The government is telling us that year over year inflation was 7.7% for October 2022. That is something that Biden is celebrating. Meanwhile, a dozen eggs in my neck of the woods costs $4.49, stew meat is $6.99 a pound, and ground chuck is selling at $7.99. The same week last year, eggs were $2.99, stew meat was $3.99, and ground chuck was $4.99. That is an increase of 50%, 75.1%, and 60.1%, respectively. Perhaps that is why they don’t include food when they are calculating the rate of inflation.
You will note that I didn’t include the cost of gasoline. The reason is that the oil market is being deliberately manipulated by the sale of oil from the SPR.
People are being fooled into thinking that increased prices=inflation. That isn’t the case. Inflation is caused by a currency losing value. This is reflected in higher prices, but the higher prices themselves are not inflation, they are merely a symptom of it. I expect that, now that the election is over, fuel prices will return to their true price. Still, many Americans are stupid enough not to know the difference and to continue voting for the same old people.
12 Comments
Bigus Macus · November 11, 2022 at 8:51 am
Figures lie and Liars figure. you can’t trust any government published report.
exile1981 · November 11, 2022 at 8:56 am
I wastalking to the wife about egg prices yesterday. The 30 count large egg flats are now $14.65 at the store and the 18 count cartons are $7.50 for extra large.
Exile1981
mike · November 11, 2022 at 1:24 pm
Eggs sold on the side of the road around here by people with their own chickens are about $5 a dozen, and there is a lot of this going on.
mike · November 11, 2022 at 9:06 am
They are that stupid, and they will soon be sitting in abject poverty without much more property then they can push around in a stolen shopping cart. It will all be someone else’s fault of course.
Steve · November 11, 2022 at 11:31 am
Inflation is a tough to grasp because the word stands for multiple concepts. Anyone who has lived in an area prone to natural disasters is familiar with the idea that prices reflect not just demand spikes, but also supply shocks. The Covid overreaction was always going to give us this, not just because the morons ordered the supply shut down, but they also pushed demand up by idiotically flooding money into the bottom end.
And now the dolts are trying to address inflation the same way that “worked” in the past, when the causes for the current inflation have nothing at all to do with the causes for inflation historically, i.e., they usually flood money into the big banks and the investor class.
This time, the only way to stop inflation that I can think of is an actual lower-class tax INCREASE to sop up all the excess cash they sloshed around. I don’t have enough popcorn.
mike · November 11, 2022 at 1:21 pm
I’m not an economist, so you may know more about it then me, but the lower class in this country is notorious for spending it immediately, and usually on non-durables. That sloshing money is no longer in their possession, it is part of the profit margin for the rich people catering to poor people’s spending habits. A tax on the poor now is close to trying to tax the homeless.
Steve · November 11, 2022 at 5:48 pm
Exactly. That’s why we saw the rate of increase in consumer goods. They spent it all. The damage in terms of price inflation has already happened. The question is where you go from here.
If you do nothing, prices will slowly move towards equilibrium. Problem is that Food Stamps got this massive increase. That money is still sloshing around.
To the extent this demographic spent all the Bonus Bux, that’s sunk costs. Not recoverable. The only question is how long they keep this up. If the $1300/month raise the welfare crowd in Chicago got continues, (how many private sector workers got a $15k per year, $7.50/hour raise?) they will continue to bid up prices for consumer goods.
Not that I’m taking a moral position. I’m just saying you can do the retard thing and get continued inflation as a result, or you can address the problem and (hopefully) slowly deflate.
BobF · November 11, 2022 at 11:44 am
Stupid? Oh hell, some MUST be. Unless only intelligent and rational people elect a dead man one place and one who can’t string enough sentences together to make a paragraph elsewhere.
Aesop · November 11, 2022 at 4:15 pm
Inflation has been occurring since 1934. It’s currently at something around 8700+%, in constant dollars, since that point, when gold was at $20.67/oz.
Cost increases, which is what are under discussion, is merely the market continually but belatedly reflecting that reality, because people don’t understand the difference between actual money, and fiatbux currency.
But eventually, the Invisible Hand of the marketplace thwaps folks on the back of the head with a 2×4, and gets their attention.
Baron von Cut-n-Paste · November 11, 2022 at 4:37 pm
Immediately after the election, I started seeing attack adds going after ‘greedy oil companies’ for price gouging. Gas price is gonna surge, I’d bet the money I won’t be able to afford after filling my tank.
Differ · November 12, 2022 at 7:18 am
Gas here jumped 13 cents/gal the day after the election following a 2 months long decline of 2-3 cents/gal weekly…..hmmm.
Hightecrebel · November 12, 2022 at 12:32 pm
I just moved three pounds of 93% lean ground beef out my chest freezer into my kitchen freezer, and it was $3.99 a pound a year ago, the two pounds I moved into the fridge were six months older and $3.39 a pound. I need to get a deer this year just for the meat…
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