Bitch, TV dinners were created due to excess turkey... there’s a whole damn aisle now called “meals for one” and it’s because of Turkey inventory bloat. The question is, are they slaughtering Turkeys like they re chickens because of avianswinemonkeyflu v2.8 ?
There could be other reasons for cheap turkey. F.e. farmers have no food for them or some state regulations make business nonprofitable. If it was hens, you could check the prices for eggs to find out. AFAIK, turkey eggs is not accounted as food products, so it is hard to tell.
In Russia, few years ago, when government tried to press farmers with some stupid veterinary requirements about all that fake birdflus and other crap in the big agricultural corporations interests, for some time we had extremely cheap chickens (IDK, whole fresh non-frozen was $1.2/kg or 55c/lb at the time) and overfilled inventories with growing egg prices because farmers massively slaughter poultry since it was no profit to grow them anymore. When that regulations was relaxed, I don't remember, was it some jailed veterinary officials or they just bankrupt enough farmers, prices stabilised back.
If you read the Zerohedge article, it says that that spending shifted from electronics and such to groceries. The spending shift is caused by people losing their disposable income for cheap Chinese shit.
1970s/1980s inflation is real, it's here, and it hurts my pocketbook every week.
Sweet Jesus. You're so keen on trying to one-up the narrative, that sometimes I think you miss what is in your face.
When I go grocery shopping, it's real as I see the numbers I'm paying out and the decrease in my bank account. Frozen chicken packages at Walmart tripled in price where I am at in the past year.
And 1970s/1980s was the last time we had 10%+ inflation, therefore it's not talking points to compare the two, especially when I fucking lived through it the first time.
Your "deflation is coming" is silly. Deflation will only happen with a deep recession or another depression.... AND....you have large scale unemployment to prevent a wage/price spiral upward, which is right where we are now.
Lastly, prices and wages, once they go up, are "sticky". They go up fast, but go down slowly. Wages in particular. Companies will usually let a certain amount of people go rather than give everyone a pay cut across the board to keep everyone employed. Any reading of economic history will tell you that.
(edit to add: If you don't respond with anything resembling an economic argument, I'm through wasting my time with you on this issue)
Saying "of course" when predicting the future implies a level of certainty that Hayek called the "pretense of knowledge". This is especially true when historical data leads us to predicts the opposite. Deflation is rare historically. Further, all government monetary policy is pushing towards inflation. Inflation is caused, at bottom, by the expansion of the money supply, which continues apace.
We agree, at least, that prices are higher with out (much) "real" growth to support them. But even if your premise is correct, that massive unemployment will lead to price cuts, like I said before prices/wages upwards are "sticky". And deflation is not price cuts, you're mixing up the technical definition of the word. Deflation is your money being worth more because of a contraction of the money supply. Price cuts for unsold inventory are not deflation, systematically.
Last point, what does government do when people are out of work in a recession? Why they do stimulus packages! They throw money at the problem, meaning that inflation will continue.
Will we be 1990s Japan? Maybe. Japan is to peaceful for an apt comparison. We will be more like 1990s Argentina with their hyperinflation.
Deflation is rare, because monetary policy is to increase the money supply. Deflation, when it does occur, is after unique circumstances, and is usually confined to one field. Farm prices in America after WWI deflated prior to the Depression, because once Europe started planting crops again, there was a glut of product. But despite the Depression, deflation didn't occur across the entire economy. Demand dropped, and so suppliers responded by producing less.
The fed exists to protect organized rich interest groups, which, coincidentally, believe in "modern monetary theory" and which want inflation to continue because of the enormous debt.
If I knew you in person, I'd bet you a steak dinner that inflation continues above 5% for another 4 years.
Makes sense, most of the shortages were because ports and shipping yards got too backlogged, all the stuff is still there.
As someone with actuap savings, I hope this is the case.
Port backlogs are a result of Biden's incompetence. Walmart should sue.
Not incompetence. That was intentional, as is everything else done by this illegitimate "administration".
Bitch, TV dinners were created due to excess turkey... there’s a whole damn aisle now called “meals for one” and it’s because of Turkey inventory bloat. The question is, are they slaughtering Turkeys like they re chickens because of avianswinemonkeyflu v2.8 ?
