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Foodflation - Since QE3, Breakfast Is Up Over 24%
Having pointed out the 'surges' in the cost of your 4th of July burger at the behest of Greenspan and Bernanke, we thought a reflection on the soaring costs of 'the most important meal of the day' were in order. As the following chart illustrates in words and pictures even a PhD Fed economist or CNBC pretend-economist could understand - food-flation is here from breakfast through dinner (no matter how many iPads we try and eat).
h/t $hane Obata @sobata416
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Just substitute....skip breakfast...
The way to a mobs' heart is through its stomach.
Forget about eating an iPad, eat a fucking central banker.
Ewwww, gross! Would sooner go vegan.
Fine, I´ll have yours
I think someone forgot to adjust the chart above for inflation.
The price might be 24% higher but because you don't eat as much since you lost your job it tastes twice as good.
Therefore after hedonic adjustments it is now actually 76% cheaper.
Deflation can be a bitch that way...
I'm looking at the chart for the biggest number and thinking.... it's all the pigs' fault.
The ones in DC.
Dear fellow Americans , this is what it is like to live in the rest of the world.
Energy prices have finally equalled the playing field for food, sucks doesn't it? And amazingly the US is making more oil than ever, now how can this be? I recommend finding entertainment that does not involve the use of an internal combustion engine for starters. All the savings from silly bass boats, atvs, snow machines, dune buggies, swamp buggies, dirt bikes, and last but not least frickin jet skis and wet bikes, all the savings can go towards nice healthy food. Yes I know, it's hard to have fun without a vibrating crotch rocket between your legs, try walking.
Get fucked. A few times.
how about since qe1?
NOISE... it's what's for breakfast!
-- Janet Ben Yellen
Excellent comment!
I thought your line of reasoning was going to end in "...because we eat beans for breakfast not dinner." Kooky.
Or, you could suppress all airline travel, because 200 people each getting the average mileage of a Ford Expedition,, just so they can go gorge themselves for thanksgiving dinner with some family..... I mean seriously, the Mona Lisa looks just as good in any decent art book.
Also, you abandon the internet, the servers for which consume as much electricity as a large city.
You might get some privacy back.
I don't want to eat a Banker-Critter either, but I'd be Happy to Skin and Roast them over a fire for y'all.
Feed the central banksters to the sharks.
They wouldn't eat them out of professional courtesy.
Yeah, but have you ever tried to gut and clean one of those?
Unpossible. The fed said so. Although in reality, the more this seeps out into the open, the more people are going to wake up. If people realize real inflation is even 5-6% (it's probably higher than that), and come to the realization that this reality wipes out all GDP growth we have had over the past decade. This means we have been living in a depression for the past 10 years. Better get busy with the excuses quick...
96 ounce Tropicana orange juice ON SALE at Kroger with member card for $9.29. UFB.
What if you flash the EBT Gold Playa Club Card?
eat moar wood pulp
No sausages?!?!? WHAT IS THIS?!? DARFUR? SOMALIA?!?
AND WHAT'S THAT RED THING IN THE MIDDLE?!?!?
Is that a...vegetabalala?!?!?
WHAT THE MEANING OF THIS?!?!
DO I HAVE TO LURE AND TRAP A RABIT ON MY PLATE MYSELF?!?!
Beans instead, we're almost half Mexican now.
Mexicans don't eat that kind of beans. That bacon looks strange too. Who eats cucumbers? Someone is trying to slip in an English breakfast.
English breakfast doesn't include cucumbers. Fried egg, bacon, fried bread, tomatoes, black pudding and, possibly, beans, toast and tea. But no cucumber.
DavidC
Agreed, if you want to satisfy your need for cucumber in the UK you need to order a Cup O'Pimms.
Wot? No cucumber and watercress sandwiches with tea? Plum would be put out.
Although, I see soda bread pictured there; so I'm lead to believe it's the traditional Irish breakfast.
It's the ultimate breakfast- not hungry again until 13:00.
Eggs, bacon, beans, and a fried slice - the breakfast my formerly Mancunian roommate used to cook up.
Need I mention he had a complexion reminiscent of the dark side of the moon?
Why would you fry bread?
Fuck FOOD and ENERGY!!! Meaningless noise in terms of inflation! </sarc>
baby seals
are getting smaller too...
My wife says it's because I leave them to long on the BBQ...
Baby seal should really be steamed alive like lobster in order to seal in the freshness.
