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No Inflation? General Mills Begs to Differ

CrownThomas's picture




 

Repeatedly, all we hear is that Zero Hedge is just some wing nut website. Always stretching the truth about the economy's woes, and constantly claiming hyperinflation is just around the corner. Ya, about that...

General Mills came out Wednesday with their Q3 earnings, and what do you suppose was one of the top points they wanted to make to their investors? Just that they were experiencing significantly higher input costs year-over-year.

As a matter of fact, they say that YOY inflation input costs were actually higher by 2% 3% 5% 8% ...

10%-11%

So is it deflationary for the consumer if the 3rd biggest food company in America is experiencing double digit inflation?

But then again what do I know, I'm just a contributor to a blog. And I don't even have a Phd.

 

 

 

 

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Sat, 03/24/2012 - 02:49 | 2286128 tickhound
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And after 2 years and 34 weeks on zh you counter the 'weak-ass Bush's fault' with an Obama's fault / back to Huff Po one-two combo.

If this exercise has taught us anything its that tenure is overrated.

Sat, 03/24/2012 - 11:50 | 2286602 Kayman
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Tenure ? on ZH? Ask Chumba or Leo how far tenure goes. Unless, of course, Brusca is Leo re-incarnate.

Sat, 03/24/2012 - 04:14 | 2286184 barliman
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Reading skills, they are fundamental!

You tend to jump someone's shit for things they did not say and then apologize when they call you on it.

By the way, this isn't Fight Club. It was never named Fight Club - the name is Zero Hedge. It was not meant to be another place for mindless people to come and slam into one another.

If you are here, you supposedly want to learn.

We've lost valuable contributors as the number of people who can't or won't think have multiplied over the years.  CD wrote a good piece trying to bring the old timers back into the fold.

I am not here at 4:00 in the morning for the fun of it. I am here because there is a chance this place might make a difference.

Read more, think more, post less.

barliman

Sat, 03/24/2012 - 09:34 | 2286378 GCT
GCT's picture

Barliman thanks for posting. 

I will be honest and will probably get junked for it, but here I go.  I never miss a day at ZH.  I have learned so much here and I do miss some of the commenters.  I too wish they would come back.  I do not post often.  This is an election year and with that political pundits on both sides of the isle are on an all out attack.  Most likely posters here that do not tread down either partie's line has a dossier now with the FBI. Thats ok with me. 

I think ZH has already made a difference, it has for me.   Free speech is what it is and no other site I go too is as free as ZH.  There will always be commenters on this site that will never open their minds.  I used to get upset with some commenter here telling people they actually do not have a choice when voting.  I want to tell them they are idiots.  Realistically you do not have a choice as you get either a repub or a dem.  Wow they were right.  That really sucks when you realize that.

It saddens me when people believe the message from either party as they are one and the same.  Even when presented with facts people still blame Bush for what is going on now.  It boggles my mind.  Bush was no better but you pundits out there ought to take a look at what this president is doing objectively.  Politicians love you idiots as they continue to divide the country down party lines while both are pilfering your wallets. Both parties are allowing the banksters to do what they do.   

I just ignore the stupid shit posted these days as it is expected during an election year.  Hang in there Barliman once this is over sanity will return and I do learn from alot of commenters on this site.

For those people thank you.

Sat, 03/24/2012 - 04:38 | 2286199 tickhound
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I'm really sorry, again, but there was no apology intended.  I was only keeding!

As for the rest of it, I don't know what to say other than you don't know me very well.

Sat, 03/24/2012 - 07:34 | 2286270 Canucklehead
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Can you read?

Sat, 03/24/2012 - 03:28 | 2286159 barliman
barliman's picture

 

Really?

If it has taught us another thing, it is that reading comprehension skills have dropped dramatically.  You can search my posts for that entire period and let me know if you find any defense of Bush in that time period.

ZH began registering on the DNC screens as a problem in the months before rocker and yourself joined. We had a huge influx of Obambi trolls and more than a few sleepers, especially after the first wave got rousted.

