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Soaring Food Inflation Full Frontal: Beef, Pork And Shrimp Prices Soar To Record Highs

Tyler Durden's picture




 

We previously noted that both beef and pork (courtesy of the affectionately named Porcine Epidemic Diarrhea virus) prices have been reaching new all time highs on an almost daily basis. It is time to update the chart. Below we show what a world in which the Fed is constantly lamenting the lack of inflation looks like for beef prices...

 

... pork

 

... and shrimp.

More from Bloomberg:

Prices for shrimp have jumped to a 14-year high in recent months, spurred by a disease that’s ravaging the crustacean’s population. At Noodles & Co., a chain with locations across the country, it costs 29 percent more to add the shellfish to pastas this year, and shrimp-heavy dishes at places like the Cheesecake Factory Inc. are going up as well.

 

Restaurant chains, already struggling with shaky U.S. consumer confidence, are taking a profit hit as prices climb. Even worse, the surge is happening during the season of Lent, when eateries rely on seafood to lure Christian diners who abstain from chicken, beef and pork on certain days.

 

“It’s coming at a tough time for the industry,” said Andrew Barish, a San Francisco-based analyst at Jefferies LLC. “With the Lenten season, what you’ll see out there is a lot of promotions with seafood, and usually shrimp is a big part of that.”

 

In March, shrimp prices jumped 61 percent from a year earlier, according to the U.S. Bureau of Labor Statistics. The climb is mainly due to a bacterial disease known as early mortality syndrome. While the ailment has no effect on humans, it’s wreaking havoc on young shrimp farmed in Southeast Asia, shrinking supplies.

 

***

 

James Johnson, a Jewel-Osco supermarket shopper in Chicago, has noticed the price increase. He’s been cutting back on one of his favorite dishes -- shrimp and potato soup -- because of the cost.

 

“I haven’t made it in a while,” the 29-year-old said. “Shrimp looks expensive.”

 

***

At Noodles, it now costs $3.34 to add the shellfish to a meal of pasta or pad thai, compared with $2.59 last year.

 

“We still want to at least offer it as choice,” Chief Executive Officer Kevin Reddy said in a phone interview. “As soon as the costs begin to normalize, we’ll return to the regular price.”

Ah yes, because retailers are always so willing to lower costs...

So for all those whose sustenance includes iPads and LCD TVs, or heaven forbid the pink slime known as fast food - you are in luck: the BLS' hedonic adjustments mean the rate of price increase in your daily consumption has rarely been lower. For everyone else: our condolences.

 

* * *

Update: Eggs too.


 

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Wed, 04/16/2014 - 01:29 | 4664126 Seer
Seer's picture

Sometimes it's all about perspective...

Anyone question the powers of Madison Avenue and Wall Street?

I blame the system.

Tue, 04/15/2014 - 17:36 | 4662867 duo
duo's picture

Feedlot beef and aquafarmed fish/seafood are equally bad for you, unless you survive on antibiotics.

Tue, 04/15/2014 - 18:01 | 4663002 ZerOhead
ZerOhead's picture

But isn't human sewage a great thing to grow the algae that feeds the shrimp? I mean like what could make you greener right?

Tue, 04/15/2014 - 21:28 | 4663674 Soul Glow
Soul Glow's picture

Nuclear waste.  Go green!

Wed, 04/16/2014 - 01:42 | 4664132 Seer
Seer's picture

Sometimes knowing biology is beneficial...

There really isn't anything wrong with this approach, in general.  It's happening anyway, nature is and has been doing it since the beginning of time.

Yes, there's a lot of "crap" in our "shit."  Eventually we'll clean up, in which case our "shit" will be good "shit."  Jenkins makes this point in his book on Humanure:

http://humanurehandbook.com/reviews.html

The term "night soils" is, I believe, from China.  Had to do with disposing of human waste directly on the adjacent fields: soils HAVE to be built back up.  I suspect that stir-fry came to be the means by which they averted food illness: most pathogens are killed in fairly short order at temps of 160 degrees F; even quicker at higher temps.

More folks need to take a tour of waste-water treatment plants to understand how energy and resource intensive it is.  And note that many plants turn around and sell the processed "shit" back to you as compost!  Yes, send shit out and get it back!  That nice bag of compost that you've just picked up from the store so that you can plant your nice "healthy" vegetables might be from...

Wed, 04/16/2014 - 03:21 | 4664214 Serenity Now
Serenity Now's picture

I just finished a book about North Korea that had the phrase "night soils" in it.  I had never heard of that phrase before.  Most of us (including myself) have no idea what famine is.

Tue, 04/15/2014 - 17:37 | 4662870 SirTaxedAlot
SirTaxedAlot's picture

You can always substitute Spam or Steak'ems.

Tue, 04/15/2014 - 17:38 | 4662881 NotApplicable
NotApplicable's picture

Don't forget squirrel!

Tue, 04/15/2014 - 17:57 | 4662976 Rainman
Rainman's picture

...and duck jerky ..yum

Wed, 04/16/2014 - 01:44 | 4664137 Seer
Seer's picture

Duck jerky?  Can you give me a pointer to info? (I suppose that I could go research for myself, but sometimes it's nice to have someone steer you in the right direction.)

Tue, 04/15/2014 - 21:15 | 4663629 intric8
intric8's picture

I eat beef ALL the time. Beef flavored instant noodles, that is

Wed, 04/16/2014 - 01:47 | 4664139 Seer
Seer's picture

I'll NEVER forget seeing a food case dish display of Spam when in Manila.  I found this so "fascinating" that I took a picture of it (just to verify what my eyes had seen)!

Wed, 04/16/2014 - 03:23 | 4664218 Serenity Now
Serenity Now's picture

It's a staple in Hawaii.  Even McDonald's sells it.  

Tue, 04/15/2014 - 17:37 | 4662875 besnook
besnook's picture

easy to explain. there is the seafood radiation tax and the beef tortoise tax. someone has to pay.

Tue, 04/15/2014 - 17:38 | 4662878 oklaboy
oklaboy's picture

inflation? what inflation? price should be dropping after all of those missing cows in NV hit the market.

