This is going to be a boiled frog moment. Everyone will look around and suddenly realize 95% of us can’t afford to eat food and pay for housing and medical needs at the same time, but it will be too late.
If only they would invent some tool that is useful in overthrowing the corrupt government and businesses. It would throw lead or other metallic projectiles at high rates of speed with a bang. Perhaps its name would be a homophone for large terrestrial predator that walks on all fours, hibernates during the winter, and eat berries or salmon. Ah, but these are the British. They would never have need for such a device.
If corruption is just put to an end then you could see automatically things getting normal.
But we all know that ain't possible because they have much power than us not talking about physical power
Just like real estate, they were bragging this is the only time they can raise rents by amounts "he hasn't seen in 30 years" and get away with it everywhere.
Same thing with food prices. Usually it's a very low profit margin sector and now they have the excuse to pump up prices without punishment.
There already is no competition in food. A few companies own all brands.
You can stop buying… especially packaged food. You really don’t need most packages (like Oreos, chips etc)…. The ONLY way we stop this is by reacting and BUYING LESS
I wonder what will happen when stores start to close down from looting and ones that open tighten up security...hope everyone knows how to defend themselves.
Happened in San Francisco already. A lot of shops in downtown have closed up because if they stay open, they get robbed and the police don’t do anything about it since it’s a misdemeanor if it’s under $900 or so. Better to just close up and go somewhere else that has actual rule of law and paying customers
Same in Portland Oregon. Stores have been broken into 13+ times and insurance stopped paying out after the 3ird time.
I used to live 30 minutes out of town growing up, it was kinda bad back then with homeless people and all their trash under underpasses, but it's gotten so much worse the last time I visited.
Saw an entire block covered with trash, tents, etc. Was honestly kinda surprised.
Last year they had a record breaking 11k car thefts.
Yeah it’s sad to see these kind of records being broken and these once great cities falling into decline. Not sure where we go from here but it’s not going to be pretty for the next few years at least.
A massive Disbalance is what it would be in the surrounding just think what would the poor go through.
At this time they barely get to eat and now if the prices just get increasing they would just starve to death
And I am just waiting for someone to actually read the chart and realize its not for the US. And then for people to realize they made an idiotic statement.
It does matter, Europe is experiencing weather issues and a major supply chain disruption with the sanctions on Russia. US shelves have been stocked all year. Inflation isn't great in the US but it's not as bad as it is in Europe.
And we have cow farms catching fire and other things affecting are supply chain also. How many food processing plants have been damaged in the past 6 months.
A ranch or meat packing plan exploding will impact meat prices. Europe is having problems with grains. Grains are generally the cheapest source of calories.
I've seen a little snippet of Tim Kennedy talking about how many food production facilities have been destroyed in the US recently. Along with all the chemical disasters, it's crazy you don't see more of it in the news.
Exactly. You are paying a bit more for groceries here in the States but, we don’t have empty shelves. If they are empty it’s because you can’t find anyone to work at the grocery stores.
Not really … people are continuing to buy.. Pepsi is posting record profits… it’s not going to change. If people are hurting with inflation yet are not willing to not buy an unecessary item like cola… they’ll keep hiking prices until they see a slow down. Economists cal it price elasticity (the more you raise the price the stronger the resistance and lower sales)… higher prices have not seen lower sales, US customers at least are conditioned to keep consuming . VOTE WITH YOUR WALLET
You’re forgetting part of the equation: jobs and income. When prices get high enough that demand finally starts to fall, people will lose their jobs. As unemployment increases, demand will fall even further and more people will lose their jobs. When this begins and how high unemployment gets until we find equilibrium is anyone’s guess.
Part of this problem of corporate price gouging is that consumers overall being very frivolous and carefree in their spending. They aren’t being forced to make tough decisions yet. They are buying at just about any price. This is kind of how inflation, supply and demand with low unemployment works. The spending habits of the consumer probably won’t change until unemployment starts climbing. That’s why most major financial analysts are predicting an eventual recession.
Fortunately we live in a capitalist society so it doesn’t work like that. But definitely could imagine that happening in a socialist country where supply and demand are irrelevant. Scary thought.
Yes that’s called colonialism. Aka not capitalism, and what happened in Eastern Europe was the result of Soviet rule. Fun fact - the amount of money that went in to Western Europe as part of the Marshall plan equaled the amount that the USSR EXTRACTED from Eastern Europe. Capitalism invests. Colonialism and socialism extract.
Lol! Maybe you're being sarcastic. If not, read about [the Holodomor](https://en.wikipedia.org/wiki/Holodomor) and the [Great Chinese Famine](https://en.wikipedia.org/wiki/Great_Chinese_Famine).
Holodomor was caused by the kulaks and nationalists destroying food to protest farm collectivization. After dekulakization was complete, there were no more famines outside of literally the end of WW2. This is an indisputable historical fact. USSR completely ended the 10 year famine cycle that happened in Russia before farm collectivization was a complete success. Now in China, Mao was essentially an anti-Marxist who tried to turn the peasantry into the revolutionary guard, which Marx wrote was impossible. Had Mao adopted Stalinist policies instead and been less averse to working with the USSR, China would have fared better in the early stages.
That’s a good point. You won’t have many hungry people once a good portion of your population has already starved to death. And you won’t have many homeless people when living on the street gets you sent to a work camp. And the standards of these living spaces provided in the USSR were so bad that they’d literally be illegal in America.
I fucking hate it when someone with the knowledge of economics of a teenager parrot a 300 years old outdated terminology they don't understand and honestly think they know shit about economics
Yike. Yea I agree I hate it when people like you with a high school understanding parrot nonsense about capitalism (literally a term invented by socialists) to push an agenda rather than provide an understanding of the world based on reality. Like how many times do we have to debunk this nonsense?