But you wouldn't be another one of sleepers, right tickhound?

barliman

 

Sat, 03/24/2012 - 04:09 | 2286180 tickhound
tickhound's picture

Are you asking me for my paperz, barliman?  I hope you find everything in order. 

Volunteered in my area 07 -08 for the Paul Campaign.  Good mix... Alot of independents, and the disillusioned right and left.  It was pretty exciting, I recall, particularly as Bear Stearns and the economy in general started to roll over.  Ah yes... vindication.

And oh, I never said you defended Bush... you are right about that reading comprehension.

I am relieved that I evolved from the rino side of the spectrum.  I would've had alot of explaining to do were I an awakened democrat.

Now if you'll excuse me... I am sorry I said anything in the first place. 

Sat, 03/24/2012 - 07:14 | 2286263 JoBob
JoBob's picture

"alot" = a lot

Some transgressions are unpardonable.

Sat, 03/24/2012 - 07:14 | 2286262 JoBob
JoBob's picture

"alot" = a lot

Some transgressions are unpardonable.

Sat, 03/24/2012 - 04:17 | 2286187 barliman
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See post directly below.

The fact I took the time to respond, again, was because you have potential but you are not processing enough of what you read.

barliman

Sat, 03/24/2012 - 02:32 | 2286121 Whats that smell
Whats that smell's picture

Bush was a half witted puppet douchebag that did alot to distroy the USA.

 

Sat, 03/24/2012 - 11:44 | 2286587 Kayman
Kayman's picture

Bush (Name your president) was a half witted puppet douchebag that did alot to distroy the USA.

Sat, 03/24/2012 - 11:00 | 2286510 Tegrat
Tegrat's picture

 Obama doesnt seem to know how many states there are in the US (57?) and the difference between the Corps and a corpse. Bush's TARP was a loan to be paid back with interest vs Obamas dumping cash in the form of new debt.    

Obama is an order of magnitude more ingnorant and arrogant than any politician in office, excepting Joe Biden (which is why, as additional protection for himself,  he chose Joe to run as Veep).

At least Bush was pro-America and what it stood for.

Sat, 03/24/2012 - 03:47 | 2286166 barliman
barliman's picture

 

Agreed.

Nothing more so than rolling over "on his principles" <snort> and helping to shove TARP up the public's ass.

But re-think the half witted puppet considering the following:

If you want to see the REAL George W. Bush, hunt up an unexpurgated version of Alexandra Pelosi's documentary on Bush's candidacy for the President in 1998 - 2000.  George "The Idiot" W. Bush was an invention of his Republican handlers. He starts out incredibly savvy and willing to spar with the press guys who are there in the beginning in a good natured and very informed way. As the possiblity turned into a probability of him being the nominee, the mingling with the press ends and the answers get dumber and less informed on the same subjects. "The Idiot" method insures the media goes to the handlers for information and works better than plausible deniability with regard to any issues that might turn up.

Long ago, I used to be involved in politics. If people knew how much the media was controlled 20+ years ago, they'd throw up for a couple of days. The downside risk was if the media folks caught you manipulating them, they'd do everything they could to burn you down to the ground.

When Obama came along, the media was already bought and paid for so they had NO problem laying down any pretense about who they were supporting. If this all turns to shit, I plan on watching how things turn out for some of those folks.

barliman

Sat, 03/24/2012 - 08:39 | 2286322 lakecity55
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I distinctly remember Rush lauding Bush2 after a meeting with him before the '00 election. He was supposed to be the 2nd coming of RR.

Either Rush was too trusting or he is a NWO plant to distract true conservatives.

Sat, 03/24/2012 - 10:16 | 2286428 El Oregonian
El Oregonian's picture

Prescott Bush, Grand-Dad to Dubya, was a big eugenicist along with Margaret Sanger (founder of Planned Parenthood) and Fredrick Gates Grand-Dad of (Bill Gates, founder of Microsoft). All contemporaries of Hitler except Hitler jumped the shark to lead the pack. In fact, Ol' King Edward VIII abdicated the Crown of England because of his accepting of Hitler's views and his belief in eugenics (The whole "I give up my Thrown to marry a twice divorced American common woman of ill-repute" is nonsense. 