That breakfast plate looks like it is staring at the increase in health insurance premiums in disbelief.
Good pick up - two eyes and a mouth spewing
what you call hyperinflation the fed
calls a good start.
what do you call three federal reserve
board members at the bottom of the ocean?
.
A good start.
...what is a picture of things that will be excluded from the CPI, Alex?
If you find dry pasta for a $1 a pound 16oz buy it. By the end of this year pasta and flower will be over $2 a pound. Next year almost $3 a pound.
Egypt will burn and so to the world when rice catches up to wheat.
Yellen and the banks want higher prices, so be it.
This is about rigged market prices, not retail.
3 bucks for a pound of pasta... I put twice as much in the parking meter to go to the store...
Stop whining you ignorant rabble.
The Ponzi Munchkin has assured us this is all just 'noise'.
Let's get some fuckin french toast
http://www.youtube.com/watch?v=Qkyuq-m-aGs (3:22)
dog
ate my breakfast...
Word scramble.........eat dog for breakfast.
Fast food nation probably already is, they just don't know it.
I ate my dog's breakfast, which is really stange, as I don't have a dog.
woof...
Seems that the 2 eggs, the baked beans and the tomato missed out on being rated in that picture???....hedonics...its everywhere
Not high enough. It needs to go up over 100% for people to react. Triple digit food inflation may work.
and yet a lot of these ETFs such as Corn and Wheat are down hard this year
The obvious answer to your question is: Because ETFs are specifically designed to take your money.
not speaking to directly purchasing etfs, simply the correlation
Noise, just noise.
I saved $11 a week by switching to to Spam, Sunny D and Chock Full o'nuts instant... and granny doesn't seem to mind the mighty dog mixed into her tuna sandwiches...
"...tuna sandwiches..."? Surely you jest. There hasn't been Tuna in a can of Tuna since the late 60s. Nowadays it's all fish asses and lips.
Ok Valentine, this is orange juice, form oranges. And bacon, from pork bellies. This is toast, made from wheat. And coffee.
Now this is Gold, but we don't eat that ! Ha ha.
https://www.youtube.com/watch?v=OasiDe4q57g
Tom Waits: Little drop of poison. Sensual Tango Video
Here is my newest non-existent inflation story.
Dog treats.
Last month, I was able to buy a 1 lb. bag of very good, high quality US made chicken treats for about 24 bucks.
I know what you're thinking....but I like my dogs more than people.
But I digress....
Today, I go and buy the same treat. Now, it only comes in 5 oz bags, and the bags cost 10 bucks a piece.
So I went from 24 bucks to 30 bucks for the same amount, actually getting ripped off 1 oz. plus probably another oz due to more packaging instead of chicken.
That right there is about 25% inflation. If my math is wrong....I went to public school.
If it's happening in the doggie world, it's happening in yours.
Hedonics...substitutions...and if that don't work.....outright fucking lie....bitchez!!!
I guess you already know that it is very easy to make dog treats. Fry up ground chicken, squeeze out any fat, mix into homemade dog biscuit dough, bake in small blobs on cookie sheet, let cool, freeze in freezer baggies. Very cheap and you can control the ingredients. You could just oven-dry/bake chicken in little pieces and freeze it and it would be cheaper than what you're describing.
Don't get me wrong; I spend a fortune on vet bills and veterinary diets (dog has IBD), but I don't think treats need to be expensive; dogs barely have taste buds!!! They'd be just as happy if you swapped in cat poop for the chicken in the recipe but it might make the oven smell.
Anyway, you're right about prices.
Could we have kippers for breakfast
Mummy dear, Mummy dear
They got to have 'em in Texas
Cos everyone's a millionaire...
[/supertramp]
you would expect more from yellen on inflation other than "noise" - being the head of the Fed
yellen is communicating like a used car salesman
the WH is pretty much the same
the rot is pathetic to listen to
Meh...what inflation? I didn't buy a 777 Dreamliner or a Lamborghini last month so there's no inflation here. Breakfast? What's that?
Handle of Vodka (used to be, sadly)
Knuks, It's not about what you don't have!
It's about what you do have.
It's not foodflation, it's necessiflation. Happens when "emerging markets" start refusing to play patsy and "serious people" have to start cannabilizing their own.
