and aren't garnered by some middle-men shysters), rather than see ANY ADDITIONAL wealth (or any wealth, for that matter) be transferred to that planter and harvester of useless, inedible, and ultimately, devastating crops that are 'financial products.'

Thu, 02/10/2011 - 13:41 | 949920 DosZap
DosZap's picture

Or, stop subsidizing farmers for NOT planting,Or, fining them if they WANT to.

Right now we should be planting ever available acre, all of it.

Using corn for fuel is the most asinine thing ever conceived by man, besides the Fed.

Thu, 02/10/2011 - 11:00 | 949177 nevadan
nevadan's picture

"Just as Marc Rogers has been predicting for over a year now."

Marc Faber?  Jim Rogers?

Thu, 02/10/2011 - 11:10 | 949213 PY-129-20
PY-129-20's picture

Yup, happened overnight, two heads, one body - you would love it. Master Bernankenstein put them together.

Thu, 02/10/2011 - 11:01 | 949179 sushi
sushi's picture

Shoppers could see higher grocery bills as early as three months from now

I knew I was living in the future. My wallet confirms it.

Thu, 02/10/2011 - 13:47 | 949939 DosZap
DosZap's picture

I have been snagging 25#'s of rice and beans every time I hit Costco, toilet paper, and hand towels.Cases of vegetables.

Way more than I would ever need.

Why?, because I know my kids cant, and or wont.

And some less fortunate neighbors just may need a hand.

Buy the staples that will keep you alive, the least expensively, this Second, rice n beans.'Soon to come to a screeching halt.

Thu, 02/10/2011 - 11:03 | 949186 mark mchugh
mark mchugh's picture

This is the only result you can ever expect when trying to inflate assets that underperform inflation.

If you strip out the interest rate effect of the last thirty years, houses have underperformed overall inflation by 60%.  Face it, the only area Bernanke wants price stability is in houses.  Of course, the real price of rescuing housing is starving billions.

Small price to pay, right?

 

Thu, 02/10/2011 - 11:03 | 949187 lsbumblebee
lsbumblebee's picture

"My friends at Monsanto they take care of everything."

- Baron Von Chairstain

http://www.organicconsumers.org/articles/article_22499.cfm

Thu, 02/10/2011 - 12:48 | 949657 DaveyJones
DaveyJones's picture

hadn't seen that one, thanks

Thu, 02/10/2011 - 11:03 | 949188 nontaxpayer
nontaxpayer's picture

Fine with me, I just love Heinz Creamy Tomato Soup and could eat it every day.

Thu, 02/10/2011 - 11:47 | 949225 born2bmild
born2bmild's picture

This goes great with stopping energy assistance for the poor which is also new.

http://www.nationaljournal.com/whitehouse/exclusive-obama-to-cut-energy-...

Oh, there are real solutions for both of these problems but we'd better not pursue them.

Just 3 examples. Passive solar heat: http://www.youtube.com/watch?v=DusWlsJtVfE

Coolerado: http://www.youtube.com/watch?v=iDdhcYiLS54

The greenhouse fish video (again): http://www.youtube.com/watch?v=9qZPwBPAqks

We wouldn't want to create meaningful, productive jobs instead... Can you hear me yelling from the kitchen window?

Thu, 02/10/2011 - 11:56 | 949406 GreenSideUp
GreenSideUp's picture

Wait, what?  I thought obummer was gonna pay for everything.

http://www.youtube.com/watch?v=P36x8rTb3jI

Thu, 02/10/2011 - 12:30 | 949536 born2bmild
born2bmild's picture

Well, at least the US won't be able to afford to pay for the security that will be required to hold the lid on social unrest we're creating. The enlisted folks in the military are the poor among us and the main victims of rising food/energy nightmares. Oh, this must be the kind of change he was talking about.

Thu, 02/10/2011 - 15:18 | 950330 Audible
Audible's picture

Have any additional information on Aquaponics? I have recently become infinitely fascinated by it.

