Time To Celebrate The Recovery: Food Stamp Usage Hits Fresh Record

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Tue, 05/31/2011 - 10:14 | 1325153 Ancona
Ancona's picture

No soup for you....One Year!

Tue, 05/31/2011 - 10:18 | 1325159 Herne the Hunter
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go long soup nazis

Tue, 05/31/2011 - 10:28 | 1325194 Dolemite
Dolemite's picture


Top in place after today?

http://deadcatbouncing.blogspot.com/

Wed, 06/01/2011 - 03:26 | 1327747 mr_T
mr_T's picture

How much for one rib? 

How much if you pour some soda in my hands?

 

The only change, is no change... suckaas....

 

Wed, 06/01/2011 - 03:30 | 1327748 mr_T
mr_T's picture

How much for one rib? 

How much if you pour some soda in my hands?

 

The only change, is no change... suckaas....

 

Tue, 05/31/2011 - 10:41 | 1325275 Hugh G Rection
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USA USA USA!!!

Tue, 05/31/2011 - 10:50 | 1325313 throughthewire
throughthewire's picture

Barrack Hussein Obama, mmmmm, mmmmm, mmmmm!

Tue, 05/31/2011 - 10:56 | 1325322 kridkrid
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Right... because if only we had a different president, things would be... well.... different.  You are being fed the words that you use to keep the false dichotomy alive.  The pendulum will swing back and forth as we circle the drain.

Tue, 05/31/2011 - 11:10 | 1325394 redpill
redpill's picture

Yep.  Meet the new boss, same as the old boss.  Does anyone think Mitt Romney or any of the other silly gaggle of "GOP Frontrunners" is going to do anything but follow whatever the Fed/Goldman tells them to?

They all can talk a mean game of fiscal responsibility.  But in the end they are all politicians at heart, and when they realize real fiscal maturity would mean they become the "bad guy" of history that cut off the slop from the government trough, they'll decide it's better to kick the can down the road some more.

 

Tue, 05/31/2011 - 11:28 | 1325475 kridkrid
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Even when austerity comes, it's still just part of the same evil system.  The purpose  of austerity isn't to pay down debt, rather maintain some level of debt servitude until the system completely unravels.  The oligarchs wishes are still being served. 

Not only are the final two candidates carefully vetted (final representative of each party), I believe almost all of the candidates in the respective primaries are vetted.  Elections are fixed, but not in the way many people think.  The fix is in waaaaaay before people go to polls.  It doesn't matter much from there.  All my opinion, of course.

Tue, 05/31/2011 - 11:50 | 1325544 Arthor Bearing
Arthor Bearing's picture

What you say about austerity needs to be shouted from the rooftops, it's frustrating to hear from convservative voters how we have to buckle down and balance the budget with austerity... that just keeps money funnelling to the banks and senior capital pools without the corresponding benefit of government services. We need to default and then prepare for war (a defensive war against debt collectors), or die as slaves. This sentiment will get more popular as the practical consequences of austerity begin to manifest themselves.

Tue, 05/31/2011 - 12:09 | 1325600 kridkrid
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Well... I guess that makes two of us.  Try having this conversation with a conservative and he looks at you as if you have 3 eyes.  The fact that this conversation isn't happening anywhere goes to show just how pervasive the control on information really is.  Even in the big "showdowns" between those for and against austerity, like the whole Wisconsin thing from a few months ago... the anti-austerity crowd never describes it for what it is.  At least it's never reported that they do.  The debate is driven towards "this is unfair vs. of course we need to live within our means"... and while both positions may be more or less correct, neither address what it is that underwrites our system... neither deal with reality.

Tue, 05/31/2011 - 12:47 | 1325650 Bob
Bob's picture

Three of us.  The virtual absence of that narrative, other than applied to the PIIGS and third world nations, reflects the conflicts the larger investment community suffers, imo, even its brilliant and irreverent representatives here at ZH.  On the merits, there really is no other worthwhile argument about public debt to be made at this point.  But people get caught up in applying the old ideas about markets that used to matter . . . an old habit that makes even more sense when you consider they're still playing the game. And their gain by cuts in "entitlements" and government services would be a hugely outsized benefit for them.  While it lasts.

