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Bernanke Stole My Milk Money

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May 14, 2008 – Comments (3)

Thanks a ton, Benny and the Inkjets.

Of course, none of this matters much to well-off, ivory-tower bank-bailer-outers like Ben and his gaggle of nodding bobbleheads. They look at fake inflation numbers that make them feel better about insane interest-rate cuts and "liquidity" they've been throwing out in order to try and re-inflate an economic bubble that they should have popped long ago.

The food and beverages index rose 0.9 percent in April.  The index
for food at home increased 1.5 percent, following a 0.2 percent rise in
March.  Each of the six major grocery store food groups contributed to the
larger advance in April.  The index for fruits and vegetables, which rose
0.1 percent in March, increased 2.0 percent in April.  The indexes for
fresh fruits and for processed fruits and vegetables increased 3.2 and 3.4
percent, respectively, while the index for fresh vegetables declined 0.2
percent.  The index for cereal and bakery products, which increased 1.3
percent in March, rose 1.4 percent in April. 
Prices for bread increased
1.5 percent and were 14.1 percent higher than a year earlier
.  The index
for meats, poultry, fish, and eggs, which was virtually unchanged in
March, advanced 0.9 percent in April.  A 1.1 percent decline in beef
prices was more than offset by increases in the indexes for pork, for fish
and seafood, and for poultry--up 3.4, 2.6, and 0.7 percent, respectively.
The index for dairy products turned up in April, increasing 1.2 percent.
Milk prices rose 0.9 percent and were 13.5 percent higher than in April
2007.
  The index for nonalcoholic beverages increased 1.7 percent,
reflecting
large price increases for coffee and for carbonated drinks--up
4.0 and 2.2 percent, respectively.
   The index for other food at home rose
1.9 percent in April, reflecting large increases in most categories. 
In
particular, the indexes for butter and for margarine increased 7.8 and 6.5
percent, respectively.
  The other two components of the food and beverages
index--food away from home and alcoholic beverages--increased 0.3 and 0.6
percent, respectively.

3 Comments – Post Your Own

#1) On May 14, 2008 at 9:15 AM, TMFBent (99.80) wrote:

Oh, and don't miss this smarmy, highlighted rationalization of spiking fuel prices:

___________________________________________________________________________
Gasoline prices rose 5.6 percent in April.  Compared to a year ago, these
prices were up 20.9 percent.  Gasoline prices increase seasonally during
the first five months of the year, with the largest increases occurring in
March and April and decline seasonally for the remainder of the year.
___________________________________________________________________________

 

Those lines to set off the excuse aren't added by me; they're in the press release. In other words, "Hey, newsroom drones! Pay no attention to the man behind that curtain. Sure, his toes are pointing skyward and that seems like a lot of blood. But we assure you, his recumbent position and fly-specked, glassy eyes are the result of an unrelated bout of healthful narcolepsy."

Here's some more awful news for people who live in the real world, not the fantasyland inhabited by Bennie and the Inkjets.

The index for fuel oil rose 4.4 percent and was
52.6 percent higher than in April 2007
.  The indexes for natural gas and
for electricity rose 4.8 and 1.5 percent, respectively.  During the last
12 months charges for natural gas and for electricity increased 10.9 and
5.0 percent, respectively.
  

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#2) On May 14, 2008 at 1:43 PM, TDRH (99.44) wrote:

Yeh, but none of these factors are part of the government's CPI-so everything is still okdokey.  

http://www.shadowstats.com/

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#3) On May 14, 2008 at 5:58 PM, TMFBent (99.80) wrote:

Whew. I was beginning to worry about those poor sods next door having to cope with a reduced standard of living. I'll dash over and inform them that those price increases don't really count. They oughta feel much better!

:)

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