Wednesday, Jun 13, 2007
Get out of this one Mervyn!
Telegraph: Consumers warned as food prices rise and rise
The era of cheap food is over, as prices of basic ingredients on the global markets continue to climb, consumers were warned yesterday.
It came as official Government figures showed that food inflation is running at five per cent higher than the growth in wages.
Posted by tyrellcorporation @ 08:33 AM (167 views) Add Comment
19 Comments
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1. sovietuk said...
"The era of cheap food is over", Nice - no pensions, work to you drop, unaffordable housing, insecure employment now it's going to be a struggle to find the money to eat. Might as well just die.
2. paul said...
Forget the old measure RPI things like bread and milk, what about the CPI necessities like Champagne and DVDs?
3. dohousescrashinthewoods said...
Heh, sovietuk, sounds like "the people" have had the cr*p "leveraged" out of them my "the capitalists" - or perhaps Blairoid mismanagement. Who knows, but it sounds like "we've never had it so good" is just another hollow assertion in stark contrast with reality. It is possible to hit every target and still lose the game - it depends which targets you aim for and how you measure the hit.
Life is hard, life has always been hard. What the last generation made out of it we will not be able to repeat, but I'm sure the next generation will look back at us and grumble that we had it easy, because we will make something different out of our lot. But we have to work it out.
Yes it's looking ugly, but if we're really in for the biggest economic turmoil / change of world order in living memory then there will be a lot of opportunities. If we have a 50% HPC and property "Japans-out" for 20 years, not only will we all be able to go out and buy "homes" instead of investments, but there will be a new bubble to profit from wherever the property money is now going.
4. mrmickey said...
Oh dear just as were paying all our farmers not farm and turn the countryside in to a play ground for the prols and build new towns on what's left.
5. Orwell said...
Well done Blur the Gulper and all for supporitng Tesco and Asda etc. in thier monopolistic behaviour...
6. harold said...
" "The era of cheap food is over", Nice - no pensions, work to you drop, unaffordable housing, insecure employment now it's going to be a struggle to find the money to eat. Might as well just die." sovietuk
Where is all the wealth going, I wonder?
7. george monsoon said...
into the pockets of the 50+ generation.
8. speculatorone said...
Inflation went down yesterday (allegedly)
Was the reasons given cheaper food prices and fuel costs?
Food and oil prices going up.
Has anyone noticed how expensive petrol/diesel is at the moment?
Cooking the books spring to mind.
9. Orwell said...
Spec...,
I don't think they are publishing my blogs at the mo (probably too controversial) but I cannot suspect otherwise either
10. Wage Slave said...
"Consumers spend 7.8 per cent of their income on food, with most of their disposable income being spent on holidays, electronics, meals out and other luxuries. "
Not in my household. I had my first foreign holiday in 6 years at Easter.
How can this government justify using an inflation measure that does NOT include the price of buying a house when 70% of houses are owner-occupied ?
11. japanese uncle said...
If you mess with crude price, you can create this. Now as I mentioned, 10%+ IR seems within the perspective. Whenever people forget to get angry about the way our governments and big businesses behave, this will always happen. This is after all what was wished for.
12. Ticktock said...
Combining corporate power with that of the state has been done before of course, most famously by another regieme that sought to 'reorder the world around them', picked on minority ethnic groups, and expanded their Reich at the point of a bayonet.
13. David20040_0 said...
But hasn't the CPI just dropped to 2.5% and the BoE thinks it will keep dropping?
I don't understand, surely it should be rising?
Help me to understand this.
14. Orwell said...
In fact ,
Is there anything that is within the inflation target at the moment?
15. The Capitalist said...
Food has never been cheaper, a 100 years ago it took a labourer a day's pay to buy a loaf of bread...now we have a few more souls on the planet and a huge emerging middle class in China and India who want more protein-based food - we have competition for food...mind you seeing all the overweight people around these days a bit of going without do 'em good!
16. Orwell said...
Who wished it JU?
17. fahrenheit451 said...
It'll all end in tears. GB(H) and Swerve will carry the can. Not that I want them to, its just that GB(H) has his own agenda and Bliar was just a photo-opportunist who would "grinn & bear" the idots around him. Swerve, well I really don't know. All for a glimmer of attention, like small children, but its always the parents (that's the rest of us) who have to take the pain, because we did not give them proper lessons in dicipline (that's the ballot box).
Result: Useless pensions, Boom/Bust economy, inflation at 10% in real terms.
As always they never learn anyway, if it's a 10 to 15 year economic cycle, they really do not care, its so long they are always out of the way, either taking the credit for somebody else's forsight, or passing the buck to the previous shower.
18. bidin'matime said...
Dohouses - good speech - I remember thinking that the 'older generation' had it easy, but you just have to take the opportunities that come your way.
19. sold 2 rent 1 said...
Dohouses,
There is something very philosophical about the Kondratieff cycle.
The cycle wavelength, now at 70 years, is slightly below the average life expectancy.
This gives all generations a chance to experience all the 4 seasons in their lifetime.
It is still not total equality though.
The best time to experince a k-winter is 0-18 years. This way life only gets better.
The worst time is ages 18-35. History shows that these people are the ones who are forced to fight the resulting wars.
A k-winter just before you retire is not great either. All your assets (shares and property) are destroyed and you have to live out your final years in poverty.