The Briefing Room
General Category => Economy/Business => Topic started by: mystery-ak on May 07, 2021, 01:21:24 pm
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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…
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…
more
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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9999hair out0000
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Get cattle? :laugh:
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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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C'mon man. Let them eat cake.
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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.
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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.
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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
(https://i.postimg.cc/K8Hv0XfJ/timber.jpg)
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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.
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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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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.
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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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Lumber (LBS)
https://www.nasdaq.com/market-activity/commodities/lbs
(https://i.postimg.cc/K8Hv0XfJ/timber.jpg)
I wonder how that compares to 2004 through 2006?
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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.
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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.
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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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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.
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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...
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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!
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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.
(https://www.bwl-lexikon.de/app/uploads/hyperinflation.png)
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.
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Hyperinflation is going to destroy us a lot faster than socialism ever could.
(https://www.bwl-lexikon.de/app/uploads/hyperinflation.png)
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.
Hold on to your hats and don't spend a penny other than for a roof over your head, keep water and electric on and food in your bellies. Only advice I can offer.
Again, I am urging everyone who hasn't to start stockpiling food. Dehydrated is a good way to go --- website link below
https://beprepared.com/collections/emergency-essentials-food
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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.
No excuse for the bailout in his last term.
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.
Nope He was spending like a drunken sailor long before the woohan flu.
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!
No excuse for ANY of it. Folks think I am barking about fiscal conservatism to be contrary - That ain't true. We ain't got the damn money, and now it is starting to show. Any 'I tolja so's are eclipsed by an order of magnitude by how dire this is.
If it don't turn around, and I don't think it will, hyperinflation is right around the corner and Poof! Venezuela. It is sure as hell coming, because no one from either side is trying to fix it... And trying to justify 'our side' of it is bullcrap.
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No excuse for the bailout in his last term.
Agreed. But unlike the current debt monetization, the 2008 $350 billion bailout was paid back. Compare that with the $3 trillion since Biden took office that will never be paid back.
Still can't get over Henry Paulson getting on his knees and begging Nancy Pelosi for the Fed bailout just so his Goldman Sachs buddies wouldn't be hurt.
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No excuse for the bailout in his last term.
Nope He was spending like a drunken sailor long before the woohan flu.
No excuse for ANY of it. Folks think I am barking about fiscal conservatism to be contrary - That ain't true. We ain't got the damn money, and now it is starting to show. Any 'I tolja so's are eclipsed by an order of magnitude by how dire this is.
If it don't turn around, and I don't think it will, hyperinflation is right around the corner and Poof! Venezuela. It is sure as hell coming, because no one from either side is trying to fix it... And trying to justify 'our side' of it is bullcrap.
Ok, perhaps it may seem like some justification; but first time ever in modern history we were hit with a pandemic and an attack on U.S. soil (since Pearl Harbor which is another story -- I'm working on posting). Spending I believe was at least warranted to a degree -- the continued stimulus and bailouts could have stopped awhile ago.
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Ok, perhaps it may seem like some justification; but first time ever in modern history we were hit with a pandemic and an attack on U.S. soil (since Pearl Harbor which is another story -- I'm working on posting). Spending I believe was at least warranted to a degree -- the continued stimulus and bailouts could have stopped awhile ago.
Trump gave congress whatever they wanted from day one. And they spent, spent, spent...
And a good chunk of that Covid spending was due to government destroying peoples businesses by force. Trump could have demanded that states back off destroying peoples lives. Instead he went along.
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Ok, perhaps it may seem like some justification; but first time ever in modern history we were hit with a pandemic and an attack on U.S. soil (since Pearl Harbor which is another story -- I'm working on posting). Spending I believe was at least warranted to a degree -- the continued stimulus and bailouts could have stopped awhile ago.
Well, not to me. I see your 'pandemic' as a construct, and I am not wrong in that. The entire thing was designed to do exactly what happened. Either Tumpy is culpable, or a fool, and neither is excusable.
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Trump gave congress whatever they wanted from day one. And they spent, spent, spent...
And a good chunk of that Covid spending was due to government destroying peoples businesses by force. Trump could have demanded that states back off destroying peoples lives. Instead he went along.
