CBS Evening News with Scott Pelley reported:
While the government says prices are up 6.4 percent since 2011, chicken is up 18.4 percent, ground beef is up 16.8 percent and bacon has skyrocketed up 22.8 percent, making it a holiday when it's on sale.
ConvergEx market strategist, Nick Colas, said that mothers could tell the government a lot about inflation[...]
"Food inflation is far greater than the government thinks it is," he said.
But the big problem for families: Wages are not budging.
"If my income isn't going up, how am I going to keep up with inflation?" [mother Jen] Singer asked[...]
Many are concerned that while economists paint a benign picture, middle-class families are quietly struggling.
"The disconnect is severe, because it's the economists that make policy but it's the people who have to live with the outcome of that policy and that disconnect is growing to the point where I think it has to break soon," Colas said.Note well: The reporter for this story was Michelle Miller. Let's see what other stories she develops.
Not to worry, our helpful government tells us that when beef and chicken go up, we will switch to less expensive substitutes.
ReplyDelete[Cardboard comes to mind... (Dickheads!) ]
Hey, cat and dog food is still cheap!
DeleteThey don't even need to do that. Wages are already part of the inflation calculation. Lower wages means inflation is automatically lower, which means we need more monetary inflation, which means prices of goods will go up more.
DeleteNow you understand how statist economics works.
Something big is coming.....
ReplyDeleteKrugman says we have no inflation and need our govt to create more though
ReplyDeleteThe Fed should hike interest rates now because a housewife complained about how much she is spending on food.
DeleteYou mean like when those foolish housewives in Argentina claimed inflation? Luckily, the government policies that krugman described as an economic miracle have continued and those stupid women were proven wrong. What do those women think they know compared to alpha males like krugman and ygelsias?
DeleteJW: Troll.
DeleteThe liberal world view is built on a foundation of contempt for ordinary people, as evidenced by this comment from JW.
Delete