Tue, 04/15/2014 - 17:39 | 4662886 goBackToSleep
goBackToSleep's picture

Looks like it's tubesteak for my bitchez!

Tue, 04/15/2014 - 17:40 | 4662888 John Law Lives
John Law Lives's picture

I have a friend who recently went to a local restaurant and ordered a cup of crab bisque.  When the crab bisque was served, he noted there there was no visible sign of crab meat.  He asked the server where the crab meat was, and he was told the crab bisque was made with the "essence" of crab... (100% true story)

I suppose what were are experiencing (according to the Fed) is the "essence" of inflation vs. real inflation.

FedFUBAR.     

Tue, 04/15/2014 - 17:41 | 4662895 oklaboy
oklaboy's picture

great idea...maybe we can pay our taxes with essence of cash?

Tue, 04/15/2014 - 17:50 | 4662920 John Law Lives
John Law Lives's picture

He told me he considered leaving that server the "essence" of a tip, but he realized it wasn't the server's doing to be chintzy on crab meat.  He never went back to that restaurant (which is in the DFW area).

Tue, 04/15/2014 - 17:58 | 4662986 oklaboy
oklaboy's picture

I Galeston, shrimp was 5.99 a lb iniFebuary, and it today 5.99. boats coming in with full loads. But beef, that's climbing here.

Tue, 04/15/2014 - 18:04 | 4663013 NotApplicable
NotApplicable's picture

Okay, that's got the Corexit side of the spread covered. Now, who's up in the PNW with the Cesium results?

Tue, 04/15/2014 - 19:38 | 4663315 Landrew
Landrew's picture

I have something for you. I just measured some Alaskan king crab shells with my ultra low background germanium detector. The only thing I found to my surprise a K-40 peak and that was it. I ran the test and counted for three days.

Tue, 04/15/2014 - 18:10 | 4663024 John Law Lives
John Law Lives's picture

Speaking of sticker shock, I have seen ~$3.59 per gallon for regular unleaded gasoline this week at several places in DFW.  That is sharply higher over the previous month.

I imagine beef prices are surging, but I rarely ever buy it.  North Texas and western Oklahoma are in a serious drought condition these days.  It is tough on cattle farmers.

http://droughtmonitor.unl.edu/Home/RegionalDroughtMonitor.aspx?south

 

Tue, 04/15/2014 - 21:37 | 4663702 TruthInSunshine
TruthInSunshine's picture

"Essence of crab." Bernanke got a boner hearing that.

eel fart soup is all the rage in Tokyo, I hear. Go! Abe-nomics! Go! Kuroda-san!

Tue, 04/15/2014 - 20:22 | 4663494 venturen
venturen's picture

You are paying with essence of money...it is call US Dollars

Wed, 04/16/2014 - 02:17 | 4664165 Seer
Seer's picture

Yeah, but do you really want to get that smell on your hands?

Tue, 04/15/2014 - 17:45 | 4662905 db51
db51's picture

Essence of beef...coming to a grocery store near you.   lmao

Tue, 04/15/2014 - 17:50 | 4662931 Soul Glow
Soul Glow's picture

Essence of beef - a new cologne from Janet Yellen.  Spray and pretend you aren't hungry.

Tue, 04/15/2014 - 21:05 | 4663593 Intoxicologist
Intoxicologist's picture

Essence of Slider:

http://www.perpetualkid.com/white-castle-candle.aspx

I've seen it all now....

Wed, 04/16/2014 - 03:32 | 4664228 Serenity Now
Serenity Now's picture

Just for clarity, and I do hesitate to even bring this up, but bisque isn't supposed to have meat in it.  It's smooth and creamy, and it is in fact made from cooked-then-strained seafood that isn't quality enough to be sold on the market.  So it is kind of made from the essence of the seafood, not including the actual seafood.

I don't even know how I know this, as I prefer Cheetos to anything seafood.  But it's true, nevertheless.  I used to watch a lot of cooking shows on PBS.

Tue, 04/15/2014 - 17:41 | 4662893 Ariadne
Ariadne's picture

Harvest some NYC bums (seen Corzine?)

 

Tue, 04/15/2014 - 17:46 | 4662917 Soul Glow
Soul Glow's picture

Free Corzine!

Tue, 04/15/2014 - 19:58 | 4663388 wee-weed up
wee-weed up's picture

Is that the Wall Street equivalent to a free-range chicken?

Tue, 04/15/2014 - 17:42 | 4662894 pcrs
pcrs's picture

Quick seize all cattle

Tue, 04/15/2014 - 17:43 | 4662901 Shameful
Shameful's picture

Is it me or is everything consumable suffering from some sort of disease or drought to explain price increases?  Glad to know it's not the base money supply increasing that causes prices to rise...

Tue, 04/15/2014 - 18:06 | 4663020 NotApplicable
NotApplicable's picture

Sadly these things go hand in hand, as currency destruction undermines everything in search of the fabled ROI.

Tue, 04/15/2014 - 18:55 | 4663179 krispkritter
krispkritter's picture

Local ad for 'Top Soil' is now a 3/4cf bag instead of the 1cf last year that was .20 cheaper.  Even dirt's more expensive and I expect they'll be shipping it here from Japan soon.  'Look honey! Our tomatoes are absolutely glowing!'

Tue, 04/15/2014 - 20:11 | 4663447 TruthInSunshine
TruthInSunshine's picture

The Fukushima Hothouse Tomato is all the rage now.

Tue, 04/15/2014 - 19:56 | 4663377 alangreedspank
alangreedspank's picture

Yes, it of course has nothing to do with that. In the world of economic academia, the Fed has nothing to do with record low rates on the 10Y bond because they only control short term rates, the 10Y yield is a consequence of a slow economy. The Fed has nothing to do with the stock market rally of 2009-now also, because this is simply a consequence of a strong recovering economy. And beef price ramps have nothing to do with Fed short term rate policy even though the last two major ones correlate pretty damn good with record low fed fund rates. (2001, started to go on a downward trend in 2005 when rates where starting to be ramped up and 2009, when well, we know what the Fed did there).

http://www.indexmundi.com/commodities/?commodity=beef&months=360

 

Tue, 04/15/2014 - 17:45 | 4662908 Soul Glow
Soul Glow's picture

My friend told me the other day his food costs are not increasing, then he went on to say he only buys the cheapest items.  So it was my facts against his diarrhea.

