Stagflation setting in…..

I warned about this happening over the last few months here and here  and here and here  and here and here and here and here and here

Higher oil prices brought about by high demand, limited supply, and a crash of the dollar have combined with severe climate disruptions to impact the price of food.  You know, the second most basic thing humans need for life (after water).  This is what happens when food becomes nothing but a commodity for people to try and get rich on.

At the same time,wages are stagnant at best for most.  So now, we earn the same or less, but gas prices are high and food is getting really expensive.  We can choose to drive less, but what I fear happening is that ever more people will eat ever more cheap “food” – you know the shit that kills us.

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Food prices reach new high in Kentucky

By Janet Patton — jpatton1@herald-leader.com

Kentucky’s retail food prices rise 2.2%, reach a new high

Average retail food prices were up 2.2 percent, or $2.50, across the state in the past three months, according to the Kentucky Farm Bureau’s quarterly Marketbasket Survey. At $117.44 for 40 basic grocery items, the cost set a new high for the 40-year-old survey.

The second quarter’s total is $8.96, or 8.3 percent, more than the same period in 2010, and $15.18, or 14.8 percent, more than 2009.

Pork had the biggest jump — an average of 7.5 percent, with bacon up 62 cents a pound in June. The biggest decrease was for tomatoes, which were down 67 cents a pound.

Retail food prices nationally are up 3.5 percent during the past 12 months, according to the Consumer Price Index, in part because of higher energy costs and gasoline prices.

Folks, there’s only one thing that will bring prices down:  recession.  So wait for it…..we’ll be back in an official recession within6 months.

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