87 cents a pound, as pictured, is pretty cheap for whole muscle protein.
There could be other reasons for cheap turkey. F.e. farmers have no food for them or some state regulations make business nonprofitable. If it was hens, you could check the prices for eggs to find out. AFAIK, turkey eggs is not accounted as food products, so it is hard to tell.
In Russia, few years ago, when government tried to press farmers with some stupid veterinary requirements about all that fake birdflus and other crap in the big agricultural corporations interests, for some time we had extremely cheap chickens (IDK, whole fresh non-frozen was $1.2/kg or 55c/lb at the time) and overfilled inventories with growing egg prices because farmers massively slaughter poultry since it was no profit to grow them anymore. When that regulations was relaxed, I don't remember, was it some jailed veterinary officials or they just bankrupt enough farmers, prices stabilised back.
Sympathies for anyone who lives in the kind of area Walmart would target.
If you read the Zerohedge article, it says that that spending shifted from electronics and such to groceries. The spending shift is caused by people losing their disposable income for cheap Chinese shit.
1970s/1980s inflation is real, it's here, and it hurts my pocketbook every week.
Sweet Jesus. You're so keen on trying to one-up the narrative, that sometimes I think you miss what is in your face.
When I go grocery shopping, it's real as I see the numbers I'm paying out and the decrease in my bank account. Frozen chicken packages at Walmart tripled in price where I am at in the past year.
And 1970s/1980s was the last time we had 10%+ inflation, therefore it's not talking points to compare the two, especially when I fucking lived through it the first time.
Your "deflation is coming" is silly. Deflation will only happen with a deep recession or another depression.... AND....you have large scale unemployment to prevent a wage/price spiral upward, which is right where we are now.
Lastly, prices and wages, once they go up, are "sticky". They go up fast, but go down slowly. Wages in particular. Companies will usually let a certain amount of people go rather than give everyone a pay cut across the board to keep everyone employed. Any reading of economic history will tell you that.
(edit to add: If you don't respond with anything resembling an economic argument, I'm through wasting my time with you on this issue)
"Of course it's going to deflate."
Saying "of course" when predicting the future implies a level of certainty that Hayek called the "pretense of knowledge". This is especially true when historical data leads us to predicts the opposite. Deflation is rare historically. Further, all government monetary policy is pushing towards inflation. Inflation is caused, at bottom, by the expansion of the money supply, which continues apace.
We agree, at least, that prices are higher with out (much) "real" growth to support them. But even if your premise is correct, that massive unemployment will lead to price cuts, like I said before prices/wages upwards are "sticky". And deflation is not price cuts, you're mixing up the technical definition of the word. Deflation is your money being worth more because of a contraction of the money supply. Price cuts for unsold inventory are not deflation, systematically.
Last point, what does government do when people are out of work in a recession? Why they do stimulus packages! They throw money at the problem, meaning that inflation will continue.
Will we be 1990s Japan? Maybe. Japan is to peaceful for an apt comparison. We will be more like 1990s Argentina with their hyperinflation.
Deflation is rare, because monetary policy is to increase the money supply. Deflation, when it does occur, is after unique circumstances, and is usually confined to one field. Farm prices in America after WWI deflated prior to the Depression, because once Europe started planting crops again, there was a glut of product. But despite the Depression, deflation didn't occur across the entire economy. Demand dropped, and so suppliers responded by producing less.
The fed exists to protect organized rich interest groups, which, coincidentally, believe in "modern monetary theory" and which want inflation to continue because of the enormous debt.
If I knew you in person, I'd bet you a steak dinner that inflation continues above 5% for another 4 years.
Ron Paul taught me that’s called “STAGflation”... the “stag” part means you have to be single and live with 7 roommates to survive.
Stagflation is when you have the rare combination of economic recession or slow down, and inflation. Stagnation + inflation.
This leaves a central bank in an awkward position. The tools at its disposal are only useful for combatting one of these problems at a time.
If they try to tighten the money supply and raise rates to deal with inflation, it could make the coming recession worse.
So you end up in a situation where there's no clear policy prescription to get out.
This typically only happens when you have a price shock with a key commodity... which is exactly what happened with oil.
I personally don't think any of this is random. Part of the great reset plan imo.
AKA theft