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Producer Price Inflation Higher On Spiking Food And Energy; Those Who Don't Eat Or Drive See No Price Increase
In a country in which nobody eats or drives any more, the Fed construct knosn as September core PPI came in 0.0%, on expectations of a 0.2% increase. Of course, for those lucky few who still eat, or drive, or in rare cases eat and drive, saw Producer Prices rise by 1.1% on expectations of a 0.8% increase, which despite dropping from August's 1.7%, this was still the second highest monthly increase in the past year. Also, for those few who actually care about such trivia as food and energy prices, this was the 4th month in a row of higher than expected headline PPI. Luckily, in America, eating has now been hedonically adjusted to the functional equivalent of playing Apple's bestselling $0.99 iFood app.
From the report:
The Producer Price Index for finished goods rose 1.1 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods advanced 1.7 percent in August and moved up 0.3 percent in July. At the earlier stages of processing, prices received by manufacturers of intermediate goods rose 1.5 percent in September, and the crude goods index advanced 2.8 percent. On an unadjusted basis, prices for finished goods climbed 2.1 percent for the 12 months ended September 2012, the largest rise since a 2.8-percent increase for the 12 months ended March 2012.
Full report here.
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NO inflation bitchez - Ben Shalom
That's what I hear from a Keynesian relative I argue with occasionally. And when I point out his lunacy when he complains about oil prices and rising grocery bills/smaller packaging he kindly lectures me that price increases are not inflation in "economic terms." Oh well, once an economics professor, always an economics professor.
God created Economists to make Weathermen appear reliable.
So what is his explanation for the rise in prices?
Corporations are evil and "we" need to rein in rampant speculation in commodity markets. But continued deficit spending and money printing to support "our" recovering financial system is his absolute first priority.
Our conversations lately have become...brief.
"Corporations are evil and "we" need to rein in rampant speculation in commodity markets."
Very "Venezuelan dictator". Nice.
http://www.crossroad.to/Quotes/brainwashing/2007/bezmenov.htm
"It's a great brainwashing process which goes very slow and is divided into four basic stages. The first one being "demoralization". It takes from 15 to 20 years to demoralize a nation. Why that many years? Because this is the minimum number of years required to educate one generation of students in the country of your enemy exposed to the ideology of [their] enemy. In other words, Marxism-Leninism ideology is being pumped into the soft heads of at least three generation of American students without being challenged or counterbalanced by the basic values of Americanism; American patriotism....
The result? The result you can see ... the people who graduated in the 60's, dropouts or half-baked intellectuals, are now occupying the positions of power in the government, civil service, business, mass media, and educational systems. You are stuck with them. You can't get through to them. They are contaminated. They are programmed to think and react to certain stimuli in a certain pattern [alluding to Pavlov]. You cannot change their mind even if you expose them to authentic information. Even if you prove that white is white and black is black, you still can not change the basic perception and the logic of behavior.
In other words [for] these people the process of demoralization is complete and irreversible. To rid society of these people you need another 15 or 20 years to educate a new generation of patriotically minded and common sense people who would be acting in favor and in the interests of United States society."
Just keep moving the dates..FORWARD SOVIET!
Well said. Except the process is only complete in US Cities and not in the Rural areas of America. You can divide America by Rural and Urban and have all the political differences exposed.
dunno 'bout anyone else, but these words,
didn't conjure any warmFuzzies for me. . . the current crop of iKidz being squeezed through the system, and given call service answering ijobs by .gov as the interface between the behemoth and the serfs don't inspire much confidence that things will change for the better anytime soon.
maybe after de-moral-isation comes absolute surrender. . . and I don't think many folks here want to see any more "acting in the interests of United States society"
unless, of course, we get to fracture into smaller packets and can freely choose where to land. ah, if only.
As soon as someone invokes the term "Americanism," you can stop taking them seriously. No one has ever had a clue what that word is supposed to mean--it's code for some kind of ethnic nationalism, but the USA doesn't have any identifiable ethnicity.
Eat less shit food. Beer is still holding its price and is a viable food source.
Winning!!!
Cabernet is better for you and stores a lot longer than beer.
I had a nice 2004 Groth last night chuckling along with Chompers McPluggs.
Beer is better for you than wine (it really is more nutritive), and can store just as long, provided it is the right kind of beer.
Read Grape vs. Grain by Charles Bamforth.
Red wine hangover? Ugh, just shoot me right in the face please.
More calories in beer per dollar spent.
A sixpack a day and a can of tuna fish (in oil) would probably keep you alive for decades. And if not, you won't mind much.
It's been here a while already. Food price inflation has been masked by decreasing the package sizes while holding prices steady.
