Oh yeah, that.
The Detroit Free Press: Food prices soar to highest one-month increase since 1974
Well, when you shut down all stores but those deemed essential, basically leaving groceries as the only thing to spend money on. Then combine it with the shutting down of processing plants and the collapse of the food supply chain when you shut down certain elements you managed to forget were essential, and add real problems at processing plants, and you get this.
Grocery store bills shot up April, showing the biggest monthly increase in nearly 50 years, according to the U.S. Bureau of Labor Statistic's monthly Consumer Price Index report.While overall the April CPI declined 0.8%, consumers on average paid 2.6% more for groceries. It's the largest one-month increase since February 1974. During the last 12 months, grocery prices rose 4.1%.
Price increases in the meat, poultry, fish and egg category were the steepest.
2 comments:
Ding! What is "inflation", Alec?
I remember learning about supply and demand in 7th grade. We actually spent quite a bit of time on it, as it sticks in my mind pretty well. And we should spend a lot of time on it, because it is that important for everyone.
Even for those of us who are going to end up spending over 35 years in a steel making foundry, the principle of supply and demand is important, in both the factory and in our own personal lives. And a solid understanding of the subject helps us to understand both how and why prices and wages are affected the way they are.
Also, why the 15$ per hour minimum wage is nothing but a talking point for the socialistic left wing politicians, and will do nothing to help raise people out of poverty. And why the idea of raising taxes on corporations is pretty stupid. Because corporations realistically do not pay taxes. The people who buy their goods and services are the ones who pay their taxes.
For example, if we were to raise taxes on Ford Motor Company, to 50% of gross per unit, and the average price of a new car was 10,000$, then Ford would now sell their new cars for 15,000$. And that extra 5,000$ would be paid by the consumer.
Corporations are in business for one reason and one reason only. Not to make cars for charity, but to make money, for the people who own the corporation, usually those who own stock in the corporation. And if the CEO and CFO and all the others in charge of making money for the corporation fail at their jobs, they will quickly be gone, and another person will be there.
I have tried to explain to my friends and family, how in many cases the CEO of a corporation is actually worth the 20 million $ salary he or she is paid per year. Say a company, we will use Ford, is losing 5 billion dollars a year. They bring in a new CEO, with experience in turning around failing companies, who within 2 years, has Ford making a profit of 5 billion dollars a year. A 10 billion dollar turn around. Does this CEO not deserve a huge salary, for saving a failing company, and keeping all the people under him working? Keeping all of those workers at the supply chain companies working? Yet all we hear is the Union people complaining about how it just is not right for any one to make that much money.
In the case of some CEO's, they would be right, they are not worth their salary. But salaries are negotiated before the person starts to work at the company, and it is not known if the CEO will be successful or not. The board must pay enough to encourage the best candidates to apply, and to accept the position, while at the same time,they will wish to find the person who they think will be a good fit for what they wish them to accomplish with the next 1, 5, 10 years. That is why at times you see a CEO leaving after only a year or even less, with a so called golden parachute.
I am sorry I got off on a tangent, but I just got to thinking about some of my relatives, and how they don't seem to understand just how our financial system works, how really ALL financial systems work, and why paying someone 15$ an hour won't solve anything. Pay someone that much and the person making 15$ an hour, for doing a hot, dangerous, and draining job, is going to want 25$ an hour, and on up the scale, while the cost of a loaf of bread is going to be 10$ a loaf.
Wishing you all the best, with this fantastic weather we are expecting here in Michigan.
pigpen51
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