PDA

View Full Version : What the F*(% is up with the price of food?



Pages : [1] 2 3

Matt Phillips
6/03/2011 9:45am,
Had the bright idea of restricting the grocery shopping to a single hand held basket so as to keep the weight down for the walk home. Grand total: $83.11(!) For one basket of groceries :O

Bear in mind I'm going out of my way to hit the super market across the street from the PJ's to get the lower prices.

Is this just me or do the rest of you see a huge spike?

Next time I shop I will make a point of wearing this

http://www.animepagoda.com/images/uploads/watchmen_cap_634482110683a.jpg

maofas
6/03/2011 10:15am,
It's been like this for a long time I think. Rising gas prices are a big contributor since things get transported on trucks. It also probably factors heavily into the production/refrigeration costs, since I know my power bills are a lot more in recent years...

...but yeah, the recession is over say the economists who denied we were in one for years

Permalost
6/03/2011 10:28am,
I'm guessing its directly tied to the price of oil.

Cullion
6/03/2011 10:34am,
The Federal reserve has roughly doubled the monetary base since 2007. The supply of food did not double with it. That new money was not shared out equally across the US population, so your wages did not keep up with the price change. If QE3 happens, you will feel even poorer in a year or two.

WhiteShark
6/03/2011 10:38am,
YAY Ethanol Subsidies! Oil = Fertilizer and Corn = Livestock Food. Both are getting fucked right now because of misguided attempts and improving things. More corn for ethanol is less corn for livestock feed = more expensive livestock feed = more expensive food.

judoka_uk
6/03/2011 10:39am,
Oil prices drive up production and transportation costs. Bad weather last year caused a grain export ban in both Ukraine and Russia, major exporters of grain.

Wheat planting in the US and Canada is running behind schedule due to rain and Northern Europe is suffering from drought. So supply contraction.

Russia and Ukraine recently lifted export bans, but many market analysts suspect that Russia wont be able to match supply to global demand.

That's my summary of what I've been reading in the papers over the last week or two.

Cullion
6/03/2011 10:41am,
YAY Ethanol Subsidies! Oil = Fertilizer and Corn = Livestock Food. Both are getting fucked right now because of misguided attempts and improving things. More corn for ethanol is less corn for livestock feed = more expensive livestock feed = more expensive food.

Ethanol subsidies are a bad idea, but that's not the primary cause. The prices of foodstuffs that aren't fed on or made out of corn are going up faster than median incomes too.

Tom .C
6/03/2011 10:42am,
Floods, droughts, oil price, and now some new strain of MRSA that is infecting cattle, all hit us right in the wallet. Soon the obesity problem will be cured in the middle and lower class population and the Ramen noodle commodity traders will get filthy rich.

Lindz
6/03/2011 10:42am,
If QE3 happens, you will feel even poorer in a year or two.

Queen Elizabeth the third? Wasn't aware of any current princesses called Liz.

Anyway, global warming. China's rising affluence means they want to eat more meat leaving less meat and grain for everyone else, driving the price up.

WhiteShark
6/03/2011 10:45am,
Double check on what has corn involved with it. Hint: almost everything.

http://www.indexmundi.com/commodities/?commodity=corn&months=60

Cullion
6/03/2011 10:48am,
Queen Elizabeth the third? Wasn't aware of any current princesses called Liz.

The third round of 'Quantitative Easing'.

WhiteShark
6/03/2011 10:53am,
AKA lets print more money because all our systems are based on inflation. What a bag of fail. Ask a government official why they won't let the currency deflate a little.

Cullion
6/03/2011 10:54am,
Double check on what has corn involved with it. Hint: almost everything.

http://www.indexmundi.com/commodities/?commodity=corn&months=60

Bananas aren't made out of corn
http://www.indexmundi.com/commodities/?commodity=bananas&months=60

Crude oil isn't made out of corn
http://www.indexmundi.com/commodities/?commodity=crude-oil&months=60

Australian Coal isn't made out of corn
http://www.indexmundi.com/commodities/?commodity=coal-australian&months=60

Cocoa beans aren't made out of corn
http://www.indexmundi.com/commodities/?commodity=cocoa-beans&months=60

Rice doesn't have corn in it.
http://www.indexmundi.com/commodities/?commodity=rice&months=60

See that spike at the end?
http://www.drorism.com/blog/Monetary%20Base%20.png

That's why things are getting expensive.

WhiteShark
6/03/2011 10:58am,
Oh I agree about Oil/Energy prices. Didn't mean to imply that it is ONLY corn. The price of corn clearly isn't helping.

WhiteShark
6/03/2011 10:59am,
Also, you're in the UK what the hell do you know about corn?

Cullion
6/03/2011 11:02am,
Also, you're in the UK what the hell do you know about corn?

The British invented corn.