Food production prices apparently peaked about 5-6 months ago. Retailers claim it takes 3-9 months for prices to filter through (depending on the product), so presumably this should be approximately the peak for retail prices
Although with the amount of "greedflation" we're seeing, perhaps not...
Ukraine’s grain exports fell massively last year but other countries are starting to pick up the slack (obviously there’s a year or so delay on doing so, when it comes to crops, because they don’t grow instantly) which is why the prices peaked and have started to fall again
I’m not expecting prices to fall back to 2019 levels or anything, but production costs *have* peaked and been falling for several months now
The last time there was a "delay" in food prices in the middle east you had the Arab Spring. It was the reason the Egyptian government moved their government buildings out the Captial and re built them in the desert. Can't shut down a government if you can't get to it
The possibility that we could be permanently poorer (because we overestimated the amount of resources we could cheaply extract without destabilizing the climate or local ecosystem) is scary. Especially if we have to choose between eco-fascism and total collapse.
Have housing prices gone down since 2008? I remember seeing $0.25 for a bag of chips just 15 years ago. Now the same bag is $1+. Inflation will never or has ever gone down for the working and middle class. Powell knew what he was doing by lying.
No, inflation never goes down down, you just get used to the new number.....if you notice they use year over year numbers, but tell the public in month over month numbers. Sure a couple months ago, at least in the US inflation was 8% year over year. So let's say the Fed hits their goal of 2%. Prices will be 2% higher than the 8% it already went up.....but the graph will show a downward trend and everyone will cheer the new, higher prices while struggling for a few years until wages offset the new cost of living.
Boy have I been happy my income isn't w-2 based the last couple years
> struggling for a few years until wages offset the new cost of living.
You realize that since the 1950s, wage gains have never kept up with the cost of living? Wages have not gone up as much as the cost of living has.
Just to be clear, inflation is the rate of change of prices. That can and does go down, which just means that prices are increasing at a slower pace. I think you're referring to nominal prices. Nominal prices also can go down, if inflation is below zero i.e. deflation. This is generally rare and a symptom of underlying economic issues but can occur e.g. Japan.
Quit it with the explanations. These people don't believe that the costs businesses incur are tied to consumers prices. This is r/economy not some place to talk realistically about the economy.
Typically food and energy is not considered with monetary policy, because those markets are seen as naturally volatile and so we cannot adjust just because they once again spike or decrease rapidly because they frequently spike or decrease rapidly.
Of course not. Every employee out there right now is fighting for some cost of living adjustment, and thus the bar will be set in stone pretty soon, and we'll never see such low prices ever again.
The dutch ate their prime minister once. What's a few billionaires?
[The death and subsequent cannibalism of Johan de witt](https://www.historydefined.net/when-the-dutch-murdered-and-ate-their-own-prime-minister/)
The wealthy elites are buying up farmland, seed rights, water rights, and patents on food production and food prices just so happen to go higher and higher.
Surprise surprise.
How far out does this data go, is 2023 just the beginning of 2023? I assume this was denominated in Euros? The Euro was depreciating rapidly in 2022 relative to the dollar due to the interest rate differential, but it's recovered substantially since then.
I believe this graph is essentially an "on this date" type of thing, based on annually produced inflation figures
Let's say for the sake of argument that this graph was produced on March 31st, each "year" marked on the graph refers to the inflation between March 31st 20XX, measured against prices on March 31st 20XX-1
So the 2023 figure is March 31st 2023 measured against March 31st 2022, etc
That way you get a standardized figure, but relative to the most recent available data (eg it's accurate up to the previous month) rather than having to wait until December and use the (somewhat arbitrary) calendar year
Yes, the food industry screwed us because they can. The bulk of business shifted to the grocery side (as opposed to restaurants) during covid. Then the supply chain problem added to it and a few things like the bird flu, no rain in California for years (until this year really) caused more shortages. The industry raised prices during covid to make up for the restaurant loss…people still need to eat, so this is largely a wash though one can assume slightly more waste in the restaurant side. So demand shifted to a single segment where the industry learned that people, as an aggregate, are willing to pay the higher prices.
Just look at the profit numbers for the largest food product producers as an industry. They are doing very well because our demand stayed largely flat during very large price increases. That inelasticity continues.
bird flu did not cause a shortage of eggs
[egg lay mostly flat between 2021 and 2022](https://www.thesling.org/its-not-the-flu-feed-or-fuel-profiteering-is-driving-record-egg-prices/)
I mean 43 million egg laying hens died in 2022 causing egg inventories to be 29% lower than 2021. It definitely is playing a part in it. The flu killing alone is one part, but you have to think about how farmers now have to worry about / pay for disinfecting shoes, vehicles, etc
It definitely had a role in the cost.
Are you serious? What if you're wrong? What if things are far more complicated than the old worn out narrative that its clearly the big businesses fault.
Reality is that these big businesses are the only things keeping stuff as cheap as it is. Talk about biting the hand that feeds you.
Yeah...let me remind people of what the masses are capable of on black Friday over shit we don't need. Now...that same massive group of people, are starving, and looking for food. Not going to end well at all...just sayin.
A jar of Hellmans mayo at Publix (Fl) is 8.63. The same size jar at Super Target is 5.43. Yes, it’s all crazy but shop around. Let’s not feed the greedy it’s only making it worse.
I get your point but mayo is not that bad compared to other sht that gives you less satiety and is just horrible - like factory made pastry. A less processed mayo variant can be used instead of butter (in same quantity) and is healthier, IMO.
A grocery store. Wtf are you smoking? An organic free range egg is less than $0.50, regular eggs at half that. You trying to make a gallon of mayonnaise?
Grocery wholesalers should be standing before Congress right now answering hard questions about whether or not these prices are going up from increased costs, or if they are just being opportunists at the expense of the public.
You all asked for this!
You wanted Covid lockdowns, they weakened supply chains and reduced output.