Tue, 04/15/2014 - 17:48 | 4662926 RafterManFMJ
RafterManFMJ's picture

Sounds like your facts are now moist, brown, and stinky.

Tue, 04/15/2014 - 17:47 | 4662919 Conax
Conax's picture

 

I love beef so much I bought me a whole steer.  He's like a puppy, and follows me around the yard.  When prices went up I decided to eat him.  (Saved a fortune that week)  Not having the heart, I just had the vet get one leg off for me.  He still gets around pretty well.
His old name was Arnold, but now I just call him Tripod.

Another economic tearjerker, everybody thank Janet!

Tue, 04/15/2014 - 17:50 | 4662936 RafterManFMJ
RafterManFMJ's picture

That really isn't how you butcher a cow. I feel sorry for its pain.

Tue, 04/15/2014 - 17:53 | 4662952 Conax
Conax's picture

Aw, c'mon.. ;)

Tue, 04/15/2014 - 18:08 | 4663034 NotApplicable
NotApplicable's picture

You might want to check the batteries in your Truthiness detector.

Tue, 04/15/2014 - 18:52 | 4663170 RafterManFMJ
RafterManFMJ's picture

Some cannot penetrate the screens of my Romulan Sarcasm Cloaking Device. Is high tech.

Tue, 04/15/2014 - 21:40 | 4663707 TruthInSunshine
TruthInSunshine's picture

We had a tripod Hereford and called her Ilene.

Tue, 04/15/2014 - 23:24 | 4663970 RafterManFMJ
RafterManFMJ's picture

We had one heifer my sister named 'Jolly.' They practically grew up together. We butchered her one Fall, and with every Jolly steak we ate, the tears rolled down her face.

Never forget her eyes brimming with tears, while her mouth brimmed with Jolly and A1.

Good times!

Wed, 04/16/2014 - 02:24 | 4664173 Seer
Seer's picture

When I was a kid I recall my dad naming one of our cattle "Chucky."  I don't name my food: I'm worried about the karma/reincarnation thing...

Tue, 04/15/2014 - 17:55 | 4662966 robertocarlos
robertocarlos's picture

The heart is the best part, ask any big cat. 

Wed, 04/16/2014 - 02:24 | 4664174 Seer
Seer's picture

Or ask Bruce Lee...

Wed, 04/16/2014 - 02:20 | 4664171 Seer
Seer's picture

That's some seriously funny stuff!  Thank god I was between sips of coffee!

Tue, 04/15/2014 - 17:50 | 4662932 Just Observing
Just Observing's picture

Got acre of garden, small orchard, couple greenhouses, chickens in coop, catfish in two ponds, two feeder pigs in their lot, and 4 Dexter cows ( beef/milk ).   Ask me if I give a shit what food prices do. 

Tue, 04/15/2014 - 17:52 | 4662945 Soul Glow
Soul Glow's picture

And then feed the chickens whey from the cows, use the chicken shit as fert for the veggies, and sit back and enjoy a bounty crop.  That's farming.

Tue, 04/15/2014 - 19:06 | 4663211 krispkritter
krispkritter's picture

My fish eat leftover greens and duckweed that grows in shallow pools, they feed the veggies growing above, and in turn become food. Chickens eat the bugs and worms from the beds plus greens(including duckweed), produce eggs and meat. I don't currently have the room for cows but I do for goats so those would provide milk and meat off the forage on my acreage so I'll be adding those.  Other plantings provide fruits, berries, veggies, etc. It's a workin progress...food progress.

Tue, 04/15/2014 - 17:54 | 4662959 RafterManFMJ
RafterManFMJ's picture

Hey Giggles sounds to me you're ripe for the confiscatin'. You benefited from life's lottery and should those less fortunate need, and they will, you'll have to contribute your food and or labor.

The legislation's already been passed.

Ask not what your cuntry can do for you, ask instead what you at bayonet point can do for your cuntry.

Tue, 04/15/2014 - 18:12 | 4663044 NotApplicable
NotApplicable's picture

Especially if he paid for those greenhouses with those USDA grants everyone keeps telling me I should get.

Which, of course, I didn't.

Fukushima Dome is a privately funded endeavor.

Tue, 04/15/2014 - 18:35 | 4663118 NuckingFuts
NuckingFuts's picture

We already had two high tunnel green houses when the grants came out... Now we hobbiest competing with us for the same market using .gov monies. Gotta love that. It the plastic that will cost you and most is rated for four years so the mrs. And I predict skeletons of these things dotting the countryside for decades to come. They are nice, if nothing else they keep the deer out. We then invested in a 12K sq. ft. Monster and I sell about 1000 worth of produce a week out of it when it is humming along niclely.

Wed, 04/16/2014 - 02:32 | 4664176 Seer
Seer's picture

Doesn't sound like you're able to do the Salatin grazer-follower model :-(  It's good for keeping parasite loads down for the cows/cattle.

"Ask me if I give a shit what food prices do."

If you've only got 4 cows then I'm thinking you don't have a bull on the premise.  There is an issue of "replacement" cost...

Tue, 04/15/2014 - 17:53 | 4662948 robertocarlos
robertocarlos's picture

WWI brought us the Soy Sausage. The Germans invented it. They had difficulty at the patent office though because to be called a sausage it had to contain meat.

Tue, 04/15/2014 - 17:56 | 4662973 RafterManFMJ
RafterManFMJ's picture

My sausage is 100% meat. If you ask nicely I might display it for inspection or fondling.

Tue, 04/15/2014 - 18:08 | 4663032 robertocarlos
robertocarlos's picture

Did the butcher trim it. Some people only eat Kosher meals.

Tue, 04/15/2014 - 19:09 | 4663221 krispkritter
krispkritter's picture

Ah, you mean these...

Tue, 04/15/2014 - 17:53 | 4662951 FoodStampPrez
FoodStampPrez's picture

The price of limes has also skyrocketed to over $120 a case (wholesale)...this isn't inflation though, you can always suck on a rock.

