US Households On Foodstamps Hit Record High

Tyler Durden's picture

Record Dow, record S&P, record debt, record plunge in gold, and now: record US households on foodstamps. What's not to like. While today's gold selloff may be confusing to everyone, one can scratch off some 23,087,886 US households, or the number that according to the USDA were on foodstamps in January and just happen to be a fresh all time high, as the likely sellers, especially when one considers that the average monthly benefit to each household dropped to a record low of $274.04. This number probably ignores, for good reason, the once every four years fringe benefits of Obamaphones and other such made in China trinkets.

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Vashta Nerada's picture

"The economy is moving at a record-setting pace."

This is how the news will be reported.

Banksters's picture

Food stamps have replaced soup kitchens.  

 

The cause is the same:  Economic depression.

hedgeless_horseman's picture

 

 

Speaking of food records...

...our broccoli is going gang-busters.

And our pea, carrot, and rabbit production are all off the charts!

otto skorzeny's picture

That makes me hungry for a Five Guys hamburger and fries. Fruits and vegetables suck.

nope-1004's picture

"Foodstamp Barry".  Nice legacy.

 

Taffy Lewis's picture

Exactly. Currently at 47,772,108 with a rate of more than one million per year (easy), Barry will smash the 50 million mark. Quite a legacy!

gold-is-not-dead's picture

This article is obviously false, dow and sp are at high levels, gold is smacked, bitcoin "bubble" has burst. Economy is lovely and peachy.

SARCASM par excellence.

Jack Napier's picture

Fruit is better than most candy, chocolate not included

nope-1004's picture

I stole it from you.  lol

+1

hedgeless_horseman's picture

 

 

I was just in a Five Guys and noticed that they had a 2009 GQ magazine clipping on the wall saying, "Best $5 Burger a Man Can Eat."

Unfortunately, the hamburgers are now $6.25.

Fuck you, Bernanke!

In regards to hamburger, our family milk cow's steer from last year returns from freezer camp this week.

madcows's picture

Right!  I never go out to eat, but I was out the other day and needed food.  Stopped at a 5 guys.  A regular burger, extra small fry and small drink was $11.  To me, that's a lot of money for some pretty average food, at best.

Sandmann's picture

In Europe the 20% Sales Tax makes anything inedible when you factor the restaurant makes less than the taxman and the food is the bit that gets downsized and adulterated

Skateboarder's picture

Doritos and iPhones is the new Bread and Circuses.

NeoLuddite's picture

Let me fix that for you - Bread and circuits

WayBehind's picture

Soon enough, we will all be on foodstamps. Well, if you lucky to find any food.

CheapBastard's picture

..and soon we'll all have "health insurance coverage" that no doctor will accept.

gold-is-not-dead's picture

Today's situation in the USA is so similar to YUGOSLAVIA in the 90's.

this building is a prime example of a failed health care funding mechanism... vacant for more than 20 years…

http://www.vesti-online.com/data/images/2011-02-08/129118_klinicki-centa...

Midas's picture

Lean forward.

 

As in, Bend Over Here It Comes Again.

A Nanny Moose's picture

"If you put the federal government in charge of the Sahara Desert, in five years there'd be a shortage of sand." - Milton Friedman.

FLUSA.com's picture

Well they sure as shit shouldn't sell their gold now to buy food

idea_hamster's picture

Lazy ZH recycling old posts ... wait -- wut?

Aegelis's picture

"What has been will be again,
    what has been done will be done again;
    there is nothing new under the sun.
Is there anything of which one can say,
    “Look! This is something new”?
It was here already, long ago;
    it was here before our time." Ecclesiastes 1:9-10

ZeroPoint's picture

"Change has come to America"

1100-TACTICAL-12's picture

Cloward & Piven.. The only plan functioning properly in the USSA,

madcows's picture

Can we have hyper inflation while salaries continue to stagnate and record #'s of people go on the government dole?  It's a real question.  They're printing like there is no tomorrow.  We should have massive inflation.  But, nobody can get a raise, so, they aren't buying anything unless they have to.  So, we should have deflation.  What's it going to be?

firstdivision's picture

Think late 70's early 80's.  I wasn't around then myself, but looking at the historical data, mirror mirror on the wall...

Bobportlandor's picture

I was and that was not the same as now. Were a dying economy, with nothing to do. Who needs people any more we've got robots. Problem is robots don't buy anything, except s&p 500.

 

Mr. Saxby's picture

You still need people to buy the robot porn.

