Author Topic: What Will You Do When Inflation Forces U.S. Households To Spend 40 Percent Of Their Incomes On Food?  (Read 3790 times)

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What Will You Do When Inflation Forces U.S. Households To Spend 40 Percent Of Their Incomes On Food?
May 5, 2021 by Michael Snyder   

Did you know that the price of corn has risen 142 percent in the last 12 months?  Of course corn is used in hundreds of different products we buy at the grocery store, and so everyone is going to feel the pain of this price increase.  But it isn’t just the price of corn that is going crazy.  We are seeing food prices shoot up dramatically all across the industry, and experts are warning that this is just the very beginning.  So if you think that food prices are bad now, just wait, because they are going to get a whole lot worse.

Typically, Americans spend approximately 10 percent of their disposable personal incomes on food.  The following comes directly from the USDA website…

Quote
In 2019, Americans spent an average of 9.5 percent of their disposable personal incomes on food—divided between food at home (4.9 percent) and food away from home (4.6 percent). Between 1960 and 1998, the average share of disposable personal income spent on total food by Americans, on average, fell from 17.0 to 10.1 percent, driven by a declining share of income spent on food at home.

Needless to say, the poorest Americans spend more of their incomes on food than the richest Americans.

According to the USDA, the poorest households spent an average of 36 percent of their disposable personal incomes on food in 2019…

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http://theeconomiccollapseblog.com/what-will-you-do-when-inflation-forces-u-s-households-to-spend-40-percent-of-their-incomes-on-food/
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Offline DefiantMassRINO

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I already fork over 40% in payroll taxes.

I guess I'll have to sign-up for free government cheese.
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Offline IsailedawayfromFR

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Did you know that the price of corn has risen 142 percent in the last 12 months? 

Easy to change that one:

Stop making ethanol out of our food.
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People will finally have to be successful dieters? Remember when gas truck hijacks were the norm during the Carter years? I guess we will start hearing about grocery truck hijacks.

Offline Idiot

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People will finally have to be successful dieters? Remember when gas truck hijacks were the norm during the Carter years? I guess we will start hearing about grocery truck hijacks.
Talked to a local house builder this past week.  He said they have to be so careful in having materials (lumber) delivered to a building location, basically what is needed just for the day, otherwise it's stolen.  Lumber prices are soooooooooo high, that it's become more of a target for thieves. 

Offline thackney

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Talked to a local house builder this past week.  He said they have to be so careful in having materials (lumber) delivered to a building location, basically what is needed just for the day, otherwise it's stolen.  Lumber prices are soooooooooo high, that it's become more of a target for thieves.

Lumber (LBS)
https://www.nasdaq.com/market-activity/commodities/lbs

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Online roamer_1

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Plant a garden if you can.  Raise up some chickens...

You'll feel a whole lot better with a pantry full of canned goods and a freezer full of chickens.

And if you don't count your labor, way, way cheaper.
Maybe not to start - Infrastructure costs may be limiting... You need a ton of jars and lids (that are hard to find right now)... and an automatic plucker is around 500 bucks - and you need that plucker. The first time you sit down to pluck 50 chickens, you'll know.

But that money is the best investment you could make right now. Because it ain't going to get better any time soon.

Upthread there was a bit about the poor having to spend more - That is only true in the city. Rural poor eat good. For near nothing. I am likely considered poor by now. But here is where the rubber hits the road. See, money doesn't matter near as much in a rural economy. Hell, money has never been much in a rural economy to begin with.

It was a hard thing to go back to - But at least I know how. I will spend the summer fishing and there will be at least a hundred fish dinners in the freezer by fall. And another hundred chickens... and a half-beef, and at least a deer. And a pantry full of vegetables from the garden.

Times are getting rough. Time to detach from the system while you still can.
« Last Edit: May 07, 2021, 08:05:00 pm by roamer_1 »

Offline Hoodat

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I already fork over 40% in payroll taxes.

I guess I'll have to sign-up for free government cheese.

Cheese isn't free.
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Offline Hoodat

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Quote
What Will You Do When Inflation Forces U.S. Households To Spend 40 Percent Of Their Incomes On Food?

I know what liberals will do.  Demand that the government do something to fix it.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

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I know what liberals will do.  Demand that the government do something to fix it.

Yeah... Print MORE money and hand it out to the poor. It's for the chidren.
And so it goes  *****rollingeyes*****

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Lumber (LBS)
https://www.nasdaq.com/market-activity/commodities/lbs

I am very seriously considering firing up a jippo mill. I was already looking for a small mill to build my place up in the holler. Might ought to park that mill on a lot in town and start cranking out lumber.

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Offline DB

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And lets be honest. Trump had a lot to do with this. He spent more printed money in four years than any president prior by a significant amount. Obama set the record prior and Trump crushed it.

You can't print massive amounts of money without devaluing it in the future. We are destroying ourselves.

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I just hope all the Democrats/NeverTrumps are happy.
They brought us to this place.
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And lets be honest. Trump had a lot to do with this. He spent more printed money in four years than any president prior by a significant amount. Obama set the record prior and Trump crushed it.

You can't print massive amounts of money without devaluing it in the future. We are destroying ourselves.

YUP. And don't let Dubya off the hook either.

Offline DB

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I just hope all the Democrats/NeverTrumps are happy.
They brought us to this place.

Well... See the post above yours... This was coming no matter who was elected. Biden will certainly make it worse but the piper must be paid.

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I just hope all the Democrats/NeverTrumps are happy.
They brought us to this place.

Wake up.

Offline libertybele

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All I can say, is if you haven't stockpiled some food, or bought some dehydrated food, now may be a really good time.  Along with paper goods, cleaning supplies, etc.  Buy at today's prices.  Yes, it's not going to last forever, but it will certainly help.
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Offline libertybele

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I know what liberals will do.  Demand that the government do something to fix it.

More people will be forced to go on to food stamps as they continue to march us towards socialism!

We've got to find a solution to restoring our Republic folks! Otherwise, we're all gonners.
Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

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More people will be forced to go on to food stamps as they continue to march us towards socialism!

We've got to find a solution to restoring our Republic folks! Otherwise, we're all gonners.

And the left measures success by how many people they can get on public assistance... Not fewer...

Offline libertybele

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YUP. And don't let Dubya off the hook either.

Ok, in fairness though; during 'W's administration 9-11 hit us hard and we went to war --- $$ was needed for.  Whether or not you believe it was an inside job, the fact remains 9-11 was an exceptional time in history.

During Trump's administration, we were hit with COVID, millions were forced out of work, PPE's were needed, etc. Whether or not you believe the Chinese and Biden & company inflicted the pandemic upon us, again it was an exceptional time in history.

No excuse for Biden.  Trump actually got us out of Bammy's rabbit hole.  With Bammy and Biden there wasn't or isn't any exception set of circumstances other than tanking the economy!

Romans 12:16-21

Live in harmony with one another; do not be haughty, but associate with the lowly, do not claim to be wiser than you are.  Do not repay anyone evil for evil, but take thought for what is noble in the sight of all.  If it is possible, so far as it depends on you, live peaceably with all…do not be overcome by evil, but overcome evil with good.

Offline Hoodat

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More people will be forced to go on to food stamps as they continue to march us towards socialism!

Hyperinflation is going to destroy us a lot faster than socialism ever could.




Ever since the Fed got involved and began monetizing the deficit in 2009, there is zero incentive for Congress to do anything to stop it.  They can spend whatever they like with no accountability for the revenues to pay for it.  And with zero effect on interest rates.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-