From SF Gate:
For the first time since 2008, inflation is hitting consumers in the stomach.
Grocery prices grew by more than 1 1/2 times the overall rate of inflation this year, outpaced only by costs of transportation and medical care, according to numbers released Wednesday by the U.S. Bureau of Labor Statistics…
And, meanwhile, vast swaths of US agricultural land lie fallow – because our tax and regulatory system makes it unprofitable to farm. And, remember, farming isn’t just growing food – it also entails vast amounts of manufacturing to support the growing and transportation of the food. We’re killing our economy at the base – and now we’re starting to pay higher prices for the food (yes, I realize that part of this jump is the Fed printing money like mad – but as food prices have risen, there has been little or no discernible increase in the amount of land being farmed…in other words, even higher prices for the stuff isn’t encouraging expansion of the industry…so badly screwed up are our economic policies).
I know I keep harping on this – I know its got to be getting boring by now; I’m sure I’m starting to sound like a crank over it. But until we start making, mining and growing more of our own stuff, we’ll never get out of this. We can expect increasing scarcity and higher prices until we unleash our economy by removing the tax and regulatory penalties on wealth creation. We really have to tell the banksters, bureaucrats and, especially, the environmentalists to get stuffed. We’ve got more important things to worry about than “too big to fail” banks, government pensions and fricking guppies in a California river.
We can get serious, or we can continue to collapse. The choice is ours.
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