FOOD No such thing called inflation especially if you do not measure it or count it!

 

Massive Food inflation is just the tip of the proverbial inflation iceberg...

food price indexes over the past 12-18 months have been increasing at a healthy 4.2% clip, but our lying government and FED heads have still been reported 12-month rolling “official” inflation rates in the US at a comical and simple and anemic 1.4%. To refresh your memories, this is what happened with soaring food prices in 2010. In 2010 I remember fondly that corn, the staple food of many soared in price, and the US Department of Agriculture, revised their strange forecast for the US corn crop yield downwards by 12.6 million tones, or 3.9%, to 321.7 million tones.

Fast forward to 2021 and food prices are starting to soar again. Within the past year, my followers know that I advocated the purchase of the corn, coffee, and soybean (there are several ETFs like SOYB back in August of 2020 when soybeans were still selling at about $8.50 a bushel (SOYB was trading around $14.00, and it ran so far to $21.00+) soaring more than 50% in price. Today, the price of food staples around the world, like rice, are nowhere near the disastrous price peaks of over $900 per metric ton experienced back in 2008. However, the price of rice around the world has still been steadily climbing since a low of about $350 per metric ton in September of 2015. Since then, rice prices have climbed to about $500 per metric ton in many Asian nations to start this year, representing a whopping 43% increase in price over the past five years (not inflationary as who needs to eat). This is happening while the “BS” narrative of the cheerleading (paid shills) media has been touting that food prices have been dropping since April of 2020, which is semi-true for some food staples, the fact is that over the past five years, most food prices are still trending strongly higher.

For example, over the past five years, in the US, beef prices have increased by 19.8%, pork by 29.7% and Atlantic salmon by a whopping 36%.

However, even as food prices have soar, governments and global central bankers continue to comically report anemic non-existent rates of inflation. Apparently, their reported inflation data applies only to people that apparently have no need to eat.

As I have discussed numerous times, and most recently in my last weekend report if you believe the crap, data, and statistics or everything the government is telling you about economic data, then most likely you will also fall victim to Ponzi schemes and scams!