I lived in NYC for 15 years after college, so it was always, hard to see inflation since everything was just always so expensive, but since 2009 have lived in Indianapolis and can say for sure food inflation has got to be at least 20% year to year over that last few. Staple items have gone up quite a bit like a loaf of bread used to be about $1.00 3 years ago, and is now $2.00, a pound of ground beef $3.00 and now is $5. Roast beef Dietz and Watson, use to be $10 lb, now $13.
The milk chocolate Ensure is only a buck and a quarter and it has the same amount of sugar as a fudge bar although it isn't recommended for those that have type 2 diabetes from taking statins since the eighties.
Good news, The price of Depends Adult Diapers have stayed reasonable for when you shit yourself at the checkout line. And besides you could use substitution and use the triple XXX large kung Fu Sumo wrestlers baby size Huggies.
Was going to buy a Whole beef brisket to smoke for the 4th. 74$ freaking dollars (Cleanup isle 3) for the toughest cut on a beef and you will lose half the weight in the smoking process. Look kids, we have Hotdogs!---- Again?
Eat cake for breakfast. Feed the "meat" to the guillotine.
Coffee is not up 72% YTD in Houston
Clearly the Fed thinks rising food prices is a plus for the economy pushing consumers to accelerate food purchases rather than save. The fact that food is a perishable commodity is just economic noise.
I treated myself to breakfast after yoga this morning which I haven't done in at least 6 months. I had a Denver omelette and a cup of coffee. The price of the omelette was 12.50 which I thought was a bit steep but, oh well, it was a treat. When the waitress came I asked if I could substitute gluten free pancakes and add avocado. She informed me that would be an extra charge and I, without asking, said ok. Well, the bill came and it was $20.93. I did a double take. I was thankful I had only eaten half and called Mr to say I'm bringing him home breakfast. So though creative accounting I really only spent $10.46 for breakfast.
Miffed;-)
Could not agree more. Wife and I went to new diner for BF as a treat. Got nothing fancy....omelet for me, french toast for her, coffee.....no juice no fruit. $26 with tip. I can make every thing we had, at home, for less than $6. Riduculous.
I like my Bacon and eggs in the morning, but often lately have been having just porridge, the trick is to mix it up the night before and put it in the fridge, tastes fantastic the next day and only needs 2 minutes in the microwave, cost for breakfast, about 20 cents and keeps you going until lunch, sweeten with honey on top, banana, whatever.
Get steel cut oats, slam 'em in your slow cooker with some cut up fruit before you go to bed, and they're piping hot and ready in the A.M. I do it all winter.
Who threw in the last penny?
Life in 2014: A GAAP breakfast.
Move along peasants. Be thankful you don't have skurvy or scabies or lime Disease.
Chocolate rations are being repackaged at the company store.
Hedonic adjustments have me eating bacon bits and watered down Tang for breakfast.
Those who want to prosper over the next decade should consider fasting for a few days or more.
Hunger is an excellent motivator. Once you experience it, you will do what is necessary to grow, protect, harvest, prepare and properly store your food without reliance on electrical power for refrigeration.
In addition, a good exercise for a urban/suburban family may be to shut the main breaker off for a week - assume grocery stores are empty, water is either no longer flowing or considered non-potable, bank accounts are frozen and/or cash is worthless, etc... - then deal with it. Learn the feelings of hunger, heat, cold and thirst - develop the self-control to deal with it and prioritze needs - usually potable water, adequate shelter and food in that order.
There is no substitute for experience, confidence, self-control and determination.
True, nothing like a little bit of hunger to focus your priorities, solar, deep cell batteries worth looking at.
Jim Willie explians as only he can that adjusting for inflation, US Economy had contracted 20% since 2008. All covered up and hidden by the bombastic mainstream media...http://youtu.be/a-Aky4r44IM
Where are the grits? And who the fuck eats baked beans for breakfast.
We do down here in windy Aussie.
It's more like pork and beans. Part of the classic English fry-up. Missing are the sausages, mushrooms, and yum, black pudding. Also the toast looks a little suspect.
Plus, I never got a proper fried egg with a full English, only these weird scrambled eggs that would quiver with the slightest vibration. But that's probably because I only stayed at downscale hotels and frequented pubs that looked like they would have me.
I like my Bacon and eggs in the morning, but often lately have been having just porridge, the trick is to mix it up the night before and put it in the fridge, tastes fantastic the next day and only needs 2 minutes in the microwave, cost for breakfast, about 20 cents and keeps you going until lunch, sweeten with honey on top, banana, whatever.