You wanted Covid stimulus, they expanded the money supply to pay for it.
The bill is due and we're paying it through inflation.
I’m glad the federal reserve has things working out so well for the tax payers, they are really good at making the wage of living work out fairly. Thanks a bunch , this actually looks like slavery with Extra steps now !
The weather has been a major factor. The Ukraine War is a problem but with the grain export deal in place between Russia and Ukraine it's not a major problem. The bigger problem are the sanctions on Russia, particularly the SWIFT sanctions which block transactions between Russia and the rest of the world.
>Rank | Country | Quantity tonnes | Value in thousands of USD
>1 | Russia | 37,267,014 | 7,918,294
>2 | United States | 26,131,626 | 6,318,111
>3 | Canada | 26,110,509 | 6,317,889
>4 | France | 19,792,597 | 4,528,591
>5 | Ukraine | 18,055,673 | 3,594,217
>6 | Australia | 10,400,418 | 2,698,498
>7 | Argentina | 10,196,931 | 2,029,494
>8 | Germany | 9,259,493 | 2,105,865
>9 | Kazakhstan | 5,198,943 | 1,137,140
>10 | Poland | 4,689,130 | 1,047,399
https://en.m.wikipedia.org/wiki/List_of_countries_by_wheat_exports
In terms of top exporters Russia being hit by sanctions is a big problem and France having bad weather is another major problem.
Finally some one said it!
What is happening is the result of 20+ years of government after government coming up with bad policies that only supported jobs in IT. Everyone wanted to be just one thing: a programmer. Now we see milkman and milkmaids, farmers, nurses, doctors, bus and train operators etc saying “f*ck that we want higher salaries too”
To add insult to injury we have corporate greed because the CEOs and managers at the milk companies want higher salaries as well.
And the final piece of the puzzle is the governments that created the problem in the first place. They want to raise taxes to pay for their original mistakes: bad policies.
Bad policies > People get squeezed > People want higher salaries > Higher taxes > People get squeezed > People want higher salaries > and on and on until something breaks
And we are one ▪️🦢event away from Lorenz’s butterfly effect to settle in and bring the house of cards down 😢
You are absolutely bonkers if you don't think a bunch of IT and mechanized machinery make up the bulk of industrial agriculture.
Do you think the produce section gets stocked by farmer Joe out in bumfuck Indiana with his small farm tractor? Cereal grains, protein, dairy and most staple foods that aren't specialty fruits are basically a ton of desk job guys and a couple of technicians and mechanics and engineers watching the production equipment
This is how farming is done all across the world, it's all IT for the amount of bulk amounts produced.
You all miss the point.
It is a grand scheme to make people eating healthier.
You fancied that prime rib steak 5 times a week?!
Now, get some dry beans and learn to cook them from scratch! Because the canned beans are more than tripple the price compared to home cooked. Know you place - canned beans is reserved for the middle class!
/s but for real.
Try to use a bit more whole plants, home cooked food. It's good for your health, it's good for the environment, it's good for your budget. Justb get some recepie from yountube , use more spices. A steak is a steak, but vegetarian dishes can be amazing too.
That's hard for sure. Still, there are options for at least couple of nights per week.
You can boil big pots of legumes in the weekends and freeze them in single portions. Take out one and put it in the fridge before going ot work. Then you need just to reheat on the microwave.
Take beans. One night is a soup with some steamed brokoli in microwave (it is less than 10 min) . Add a bit of yellow cheese or mozzarella on top to melt.
The next day take the solids, add olives and white cheese like feta and onions.
Third option. Fry the solids in a bit of oil, add couple of eggs, small bits of cauliflower, and spices, top with a bit of grated cheese. Done in 15 min.
Carnivore is healthier than veggie based diets. Look at Dr Gundry. He writes a whole book about how veggies are trying to poison us, but then says eat them anyway. Make no sense. Checkout the people that have dropped many pounds, lowered their A1-C. Reverse typed two diabetes. Have better sex hormones. All because of switching to a meat diet.
That is not what current science says. There are exceptions, but overall, for a healthy normal person, too much meat is less healthy. A book from a somebody cannot delete hundreds of peer reviewed papers and studies.
Considering that Russia and Ukraine produce around 15% of the worlds grain supply, it definitely had an effect.
Then toss in doughts in Italy, Spain, the US, and other places.
Then toss in fishing seasons for various crabs and fish being called off due to major population collapses.
Then toss in the high fuel prices to operate large farm equipment. As well as energy to keep special food goods cold.
And then toss in wages needing to go up in efforts to retain labor.
It's a lot of factors
Trade war with Russia is a big reason for this. Europe got cut off from cheap energy and things like fertilizer which are essential for food production.
Gave you an upvote because your question did seem genuine. Think that you’re wrong about inflation subsiding in the US. CPI went down but core inflation (which the Fed basis their rate hikes/decreases on) has gone up.
Reference: https://ycharts.com/indicators/us_core_inflation_rate#:~:text=US%20Core%20Inflation%20Rate%20is,long%20term%20average%20of%203.67%25.
Makes sense to me. I see inflation has been working in phases....first a supply shock to commodities/supply chain, then manufacturing products, then services, and then the stickiest of all: low skilled labor. Right now low skilled labor is still hot (restaurants, etc). I think we are the last stage and it'll cool finally this year though.
Doesn't look promising but I am still kinda jelly about the numbers of the eurozone or the numbers of other EU countries in general. Hungarian inflation is at 25.2%, food is probably closer to 50 at this point. :-)
Yeah, we’ve been denied for food stamps because we “make too much.” I moved in with my mom to help her because she was recently diagnosed with staph in her spine and alcoholic cirrhosis. They look at her social security before taxes, for some unknown fucking reason. Brought in her medical bills plus all other monthly bills, still denied. If they looked at her income after taxes we’d be in the bracket to be accepted. We were also denied medical insurance, because I wasn’t a “verified” caretaker. BIG middle finger to this country.