Thu, 02/10/2011 - 16:02 | 950497 born2bmild
born2bmild's picture

I don't know where you are but if you are near Milwaukee I would just go to the source - Growing Power. I hear it's catching on in Australia. I don't think you would need to heat it at all even in cold climes, passive solar, growing food in decomosing compost and www.citrusinthesnow.com. Everyone could do this, I thought it would be cool to grab a free hot-tub on craigslist and drag it home. 1 gallon / fish. Perch and catfish (which would clean the water also) seem pretty easy, bass would be too but they aren't vegetarians...Most other edible, domestic to US species are not still water fish. Let us know how it goes, there will be a lot less food theft in the future if we share this kind of info. Oh yeah, raccoon proof it, hardware cloth, something exterior grade.

Thu, 02/10/2011 - 19:17 | 951291 RockyRacoon
RockyRacoon's picture

Let's not go too far on the varmint proofing.  I'm buying some wire snips.

Love fish...  especially yours.

Thu, 02/10/2011 - 11:05 | 949193 MrVincent
MrVincent's picture

Stock up on pitchforks. You will make a killing selling them in Washington someday.

Thu, 02/10/2011 - 11:15 | 949228 assumptionblindness
assumptionblindness's picture

No kidding.  Don't forget to add torches, cotton rags and glass bottles too.

Thu, 02/10/2011 - 11:06 | 949194 ZippyBananaPants
ZippyBananaPants's picture

Buddy of mine has a restaurant, he said cheese has gone up $0.10 per pound every week for the last 5 weeks.

 

 

Thu, 02/10/2011 - 11:09 | 949206 TruthInSunshine
TruthInSunshine's picture

A cousin of mine is high up in the chain (food chain?) at the HQ of a national pizza company and told me the wheat flour used to make pizzas has approached its all-time highs (last seen in 2007) again...now at $23 per unit/bag.

Thu, 02/10/2011 - 11:22 | 949256 dark pools of soros
dark pools of soros's picture

so Mookie still can't get a bite of pizza for a quarter...  how about a bite for $5?

Thu, 02/10/2011 - 11:08 | 949204 gwar5
gwar5's picture

I'm stocked. Told friends to get prepared. Some listen, some don't.

Thanksgiving was a great time, Stores were practically giving food away.

 

 

Thu, 02/10/2011 - 11:21 | 949254 cartonero
cartonero's picture

Went to Walmart yesterday.  The holiday baking goods (pie shells, cake mixes, etc.) are "on clearance" at higher prices than they were in Nov./Dec.!!!

Thu, 02/10/2011 - 11:36 | 949332 Fearless Rick
Fearless Rick's picture

Couple of thoughts:

A nice 6-pound chicken goes for about $4 right now. If that goes to $6 in a year, sure it's a 50% hike but only $2. Now, cook that chicken with some cut carrots ($1), potatoes ($1) and onions ($25) and I can eat for about a four days between the chicken and veggies, plus the soup I'll make from the left over chicken and veggies, plus some... wait for it... water, adding in the chicken's own juices for a tasty broth, I could probably go a week. Or a family of four eats like kings for $6. So, this food "crisis" is no big deal. Most people could increase their food consumption cost by 50% and feel almost no pinch.

Second, higher food prices will be partially offset by the growing numbers of people growing their own and community gardens. So, the high cost? Maybe? If people really get wise, supermarkets will be throwing out unsold produce due to slack demand. Meat - a little more difficult to raise on your own, will rise the most, but it still won't be killer for most Americans. Those on SNAP will get more from the govt., no doubt, so scratch that argument. And when gas comes down to $2.00 a gallon, America will be on easy street again. Of course, most of the developing countries will be in flames, but here in the USA, no worries!

Except that we'll have to switch from hating bankers and oilmen to hating farmers.