 

http://www.wacotrib.com/news/business/high-lime-prices-wreaking-havoc-on...

Tue, 04/15/2014 - 17:53 | 4662953 Dingleberry
Dingleberry's picture

"Repeat after me, bitchez....unless there is WAGE inflation......then there is NO inflation!"

 

--Uncle Ben and Auntie Janet

Tue, 04/15/2014 - 17:54 | 4662961 buzzsaw99
buzzsaw99's picture

The real inflation is in the decline of quality. Lots of stuff just doesn't appeal to me anymore because it is crap and getting crappier by the day.

Tue, 04/15/2014 - 18:21 | 4662996 robertocarlos
robertocarlos's picture

I ate a nice porterhouse last week and it was $16 a kilo. The filet part was large. Usually the filet on a sale price T-bone is one inch square.

I over-cooked it so that was not so good.

Tue, 04/15/2014 - 19:09 | 4663219 Abitdodgie
Abitdodgie's picture

So $16 a kilo but is that Iowa corn fed on MON810 with 3000ppm of Gyphosate yes you will go stirile eating it because of the higher ppm , last year it was only 240ppm . Or was is pasture only fed with NO injections or treatments , now there is really a differance.

Tue, 04/15/2014 - 20:12 | 4663453 robertocarlos
robertocarlos's picture

It's factory garbage but I'm used to it. Grass fed beef is around 50 dollars a kilo for top sirloin. Probably $75 for T-bone.

Tue, 04/15/2014 - 21:44 | 4663722 Dingleberry
Dingleberry's picture

I spend 20 bucks for a pound delmonico grass fed.

I spend 8 bucks for a gallon of real, non-pus-non-antibiotic milk.

 

No such thing as cheap food.

If it's cheap, it ain't food.

 

Spend the money. You're worth it.

Wed, 04/16/2014 - 02:42 | 4664185 Seer
Seer's picture

"The real inflation is in the decline of quality."

"inflation" + "decline" ... I think that we're in the WTF moment in time...

While we find this hard to chew we can take solice in knowing that home prices are cheaper!  Many components of the home are edible (just ask the termites, mice, rats, roaches)! </sarc>

It's worth looking at the FRED currency in circulation chart:

https://research.stlouisfed.org/fred2/series/WCURCIR/

It's like printing paper to just toss into the trash can.  The holes in banks' balance sheets are so huge that most all is going to (try to) fill them, leaving little to actually do work in the real world.

Wed, 04/16/2014 - 03:45 | 4664237 Serenity Now
Serenity Now's picture

Yes, decline of quality is a real problem.  I ate at a local steak place this past weekend, and the steak was surprisingly excellent.  The mashed potatoes and bread were horrible, however.  How hard is it to make good mashed potatoes and serve good bread and butter?  Most restuarants don't even try.  My husband and I rarely eat out, but when we do, we are almost always disappointed.  

Mon, 04/21/2014 - 21:32 | 4681403 ForTheWorld
ForTheWorld's picture

I'm a little late to the game on my reply, but soil depletion is a major factor in this. I'm coming around to the belief (through years of first hand experience with my own small scale ventures) that as nutrient content of the soil diminishes, even the basics like wheat and potatoes lose the vital components that make them taste great. Same with plantation timber, grasses for cattle etc. Without the raw materials (grass, wheat, potatoes in this instance) being of a consistently high quality, the result is a nutritional wasteland further down the line as each item is processed.

Tue, 04/15/2014 - 17:57 | 4662971 yogibear
yogibear's picture

The government and Federal Reserve will just keep touting 2% inflation when food is going up 50%.

No mistake here, all by design. Keep the masses pacified by telling them everything is fine and it's just your imagination.

Never mind that toilet paper has been shrinking and that box of pasta is now 12 ounces instead of 16 ounces.

Like boiling the frog slowly.

 

 

Tue, 04/15/2014 - 18:14 | 4663052 NotApplicable
NotApplicable's picture

Our toilet paper at work recently got skinnier. At first, I thought my hand had grown larger.

Wed, 04/16/2014 - 02:50 | 4664191 Seer
Seer's picture

Eat less pasta=> shit less.  Problems solved! </sarc>

Regardless of whether this is managed or not it is the ONLY direction that things can head (increased world-wide demand vs resource base).

Most of the world has been familiar with all of this for some time (if not forever).  For some perspective, consider that there are 750 million people in India living on $0.50/day.  Meanwhile the radio is blasting an ad for Viagra... "for less than $3/pill!"

Tue, 04/15/2014 - 17:58 | 4662983 surf0766
surf0766's picture

We can fix this with a tax on cow farts !

Forward Progressives !

Tue, 04/15/2014 - 20:06 | 4663423 wee-weed up
wee-weed up's picture

Hillary won't like having to pay extra.

Tue, 04/15/2014 - 17:57 | 4662984 kurt
kurt's picture

Problem Solved:

Don't pay for any cut of meat over $3.50/lb.. Vote with your wallet. Meat Rots. This is the only "representation" you have left! Just don't pay it.

The idiots behind the orchestrated price increase don't remember P X Q price times QUANTITY. Guess what dummies, Price time Quantity. One OR the other goes up and you can make money. If we don't pay more than $3.50/lb, your going to have to get your cost structure under control. How you do that is fight the cabal of hedge funds in court, or jail, now.

Wed, 04/16/2014 - 03:00 | 4664195 Seer
Seer's picture

"Don't pay for any cut of meat over $3.50/lb.. Vote with your wallet. Meat Rots. This is the only "representation" you have left! Just don't pay it."

I'm thinking that the pursuit of "cheap food" is kind of what got us to this point...

You cannot get blood out of a turnip.  Cattle industry was suffering losses on every head for quite some time: economic instability caused a lot of heartache in a very sensitive industry.  Hold back purchases will result in them dumping, and while that might get you a better price today, I'll assure you that tomorrow it won't be possible because there will be a loss on margins from reduced scales of ecomomy.  When there's lots of cow culling that means that the future is going to be rough, as it takes many years to build back cow herds.

