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Click For Original Post - Inflation Rages on, Beef Hits New Record High [5]
Written by Nathan McDonald [5]
As we reported last year, inflation was raging in food prices. This came at a time, when the FED had the audacity to claim that inflation was "too low".
Unfortunately, as is now common knowledge to anyone who follows reality or John Williams' Shadowstats [6], government numbers are manipulated, bogus and down right shady.
Last year, one food category that received special attention, due to the love that North Americans have with the product, was beef. Inflation in beef prices last year were raging, up 24% year over year, a shockingly high number to be officially reported, especially when at the same time, the FED is stating that inflation is "too low".
The man on the street did not find this humorous. The everyday person actually does their own shopping and can see that month after month, year after year, prices have continued to rise. The reasons for this are many fold and vary greatly depending on the product that you are focusing on, yet one thing is for certain; the root of the problem is the copious amount of money printing that western central bankers have engaged in.
I wish I could say that things were getting better, that the market has adjusted to the money printing, but sadly that is not the case. Like a drug addict that needs his next fix, the markets need for an ongoing flow of newly created fiat money continues.
The result of this has been a continuation of the same. Despite the reprieve citizens felt when gas prices imploded earlier this year, they have raged back to high levels since April, with no slowing in sight.
In addition to feeling the pain once again at the pump, it is being reported [7] that rent prices continue to climb higher, and once again, the price of beef products is soaring higher.
Despite a 24% increase in the price of beef last year, it has continued to climb throughout this year, hitting an all time high of 260.8 on the beef/veal index. This is an additional 12.3% increase year over year and a rise of 30% over the last two years!
One of the main beneficiaries of this action will eventually be precious metals, yet they continue to be artificially depressed in the short term. This should not be looked at as a curse, but an opportunity to continue to dollar cost average to your position month after month.
Despite what the FED has to say, inflation is here to stay, you may as well plan and prepare [8], before its too late.
Click For Original Post - Inflation Rages on, Beef Hits New Record High [5]