The rising cost of food has become a main topic at my morning coffee gatherings

Discussion in 'Current Events' started by nopartisanbull, May 17, 2022.

  1. nopartisanbull

    nopartisanbull Well-Known Member

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    The rising cost of food has become a main topic at my morning coffee gatherings.

    This morning, I show my coffee buddies a current food inflation data;

    Trading Economics
    United States Food Inflation

    “Food inflation in the U.S. accelerated for an 11th straight month to 9.4% in April of 2022, the highest reading since April of 1981”

    Note; Many grocery items were discussed, and all agreed that said 9.4% increase is unrealistic.

    General consensus; By at least 20%!!!!!!

    Final note; Since last May, the cost of our Starbucks’ coffee also increased by at least 20%

    —————
     
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  2. 9royhobbs

    9royhobbs Well-Known Member

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    Yeah, everyone knows prices are up. Everyone also knows that the way to fix a problem is knowing what is causing it so tell me......what specifically is the cause.
     
  3. Chrizton

    Chrizton Well-Known Member

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    If you can afford to gather at Starbucks in the morning, you can afford to pay a little more for hamburger
     
  4. Phyxius

    Phyxius Well-Known Member

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    It's a mystery... 1584414801.3623-smiley.gif

    248291-29919.png
     
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  5. nopartisanbull

    nopartisanbull Well-Known Member

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    The known cause(s)

    1. Excess cash/consumption boom
    2. Corporate Profiteering
    3. Ukraine
     
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  6. 9royhobbs

    9royhobbs Well-Known Member

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    That is correct. So why is the right not aware of this?
     
  7. ShadowX

    ShadowX Well-Known Member

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    Depends on what you’re asking.

    What caused it? Gross malfeasance by the federal reserve in overprinting of currency as well as those in congress and the presidency who were complicit in those actions by passing and not vetoing stimulus bills.

    What’s the cause right now? The genie is out of the bottle with the money printing. We cannot “unprint” the money. So we have to suffer with inflation.

    The problem we have now is that the fed is again acting with malfeasance by not increasing the interest rates drastically. If we gauge inflation by the same terms we gushed inflation in the 1970’s it would be above 18%.

    Which means in order to combat that inflation, interest rates MUST increase to above 18%. Which we are not doing, we are doing too slow and we have no intention of doing because the federal reserve has become a joke ran by people who have no idea how basic economics functions.
     
  8. Darthcervantes

    Darthcervantes Well-Known Member Past Donor

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    I just paid 12 bucks for a pork roll egg and cheese sandwich with NO sides
    Those people pretending the inflation isn’t real are in serious denile
     
  9. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    If I showed them the data from last nights playoff games, then that would be the topic. And sure enough that was what we talked about. That's the way it works.
     
  10. ButterBalls

    ButterBalls Well-Known Member

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    Start with diesel prices! The leftist anti-matter transporters have not been invented yet in the real world!!
     
  11. nopartisanbull

    nopartisanbull Well-Known Member

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    Common saying; “We should increase production, and that would lower the prices at the pump”

    Yes and No......Today’s problem is our refineries can’t supply the demand.
     
  12. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    Most of our food is transported by big rigs that run on diesel. The price of diesel is almost $6/gallon now, so it's costing a lot more to ship it to the stores. That is definitely driving up the cost of goods. Good to know Biden just cancelled some big drilling leases in Alaska and the GOM. Wouldn't want to do anything to actually help things.
     
    Last edited: May 18, 2022
  13. balancing act

    balancing act Well-Known Member

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    I noticed the rise in food prices in early 2020. The Covid 19 shutdowns and related problems are the main cause.
    I think that the people who make the decisions in these big corporations also recognized an opportunity to raise prices and make more money, and it bears out when corporate profits and ceo pay levels are examined. Both saw huge increases during 2020-21.
     
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  14. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    Canceled because no one was interested in buying them, Same thing last year. Like it or not, but we are at the mercy of the producers and they are unwilling to invest in new development because they did it in 2019 and 2020 and lost tons of money because of it. Besides, they are raking in massive profits with prices being this high and they love it.
     
  15. balancing act

    balancing act Well-Known Member

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    Welcome to corporate America! A capitalist society isn't fair to all. Money is the driver of most things, and if they can charge double and people still spend the money, that's on the spenders.
    What gets me is the supposed "free market" people that are complaining that prices are rising, and also putting down the "socialists".
    One can't have it both ways.
    Our government is always attempting to balance the two, socialist concepts and free market freedoms. It's why we are a great nation, but not without bumps in the road. It's good to have functional shock absorbers, like savings or other safety net items.
     
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  16. Pro_Line_FL

    Pro_Line_FL Well-Known Member Past Donor

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    It works most of the time, but at times like these they have us by the sack. They ARE increasing production, but not enough. The problem is the fact that even if they went all-in with new leases, it would take over a year until they produce and by then the price is probably down again and they'd take a beating again. They do have a valid reason. Should there be a national oil company for times like these? Maybe, but that actually WOULD be socialism (socialism = government owned and operated means of production).
     
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  17. ToddWB

    ToddWB Well-Known Member Past Donor

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    I am fortunate.. frijoles and tortillas, todavia, son baratos. I think they are subsidized by the Federal govt.. of Mexico.. so no one need starve.
     
  18. ButterBalls

    ButterBalls Well-Known Member

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    Well what happens in a capitalistic economy when a product is over produced and the market is glutted? But your question, we have been cutting our own throats for quite awhile now. this is the sort of thing that happens when we AS A NATION put out wellbeing in the hands of other countries that only car for the DOLLARS we provide them.. Some things should always be "ENERGY" plentiful domestically, bottom line!

    You would think we would have learned during the Carter administration about OPEC and shortages, lines at the pump and high cost of foreign oil..

     
  19. nopartisanbull

    nopartisanbull Well-Known Member

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    Check their Financial/Profit and Loss statements compared to a previous year.......

    Cost of Good Sold Per Unit hasn’t increased at the same rate as retail price.

    Results; Record High Net Revenue, and Record Tax revenue for Uncle Sam.

    And then BOZO the Clown created the following thread; “Record high Corporare Tax Revenue......The Tax cuts are working”
     
    Last edited: May 18, 2022
  20. nopartisanbull

    nopartisanbull Well-Known Member

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    If you believe we aren’t drilling, I suggest you google “U.S. Rig Count”, and see for yourself.

    Once again, the main reasons why the price of diesel is almost $6/gallon;

    a. There’s still a high demand, and

    b. insufficient oil refinery capacity.
     
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  21. ToddWB

    ToddWB Well-Known Member Past Donor

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    Just odd the price jumped when ol Joe cancelled Keystone.. just a coincidence?
     
  22. Phyxius

    Phyxius Well-Known Member

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    Is it a coincidence that Don the Con cut funding for Project Predict, which monitored potential Ebola and coronavirus outbreaks worldwide, three months before Covid struck? 1584414801.3623-smiley.gif
     
  23. Louisiana75

    Louisiana75 Well-Known Member Past Donor

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    We are an oil refinery and pipeline working family, I know all about drilling. I never once said we aren't drilling.
     
    Last edited: May 18, 2022
  24. mdrobster

    mdrobster Well-Known Member

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    I'm pretty sure the gasoline companies are not complaining and have no interest in building another refinery just to lower their profits.
     
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  25. 9royhobbs

    9royhobbs Well-Known Member

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    Do you have anything besides your opinion to back up your claim
    Again, what do you have to back up your claim.
    Yeah....right.
     
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