There is bad ju-ju with this lot, and their off-spring, nothing good can come from this infested Cabal. They all need to be locked behind bars... Forever.

Sat, 03/24/2012 - 14:59 | 2286861 rocker
rocker's picture

Glad I struck a little nerve. I am not a Bambi worshipper at all. Nor am I a Bush Water drinker either.

I am simply making the point above that Bush went to war and gave tax cuts. Totally irresponsible as Stockholm has said.

And as Paul O'Neill acknowledged, who got discarded. And speaking of irresponsible. Phil Graham deregulated the banking standards for home buyers so his banking buddies could get rich off of the artificial boom.  No Money down, No Job Proof and even paying buyers to buy homes is a Bushit farce of record home ownership as he claimed. If they had skin in the game they would not have given all those bad mortgages. Buy hey, it was not their money or responsibility. Biggest Scam every and nobody went to Jail. Nobody. 

Now let's go to Bambi.  Keeping people on unemployment for more than, (let's compromise), 6 months is even beyond belief. His failure to nationalize healthcare is a Godsend to the insurance companies.  Just bad policy.  (I would say nationalizing health care might be a good deal for most). We pay more for health care in America that any other nation, yet our end result is less than many nationalized health care systems of other nations.  So Bambi has not been much better. I don't believe in free rides. I also don't believe in insurance raping people either.

By the way. the above seem to be hell bent on destroying SS as it was designed. A safety net. Since companies do not want to give retirement benefits any longer it is not that bad of a idea to maintain a safety net.  

As far as this year goes, anybody who does not control the bankster's cartel and insurance companies monopoly or garnishes them again is a total waste.

Ron Paul would have none of the above. None. Just sayin the truth. Ron Paul is a person of integrity when he says we (the government) owe those who we promised to provide that safety net to. Even though he thinks the program itself needs to be revised. Our government has become a Cabal owned by those who can buy politicians. This too needs to be fixed. Because this "big money owns our politcians" game is failing the people.

We need a government for and by the people. Not the rich who buy their agenda. 

Sorry I even waited my time on this.  Big Money Ownes Us. Period.

Sat, 03/24/2012 - 08:05 | 2286293 Red Heeler
Red Heeler's picture

W was my governor for years. Don't tell me he's not a half-wit, even if he was the "decider."

That said, the kleptocracy cares not who is the figurehead; they are in charge.

Fri, 03/23/2012 - 22:19 | 2285817 sablya
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It is actually amazing how far and wide ZH spreads.  Take almost any article and you can find it replicated in dozens or hundreds of other sites.  

Fri, 03/23/2012 - 22:06 | 2285796 billybobtx
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Bullish

Fri, 03/23/2012 - 21:56 | 2285783 Chartist
Chartist's picture

Look, we all know there's no way to pay the national debt except to inflate the money supply....You can fight mental health, or get fully invested ala Wiemar Republic style:  the choice is yours.

Fri, 03/23/2012 - 21:53 | 2285778 Animal Cracker
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In other news, Boskin & Greenspan suggest substituting your favorite breakfast cereal with Fedgov's credibility.

Fri, 03/23/2012 - 21:52 | 2285775 Curt W
Curt W's picture

If your favorite food item has not gone up in price, it has gone down in net weight,

The Fed has printed itself into a corner, they cannot raise rates to stem inflation bgecause the higher rates will kill the government in interest payments so they change the definition of inflation on a monthly basis to avoid admitting it is happening,

The Mayans were right, this is the year that everything changes.

You will never look at government or life the same way again.

Good Luck, gather friends and guns and grow a garden, because this is the start of a downward spiral that won't stop until the very bottom.

Sat, 03/24/2012 - 11:50 | 2286603 spanish inquisition
spanish inquisition's picture

Have you tried Cheerios lately.. made with whole oat flour (includes the oat bran) listed together as the number 1 ingredient. I am pretty sure they changed the definition of oat bran as anything growing above the dirt  (ala 15% pink slime = hamburger). Tastes like you are eating straw... So they have value sized and are feeding us straw and still are getting margin compression..... just waiting to see the Made in China labeled with proudly distributed and marketed in the US by General Mills.