Pancakes! Where the fucken PANCAKES? Fucken Fuckity Fuckups!
Pancakes, they are on plate two, this is an American breakfast after all.
I suppose you could call it American, as long as you subtract the beans, the rasher of bacon, the to-mah-to, the cucumber slices, and the subtly menacing grilled plank that purports to be toasted bread.
this is going to translate into higher health care expenses. Its' the perfect storm. All of the idiot foreign governments that bought US Treasuries are going to, like- totally shit themselves.
See, when food prices go up- everyone is going to cut cost. Which means they're going to sell LESS food and stick more chemicals in the food in order to keep the price low enough for the masses to keep the purchases up.
Funny how the thieving socialists are only on Monsanto's case about it. Kraft sticks rbgh in cows to make more dairy (don't ask me how i KNOW this- $4000 in medical bills and the doctors only wanted to push metformin then statins on me instead of just giving me pain pills and telling me to get off of dairy. The doctors are really that sketchy-be warned).
Then! we've got antibiotics and other hormones in the meat that makes mammals gain weight. IF the cost of food rises (by lovely speculators in cattle trade like Hillary Clinton once was! Now aided by QE)....uh, the quality will be going down.
I also heard that in Asia, many use meat as a seasoning and not a main dish. Until we get past these prices, it might be safer. Wild game fish without mercury might be a nice idea too- I'd be willing to bet on fishing gear.
There's high fructose corn syrup in EvERYTHING- can anyone say WEIGHT GAIN and HIGH TRIGLYCERIDES? High triglycerides equates into fun like angina and coumadin!
And the "real" food! The gluten comes from China for CHEAP! They have to tell you where your food was processed but by law, they don't have to disclose the country of origin where the ingredients come from. And the US produces the world's most agriculture, especially California and well... we're importing food from places like Mexico! (watered with MEXICAN water) and China. Where we get the gluten that they stuck in dog food that killed dogs.
And going out to eat will be even more interesting. They go after flavor, not quality of food.
That's only if the "scientific" community doesn't spread ecoli to "combat obesity".
We haven't even added in gas prices to cart the grub around yet! I'm looking forward to cost cutting. Or losing money on food.
Wonder if Yellen would consider food in the inflationary index. Not that she pays for anything out of her own pocket (this is too obvious, esp if she can handle basic math ).
If you think food is expensive, you should look into off the grid power. I've been researching converting my home to solar energy. Ain't going to happen. Not as long as I'm married.
I can trap my meat and grow my vegetables - but I have to buy my energy - one way or the other - and neither one is cheap.
Here's my food inflation story: My yard is food instead of grass. Compost to feed it and rainwater to water it. A few chickens and a couple of goats in the back.
Sure, it takes a little work and knowhow, but what of value doesn't? Crazies like me even find all the work fun and rewarding.
Sun, dirt, and rainwater are luckily not subject to mans' inflation.
Still No inflation because bankers aren't making 24%more profit from buying it from the future before it's made.
Is this really NEWS to anyone?????
After much thought I have come to the conclusion that while inflation appears tame and is not showing up in a big way the seeds have been planted, and the number of them is somewhat shocking. Inflation lurks beneath the surface and is hidden away in the dark corners of our future.
Want to know where the real cost of things is going, just look at the replacement cost from recent storms and natural disasters. Several things to consider when trying to understand inflation come to mind, first competition tends to keep price increases in check, and our slow growth economy is helping the consumer in many areas, but the monster when unleashed will take a very large toll! More on this subject in the article below.
http://brucewilds.blogspot.com/2013/06/inflation-lurks-beneath-and-hidde...
This info is bad if your one of those urbanites, but if your out here in rural production country, producing that corn, soybeans and beef, its not so bad. Highest price for cattle ever and continuing to rise. My land has increased in value 3 fold in the last decade. I advise the country bred BHO haters that we have never had it so good since the nig got in the White House. I don;t get much response but more of a "look off in the distance" when I use that line.
I advise all cattlemen lately that we need a Republican like Nixon, and beef price controls like in 1973. That worked out reall well for the consumer and I lost my ass on cattle.
for the rich food is such a tiny fraction of their expenses that food inflation is a minor issue not worth paying attention to
american lardicus fatassicus can do with a few less meals.
No tears lost here. Maybe the women will start lookin' better when they shed a few pounds. I could seriously make a living as a whaler.
My breakfast goes up anytime I accidentally view content from CNBS...