I think that this sums up what I think of your "solution:"

The chief cause of problems is solutions. - Eric Sevareid

Wed, 04/16/2014 - 04:50 | 4664285 kurt
kurt's picture

Nope, you can't get blood out of a turnip but you can sure get shit out of an asshole.

 

Your Wallet Is Your Last Vote

Tue, 04/15/2014 - 18:00 | 4663000 Freewheelin Franklin
Freewheelin Franklin's picture

Time to start buying bulk. I got a Jetro card. Need a chest freezer. 

 

http://jetro.com/

Tue, 04/15/2014 - 18:39 | 4663126 farmerjohn2112
farmerjohn2112's picture

Think they'll deliver to the bush in Alaska?

Long moose jerky...

Tue, 04/15/2014 - 18:03 | 4663010 yogibear
yogibear's picture

"Repeat after me, bitchez....unless there is WAGE inflation......then there is NO inflation!"

Obama and the Federal Reserve desperately  want price inflation. It's why their raising the minimum wage. They'll keep trying to force inflation.

 

How about Russia and China start a movement to dump US dollar. Hyperinflation helped Hitler to get into power. Desperate people believe anyone that gives them hope.


Tue, 04/15/2014 - 21:51 | 4663733 Dingleberry
Dingleberry's picture

If they wanted wage inflation, that would be simple: report the REAL inflation numbers (not the masterbated ones) and those millions with gov jobs and on SSA, etc. will get automatic COLAs to match,  with the private sector to follow. 

The fed does not want that. The last time it got that, the shit got out of hand and rates had to go to double digits. Back then, unions were in force and got COLAs too.

The fed wants asset price inflation to bail out the banksters and their derivatives. That's all.

We already have price inflation, hence the article. It's just being lied about for obvious reasons.

 

Tue, 04/15/2014 - 18:07 | 4663018 kchrisc
kchrisc's picture

"Soaring Food Inflation Full Frontal: Beef, Pork And Shrimp Prices Soar To Record Highs"

Can't be, because the propaganda media told me this:

Inflation ticks up, pointing to an improving U.S. economy Today's Headlines 4/15/2014  

(Bloomberg) — Consumer prices accelerated in March as Americans paid a bit more for food and rent, adding to signs that demand is improving in the world’s largest economy...

Rents may continue to climb as more households, who are just starting to recover from the collapse in home prices, forgo ownership and instead turn to leasing properties.http://www.chicagobusiness.com/article/20140415/NEWS07/140419858/inflati...

 

And here, http://washingtonexaminer.com/article/2547228 , one can learn that in Oregon pressures on wages are because there are supposedly 10,000 positions going begging to be filled. So unemployment is causing inflation.

I smell a "spin sell" on the inflation you all are seeing in the grocery store and elsewhere.

"Because of improving demand for and rent, the cost of my next guillotine is going to be 15% higher."

Wed, 04/16/2014 - 03:05 | 4664200 Seer
Seer's picture

Yes, the fear is a run on guillotines...  and, really, it's very thoughtful of them to be concerned about us potentially harming ourselves in some mad dash to clear the guillotine shelves.

Tue, 04/15/2014 - 18:12 | 4663045 kchrisc
kchrisc's picture

People still eat shrimp after what was done to the Gulf of Mexico by BP? I am talking about the chemical, Corexit, they used to obscure the oil evidence.

 

Tue, 04/15/2014 - 20:32 | 4663520 venturen
venturen's picture

you are aware that oil comes from nature...right?

Tue, 04/15/2014 - 21:44 | 4663727 TruthInSunshine
TruthInSunshine's picture

So does nightshade & uranium, but I don't marinate & season my steak with either.

Wed, 04/16/2014 - 03:09 | 4664204 Seer
Seer's picture

Sigh, thank you for being patient enough to be tactful.  I was inclined to respond with an array of expletives (and in-person it would have been hard to contain the club).  One day I expect that statements such as you're responding to will be more readily managed through darwinism...

Tue, 04/15/2014 - 18:12 | 4663046 sschu
sschu's picture

From a blog post by a 0-hedge fav:

11 He said, “This is what the king who will reign over you will claim as his rights: He will take your sons and make them serve with his chariots and horses, and they will run in front of his chariots. 12 Some he will assign to be commanders of thousands and commanders of fifties, and others to plow his ground and reap his harvest, and still others to make weapons of war and equipment for his chariots. 13 He will take your daughters to be perfumers and cooks and bakers. 14 He will take the best of your fields and vineyards and olive groves and give them to his attendants. 15 He will take a tenth of your grain and of your vintage and give it to his officials and attendants. 16 Your male and female servants and the best of your cattle[c] and donkeys he will take for his own use. 17 He will take a tenth of your flocks, and you yourselves will become his slaves. 18 When that day comes, you will cry out for relief from the king you have chosen, but the Lord will not answer you in that day.”

 

Claim as rights.  It is all so predictable.

sschu

 


Tue, 04/15/2014 - 18:58 | 4663190 fukidontknow
fukidontknow's picture

 

 

Samuel 8:11-18

The Old Testament 

Tue, 04/15/2014 - 19:09 | 4663224 ILLILLILLI
ILLILLILLI's picture

Wow...good thing there aren't any people that follow the OT...!

 

Oh, wait...

Tue, 04/15/2014 - 19:48 | 4663353 Seek_Truth
Seek_Truth's picture

You’re missing the context of that scripture. It is from 1 Samuel chapter 8, and the preceding verses give the context. The Israelites are asking for a King (other than God) so they can be “just like the nations around them”, and God is telling them that they have it better the way they are, without a human King. God then tell Samuel to let Israel know what bad things will happen if they stubbornly appoint a King over them. 

Here  are the preceding verses proving the context:

When Samuel grew old, he appointed his sons as Israel’s leaders.[a] The name of his firstborn was Joel and the name of his second was Abijah, and they served at Beersheba. But his sons did not follow his ways. They turned aside after dishonest gain and accepted bribes and perverted justice. (Sound familiar?)

So all the elders of Israel gathered together and came to Samuel at Ramah. They said to him, “You are old, and your sons do not follow your ways; now appoint a king to lead[b] us, such as all the other nations have.”

