Forced to Eat Higher Food Prices
June 1st, 2007Via: Kitco:
What I am in a panic about is that from the Financial Times we read the terrible news that “Retail food prices are heading for their biggest annual increase in as much as 30 years, raising fears that the world faces an unprecedented period of food price inflation. Few countries have not felt the impact of food price rises. In the US, prices have risen by 6.7 per cent, seasonally adjusted, since the beginning of this year, compared to 2.1 per cent for all of 2006, according to the Bureau of Labor Statistics.”
As much as I am horrified by this news, the silver lining in this dark, dark cloud is that now I can be not only sarcastic and cruel, but I can also prove my bellicose point with a mathematic precision out to three decimal places, just like the U.S. government does now!
So, prepare yourselves to be absolutely chilled – yet thrilled! – at the resonant-yet-piercingly-shrill tonal quality OF my voice combined with the utter conviction and hostility IN my voice as I indignantly bellow, “In one lousy year, inflation in food went from an annual rate of 2.1 percent to 6.7 percent? Is that what you are telling me? Huh? Is it? Because if that is what you are telling me, then that means that inflation in food prices is up more than 300.000% from a year ago! We’re freaking doomed! And now I laugh the tragic laugh of the damned! ‘Hahahaha!'”
The Financial Times did not officially respond to my chilling (but mathematically precise) outburst, but with famed British stiff-upper-lip stoicism merely continued, “If prices keep rising at these levels for the rest of the year, it would be the biggest annual increase since 1980.”
Research Credit: Survival Acres
Gotta love that True Mogambo Enlightenment (TME)
The dialectic at work. By forcing the bottom half of the middle class into a bottleneck, where an hours wage neatly affords one gallon of gas, one gallon of milk, and your dues in paying for protection from evil jihadis.
It will continue gradually, creating a base disenfranchisement to exploit with the promise of relief at the critical juncture; probably beginning a year into Hillary’s reign.
Fascsim will creep in in the mask of social service. I can’t see the finer threads of the web, and for that I am glad. But I Feel it encroaching. The Penalty Phase of Dissidence.
The USD kill shot is lock and loaded in the chamber.
From the Globalist’s UN:
“United States debt, which had now deepened to well over $3 trillion, might turn out to be unsustainable in the rest of 2007 or next, putting further downward pressure on the United States dollar, he said.”
http://www.un.org/News/briefings/docs//2007/070530_Ocampo.doc.htm
The Globalist’s European Central Bank locks down gold sales:
“June 1 (Bloomberg) — Gold rose in London after the European Central Bank said it has no plans to sell more gold through September. Silver also gained.”
http://www.bloomberg.com/apps/news?pid=20601012&sid=aLXkYhS5mjKI&refer=commodities
The trigger to the weapon is the Japanese central bank interest rate. If that baby goes up, it is them pulling the trigger. Carry trade unwinds, everyone sells USD to pay back billions of interest-free Yen they borrowed and POW…the US is a 3rd world nation with lots of nice coffee shops.
Then you will see food prices soar like you cannot imagine.
Just my unofficial take, I think food has
risen about 25% in some areas. Or they make
the packages smaller to keep the cost the
same.
This maybe has little to do with food prices, nor is it any sort of conspiracy, but more to do with “perception” as a consumer. One of my local supermarkets has started using newer shopping carts that are quite smaller than the “traditional” one. Now maybe its just me but when I finally get to the register I think of how “full” my smaller cart is am I to feel like I got more? Just a feeling.
If Japan “pulls the trigger” by raising rates, the unwinding carry trades will screw over the NZD too. Then we’ll see how high petrol will go. I hope I can still afford to drive to the snow…
geofft:
people in NZ are so off-the-scale ignorant about how the whole property boom/scam is primarily driven by the yen carry trade. i believe there has been a deliberate effort by the MSM and financial establishment in NZ/Aus to downplay the importance of this flow of “hot” money (read:privately controlled hedge funds) in order to keep the man or woman in the street as uninformed about it as possible.
if the oil sellers start pricing in Euros, the petrol price could triple overnight in NZ.
(e.g. crashing $NZ+brent crude over $200)