*FACTS*
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Well, not to me. I see your 'pandemic' as a construct, and I am not wrong in that. The entire thing was designed to do exactly what happened. Either Tumpy is culpable, or a fool, and neither is excusable.
Yes the pandemic was constructed, but I have to tip my hat to President Trump; he did what he had to do to save lives. Got the PPE manufactured, etc.
Yes, he could have handled things differently to a degree, but it IS up to the states to shutdown -- If I'm not mistaken those orders come on the recommendation of Fauci.
Could have should have would have -- I think Trump did well.
No other time in modern history has the country experienced a pandemic and it hit hard.
Yes of course we now know, or at least most of us acknowledge it was inflicted upon us on purposed by China Joe, the Chinese and Fauci. Did Trump put two and two together? I believe he did, but by that time, he was responsible for the lives of all of us.
So.. yes, I'm cutting him some slack for once.
The b.s., pandemic excuses continue which is not acceptable. DeSantis is ending all the mandates, but individual stores are vowing to continue mandates -- it's going to get interesting. Perhaps they can keep people from entering the store, but in the same light, it kills their business. I'll shop elsewhere thank you very much.
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The president does not "spend" money.
And the president today can do precious little to stop congress from spending it. ESPECIALLY without the support of his party.
A president can only bring the entire federal machine, military and all, grinding to a halt by not signing the budget, which congress will happily allow a republican president to do, because it is politically suicidal and in the end will accomplish nothing.
A president can either support it or they can oppose it rhetorically. Trump could've spoken out against profligate spending, granted. But that is all.
Run in circles scream and shout, it's just the way it is.
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Trump gave congress whatever they wanted from day one. And they spent, spent, spent...
And a good chunk of that Covid spending was due to government destroying peoples businesses by force. Trump could have demanded that states back off destroying peoples lives. Instead he went along.
Trump cannot make demands on the States; States have rights and the governors run the states. The President making demands would indeed make him a dictator of which Trump was accused of by the leftists numerous times. Clearly he was not.
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It would bring things back into balance with the way it used to be, so long as other expenses don't inflate as quickly. Essentially, a reset.
Me? I've bought my seeds for the year. Hoping to have a good garden crop.
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It would bring things back into balance with the way it used to be, so long as other expenses don't inflate as quickly. Essentially, a reset.
Me? I've bought my seeds for the year. Hoping to have a good garden crop.
I waited too long I think unfortunately to start planting now. We are reaching the 90's early and the rains haven't come. I need to be careful what I wish for ... rainy season and hurricane season are just around the corner. With temperatures this hot already, I think we're in for a wild season.
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The president does not "spend" money.
He most certainly does. All government checks originate with the Executive Branch.
And the president today can do precious little to stop congress from spending it. ESPECIALLY without the support of his party.
The President is not Constitutionally obligated to spend a dime. The Legislature can appropriate all the money it wants, but only the Executive Branch has the power to spend that appropriation.
A president can only bring the entire federal machine, military and all, grinding to a halt by not signing the budget, which congress will happily allow a republican president to do, because it is politically suicidal and in the end will accomplish nothing.
It isn't political suicide. It just requires courage and conviction. And it would be a winning strategy in the end.
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It isn't political suicide. It just requires courage and conviction. And it would be a winning strategy in the end.
I most definitely disagree. One hundred percent.
Take a good look at the American electorate and its priorities.
Were a president to refuse to sign the budget chaos would ensue, follow by a candidate who would promise to restore spending. And IMO they would win in a landslide.
The American people are the only ones who can restore fiscal sanity and they will not appreciate the danger they are in until all hell breaks loose.
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Trump cannot make demands on the States; States have rights and the governors run the states. The President making demands would indeed make him a dictator of which Trump was accused of by the leftists numerous times. Clearly he was not.
No. He has the bully pulpit to sway people like no other. In addition what states do has to be constitutional and the federal government can enforce that. I don't believe what the states did was constitutional.
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I most definitely disagree. One hundred percent.
Take a good look at the American electorate and its priorities.