But when they said, “Give us a king to lead us,” this displeased Samuel; so he prayed to the Lord. And the Lord told him: “Listen to all that the people are saying to you; it is not you they have rejected, but they have rejected me as their king. As they have done from the day I brought them up out of Egypt until this day, forsaking me and serving other gods, so they are doing to you. Now listen to them; but warn them solemnly and let them know what the king who will reign over them will claim as his rights.” – 1 Samuel 1-9

Tue, 04/15/2014 - 20:42 | 4663541 sschu
sschu's picture

We agree.  

Truth is truth.

sschu

Wed, 04/16/2014 - 03:11 | 4664206 Seer
Seer's picture

Who could imagine a top-down hierarchy delivering such? </sarc>

No gods no masters...

Wed, 04/16/2014 - 10:13 | 4664863 sschu
sschu's picture

Everyone has a master (you are a slave), it is really a matter of which one you select.  Romans 6.  

sschu

Tue, 04/15/2014 - 18:19 | 4663048 robertocarlos
robertocarlos's picture

Issue ration coupons for gasoline and beef. 

Beef is up around 25% the las few months.

Tue, 04/15/2014 - 18:18 | 4663063 max2205
max2205's picture

Jamie got a beef with this

Tue, 04/15/2014 - 18:19 | 4663065 I Write Code
I Write Code's picture

The chickens have already won.

Tue, 04/15/2014 - 18:35 | 4663117 infinity8
infinity8's picture

BBQ'd free-range chicken legs and thighs tonight. The last time ('07? '08?) there were a lot of food inflation headlines, I didn't really see it in my area except for coffee and dairy. This time is different and I'm seening it almost across the board. I'm in a town that isn't attached to any other town. Not a suburb of anywhere, completely surrounded by ranches and farms. So I gotta assume I have it better than some other places.

Tue, 04/15/2014 - 19:32 | 4663300 MaxMax
MaxMax's picture

Last few months, I noticed that the grocery store roasted chickens got much smaller - probably about 3 lbs from the previous 4-5 lbs.  All of the stores around here now have these little tiny chickens - and of course the price is the same.  What's next?  Selling fertlized eggs?

Wed, 04/16/2014 - 02:14 | 4664161 AgentScruffy
AgentScruffy's picture

After 2008 I noticed the 1/3 pound burger at the local Fuddrucker's was noticeably smaller. Several months later, smaller yet. Few months after that, smaller again. Wondered "How small can a 1/3 pound burger get?"

Wed, 04/16/2014 - 03:14 | 4664212 Seer
Seer's picture

But, is it quality?  I mean, a 1/16 lb quality burger has to be better than a 1/3 lb shitty one, yes?

Latest lead prices are $0.94/lb USD.  Pretty cheap to bump that weight up...  Always be careful about cries for more lead! </sarc>

Tue, 04/15/2014 - 18:22 | 4663075 Bankstein Swiss...
Bankstein Swissgoldberg's picture

it would be pretty charitable to rig dowm these markets. Bill Gates, where are you? I believe you have the power and technology for that. Just tip politicians ... huh, already did that?

Tue, 04/15/2014 - 18:23 | 4663080 BiteMeBO
BiteMeBO's picture

Eat Gold!  No inflation.  

Tue, 04/15/2014 - 18:34 | 4663099 hotrod
hotrod's picture

HOw about TAX Inflation, which M/Armstrong says really is deflationary BUT here in the state of Georgia we have a new Auto yearly Ad-valorem.  We used to pay yearly on an assessed car value. NOW, if you live here or move to the state you pay 5 years up front on the state assessed value of your car.

So when you pay it, if for some reason you sell it in one year or total it, your 5 years of TAX went to the State.  If I sell my car to a private buyer he pays the 5 years upfront even though I just paid it.  So if you move to Georgia with 3 cars know that you will pay 15 years (aggregate) upfront.  My mother just moved here and has a 2009 honda which she planned to sell but had to pay the 5 years up front.  She is 83 and furious as the tag office guy just smirked as she forked over $1100 for five years. She told the guy that she might only live one more year.

Tue, 04/15/2014 - 20:56 | 4663573 cherry picker
cherry picker's picture

It isn't tax inflation, I call it robbery.

Does Georgia give you a list of all the services and such you get with your tax dollar?

I wish the citizens would get enough guts and stop paying tax for a bit, maybe it will force a correction like the rigged markets and so on.  I would like to see golden parachutes, expensive consultants, war toys and more just vanish.  Then the NSA and CIA and others with unprintable budgets need to be dissolved as these organizations cause a lot more trouble than they prevent.

I feel bad for your mom, at 83 forking over $1,100 just because she has a set of wheels.

Wed, 04/16/2014 - 03:24 | 4664220 Seer
Seer's picture

If you think that's bad then try buying and operating a vehicle down in the Philippines.

My wife's mother at the age of 83 was taking buses and jeepneys (and such): I"m not aware that she ever drove, let alone "owned" a car.

Tue, 04/15/2014 - 18:36 | 4663120 SmittyinLA
SmittyinLA's picture

Move along, nothing to see here, the sale of 25% of all US hog & Hog feed production sold to 1 Chinese company isn't the cause of your food inflation, its all in your head. 

Tue, 04/15/2014 - 18:50 | 4663163 El Hosel
El Hosel's picture

As long as the "Regular" people don't ask for ( and get ) wage increases to pay for higher priced food its not inflationary.... Move along.

Wed, 04/16/2014 - 03:36 | 4664230 Seer
Seer's picture

The industries held back raising prices as long as they could.  Many companies weren't able to see the return on the "up cycle" and were sold.

We demanded cheap food, so now we get it.  Iit was NEVER cheap, it's just that we refused to pay more for it so this is how it has ended up.  And as is typical (from reading here) people blame everything else but themselves...  But look on the bright side, now we get a first hand look at what US companies have been doing abroad for countless number of decades!  And, as I warned a crowd when I was speaking out against enthanol production, this will ONLY lead to selling out one's lands (and land is the MOST precious thing).