No, the package size has remained the same but the amount within the package is shrinking. And in the case of coffee, the package and amount is shrinking but the price is increasing!
The bitter irony of economists is that they don't realize how right they are.
If priced in gold, not much inflation to speak of.
Actually I've seen 10oz coffee selling in 16oz bags; I held them up to each other and 10, 12, and 16oz(rare) are all the same. I suspect mfg's don't want to re-tool their packaging machinery or down-size packages while their competition sitting next to them on the shelf might appear larger in size. I expect that we'll soon get to the point where a package contains a scratch-and-sniff card inside; you buy it, sniff it, eat your gruel and dream of what once was real food...(ok, I'm exaggerating. A little.)
It's called marketing. Not many people look at the amount in a bag, they simply look at the size of the bag. Same size bag must mean same amount of product, right?
You knnow, this may actually be beneficial. Stay with me here, al those whales who think they are still eating that huge family bag of potatoe chips is actually esting lesss, thus they will loose weight and bring down all health care costs.....nah, sorry just dreaming there, in reality they will just be making more trips to store because they are still hungry.
Not quite. People will adapt and grab however many bags of cheese poofs they find makes them feel fulfilled as a human being.
MANY years ago, like back in the '80s, they used to put 16 oz (by weight) of coffee in the coffee cans which now somehow manage to contain *11* oz of coffee.
I've never been able to figure that out. How do you cram 11 oz into a 16 oz can?
Amazing, this packaging wizardry.
new improved coffee roasters add dryer sheets for FLUFFY-ness, volumicity!
One can only assume that one was expressed in weight, the other in volume.
Even if you include food and fuel, it's still waaayyy fucking understated.
My muscle car will not run on hedonics
Still trying to get a tatoo with chloroplasts in it. That way I can finally be like our plants and just go sit in the sun when I need some more energy.
Going green, bitchez! Why don't you see if Obummer will give you a gubmint grant?
Already looked, not covered by obamacare, but I hear that it is covered by romneycare, perhaps it is time to switch policies after all?
you'll have to move to Mass and start wearing a baseball cap with the bill curled to almost touch itself. Bad trade off.
Sunlight tax coming in 5...4...3...2... [sincerely, your local Congresscritter]
Ssshhh...if enough do, the CO2 issues solve themselves...
mix-in jellyfish DNA...charge by day...glow by night!
Hopefully you don't need to touch anyone or someone will have to pee on the contact spot...
I hear some people pay good fiat for that service. . .
Yeah, but when the hordes of 'locusts' show up, you're what's for dinner!
I now know what my halloween costume will be:
Caloric restricted diabetic walking zombie.
People have a very low glycemic index, therefore are perfectly suited to be food for diabetic zombies.
Shoot there is plenty of room for Ben to print more. Screw the poor...let them eat roadkill we need our account statements higher by month's end.
Moving to a home for stroke victims, they don't let you drive and food is by drinking, no solids - I guess I'll be in the figures of non-affected persons... lol
People wonder why college grads don't own cars and live in mommy's basement. So they won't need to buy food or gas!
Who says a student with a liberal arts degree doesn't know anything!
It's a ZYNGA world in the Bernaks eyes. Fuck Bernanke!
"cat food or heat, cat food or heat, decisions, decisions, grab a sweater honey were going on our winter diet again and this year were going to beat those Cramtons to that tasty tree bark"
catfood icecubes...
In a nation of unemployed SNAP users this makes total sense.
Everyone eats and uses transportation, of course. What the headline means is that those who don't pay for their own food or transportation see no price increases.
And who might fit that description? How about many of the decision makers in DC who attend events, receptions, dinners, etc most nights and have staff drive them from place to place?
Makes it all more clear, doesn't it?
Everyone eats and uses transportation, of course.
________________________________
Everyone human, that is.
Because, in some other realms of life forms, known by 'americans' as sub humans or non humans, some only know feet as transportation means and some other die from starvation, which tends to indicate that they do not eat that much.
But hey, it is an 'american' world, 'americanism' and the natural theory rights aims to serve human beings.
So quite good to claim that everyone in humanity eats and drive.
I've stopped driving. The food and drink thing is a little harder.
Biflation.
Well, I have been losing weight.
So I've got that going for me.
i still have this funny feeling or "look" that a imeltdown will be the story at 3 but i know nothing so take it with a grain.
*sigh* I cannot convert my fiat into gold and silver fast enough!
What about clothing? I guess if you are a nudist with a bicycle who grows your own food, life is good.
Where the nudist, biker, farmer girls at?
Cleaning their bike seats and riding something bigger than a chimp?
Riding a what?!?