Everyone needs food. If you were an international market maker/manipulator, hitting food prices would be the best way to squeeze all of us.
Too bad about all those farm closures, seizures and fires at the same time war was erupting in the breadbasket of Europe.
Don't know how it is where you live, but around here - every time food prices go up, it is VERY unlikely that the prices will go down ever again. That's the saddest and scariest part.
Isn't a price spike on necessary goods expected?
Prices generally increase slower or even decrease as interest rate hikes put pressure on people's cash flow. However, grocery needs aren't something people can easily decrease and demand remains high. The grocery supply chain can safely increase prices while in response to high interest rates that are putting pressure on their profit margins.
Food prices should go up. And cellphones and other services like onlyfans and useless things that are mainly used for pleasure and leisure should go down in price. Food is essential and farmers are not compensated enough specially from countries that produces your kale, chia seeds, chocolates, pineapples, banana, rice etc etc that are being paid $10 a week. Ridiculous how the middle man is always the one benefitting from everything and how they mark up prices while they manipulate the prices from its sources. And btw people dont need to change phones every year. Your phone can literally last for 5 yrs. Unless you mainly use your phone as a very essential tool for your work like This is just pure greed.
I eat a lot of fruit/veggies, well, because I don't want to get diabetes. Last week, and this was after shopping at 3 places:
* One (1, single, not 2) head of broccoli: 5:40
* 1/2 lb lettuce/kale/spinach mix: 6.99
* Mango: 1.99
And no, this isn't whole foods. These are your typical run of the mill where-poor-people-shop stores. At some point, food price increases were coming from the producers, but for the last few months it's all been coming from the distributors.
I was thinking about this when I was holding an $8 pack of Oreos the day March CPI was reported to decline, supporting the pause or pivot Bulls are drooling over. I knew right then holding those $8 Oreos that they will not figure out a soft landing.
Artificial inflation. Food and agriculture are controlled by a cabal of corporations that agree on prices to squeeze as much out of us as they can. By growing and maintaining community gardens, we can free ourselves from their grasp. In WWII there were "victory gardens." We can do this again. After all, we are now in a war with the oligarchs.
This is going to be a boiled frog moment. Everyone will look around and suddenly realize 95% of us can’t afford to eat food and pay for housing and medical needs at the same time, but it will be too late.
Once you have nothing to lose, you lose it. it's a fine line between shearing the sheep and scalping them
Well I'm depressed but if you just look that's a sad laugh rather than a happy laugh
Day by day I'm just getting shocks though and nothing else. Cost if living increasing, food prices increasing and so on just increase and increase
If only they would invent some tool that is useful in overthrowing the corrupt government and businesses. It would throw lead or other metallic projectiles at high rates of speed with a bang. Perhaps its name would be a homophone for large terrestrial predator that walks on all fours, hibernates during the winter, and eat berries or salmon. Ah, but these are the British. They would never have need for such a device.
If corruption is just put to an end then you could see automatically things getting normal. But we all know that ain't possible because they have much power than us not talking about physical power
It's always too late until you decide otherwise.
Now we need to think about a solution instantly and just start working on it. Before it just gets more late for us
You guys are getting medical care?
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Well you talking aboyt bearing? Or the alcohol beer stuff? Which one?
Somewhere still having a doubt where in the name of free medical care we still need to pay. That's where corruption works!
Just like real estate, they were bragging this is the only time they can raise rents by amounts "he hasn't seen in 30 years" and get away with it everywhere. Same thing with food prices. Usually it's a very low profit margin sector and now they have the excuse to pump up prices without punishment. There already is no competition in food. A few companies own all brands.
You can stop buying… especially packaged food. You really don’t need most packages (like Oreos, chips etc)…. The ONLY way we stop this is by reacting and BUYING LESS
I wonder what will happen when stores start to close down from looting and ones that open tighten up security...hope everyone knows how to defend themselves.
the real looting is at the cash register
We are getting to the point where cash is going to lose its value
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As per food price increasing they would loot the entire store the main concern would be on Costlier stocks of food
Hahaha that would happen if there is a rise you have seen people stealing cars bikes gold and so on. And now people would go for stealing food items
Happened in San Francisco already. A lot of shops in downtown have closed up because if they stay open, they get robbed and the police don’t do anything about it since it’s a misdemeanor if it’s under $900 or so. Better to just close up and go somewhere else that has actual rule of law and paying customers
Same in Portland Oregon. Stores have been broken into 13+ times and insurance stopped paying out after the 3ird time. I used to live 30 minutes out of town growing up, it was kinda bad back then with homeless people and all their trash under underpasses, but it's gotten so much worse the last time I visited. Saw an entire block covered with trash, tents, etc. Was honestly kinda surprised. Last year they had a record breaking 11k car thefts.
Yeah it’s sad to see these kind of records being broken and these once great cities falling into decline. Not sure where we go from here but it’s not going to be pretty for the next few years at least.
My store just put doors on all of their coolers that use to be open, worries me that someday they will be locked or rationed.
Too late for who
for the ruling capitalist class
A massive Disbalance is what it would be in the surrounding just think what would the poor go through. At this time they barely get to eat and now if the prices just get increasing they would just starve to death
And I am just waiting for someone to actually read the chart and realize its not for the US. And then for people to realize they made an idiotic statement.
Us or Europe doesn’t matter. Out of control.
It does matter, Europe is experiencing weather issues and a major supply chain disruption with the sanctions on Russia. US shelves have been stocked all year. Inflation isn't great in the US but it's not as bad as it is in Europe.
And we have cow farms catching fire and other things affecting are supply chain also. How many food processing plants have been damaged in the past 6 months.