If there's a "solution"/"strategy" it would be to support local farmers/ranchers who are based on more natural means of production: don't have to, pardon the pun, go "whole hog," just shift a bit here and there, as that will remove sales growth from the biggies.  No corporation (Chinese or otherwise) can manage at these levels.  I'm banking on the prices from corporate foods to rise up closer to that of local; and at some pint the big corporate structure's economies of scale will collapse.  It'll be painful, but that's how it will play out (I see and go with the flow).

Tue, 04/15/2014 - 18:51 | 4663167 evernewecon
evernewecon's picture

 

 

All the more reason to 

start replacing GMO's

looking inadequately tested

with staple products that

can't be overrun, especially

if there's any chance 

someone's going to be afraid

to eat the fish.

 

 

 

No intimations as to 

cause and effect--just 

linking informationally.

 

 

(By-product)

http://pages.citebite.com/x1s8h0n0e8ksr

 

 

 

 

http://www.dw.de/pesticide-illness-triggers-anti-monsanto-protest-in-arg...

 

 

 

 

https://duckduckgo.com/?q=Weill+and+leaky+gut+syndrome+for+you+to+correl...

 

 

 

http://pages.citebite.com/x2u2b3s3a7qyi

 

 

 

https://duckduckgo.com/?q=pigs%20stomachs%20gmos%20australia&kl=us-en&kd=-1

 

 

 

http://www.centerforfoodsafety.org/video/2519/cfs-videos/ge-food

 

 

 

https://duckduckgo.com/?q=sheep+goats+buffalo+gmo%27s+india

 

 

 

I'm clueless as to underlying facts:

 

http://the-secret-to-success.org/2013/03/livestock-farmers-using-gmo-gra...

 

 

 

 

http://www.theatlantic.com/health/archive/2012/01/the-very-real-danger-o...

 

 

 

http://www.nature.com/cr/journal/v22/n1/full/cr2011158a.html

 

 

 

Amer. Academy of Env. Med.

http://pages.citebite.com/a2r1f8f7f6gei

 

 

 

http://www.centerforfoodsafety.org/issues/311/#

 

 

 

 

http://responsibletechnology.org/glutenintroduction

 

 

 

http://www.drweil.com/drw/u/QAA361058/what-is-leaky-gut.html

 

 

 

http://www.mdpi.com/1660-4601/11/2/2125

 

 

The influence of the gut 

population on the rest of the

body, including pathic, and of 

leaky gut, is an area

just recently exploded in 

interest and work.

 

 

 

Tue, 04/15/2014 - 18:55 | 4663184 rsnoble
rsnoble's picture

We could easily crash shrimp prices with a geiger counter and youtube video.

Tue, 04/15/2014 - 18:56 | 4663187 rsnoble
rsnoble's picture

And of course since everyone will look for cheaper items those will go up as well.  Anything 'cheap' is an area of concentration to fuck us on.

Tue, 04/15/2014 - 19:04 | 4663207 trader1
trader1's picture

watch out for the price of seafood to trend exponentially over the next 100 years.

there may not even be any more edible seafood other than the genetically modified kind, if ever approved by the fda.

mmmm, tasty ;-)  

 

Wed, 04/16/2014 - 03:39 | 4664232 Seer
Seer's picture

Good, and bad...

The Good is that in the future we won't have this problem to worry about.

The Bad is that we won't likely be around in another 100 years (I'm thinking that entropy is going to be chomping on a LOT of infrastructure, especially the military kind- maybe give the aliens a good light show).

Tue, 04/22/2014 - 02:12 | 4681844 trader1
trader1's picture

we'll be around.  

where we'll live and how our dna will evolve are up for further debate.

Tue, 04/15/2014 - 19:31 | 4663297 Rising Sun
Rising Sun's picture

Cattle and hogs are well off their March highs.

 

As these tanks, so too will prices on store shelves - 3 months-ish to take effect typically.

Wed, 04/16/2014 - 03:42 | 4664233 Seer
Seer's picture

"As these tanks, so too will prices on store shelves - 3 months-ish to take effect typically."

Of course, employment numbers will decline, in which case "affordability" will still be an issue.

Drive prices down far enough and margins get crushed, leaving only entities with change in the pockets to pick up the failing companies: think Smithfield & China.  So, if you're in to that kind of thing...

Tue, 04/15/2014 - 20:13 | 4663462 Duc888
Duc888's picture

 

 

El Hosel: "As long as the "Regular" people don't ask for ( and get ) wage increases to pay for higher priced food its not inflationary.... Move along."

 

Yup, this asshat thinks minimum wage needs to be raised to $15 an hour.

http://robertreich.org/post/45333866908

and...

http://www.alternet.org/economy/robert-reich-7-reasons-why-minimum-wage-...

Fuck it, why stop there?  I'm self employed, Oblabla needs to pull another EO out of his ass and make it a law that I have to pay myself $250 an hour...

 

oh...wait...

 

 

 


Tue, 04/15/2014 - 20:15 | 4663469 robertocarlos
robertocarlos's picture

The best cuts of beef and pork are exported to China and Japan. Air freight. 747.

Wed, 04/16/2014 - 03:47 | 4664240 Seer
Seer's picture

Yeah, cause my little po-dunk meat shop has an airport out back and I see them carting that shit out on regular flights to China!

Tue, 04/15/2014 - 20:17 | 4663474 Duc888
Duc888's picture

 

 

"People still eat shrimp after what was done to the Gulf of Mexico by BP? I am talking about the chemical, Corexit, they used to"People obscure the oil evidence."

Hey, it's a preservative.   You can leave 'em out on the counter for a few weeks, the flies won't even touch 'em.

 

Double-Plus-Good.

Tue, 04/15/2014 - 20:26 | 4663508 Ban KKiller
Ban KKiller's picture

This Thursday we pick up some new chicks. One or two will be roosters. We eat them. The others lay eggs and eat scraps we get for free. The chickens also provide fertilizer which we put in our compost. We get our pig from the local guy and we see how the pig was raised and what it was fed. Beef we get from another local guy. Grass fed. We buy in bulk so it works out to be fairly priced, we think. Have freezer of course. 

Be subversive...grow something. 

 

So fuck you big stores/chain stores! Next is aquaponics!

Wed, 04/16/2014 - 03:56 | 4664249 Seer
Seer's picture

And there you go!