Thu, 02/10/2011 - 13:13 | 949784 TruthInSunshine
TruthInSunshine's picture

Plastic rice will stretch that chicken entree value even further.

Thu, 02/10/2011 - 13:30 | 949876 sushi
sushi's picture

Add a plastic chicken and you can store it for 50 years or, if need be, use it to reshingle your roof, or even drive a sump pump.

Thu, 02/10/2011 - 14:08 | 950028 topcallingtroll
topcallingtroll's picture

I partially agree. If you cook from scratch it is ridiculously cheap.

Thu, 02/10/2011 - 16:15 | 950563 born2bmild
born2bmild's picture

It can be even cheaper than what you think of as from scratch (remember, many folks are broke as). A few crucial tips in here but I can only imagine the book is better.

Possum living documentary: http://www.youtube.com/watch?v=mvn79E40VSc

I'm going to the asian fish markets in my neighborhood to stock the local park ponds with bass and catfish. I caught the biggest bass of my life in a Florida golf course pond.

Thu, 02/10/2011 - 22:07 | 951817 DaveyJones
DaveyJones's picture

great story

Thu, 02/10/2011 - 11:17 | 949236 gookempucky
gookempucky's picture

AJ military has confirmed all demands from protesters will be met-looks like the military is about to throw these guys out on their elbows.

Thu, 02/10/2011 - 11:17 | 949237 Quinvarius
Quinvarius's picture

The true historical US business cycle of Wall Street predating on the US farmer is about to go into credit mode.

Thu, 02/10/2011 - 11:22 | 949259 -Michelle-
-Michelle-'s picture

I am still amazed at the evolution in buying that's occurred in our own household.  This started years ago; it's nothing new.  If you're in charge of your family's grocery budget, you've seen prices rising for quite some time now.

I canceled our Sunday-only newspaper subscription this week.  I used to get it just for the coupons, but useful coupons are rare now.  You used to be able to do nice match-ups between coupons and sales at the stores; now it seems like the stores don't put an item on sale until all of the printed coupons for that item are expired.  Internet printable coupons max out the day they're released or soon after.

My weekly shopping trips now consist of scanning the sales ad to see which cuts of meat are cheapest and building a weekly menu around two of those.  The rest of my budget is for fresh produce and dairy and everything leftover goes to building up more supplies in the storeroom.

I spent my kids' outside play time yesterday getting my little garden ready for planting and putting together a trashcan potato planter. 

I feel bad for people who think cooking means opening up a package and heating it up.  That way of eating is going to get very expensive very soon.  I expect JAH to go up as more people rediscover Crock Pots.

Thu, 02/10/2011 - 11:41 | 949349 Lizabth
Lizabth's picture

You betcha. Buy raw ingredients and go from there.

At Aldi, while waiting in line for check-out, I always scan my cart for anything I can do without. Those little impulses that one throws in the cart for ease.

As a house-frau, THIS is my job: stretching hubby's hard-earned dollars as far as possible. Consequently, I bake my own bread, can my soups and stews, tend our little orchard and feed our chickens from the 'scrap' bucket.

We're in the middle of 'corn' country, and I can assure you, our farming neighbors are not being so frugal.

Times here for the land-rich are extremely good. One neighbor farms thousands of acres, and got almost half a mil in subsidy from Uncle Sam last year. There is so much $$ floating around here, it's practically obscene.

BUT, given the climate outside of the ag industry, there is a feeling of tenseness, in spite of the wealth and comfort.

How long will it last? Will their land be taken in a 'national emergency' if hunger reaches too many? If the ethanol susbsidy goes away next year, will there be a market for all this corn? If a trade war comes to shore up our manufacturing industries, how will that affect our crops going overseas?

So, lots of wealth, lots of new farm equiptment and trucks, but a lingering underlying stench of fear and trembling for the future.

An aside: last autumn, the big job going on out here was the clearing of roadside tree stands and shrub growth. They want to plant every row possible. It looks very plain and utilitarian out here, now.

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