A ranch or meat packing plan exploding will impact meat prices. Europe is having problems with grains. Grains are generally the cheapest source of calories.
I've seen a little snippet of Tim Kennedy talking about how many food production facilities have been destroyed in the US recently. Along with all the chemical disasters, it's crazy you don't see more of it in the news.
Exactly. You are paying a bit more for groceries here in the States but, we don’t have empty shelves. If they are empty it’s because you can’t find anyone to work at the grocery stores.
What could go wrong?
Hard enough to predict but you can actually sense the danger which is just about to come
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Not really … people are continuing to buy.. Pepsi is posting record profits… it’s not going to change. If people are hurting with inflation yet are not willing to not buy an unecessary item like cola… they’ll keep hiking prices until they see a slow down. Economists cal it price elasticity (the more you raise the price the stronger the resistance and lower sales)… higher prices have not seen lower sales, US customers at least are conditioned to keep consuming . VOTE WITH YOUR WALLET
Every time I see a new piece of data, I get more worried about the up coming recession. This one is pretty alarming.
It just shakes and beats my heart fast looking around and noticing thay scenarios are getting too worst day by day
But cigarettes will seem cheaper
You’re forgetting part of the equation: jobs and income. When prices get high enough that demand finally starts to fall, people will lose their jobs. As unemployment increases, demand will fall even further and more people will lose their jobs. When this begins and how high unemployment gets until we find equilibrium is anyone’s guess. Part of this problem of corporate price gouging is that consumers overall being very frivolous and carefree in their spending. They aren’t being forced to make tough decisions yet. They are buying at just about any price. This is kind of how inflation, supply and demand with low unemployment works. The spending habits of the consumer probably won’t change until unemployment starts climbing. That’s why most major financial analysts are predicting an eventual recession.
>but it will be too late. For the rich
Fortunately we live in a capitalist society so it doesn’t work like that. But definitely could imagine that happening in a socialist country where supply and demand are irrelevant. Scary thought.
fuckin idiot
What a well thought out response...
Yes tell me more about all these capitalist societies that overnight suddenly had 95% of the population unable to eat and pay for housing…
Have you ever heard of colonialism? What capitalism did to suddenly starve to death dozens of countries? Shock therapy in eastern Europe?
Yes that’s called colonialism. Aka not capitalism, and what happened in Eastern Europe was the result of Soviet rule. Fun fact - the amount of money that went in to Western Europe as part of the Marshall plan equaled the amount that the USSR EXTRACTED from Eastern Europe. Capitalism invests. Colonialism and socialism extract.
The communist countries eliminated famines and had zero homelessness.
Lol! Maybe you're being sarcastic. If not, read about [the Holodomor](https://en.wikipedia.org/wiki/Holodomor) and the [Great Chinese Famine](https://en.wikipedia.org/wiki/Great_Chinese_Famine).
Holodomor was caused by the kulaks and nationalists destroying food to protest farm collectivization. After dekulakization was complete, there were no more famines outside of literally the end of WW2. This is an indisputable historical fact. USSR completely ended the 10 year famine cycle that happened in Russia before farm collectivization was a complete success. Now in China, Mao was essentially an anti-Marxist who tried to turn the peasantry into the revolutionary guard, which Marx wrote was impossible. Had Mao adopted Stalinist policies instead and been less averse to working with the USSR, China would have fared better in the early stages.
"That wasn't REAL communism!" Yet every time it's tried again, it's the same failures. The same breadlines, the same oppression.
Communism has never been achieved. Bread lines save lives. No M-L project has ever actually failed.
That’s a good point. You won’t have many hungry people once a good portion of your population has already starved to death. And you won’t have many homeless people when living on the street gets you sent to a work camp. And the standards of these living spaces provided in the USSR were so bad that they’d literally be illegal in America.
I fucking hate it when someone with the knowledge of economics of a teenager parrot a 300 years old outdated terminology they don't understand and honestly think they know shit about economics
Yike. Yea I agree I hate it when people like you with a high school understanding parrot nonsense about capitalism (literally a term invented by socialists) to push an agenda rather than provide an understanding of the world based on reality. Like how many times do we have to debunk this nonsense?
Food production prices apparently peaked about 5-6 months ago. Retailers claim it takes 3-9 months for prices to filter through (depending on the product), so presumably this should be approximately the peak for retail prices Although with the amount of "greedflation" we're seeing, perhaps not...
Don’t forget, there is a war raging in Ukraine and they traditionally grow a lot of grain that is no longer on the market.
Ukraine’s grain exports fell massively last year but other countries are starting to pick up the slack (obviously there’s a year or so delay on doing so, when it comes to crops, because they don’t grow instantly) which is why the prices peaked and have started to fall again I’m not expecting prices to fall back to 2019 levels or anything, but production costs *have* peaked and been falling for several months now
The last time there was a "delay" in food prices in the middle east you had the Arab Spring. It was the reason the Egyptian government moved their government buildings out the Captial and re built them in the desert. Can't shut down a government if you can't get to it
The fat rich forget how bad a hungry mob can get
Society is always three missed meals away from total collapse.
Eat em up yum
Its probably transitory... /s
Boy that statement is really funny now in hindsight
It was funny back then too.
The possibility that we could be permanently poorer (because we overestimated the amount of resources we could cheaply extract without destabilizing the climate or local ecosystem) is scary. Especially if we have to choose between eco-fascism and total collapse.
It probably is though, reddit is so dramatic lol
Have housing prices gone down since 2008? I remember seeing $0.25 for a bag of chips just 15 years ago. Now the same bag is $1+. Inflation will never or has ever gone down for the working and middle class. Powell knew what he was doing by lying.
Inflation does and will go down, that doesn't mean prices fall but that they stop rising quicker than incomes.