Maybe they need a new brand that is cheap to produce... Like Mini Sugar Dirt Cookie cereal.. I think marketing tests in Haiti should go well...

Sat, 03/24/2012 - 07:44 | 2286276 StychoKiller
StychoKiller's picture

Kellog's General Mills and Post are calling the new, smaller packaging "Value-sized!"

Sat, 03/24/2012 - 10:17 | 2286430 DaveyJones
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they didn't say whose value

Fri, 03/23/2012 - 21:52 | 2285774 Melin
Melin's picture

"...all we hear is that Zero Hedge is just some wing nut website..."

Clearly, you're listening to the wrong people.

Sat, 03/24/2012 - 03:55 | 2286168 The Alarmist
The Alarmist's picture

First step is admitting you have a problem.

Fri, 03/23/2012 - 21:50 | 2285771 Sleepless Knight
Sleepless Knight's picture

I prefer General Metals 1 gram Golden Flakes Bitchez!!! 

Sat, 03/24/2012 - 00:04 | 2285962 RockyRacoon
RockyRacoon's picture

Hey!  A person could choke on 31.1034768 of those.

Fri, 03/23/2012 - 21:50 | 2285769 Al Gorerhythm
Al Gorerhythm's picture

I don't get it. I have a 5 year student loan that got me a degree in Women's Studies with a major in Artistic Influences in Surfing and having gained those higher education certificates, if anyone should understand where the inflation in prices comes from you would think it would be me. What am I missing?

Sat, 03/24/2012 - 02:28 | 2286118 Troll Magnet
Troll Magnet's picture

Hey Al,
Did you at least get to see some naked chicks in your womyn's studies classes? I heard those feminists don't believe in clothes or something.

Sat, 03/24/2012 - 02:56 | 2286136 Al Gorerhythm
Al Gorerhythm's picture

Nah, but you get to paddle out behind some fine figures. The older you get, the slower you paddle tho`.

Fri, 03/23/2012 - 23:12 | 2285872 GoinFawr
GoinFawr's picture

Sadly, I have neither a Phd in economics nor anything like your long list of credentials, so I have to ask:

Is the net implication of your sardonic comment that such cost input increases are somehow an excellent indicator of Mish'flation?

 

(your downtick was courtesy of my shadow, not me)

Sat, 03/24/2012 - 08:54 | 2286139 Al Gorerhythm
Al Gorerhythm's picture

I had a push-bike which I named "The Shadow". It was a stealth bike. You couldn't see me coming.

I down-ticked you in retalliation, but it is a "shadow" or "stealth" down-tick. Think of it as an Off Balance sheet derivitive, yet to be counted in the light of day. I could give you 1.3 quadrilion of them but then, that would dilute the value of the first that I issued. It would be remiss of me to inflate the value of that away.

Edit: Don't expect the same kindness from a government with an open cheque book pushing a socialist agenda, or from a banker with an endless ledger.

Sat, 03/24/2012 - 23:19 | 2287710 GoinFawr
GoinFawr's picture

I wouldn't expect anything from a gov't with an open cheque(sic) book except debt slavery, regardless of which '-istism' agenda they claim to be pushing. On the other hand, if they can keep their national coffers in the black for years on end, I don't mind it so much if they trim a bit of the excess off to provide the means for some callous layabout's grandma to keep her cupboard full of cat food until the poor dear shuffles off this mortal coil.

http://www.guardian.co.uk/news/datablog/2010/may/27/debt-deficit-oecd-countries-data

As for that alleged 1.3 quadrillion: is that denominated in gold/silver oz.'s or Zimbabwe/US dollars? ('Birds of a feather...' and all that cal.)

1,300,000,000,000,000. Hey, look, I just printed 1.3 quadrillion. Woohoo, I'm rich!

Look out! Now I'm calling it in:

-2,600,000,000,000,000.

Damn that must have messed with the world's money supply.