Rather than talking around the obvious irrelevance of "fiscal responsibility," other than as a continued feeding program for the parasite class, it would be nice to hear our perspective more often. 

Keep talkin, I guess. 

Tue, 05/31/2011 - 20:39 | 1327161 Astrolabe
Astrolabe's picture

I am very interested in this, but do not have the economics background that many of you ZH'rs have.

Could you spell it out for me, in a way that I could explain to someone who knows even less than I do, how austerity would result in a huge (and unfair) benefit for the monied class?

Tue, 05/31/2011 - 12:41 | 1325689 ibjamming
ibjamming's picture

Rich business guys...not content with their wealth/power get their fellow rich and powerful business buddies to "place" them in office.

It IS much better than the other side of the coin...an unknown...

Tue, 05/31/2011 - 12:52 | 1325705 Hugh G Rection
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kridkrid

 

100% agree.  That's why we will never see a Kucinich or Ron Paul get nominated by either party.  The cartel controlled media works fervently to paint principled candidates as "fringe", no matter what initial precedes their name.

Tue, 05/31/2011 - 11:29 | 1325477 pirea
pirea's picture

and if by accident, somebody will come and dare do the right things, will be dead in no time

Tue, 05/31/2011 - 11:50 | 1325509 Don Birnam
Don Birnam's picture

This Government "Of The People" is making dependent serfs of them. Alas, the electorate ultimately gets exactly what it voted for -- in this regard, SNAP cards.

Tue, 05/31/2011 - 11:11 | 1325396 rbjmartin
rbjmartin's picture

It's also very important to use his middle name when mentioning how bad he is, because Hussein is a bad guy name.

Tue, 05/31/2011 - 16:48 | 1326514 Parousia
Parousia's picture

Much less so "Herbert."

If only Mondale used Reagan's full name...

Tue, 05/31/2011 - 11:02 | 1325340 DeadFred
DeadFred's picture

Anyone want to do the math, if you extrapolate that straight line into the future when will Warren Buffett start receiving food stamps?

Tue, 05/31/2011 - 11:21 | 1325441 mayhem_korner
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I was thinkin' the chart looks like a radioactive tsunami about to break.

(with a little sharky swimmin' away)

Tue, 05/31/2011 - 19:33 | 1327007 Bwahaha WAGFDSMB
Bwahaha WAGFDSMB's picture

Looks like a slope of 5% per 3 years, so we'll hit 100% in 2062.

Tue, 05/31/2011 - 11:08 | 1325366 GoatETF
GoatETF's picture

+1

LOL, that coffee really burns when coming out of the nose....

Tue, 05/31/2011 - 10:17 | 1325154 LRC Fan
LRC Fan's picture

Ohhh snap!

Tue, 05/31/2011 - 10:55 | 1325328 Cash_is_Trash
Cash_is_Trash's picture

Snap indeed.

This is once again the most BULLISH news to date.

That is of course until, we break even more food stamp usage.

Then the UBER BULLISH rally comes on.

Tue, 05/31/2011 - 10:14 | 1325156 Cdad
Cdad's picture

You know, Tyler, you should include a link where we can all sign up.  

Tue, 05/31/2011 - 10:29 | 1325198 Henry Chinaski
Henry Chinaski's picture

Sign up?  Everyone with an SSN should be enrolled automatically.  Get it over with.

Benefits bitchez!

Tue, 05/31/2011 - 10:46 | 1325285 FEDbuster
FEDbuster's picture

Isn't this one run by Morgan Stanley?  I know the unemployment is handled by JP Morgan Chase.  Citi should get Medicare/Medicaid?  Goldman Sachs military spending and foreign aid?

Government Cheese, bitchez!

Tue, 05/31/2011 - 10:17 | 1325160 Cognitive Dissonance
Cognitive Dissonance's picture

On the public dole means the mob is somewhat sated............for now.

Tue, 05/31/2011 - 10:20 | 1325165 alien-IQ
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just more people who will soon be forced to add a new word to their vocabulary: Austerity.

Tue, 05/31/2011 - 10:28 | 1325216 Cognitive Dissonance
Cognitive Dissonance's picture

Do it for the children bankstas.

Tue, 05/31/2011 - 13:29 | 1325811 Ben Fleeced
Ben Fleeced's picture

Do it for the sick childlike bankstas.