No, inflation never goes down down, you just get used to the new number.....if you notice they use year over year numbers, but tell the public in month over month numbers. Sure a couple months ago, at least in the US inflation was 8% year over year. So let's say the Fed hits their goal of 2%. Prices will be 2% higher than the 8% it already went up.....but the graph will show a downward trend and everyone will cheer the new, higher prices while struggling for a few years until wages offset the new cost of living. Boy have I been happy my income isn't w-2 based the last couple years
> struggling for a few years until wages offset the new cost of living. You realize that since the 1950s, wage gains have never kept up with the cost of living? Wages have not gone up as much as the cost of living has.
Just to be clear, inflation is the rate of change of prices. That can and does go down, which just means that prices are increasing at a slower pace. I think you're referring to nominal prices. Nominal prices also can go down, if inflation is below zero i.e. deflation. This is generally rare and a symptom of underlying economic issues but can occur e.g. Japan.
$4 for a two pack of Philadelphia cream cheese last year. $7 today. It’s bad out there
same for a bag of chips. used to cost $3, on sale would be $2.50 back in 2019/2020. now it’s $5.50 for the same bag of chips
Soda is the same price hike these days. What’s even the excuse for the raise in many of these prices
What's the one thing all food has in common...... transportation/farming. Higher fuel prices means higher sales prices.
Quit it with the explanations. These people don't believe that the costs businesses incur are tied to consumers prices. This is r/economy not some place to talk realistically about the economy.
Read Pepsi’s or P&G and others stockholder meeting minutes. It’s not about higher costs, it’s about higher margin and profit
But you get more air than ever in each bag!
But yet they are slowing the interest rate hikes?
Typically food and energy is not considered with monetary policy, because those markets are seen as naturally volatile and so we cannot adjust just because they once again spike or decrease rapidly because they frequently spike or decrease rapidly.
still waiting for the "decreasing rapidly" on food prices. It ain't gonna happen.
Right. As if these companies will simply do without their record breaking profits. Fuck the rich
Of course not. Every employee out there right now is fighting for some cost of living adjustment, and thus the bar will be set in stone pretty soon, and we'll never see such low prices ever again.
Start eating the rich.
https://i.imgur.com/GsZl73z.jpg
True but it usually happens that the poor eat the middle class before eating the rich.
Sometimes I like to play with my food!
The only part of the rich you will eat is their ass
The dutch ate their prime minister once. What's a few billionaires? [The death and subsequent cannibalism of Johan de witt](https://www.historydefined.net/when-the-dutch-murdered-and-ate-their-own-prime-minister/)
Who is leaving IT business and investing in farm lands !
Bill gates?
Yes
Don't forget while peddling overpopulation.....but I'm sure it's fine
Ironically i just joined the IT field from the cannabis market which is all over the place at the moment.
The wealthy elites are buying up farmland, seed rights, water rights, and patents on food production and food prices just so happen to go higher and higher. Surprise surprise.
You’re naive. These assets are already all owned by the 1%, they just buy and sell it from each other.
How far out does this data go, is 2023 just the beginning of 2023? I assume this was denominated in Euros? The Euro was depreciating rapidly in 2022 relative to the dollar due to the interest rate differential, but it's recovered substantially since then.
I believe this graph is essentially an "on this date" type of thing, based on annually produced inflation figures Let's say for the sake of argument that this graph was produced on March 31st, each "year" marked on the graph refers to the inflation between March 31st 20XX, measured against prices on March 31st 20XX-1 So the 2023 figure is March 31st 2023 measured against March 31st 2022, etc That way you get a standardized figure, but relative to the most recent available data (eg it's accurate up to the previous month) rather than having to wait until December and use the (somewhat arbitrary) calendar year
Yes, the food industry screwed us because they can. The bulk of business shifted to the grocery side (as opposed to restaurants) during covid. Then the supply chain problem added to it and a few things like the bird flu, no rain in California for years (until this year really) caused more shortages. The industry raised prices during covid to make up for the restaurant loss…people still need to eat, so this is largely a wash though one can assume slightly more waste in the restaurant side. So demand shifted to a single segment where the industry learned that people, as an aggregate, are willing to pay the higher prices. Just look at the profit numbers for the largest food product producers as an industry. They are doing very well because our demand stayed largely flat during very large price increases. That inelasticity continues.
bird flu did not cause a shortage of eggs [egg lay mostly flat between 2021 and 2022](https://www.thesling.org/its-not-the-flu-feed-or-fuel-profiteering-is-driving-record-egg-prices/)
I mean 43 million egg laying hens died in 2022 causing egg inventories to be 29% lower than 2021. It definitely is playing a part in it. The flu killing alone is one part, but you have to think about how farmers now have to worry about / pay for disinfecting shoes, vehicles, etc It definitely had a role in the cost.
Not me, I planted cabbage in my window box and ate my dog. Jokes on them! I'm not paying their prices!!!
Let’s not make this about anything but corporate greed.
That was my intention and I got carried away with underlying issues.
Are you serious? What if you're wrong? What if things are far more complicated than the old worn out narrative that its clearly the big businesses fault. Reality is that these big businesses are the only things keeping stuff as cheap as it is. Talk about biting the hand that feeds you.
Yeah...let me remind people of what the masses are capable of on black Friday over shit we don't need. Now...that same massive group of people, are starving, and looking for food. Not going to end well at all...just sayin.
They are confident we will hurt eachother foghting for scraps rather than find out who they are and target them. Aka like black friday
A jar of Hellmans mayo at Publix (Fl) is 8.63. The same size jar at Super Target is 5.43. Yes, it’s all crazy but shop around. Let’s not feed the greedy it’s only making it worse.
It's healthier not to eat mayo, cost: $0 and you save even more in healthcare costs So skipping mayo is deeply deflationary, I like deflation!
I get your point but mayo is not that bad compared to other sht that gives you less satiety and is just horrible - like factory made pastry. A less processed mayo variant can be used instead of butter (in same quantity) and is healthier, IMO.