Were a president to refuse to sign the budget chaos would ensue, follow by a candidate who would promise to restore spending. And IMO they would win in a landslide.
The American people are the only ones who can restore fiscal sanity and they will not appreciate the danger they are in until all hell breaks loose.
The evidence is in your face of what not blocking their spending has done. Either you take a stand or you don't. Not taking a stand against it is simply surrender no matter how many words are used.
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The evidence is in your face of what not blocking their spending has done. Either you take a stand or you don't. Not taking a stand against it is simply surrender no matter how many words are used.
How to you see 'taking a stand' playing out?
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Excuses, excuses, excuses.
The place is burning down and truth lies dead in the street. But defend your princes. That's what matters.
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Excuses, excuses, excuses.
The place is burning down and truth lies dead in the street. But defend your princes. That's what matters.
Boring.
I'm defending no one. Not Reagan, not Bush, not Trump.
How about taking a swag at how your plan would play out?
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Boring.
Yes it is.
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No. He has the bully pulpit to sway people like no other. In addition what states do has to be constitutional and the federal government can enforce that. I don't believe what the states did was constitutional.
Point made and I absolutely agree.
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Boring.
I'm defending no one. Not Reagan, not Bush, not Trump.
How about taking a swag at how your plan would play out?
Don't care how it plays out. The logical extension of your way takes fiscal responsibility right off the table ~forever~. That is surrender.
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Don't care how it plays out. The logical extension of your way takes fiscal responsibility right off the table ~forever~. That is surrender.
Your refusal to answer my question is duly noted.
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Your refusal to answer my question is duly noted.
I answered perfectly.
If no one is defending fiscal conservatism, then no one is defending fiscal conservatism - How is that anything but surrender?
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I answered perfectly.
If no one is defending fiscal conservatism, then no one is defending fiscal conservatism - How is that anything but surrender?
I'll go with Pogo on this one. You are determined to blame the president because that suits you.
He's just a cog. Its the collective WE, the American voters, who are at fault. And we're getting everything we deserve.
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I'll go with Pogo on this one. You are determined to blame the president because that suits you.
Oh hell no - I am not merely blaming the president. But neither will I hold him innocent. His people were in session in committee with house and senate. And he signed the damn bills.
And the greater Republican Party just as much. They ALL are supposed to be defending conservatism, and they flatly are not...
GUILTY. All of em, and every one just as much.
But the collective WE, the American voters, are the ones at fault. And we're getting everything we deserve.
Certainly true - Y'all keep voting them in there. And you get more of what you vote *FOR*.
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Certainly true - Y'all keep voting them in there. And you get more of what you vote *FOR*.
Oh I think you voted for your share of em in your time.
And you'll get it too, right along with me.
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Oh I think you voted for your share of em in your time.
Not in a very long damn time.
And you'll get it too, right along with me.
But I wont have made it happen. And no, I won't get it half as much as you. Another couple years and I won't 'get it' at all.
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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.
Exactly how did Trump spend money when only Congress can approve spending bills?
Let's be honest.
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Trump gave congress whatever they wanted from day one. And they spent, spent, spent...
And a good chunk of that Covid spending was due to government destroying peoples businesses by force. Trump could have demanded that states back off destroying peoples lives. Instead he went along.
stupid and inaccurate.
Congress gives Potus money, not vice versa.
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Exactly how did Trump spend money when only Congress can approve spending bills?
Let's be honest.
LOL...
Really...
I guess the President is just a figurehead then... Why does it matter who's elected then...
Vetoed zip spending...
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Reality is a Bitch.
Sometimes we have to settle
for the less worse of the worse
If you cannot accept this...then that is where we are now.
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Reality is a Bitch.
Sometimes we have to settle
for the less worse of the worse
If you cannot accept this...then that is where we are now.
YES. 'Lesser Evil' thinking gets us where we are now.
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Sign up to go stand in line at the goobermint food banks,of course. Just answer a short list of questions and promise to vote Dim,and you will get the food for free.
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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.
@IsailedawayfromFR
SACRILEGE!
Yue must be wunna dem anti-environmental Nazi's weeze bin warind about.
Weeze a-watchin yew,boy!
