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Old 11-08-2019, 01:23 PM
 
8,985 posts, read 9,637,031 times
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Quote:
Originally Posted by lieqiang View Post
You're again proving how silly it is to be lecturing others about how they reach their conclusions on macroeconomic trends.
Right. It's tough to take the other guy seriously about anything but especially this stuff. He's seen 10%-30% food inflation over the last year. While the people who actually track this stuff for a living measured out 1.8% over the last year.
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Old 11-08-2019, 05:13 PM
 
8,746 posts, read 5,450,501 times
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Quote:
Originally Posted by EDS_ View Post
Right. It's tough to take the other guy seriously about anything but especially this stuff. He's seen 10%-30% food inflation over the last year. While the people who actually track this stuff for a living measured out 1.8% over the last year.
Well, that's because our immediate and subjective experience is our window into reality; nay, it is reality itself. But statistics, or aggregation of massive data from faceless and opaque sources, is ethereal and un-real.

By similar reasoning, snow seems to visit our town earlier and earlier every autumn. Therefore, global warming is a hoax. I hear more Spanish in our local retail-establishments. Clearly, we're overwhelmed with Latino illegals. Two of my friends, in rapid succession, reported getting mugged downtown. Crime is rising, and statistical evidence to the contrary is fraudulent. A buddy's son can't get a decent job, while another fellow recently lost his. The official unemployment-reports are a manipulation and a lie. And so forth.
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Old 11-08-2019, 05:46 PM
 
8,985 posts, read 9,637,031 times
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Quote:
Originally Posted by ohio_peasant View Post
Well, that's because our immediate and subjective experience is our window into reality; nay, it is reality itself. But statistics, or aggregation of massive data from faceless and opaque sources, is ethereal and un-real.

By similar reasoning, snow seems to visit our town earlier and earlier every autumn. Therefore, global warming is a hoax. I hear more Spanish in our local retail-establishments. Clearly, we're overwhelmed with Latino illegals. Two of my friends, in rapid succession, reported getting mugged downtown. Crime is rising, and statistical evidence to the contrary is fraudulent. A buddy's son can't get a decent job, while another fellow recently lost his. The official unemployment-reports are a manipulation and a lie. And so forth.
That's the best post I've ever read on this forum.


While a fledgling econ. undergrad at Rice......the best advice of my career came from a grad. student running a study session................in a very strong voice he said,"NEVER ALLOW feelings to interfere with what you know." It took me years to get the meaning. FWIIW he was an understudy of the great freshwater theorist Frank Knight.
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Old 11-08-2019, 08:48 PM
 
1,998 posts, read 491,139 times
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Quote:
Originally Posted by EDS_ View Post
Right. It's tough to take the other guy seriously about anything but especially this stuff. He's seen 10%-30% food inflation over the last year. While the people who actually track this stuff for a living measured out 1.8% over the last year.
Yep. I track the prices of what I am purchasing at the grocery store and they have been increasing much more than 1.8% over the past year, but keep denying it lol. ED, do you actually shop for your own groceries?
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Old 11-08-2019, 10:21 PM
 
2,762 posts, read 1,601,971 times
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Quote:
Originally Posted by heart84 View Post
Yep. I track the prices of what I am purchasing at the grocery store and they have been increasing much more than 1.8% over the past year, but keep denying it lol. ED, do you actually shop for your own groceries?
Post your prices.
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Old 11-08-2019, 11:42 PM
 
1,998 posts, read 491,139 times
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Quote:
Originally Posted by aridon View Post
Post your prices.

Here are some examples from some of my most commonly purchased items:


January 2019 November 2019


Coconut milk $3.19 $3.99


Coconut oil $6.19 $7.49


Sardines $2.79 $3.19


Organic PB $4.29 $4.79


Bag of carrots $2.89 $3.29


Frozen fruit $3.15 $3.55


Guacamole $3.99 $4.99
(tub shrank and
price increased)

Raw honey $4.19 $4.89
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Old 11-09-2019, 03:43 AM
 
75,658 posts, read 75,072,635 times
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The problem with food is it is not monetary inflation but weather , demand and other factors that make it go both up and down ....I have paid anywhere from a dollar to 3 dollars a lb for grapes ...

So foods can go up or down with usage just like we paid more for oil and gas more than 10 years ago .. that which was scarce is now abundant...
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Old 11-09-2019, 06:13 AM
 
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Yet you will pay more for abundant gas next May just because
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Old 11-09-2019, 06:17 AM
 
75,658 posts, read 75,072,635 times
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Quote:
Originally Posted by homelessinseattle View Post
Yet you will pay more for abundant gas next May just because
Meh .... we always have seasonal prices ...but with oil at 140 a barrel , more than a decade ago ,we are so far below where we should be by old metrics
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Old 11-09-2019, 10:03 AM
 
8,985 posts, read 9,637,031 times
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Quote:
Originally Posted by mathjak107 View Post
The problem with food is it is not monetary inflation but weather , demand and other factors that make it go both up and down ....I have paid anywhere from a dollar to 3 dollars a lb for grapes ...

So foods can go up or down with usage just like we paid more for oil and gas more than 10 years ago .. that which was scarce is now abundant...
Good post. It is interesting, and probably due-to so many available close substitutes along the food continuum, that food prices are less volatile than other sectors.


Since the end of the Carter Admin. food inflation hasn't been much of an issue.


For fun sometime overlay food inflation and oil prices over the last 25 years - not perfect just interesting.
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