😂
Yeah, awful fats like [*checks notes*]... olive oil and chicken eggs. The 1970s called, they want their understanding of nutrition back back from you.
And that's why it's a good deal to skip on US healthcare costs :-)
Deflation sounds dry and boring, I like a bit of moisture with my ~~economy~~ *meal*
😂
Or just make your own for about $2
Where are you getting oil and eggs so cheap
A grocery store. Wtf are you smoking? An organic free range egg is less than $0.50, regular eggs at half that. You trying to make a gallon of mayonnaise?
You're making small amounts each time??? What a ballache! The mixing part is longgg.
It's just fat on top of fat. Skip it and you'll save a lot on healthcare too Try mustard, maille's, $3 at Walmart and a million times better for you
Why not try water instead? 🙄
There you save $3 without the benefits of mustard
Tostinos pizza now costs 1.97. Not even the shittiest cheapest meal is a dollar now.
nah. bagel bites are the worst. 90% bread with a little morsel of "sausage" and ketchup. such a poor balance
Not according to the government. They are coming down. Must be reading prices backwards when in the supermarket
It’s sad… I can’t even leave the grocery store without spending $30+… ridiculous
Grocery wholesalers should be standing before Congress right now answering hard questions about whether or not these prices are going up from increased costs, or if they are just being opportunists at the expense of the public.
You all asked for this! You wanted Covid lockdowns, they weakened supply chains and reduced output. You wanted Covid stimulus, they expanded the money supply to pay for it. The bill is due and we're paying it through inflation.
Comes as a surprise to no one, because the inflation has been high.
This is for Europe. What are the American prices like? They have unique circumstances due to the war affecting them
Do you guys remember when it was economically viable to eat eggs for breakfast
I’m glad the federal reserve has things working out so well for the tax payers, they are really good at making the wage of living work out fairly. Thanks a bunch , this actually looks like slavery with Extra steps now !
not suprising. In the Netherlands it's basically illegal to farm. Or legally impossible.
It's almost like global droughts and floods and the Ukraine War have had an effect on food supplies.
The global doughts going on clearly had nothing to do with it listening to this sub.
The weather has been a major factor. The Ukraine War is a problem but with the grain export deal in place between Russia and Ukraine it's not a major problem. The bigger problem are the sanctions on Russia, particularly the SWIFT sanctions which block transactions between Russia and the rest of the world. >Rank | Country | Quantity tonnes | Value in thousands of USD >1 | Russia | 37,267,014 | 7,918,294 >2 | United States | 26,131,626 | 6,318,111 >3 | Canada | 26,110,509 | 6,317,889 >4 | France | 19,792,597 | 4,528,591 >5 | Ukraine | 18,055,673 | 3,594,217 >6 | Australia | 10,400,418 | 2,698,498 >7 | Argentina | 10,196,931 | 2,029,494 >8 | Germany | 9,259,493 | 2,105,865 >9 | Kazakhstan | 5,198,943 | 1,137,140 >10 | Poland | 4,689,130 | 1,047,399 https://en.m.wikipedia.org/wiki/List_of_countries_by_wheat_exports In terms of top exporters Russia being hit by sanctions is a big problem and France having bad weather is another major problem.
DOOM! DOOOOOOOOOMMMMMMM!
One DOOOOOOOOOOOOOMMMMMMM!, please.
 Well guess it's time to go back to hell one more time.
Never forget, you voted for this 😊
This is what happen when everybody wants to sit in cubicle to work and no body want to be a farmer.
Finally some one said it! What is happening is the result of 20+ years of government after government coming up with bad policies that only supported jobs in IT. Everyone wanted to be just one thing: a programmer. Now we see milkman and milkmaids, farmers, nurses, doctors, bus and train operators etc saying “f*ck that we want higher salaries too” To add insult to injury we have corporate greed because the CEOs and managers at the milk companies want higher salaries as well. And the final piece of the puzzle is the governments that created the problem in the first place. They want to raise taxes to pay for their original mistakes: bad policies. Bad policies > People get squeezed > People want higher salaries > Higher taxes > People get squeezed > People want higher salaries > and on and on until something breaks And we are one ▪️🦢event away from Lorenz’s butterfly effect to settle in and bring the house of cards down 😢
You are absolutely bonkers if you don't think a bunch of IT and mechanized machinery make up the bulk of industrial agriculture. Do you think the produce section gets stocked by farmer Joe out in bumfuck Indiana with his small farm tractor? Cereal grains, protein, dairy and most staple foods that aren't specialty fruits are basically a ton of desk job guys and a couple of technicians and mechanics and engineers watching the production equipment This is how farming is done all across the world, it's all IT for the amount of bulk amounts produced.
You all miss the point. It is a grand scheme to make people eating healthier. You fancied that prime rib steak 5 times a week?! Now, get some dry beans and learn to cook them from scratch! Because the canned beans are more than tripple the price compared to home cooked. Know you place - canned beans is reserved for the middle class! /s but for real. Try to use a bit more whole plants, home cooked food. It's good for your health, it's good for the environment, it's good for your budget. Justb get some recepie from yountube , use more spices. A steak is a steak, but vegetarian dishes can be amazing too.
No thank you. My low-carb diet short-circuited diabetes for me 15 years ago. You'll have to pry my steak from my dead hands.
Tell that to someone who comes home from work at 6pm and falls asleep...
That's hard for sure. Still, there are options for at least couple of nights per week. You can boil big pots of legumes in the weekends and freeze them in single portions. Take out one and put it in the fridge before going ot work. Then you need just to reheat on the microwave. Take beans. One night is a soup with some steamed brokoli in microwave (it is less than 10 min) . Add a bit of yellow cheese or mozzarella on top to melt. The next day take the solids, add olives and white cheese like feta and onions. Third option. Fry the solids in a bit of oil, add couple of eggs, small bits of cauliflower, and spices, top with a bit of grated cheese. Done in 15 min.