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More people will be forced to go on to food stamps as they continue to march us towards socialism!
@libertybele
Which is the official Dim Party goal.
Make everybody dependent on the goobermint for food,clothing,and shelter,and you OWN them outright.
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He most certainly does. All government checks originate with the Executive Branch.
The President is not Constitutionally obligated to spend a dime. The Legislature can appropriate all the money it wants, but only the Executive Branch has the power to spend that appropriation.
It isn't political suicide. It just requires courage and conviction. And it would be a winning strategy in the end.
@Hoodat
What color is the sky on your home planet?
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I most definitely disagree. One hundred percent.
Take a good look at the American electorate and its priorities.
Were a president to refuse to sign the budget chaos would ensue, follow by a candidate who would promise to restore spending. And IMO they would win in a landslide.
The American people are the only ones who can restore fiscal sanity and they will not appreciate the danger they are in until all hell breaks loose.
@skeeter
Can you even begin to image that editorials if Trump had done ANY of that? Not to mention the teebee talk shows. The news ,and the broadcast channels would become saturated with anti-Trump/anti-Republican rhetoric/ 24/7,with them blaming him for causing it all. The only opposing voices heard or seen in the media would be an argument about if he should be hanged or shot.
Some people seem to live in a fantasy world,where fairness counts more than propaganda.
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@skeeter
Can you even begin to image that editorials if Trump had done ANY of that? Not to mention the teebee talk shows. The news ,and the broadcast channels would become saturated with anti-Trump/anti-Republican rhetoric/ 24/7,with them blaming him for causing it all. The only opposing voices heard or seen in the media would be an argument about if he should be hanged or shot.
Some people seem to live in a fantasy world,where fairness counts more than propaganda.
So the alternative is to quail and do nothing - Go along gets along - To the tune of twenty friggin trillion dollars. No fault no foul...
Yeah right. *****rollingeyes***** **nononono*
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Point made and I absolutely agree.
DB wrote " No. He has the bully pulpit to sway people like no other. In addition what states do has to be constitutional and the federal government can enforce that. I don't believe what the states did was constitutional."
@libertybele @DB
Then you are both fools. NOBODY has a bigger voice in the America of today than the teebee news broadcasters and the newspaper/news magazine editors.
Care to name a few who are conservative and would publicly support your stand?
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So the alternative is to quail and do nothing - Go along gets along - To the tune of twenty friggin trillion dollars. No fault no foul...
Yeah right. *****rollingeyes***** **nononono*
@roamer_1
No,the alternative is to put on your big-boy pants and act like an adult instead of a child having hissy-fits like a 3 year old denied a candy bar.
ADULTS deal with reality and live in the real world.
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@roamer_1
No,the alternative is to put on your big-boy pants and act like an adult instead of a child having hissy-fits like a 3 year old denied a candy bar.
ADULTS deal with reality and live in the real world.
Yeah @sneakypete ... In the REAL world, if no one is defending fiscal conservatism, then no one is defending fiscal conservatism. Simple as that.
And I will not vote for big government, i don't give a single damn who's name is on it.
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Yeah @sneakypete ... In the REAL world, if no one is defending fiscal conservatism, then no one is defending fiscal conservatism. Simple as that.
@roamer_1
I get it,never let reality interfere with a comfortable theory,right?
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@roamer_1
I get it,never let reality interfere with a comfortable theory,right?
Quite the other way around.
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LOL...
Really...
I guess the President is just a figurehead then... Why does it matter who's elected then...
Vetoed zip spending...
You do not understand federal spending then.
There would NEVER be any spending if Congress did not originate it.
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...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....
Abso-damn-lutely
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@skeeter
Can you even begin to image that editorials if Trump had done ANY of that? Not to mention the teebee talk shows. The news ,and the broadcast channels would become saturated with anti-Trump/anti-Republican rhetoric/ 24/7,with them blaming him for causing it all. The only opposing voices heard or seen in the media would be an argument about if he should be hanged or shot.
Some people seem to live in a fantasy world,where fairness counts more than propaganda.
People forget the longest budget shutdown on record occurred under Trump. I remember how well that one was met.