LawsofPhysics's picture

Correct.  Scarcity is going to be the real problem.  Water, food, fuel.  Barring a whole bunch of fusion reactors coming online soon, the standard of living for the 7+ billion or so is about to change.  In particular, in the 70's/80's they were able to increase the oil available to the world.  Total world oil production has been flat since 2007.  Adapt or die bitchez.  Humanity isn't just another ponzi, it's the ponzi.  Hunger games for all.

Mr. Regression's picture

I was around then.  This is different.  A lot of the inflation then was energy based.  There wasn't nearly the levels of debt that we see today.  Volcker was able to raise rates and not bankrupt everyone (just some).  Sometimes I like to listen to that old song "Ball of Confusion" by the Temptations.

But what the hell do I know.....

LawsofPhysics's picture

Correct.  No way rates can go up now.  Moreover, the world's energy output has actually climbed since then.  Unfortunately, it has now been flat since 2007.  Yet, there are still 7+ billion people competing for a higher standard of living.  Hunger games for everyone...

insanelysane's picture

I was around.  We had 2 choices for Prez.  Someone that couldn't create jobs and one that possibly could and having a job was pretty much the only way to survive.  Last year we had 2 choices.  A guy that doesn't require anyone to work to eat and someone that might get you a job but you would need to work.

AlaricBalth's picture

Between 1974 and 1980 M2 velocity was exploding and labor costs were rising at unprecedented rates. Velocity has now been in a steady decline since 1997 and is currently at its lowest level since it was first recorded in 1957-1958. Labor no longer has pricing power and unions are just trying to preserve jobs, forget about wage increases.

MachoMan's picture

Yeah, the unions did so well with Hostess...

akarc's picture

Think late 70's early 80's.  I wasn't around then myself, but looking at the historical data, mirror mirror on the wall...

I was also around then. It was where I leaned to keep the grove boss happy by tipping him 3 boxes of oranges and not asking him where my SS deduction was going since he never asked for my number

GeezerGeek's picture

Except that wages rose rather quickly then. I worked for a second tier computer company then (IBM was the first tier, all by itself) and my salary increased nearly four-fold from late 1973 to 1981. One year the company even gave an across-the-board increase to everyong to keep up with inflation. I think that mid-year raise was, percentagewise, more than I got from 2008-2010.

akarc's picture

"Can we have hyper inflation while salaries continue to stagnate and record #'s of people go on the government dole? "

Fed gives money to the Banks. Banks destroy, hide or warehouse the money. No inflation!

Money has to actually get into the hands of the people who will spend it to have inflation and holy shit if the amount of money printed in the last 4 years ever does. 

tarsubil's picture

Some day the dam will break. It will probably start with a trickle.

kridkrid's picture

Inflation and deflation are two sides of the same coin. For some period of time which has already started we will "see" inflation in the thing we need and deflation in the things we own (including the return on our labor). The pace on this will accelerate until the wheels fall off. Only we won't see that part as clearly as it will look like WWIII. It will be WWIII.

MachoMan's picture

A simultaneous increase and decrease in the money supply is patently impossible.  However, you can have bifurcated prices for different goods...

What we have is simply cost push inflation...  costs can only be pushed up on things we need...  simple as that.

kridkrid's picture

This is why I put "see" in parenthesis. Didn't feel like writing the disclaimer about the real definition of inflation.

CrashisOptimistic's picture

The latest GDP number was 0.35%.  How can you have inflation when no one will buy anything but food and rents are not rising?

LawsofPhysics's picture

How, easy.  Scarcity.  Tell me, what would you be willing to pay for something you need to survive, but that is in short supply?

akarc's picture

 Tell me, what would you be willing to pay for something you need to survive, but that is in short supply?

How much can you pay? I know people driving further to work for less while paying more for gas to get there. Budgets reduced to food, rent and gas.

Considering recent ZH post re tunnel people and hill people, and other posts about car camps etc, your then down to gas and food. your transportation breaks down your fucked.

It is damn easy to get trapped in the nether land never to return. So many  of them you never see because they are not where you go. YET, i.e. your eligble too

 

LawsofPhysics's picture

None of that is sustainable, that's the fucking point.

CrimsonAvenger's picture

You know those old superhero cartoons, where both guys had laser eyebeams and they hit an impasse when fighting each other? That's what we have here - massive deflationary forces meet massive inflationary forces causing a standoff. At some point one will overwhelm the other and win; the problem is, there's no good guy to root for, either one is going to crush us.

MachoMan's picture

Not at all.  It's more like some medieval knight holding up a shield (deflation) to a dragon's breath (inflation) and a bit of the fire singes his hair every now and again.  There is an inflationary bias in pricing because some of the printed money inevitably leaks through the primary dealers, et al., and is passed down the line.  While it is largely contained, it is absolutely not fully contained.