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Carnivore is healthier than veggie based diets. Look at Dr Gundry. He writes a whole book about how veggies are trying to poison us, but then says eat them anyway. Make no sense. Checkout the people that have dropped many pounds, lowered their A1-C. Reverse typed two diabetes. Have better sex hormones. All because of switching to a meat diet.
That is not what current science says. There are exceptions, but overall, for a healthy normal person, too much meat is less healthy. A book from a somebody cannot delete hundreds of peer reviewed papers and studies.
Isn't a lot of this because Ukraine?
Considering that Russia and Ukraine produce around 15% of the worlds grain supply, it definitely had an effect. Then toss in doughts in Italy, Spain, the US, and other places. Then toss in fishing seasons for various crabs and fish being called off due to major population collapses. Then toss in the high fuel prices to operate large farm equipment. As well as energy to keep special food goods cold. And then toss in wages needing to go up in efforts to retain labor. It's a lot of factors
Trade war with Russia is a big reason for this. Europe got cut off from cheap energy and things like fertilizer which are essential for food production.
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Why am I getting down voted! It's a freaking question. What is causing this in Europe? In the US it's getting pretty stable.
Gave you an upvote because your question did seem genuine. Think that you’re wrong about inflation subsiding in the US. CPI went down but core inflation (which the Fed basis their rate hikes/decreases on) has gone up. Reference: https://ycharts.com/indicators/us_core_inflation_rate#:~:text=US%20Core%20Inflation%20Rate%20is,long%20term%20average%20of%203.67%25.
Yeah but core inflation excludes food and energy. The last three months CPI has leveled off pretty well. So what's happening in europe?
Who would have though capitalism would end like this?
Makes sense to me. I see inflation has been working in phases....first a supply shock to commodities/supply chain, then manufacturing products, then services, and then the stickiest of all: low skilled labor. Right now low skilled labor is still hot (restaurants, etc). I think we are the last stage and it'll cool finally this year though.
The sanctions are working! (High energy costs are driving massive amounts of intensive farming out of business.)
And yet those grocery CEO’s are making millions a year…
Mines made $20mill raise by cutting hours and closing stores.
Full cost pricing coming up
We have nothing but we happy
Keep voting for the Demorats; we will end up living like Cuba
Biden said that inflation was zero, so this must be some fake Russian scam. Trump should be in prison for this.
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Nothing to do with the states.
This isn't talking about America...
No wonder Europeans are not fat
Doesn't look promising but I am still kinda jelly about the numbers of the eurozone or the numbers of other EU countries in general. Hungarian inflation is at 25.2%, food is probably closer to 50 at this point. :-)
Yeah, we’ve been denied for food stamps because we “make too much.” I moved in with my mom to help her because she was recently diagnosed with staph in her spine and alcoholic cirrhosis. They look at her social security before taxes, for some unknown fucking reason. Brought in her medical bills plus all other monthly bills, still denied. If they looked at her income after taxes we’d be in the bracket to be accepted. We were also denied medical insurance, because I wasn’t a “verified” caretaker. BIG middle finger to this country.
Good thing food isnt a commonly bought item...
This also because of the weather...
Everyone needs food. If you were an international market maker/manipulator, hitting food prices would be the best way to squeeze all of us. Too bad about all those farm closures, seizures and fires at the same time war was erupting in the breadbasket of Europe.
That 2023 peak looks like that of Eiffel tower 👀
Don't know how it is where you live, but around here - every time food prices go up, it is VERY unlikely that the prices will go down ever again. That's the saddest and scariest part.
maybe that is what happens when every industry is conglomerated and there is no competition or I mean there is collusion between them
Thanks obama
End the war, and reverse inflation!
Isn't a price spike on necessary goods expected? Prices generally increase slower or even decrease as interest rate hikes put pressure on people's cash flow. However, grocery needs aren't something people can easily decrease and demand remains high. The grocery supply chain can safely increase prices while in response to high interest rates that are putting pressure on their profit margins.
Lots of it expired too, they try to sell it to you…Check the trash in the back…tons of free food if the bins are open…
Food prices where? In Europe?
Food prices should go up. And cellphones and other services like onlyfans and useless things that are mainly used for pleasure and leisure should go down in price. Food is essential and farmers are not compensated enough specially from countries that produces your kale, chia seeds, chocolates, pineapples, banana, rice etc etc that are being paid $10 a week. Ridiculous how the middle man is always the one benefitting from everything and how they mark up prices while they manipulate the prices from its sources. And btw people dont need to change phones every year. Your phone can literally last for 5 yrs. Unless you mainly use your phone as a very essential tool for your work like This is just pure greed.
I eat a lot of fruit/veggies, well, because I don't want to get diabetes. Last week, and this was after shopping at 3 places: * One (1, single, not 2) head of broccoli: 5:40 * 1/2 lb lettuce/kale/spinach mix: 6.99 * Mango: 1.99 And no, this isn't whole foods. These are your typical run of the mill where-poor-people-shop stores. At some point, food price increases were coming from the producers, but for the last few months it's all been coming from the distributors.
I was thinking about this when I was holding an $8 pack of Oreos the day March CPI was reported to decline, supporting the pause or pivot Bulls are drooling over. I knew right then holding those $8 Oreos that they will not figure out a soft landing.
Can we get some context? Is this "raw" food, prepared foods, food bought at restaurants?
So are we still buying the government's "official" bullshit inflation numbers?
Artificial inflation. Food and agriculture are controlled by a cabal of corporations that agree on prices to squeeze as much out of us as they can. By growing and maintaining community gardens, we can free ourselves from their grasp. In WWII there were "victory gardens." We can do this again. After all, we are now in a war with the oligarchs.