"Grass fed. We buy in bulk so it works out to be fairly priced, we think."

I think it best to know who is producing your food (at a minimum WHERE) and how your food is being produced.  It really is just like what the big purchasers have to do- they need to know these things in order to ensure their target quality and pricing.  On the small scale there's a LOT of people that don't do real good at keeping track of costs, and while this might provide you with a bargin today it comes at the cost of them not being around tomorrow: and keep in mind that start-up inefficiencies WILL catch up; this is why the Big Boys manage to keep going- they're not constantly reinventing the wheel.  Just as there are shitty big companies there's also shitty small-producers, watch out.

NOTE: be sure you're set up for management of that flock; it's not as easy as most think, and with animals you're tied down  (which is why I advocate getting a nice place because you'll be speding a LOT of time there).  I swear, my animals have a much better life than I do!

Tue, 04/15/2014 - 20:27 | 4663512 Civilization
Civilization's picture

An honest measure of inflation would include subsidies.

Wed, 04/16/2014 - 04:02 | 4664252 Seer
Seer's picture

We're subsidizing TODAY costs by externalizing on/to TOMORROW'S costs.  So I guess you could say that that's a subsidy...

Tue, 04/15/2014 - 20:38 | 4663534 elwind45
elwind45's picture

How is the middleman going to survive

Tue, 04/15/2014 - 20:49 | 4663561 Libertarian777
Libertarian777's picture

Dunno what you all smoking

If you substitute beef for shrimp

pork for beef

chicken for pork

and tree bark for chicken

and grass for tree bark

then you have DEFLATION!

need to print more yellen-bucks!!

</sarc off>

Tue, 04/15/2014 - 21:46 | 4663710 Emergency Ward
Emergency Ward's picture

"Tried him for murder, first degree
Judge's wife cried, let the man go free...
I am a back door man...
Well the men don't know but little girls understand...

When you come home you can eat, pork and beans
I eats mo' chicken, any man seen
I am a back door man
I am a back door man"

-- Howlin' Wolf, "Back Door Man"

Tue, 04/15/2014 - 21:06 | 4663595 donmindme
donmindme's picture

These food prices fluctuate too much. It'll seriously messes up the official inflation index.

It's time to remove beef, pork, shrimp prices from the inflation index calculations. 

 

Tue, 04/15/2014 - 21:07 | 4663599 mt paul
mt paul's picture

happy elephant 

marijuana bran muffins

 

after a couple of those

it's all good 

Tue, 04/15/2014 - 21:37 | 4663698 messymerry
messymerry's picture

Sadly, those are not available down here in Texas.  Of course, we do like our tea...

;-D

Tue, 04/15/2014 - 21:34 | 4663618 Peter Pan
Peter Pan's picture

Well we all know it takes at least 5 times more land to generate the same calories from meat as you would from plant matter.

Maybe it is a blessing in disguise for our health and our planet.

Then again we might revert to cannibalism like those two brothers in Pakistan who have been digging up corpses to eat them.

I am going to miss my T-Bone steaks and lamb chops.

I will probably overdose on chocolate.

Wed, 04/16/2014 - 04:08 | 4664259 Seer
Seer's picture

"Well we all know it takes at least 5 times more land to generate the same calories from meat as you would from plant matter."

And where does this come from?

Does this hold in the polar regions?

Some places plant matter just plain doesn't do too well.  That is, plant matter that humans aren't likely able to readily digest.  I suspect that this is why we're ominvores.

Broad brushes can be dangerous...

Mon, 04/21/2014 - 22:39 | 4681546 ForTheWorld
ForTheWorld's picture

One might suggest it's best to eat what is native, or grows best, for a given location. However, that would lead to a lot of unhappy campers.

Tue, 04/15/2014 - 21:27 | 4663671 22winmag
22winmag's picture

It's only a matter of time until food is worth it's weight in... silver.

Tue, 04/15/2014 - 21:32 | 4663687 BeetleBailey
BeetleBailey's picture

Grow your own...roll your own...load your own...stack your own....secure your own.

FUCK THIS SHIT!

Wed, 04/16/2014 - 04:11 | 4664262 Seer
Seer's picture

And if everyone is busy rolling their own, loading their own and securing their own then who is going to extract and mint the stackable stuff?

Wed, 04/16/2014 - 12:38 | 4665505 BeetleBailey
BeetleBailey's picture

"if everyone"....which will NEVER happen

Tue, 04/15/2014 - 21:37 | 4663699 yogibear
yogibear's picture

People need to put the blame on the Federal Reserve where it should exist. 

Rather than letting prices deflate and adjust the fed has decided they'll burn the little people.

Wed, 04/16/2014 - 04:18 | 4664268 Seer
Seer's picture

Yeah, if I were extremely powerful and wealthy I'd look to upset the status quo by messing with all the "little people!"

Maybe, just maybe, the question should be asked: what if there are forces at play that are beyond the total control of the omnipotent Fed?

Think!

Remove the Fed.  Remove ALL govt.  Where does the debt go?  And, how are necessary resources going to be obtained when there's no longer the ability to support the "economies of scale" world that we've come to depend on?  As an example, snail mail is only remotely possible because of JUNK mail- the junk mail dries up (well, because it's junk, no one really wants it) and all of a sudden that snail mail has to take on a much higher price-tag: of course, I highly doubt any of This is going to hold up for any meaningful period of time following the collapse.

Tue, 04/15/2014 - 21:57 | 4663750 royal
royal's picture

...food prices exploding, and yet gold.....drops?

...even more proof the gold price is being manipulated downwards.

Wed, 04/16/2014 - 04:19 | 4664271 Seer
Seer's picture

More people are busy eating food than gold?

Tue, 04/15/2014 - 22:08 | 4663776 Incubus
Incubus's picture

happy I have farmland.

 

collapse is coming.

 

 

Tue, 04/15/2014 - 22:41 | 4663865 Yes_Questions
Yes_Questions's picture

 

 

and if that's a pic of your farm-maiden's ass, you'd better not see that on the way out to tend to your livestock.

Tue, 04/15/2014 - 23:48 | 4664017 GoinFawr
GoinFawr's picture

Perhaps he runs a chicken ranch

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