PS You got another +1 from me for writing "cheque"

 

Sun, 03/25/2012 - 02:00 | 2287951 Al Gorerhythm
Al Gorerhythm's picture

My question is: why is it necessary for a non-profit, wealth destructive monstrosity allowed to extort money from the productive sector of society and show a surplus? Further, should it be the role of government to be the provider of sustanence to the masses, knowing that they have no legitimate means of providing their own money?

I get it if the people agree, but they should be fully informed where the government gets its money from and how the money system itself really works under the ageis of government fiat laws.

Sun, 04/08/2012 - 18:56 | 2326561 GoinFawr
GoinFawr's picture

whoops, I had no idea at all that the oil off the coast of Norway being exploited by the Norwegian Gov't at the behest of Norwegians for the benefit of Norwegians was being stolen from you and yours; did you inherit it or just earn it by your overwhelming sense of self righteousness and entitlement? 

Sun, 03/25/2012 - 02:08 | 2287956 Al Gorerhythm
Al Gorerhythm's picture

And isn't government with an open cheque book what we are subjected to now? There is an undeniable answer of yes to that,  once you understand the creation of money by govt through "open market operations" using their primary dealer network. On friday, the Australian Govt. created another 32 billion at the stroke of a pen with a currency swap agreement with China. The Oz govt. gets as a deposit the equivalent in Renmimbi which they get to claim as a deposit to fractionally hypothecate according to their fractional reserve guidelines, thereby creating more "capital" with which to recapitalize their over-extended banks. This shit never ceases. 

Sat, 03/24/2012 - 14:08 | 2286820 Dan The Man
Dan The Man's picture

you guys are funny

 

Fri, 03/23/2012 - 21:47 | 2285762 i-dog
i-dog's picture

 

"all we hear is that Zero Hedge is just some wing nut website"

Shoot the messenger!! (Sockpuppetry101: Lesson 1)

Fri, 03/23/2012 - 22:21 | 2285752 Tijuana Donkey Show
Tijuana Donkey Show's picture

It's Ok, the Bernak doesn't eat Wheaties, he eats IPadio's, which are cheaper every year. Plus, they come with a NSA tracking chip free of charge! Eat your IPadios bitchez, and enjoy the ride. 

Sat, 03/24/2012 - 02:29 | 2286117 Element
Element's picture

These devices don't have a GPS chip but any G3 network can geolocate the device within about 10 meters via simple trigonometric triangulation apps and activity monitoring, therefore both remain backwards-compatible with legacy JDAM and Hellfire target prosecutions for high-confidence kill-window engagement.

Which is great news for the warfighter!

Plus iPad3 is more credible and cheaper than an online phD, and iPad2 is cheaper again, but now only Masters-degree equivalent.

So you probably still need to upgrade if you want to secure your Maca's supervisory burger-flipping career and its numerous social advantages.

 

Sat, 03/24/2012 - 09:32 | 2286373 Coast Watcher
Coast Watcher's picture

I'm not sure what you just said, but I love the way you said it.

Fri, 03/23/2012 - 21:14 | 2285723 AN0NYM0US
AN0NYM0US's picture

So is it deflationary for the consumer if the 3rd biggest food company in America is experiencing double digit inflation?

 

 if you live on a diet of Nat gas and flat panel Teevees the answer is deflation

Sat, 03/24/2012 - 10:16 | 2286427 Bicycle Repairman
Bicycle Repairman's picture

Hookers are also down 5.2% YOY.

Sat, 03/24/2012 - 12:06 | 2286636 Sophist Economicus
Sophist Economicus's picture

Where?   Where?

Sat, 03/24/2012 - 16:03 | 2286980 Bicycle Repairman
Bicycle Repairman's picture

Actually I had to substitute crack hos for swimsuit models, but that's deflation, right?

Sun, 03/25/2012 - 21:57 | 2289704 Conrad Murray
Conrad Murray's picture

That's hedonistic hedonics - http://www.youtube.com/watch?v=zPkTItOXuN0

Do NOT follow this link or you will be banned from the site!