FIFY. Tugs at the heart a little more?

Tue, 05/31/2011 - 10:44 | 1325270 InconvenientCou...
InconvenientCounterParty's picture

What does food stamp volume (A.K.A.money printing) have to do with Austerity? Maybe austerity in U.S. would mean maintaining < 2500 calories a day?

Food Stamps, housing subsidies and whatever else will follow (fuels vouchers?) are all adding to the pool of fiat chasing fixed resources. ZH'ers know what that means for hard assets.

Tue, 05/31/2011 - 10:49 | 1325296 ElvisDog
ElvisDog's picture

Food stamps will represent austerity because (1) the only way to pay for food stamps and other government transfer payments is to run deficits (2) the only way to pay for deficits is through Fed monetization (3) Fed monetization creates commodity price inflation (4) food stamp payment amounts won't keep up with food price inflation.

So it will be a type of stealth austerity in that people will still get food stamps, but they just won't buy as much as they used to.

Tue, 05/31/2011 - 12:56 | 1325724 Bob
Bob's picture

Exactly.  The squeeze is well underway.

Tue, 05/31/2011 - 12:25 | 1325636 alien-IQ
alien-IQ's picture

When it's time to "tighten" spending...food stamp program will be cut back...hence...austerity for those on the program.

Tue, 05/31/2011 - 10:15 | 1325161 alien-IQ
alien-IQ's picture

the good news just keps on coming. this is shaping up to be a 300+ point gainer for the DOW today...because they roll like dat.

Tue, 05/31/2011 - 10:20 | 1325163 Alcoholic Nativ...
Alcoholic Native American's picture

Go long JP Morgan, they get their cut from EBT tards.

Tue, 05/31/2011 - 10:17 | 1325167 flacon
flacon's picture

What a compassionate country - see, socialism is working because we are "feeding the hungry" more and more! /s

Tue, 05/31/2011 - 10:17 | 1325168 Id fight Gandhi
Id fight Gandhi's picture

All ignored by the market. Because Greece is more important to our domestic market than our domestic market.

Tue, 05/31/2011 - 10:18 | 1325169 Mercury
Mercury's picture

Bring on the labor force participation rate/food stamp participation rate compression trade...

Tue, 05/31/2011 - 10:22 | 1325171 oogs66
oogs66's picture

Consumer confidence supports the fact that we are splitting into 2 nations.  Those making $50k and higher had confidence of 77.2...down from last month, but well above the low 40's average amongst those making less than $50k. 

Tue, 05/31/2011 - 10:50 | 1325291 RKDS
RKDS's picture

The more the globalist elites do to destory the economy, the more they deserve to profit it seems.  Once this gap gets large enough, it'll be impossible to close.  On one side, the evil poor who have nothing to take, on the other, the saintly rich who deserve everything and then some.

Tue, 05/31/2011 - 13:36 | 1325823 Ben Fleeced
Ben Fleeced's picture

Is that you King Edward? May we have our guilded age back, please?

Tue, 05/31/2011 - 10:23 | 1325175 Bastiat
Bastiat's picture

That participation rate looks like it is per total population.  Total households as a denominator would give a more telling number.

Tue, 05/31/2011 - 10:34 | 1325223 Bastiat
Bastiat's picture

Avg people per household 2.59 (2010).  So households receiving foodstamps as a % of total households should be 2.59 X 14.4% (right scale on chart at top) or 37%.  Making some allowance for households where several members may be receiving foodstamps it still looks like it would be around 1/3 of total households.

Tue, 05/31/2011 - 13:27 | 1325810 Bastiat
Bastiat's picture

Just read that the 44.5M folks receiving SNAP are in 21M households.  So it works out to about 18% households on food stamps.

Tue, 05/31/2011 - 10:20 | 1325177 weimdog
weimdog's picture

Summer of Recovery Part 2?

Tue, 05/31/2011 - 10:26 | 1325184 TheMerryPrankster
TheMerryPrankster's picture

The canary in the coal mine has stopped singing. One in Seven on the stamps. Oh what  a wonderful vibrant recovery!! Battle Two of the war on poverty has begun, this time the troops are firing into  the crowds.

What happens when the cards don't get reloaded at the first of the month? Do they herd everybody into refugee camps like in Ethiopia? Strange days indeed.

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