#winning icon-reply
i have one on my block
but she is at least 55
nice enuf body though
No problem for me since I fast 3x daily...
Between breakfast and lunch
Lunch and dinner,
Dinner and breakfast...
My grocery bill is up 35% from a year ago.
Ours is down 35% from a year ago. Oh, yeah, my son moved out! Damn he eats a lot!
Just a quick question - how did you come up with that exact number, or is that a guesstimate? I don't doubt it's general accuracy, I've just found it hard to nail down that number myself because of all the variables.
It is an estimate. I do write down the grocery bill each week. I haven't done the exact math for the year, but it's been consistently 25-35% more for at least 5 months each week.
Your credit card company usually sends a year end statement with a breakdown, by class, of expenditures made during the calendar year. If you shop at the grocery store with your credit card, then you probably have a total amount spent for the year by category and vendor... obviously if you shop at a general store for your groceries (walmart), then the data might be skewed by general household purchases, but it will probably be a decent approximation. [those other common items are increasing in price as well].
Wait until the spike in meat prices takes effect from this summers drought. We'll all be eating pink slime sandwiches for dinner
I was going to say my husband's meat spikes every night, but I'm too dainty for that.
"Classy"
Don't be shy - a dirty mind is a terrible thing to waste
Well this means those on Social Security should not get a CPI increase this year...no inflation in that number.....lol...even dog food is going up....but the actual dog is available...ask the Chinese guy living close to you..he will get you some...
It getting more expensive to fatten up my dog for thanksgiving.
No shit! Dog and cat food has skyrocketed!
keep checking the ingredients in the pet foods - the dry stuff is under attack from corn gluten, soy derivatives, all kinds of "padding" that will add padding to the animal - grain-free foods recommended, the spike in dog/cat diabetes is telling.
How come Keynesian never refer to this Keynes's quote. "By a continuing process of inflation, governments can confiscate, secretly and unobserved, an important part of the wealth of their citizens. By this method, they not only confiscate, but they confiscate arbitrarily; and, while the process impoverishes many, it actually enriches some....."
Because they are Neo-Keynesians...out with the old...
Wasn't it Nixon who said "We're all Keynesians now"? Was he simply referring to economics, or was he secretly saying that his administration was into the secret confiscation of wealth? And isn't it curious that just a few years later it once again became legal for Americans to own gold.
There was never much "secret" about it.
Tap the heels of your ruby red slippers together three times, and repeat three times, "There IS no inflation, there IS no inflation, there IS no inflation!"
...and then you wake up!
You would get better results clicking the heels of your silver slippers together. Stupid Hollywood. As a bonus it is on sale this morning.
"Those Who Don't Eat Or Drive See No Price Increase" => Like Mark Zendy ...he gets driven around :)
Doesn't even have to leave his boudoir for that. <rimshot>
I wish that property taxes and insurance were in the bucket of goods that haven't gone up. It's not only food and fuel that are rising.
Oh, good. So the Borg's are OK then, whew!
/
Hey look, the playing field is sloped on both sides.
"Inflation" is low, just like "unemployment" decreased.
The key part of understanding this is that these words no longer have accepted definitions. They are political...they are whatever the government tells you they are.
That was always going to be the danger, wasn't it. The English language is so dynamic and flexible that ultimately anything can mean anything. Just like the Clintonian "it depends on what the definition of is is."
It was always the fate of America to drown in bullshit, bullshit created as a result of our inability to agree on what anything means. Orwell wrote about this a long time ago.
Let's add to that list: don't eat, don't drive, don't pay taxes, don't pay tuition, and don't have medical insurance.
So by my calculations and based on the above figures, food inflation over the last 12 months is 2.25%.
Now I'm in the UK. If you in the US are getting food at 2.25% more than this time last year, any chance of sending a food parcel over and I'll pay the postage.
Eat shit and Fart Methane.
I'm shoving food in my gas tank, so double plus good.
So what's the point? Are they trying to tell us that people need food? You're kidding? That's lame. Was it Rockefeller who told a 6 year old starving girl, "Eat dirt if you can't afford food" That's wisdom.
Yep, dont forget: 7 billions people are competiting over the same resources as 'americans' say.
That of course includes those who do not compete, that is those who do not drive or sometimes do not eat. Cause it has to be a human kind problem.
Ben Bernanke, master chief to preserve the US american middle class. What a faithful and zealous servant.
Massive shakedown, brace yourself, those who remain sitting on the branches will be 'american' middle class.
For the others, well, welcome to an 'american' world, fine as fine when you sit on the right side of it, not that fine when you are on the other side. But those unlucky to lose grip will have time to figure that out.
Bring The Gold, bitchez
and I'll bring the boat
Boating accidents, bitchez
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