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Food prices soar.

Discussion in 'Economics and Financials' started by padre31, Mar 13, 2011.

  1. padre31

    padre31 Premium Member Luxury Box

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    http://www.nypost.com/p/news/local/manhattan/reeling_in_9O0R4mmAOfbbJ1LDugVBcI

    Ah, the Carter Era is back, fortunately now we do have Ramen Noodles, unlike in 78-80, but pretty much the same thing happened.

    Count down to Pollyanna contact in 4..3..2..:lol:
     
  2. MikeHoncho

    MikeHoncho -=| Censored |=- Club Member

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    2 words: PB & J.
     
  3. Eshlemon

    Eshlemon Well-Known Member


    Interesting possible parrallel to the 2007 Indonesian earthquakes devastation influencing prices in 2008. Now, with Japan, an even bigger economy...
     
  4. padre31

    padre31 Premium Member Luxury Box

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    Was just going to post that Eshelmon, you could see it coming if anyone halfway paid attention, declining dollar, ethanol, bad crops in places such as Russia and S America, plus side is this is a good time to be a farmer or farming concern in the US.
     
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  5. DeDolfan

    DeDolfan Premium Member Luxury Box

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    Food prices have been going up for quite awhile now, despite what we've been told.
    btw: have you seen the price of ramen noodles lately? It wasn't too long ago you could buy a pack of them for 10 cents all day long.
     
  6. padre31

    padre31 Premium Member Luxury Box

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    Yep, across the board even the less expensive beef like london broils that I prefer to BBQ are now almost twice as expensive as they were maybe 3 yrs ago.
     
  7. DeDolfan

    DeDolfan Premium Member Luxury Box

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    I prefer rib eyes myself. I used to be able to buy them for $3.99, on sale. Now I'm lucky to find them for $5.99, on sale.
    Coffee is going out of sight.......... Things are going up a lot more than my income.
     
  8. padre31

    padre31 Premium Member Luxury Box

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    Shoot, have not had a ribeye in literal yrs De, two go for 12 bucks or more here, that is one london broil and a couple of pd one at that, which leaves leftovers which 2 ribeyes do not.

    Have switched to black tea as coffee is more of delicacy now rather then every morning pick me up as even the cheapy coffee is no longer all that cheap.

    Driving much much less as well.
     
  9. finyank13

    finyank13 Reality Check

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    I find it INCREDIBLE that they dont take food prices into account when determining inflation.....honestly what better way to determine inflation than the price of food??
     
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  10. Fin D

    Fin D Sigh Club Member

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    If they did, then they'd have to pay employees more.

    Food has been going up in price for years now.
     
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  11. finyank13

    finyank13 Reality Check

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    and we wouldnt want to pay those employees any more than we have too right.....
     
  12. padre31

    padre31 Premium Member Luxury Box

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    Nah, see you add the pb to dry, cooked ramen noodles and..
     
  13. DeDolfan

    DeDolfan Premium Member Luxury Box

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    I used to always think that they did but, as you say food prices have been going up for years, it's pretty easy to see that they don't. IMO, they should use the costs of everything across the board to get an overall inflation rate but that won't tell the complete story. They then should come up with a sub category to obtain a fair inflation rate for the average joe. But if they keep certain things out of their calculations, then leave out the high end stuff that the average person can't even touch. calculate things like basic staples, things people need to "survive", median priced homes, etc. who cares if a 50 room mansion or a rolls royce cost 5% more to build. The people buying those things are not impacted in the same way as the average person. But this is how numbers are skewed. There are a lot of things for the average person that are tied to inflation. Raises and benefits, etc.
     
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  14. vt_dolfan

    vt_dolfan Season Ticket Holder Club Member

    Doesnt a lower dollar value drive up the price of food as well?
     
  15. padre31

    padre31 Premium Member Luxury Box

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    Yes, especially for food products that are typically exported, as the foriegn currency makes it more profitable to sell overseas which means prices inside the US have to rise to meet the price that is commanded.
     
  16. Topdawg13

    Topdawg13 New Member

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    Wet spring, lousy harvest mean higher food prices

    -Link-



     
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  17. Eshlemon

    Eshlemon Well-Known Member

    http://www.cbsnews.com/stories/2011/08/18/national/main20094058.shtml?tag=cbsnewsMainColumnArea

    Another "padre bump"...

    While it doesn't compare to the tragedy all the people of Japan suffered, this is going to be much worse than the Indonesian disaster impact on the global economy.


    Darn you Europe, stop borrowing and get your house in order like us.


    Inflation doesn't matter as long as you don't eat or use energy. Or should be if you don't make your own food...I'm bullish on the Amish. Wonder if Bernake still plans a QE3 to increase inflation?

    And this is the good news?
     
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