patrick.net

https://www.nytimes.com/2022/10/19/business/europe-food-prices-inflation.htm

Bread Prices Skyrocket as Inflation Grips Europe
The elevated costs of flour, nuts, eggs and even electricity are forcing bakers to increase their prices and cut their production.

Since Russia’s invasion of Ukraine, the price of the wheat that Julien Bourgeois grinds for boulangeries at his family’s flour mill in central France has increased more than 30 percent. The bill for the electricity needed to run the mill has tripled. Even the price of paper used for flour sacks has hit the stratosphere.

All of which are driving up the price of a loaf of bread.

“Inflation is brutally high,” said Mr. Bourgeois, inspecting the mill’s mammoth crushers as they ground wheat into flour. He has urged the 1,000 bakeries that his company, Moulins Bourgeois, supplies to mark up the iconic French baguette by 10 cents, from a current range of one euro to €1.30, to offset the higher costs that he has had to pass along.

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ad says

Bread Prices Skyrocket as Inflation Grips Europe

Very surprising, since most Euro governments subsidize the cost of bread. They do that because they believe all revolutions start when the price of bread is too high.

HeadSet says

ad says

Bread Prices Skyrocket as Inflation Grips Europe

Very surprising, since most Euro governments subsidize the cost of bread. They do that because they believe all revolutions start when the price of bread is too high.

It's not a specific bread subsidy, many European countries tax most essential foods with a significantly lower VAT than the regulat VAT. Not the worst rule

https://notthebee.com/article/joe-bidens-inflation-is-reportedly-costing-the-average-american-family-over-400-more-per-month

Patrick says

https://notthebee.com/article/joe-bidens-inflation-is-reportedly-costing-the-average-american-family-over-400-more-per-month

Make sense as I suspect the median and average household income is around $60,000. 8% annual inflation applied to at least $55,000 of the expenditures from that $60,000 equates to $367 a month. $5000 of the $60,000 is a contribution to retirement accounts such as 401k or IRA.

https://www.bloomberg.com/news/articles/2022-10-18/democrat-warner-says-biden-s-pandemic-relief-package-was-too-big

Senator Warner says the $1.9 trillion stimulus legislation under the Birdbrain (Biden) administration was too much.

Combine that $1.9 trillion in giveaways (as well as any student loan forgiveness) with Biden's energy policies (see a few example links below) effects, and that is why we had a major jump in inflation by July 2021.

https://www.cnbc.com/2021/01/27/biden-suspends-oil-and-gas-drilling-in-series-of.html

https://www.nytimes.com/2022/05/12/climate/biden-oil-gas-lease-sales.html

Warner said a bipartisan budget deal including long-term spending and revenue changes to bring down the deficit would be good policy, citing rising federal interest payments as a reason to act.

“Is there an appetite? I hope so. Is there any movement on that at all? No,” Warner said. “Neither party has any credibility on this issue.”

Nothing stopping Warner from introducing a spending cap.

Patrick says

Just shows how racist Whites are. They kept the land but got rid of the Indians.

HeadSet says

Nothing stopping Warner from introducing a spending cap.

We need a Constitutional spending cap for the federal government. I say 1% of GDP, no more.

The federal government currently spend about 15% of GDP to fuck things up.

https://www.hennessysview.com/p/a-constitutional-amendment-to-control

Only 7.2% on used cars? Price a 2018 and tell me that.

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CPI or inflation increased at a fast pace after March 2021. September 2022's CPI was 8.2% and has dropped slowly since June 2022.

What do you all expect October 2022's CPI to be ? I estimate it will be between 6 and 8%.

I estimate the Fed may not raise the Fed Funds rate from 3.25% to 4% next month if it is below 5%.

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The Fed is virtually guaranteed to raise the Fed Funds rate from 3.25% to 4% this month.

If October inflation is

more than 8% then the Fed will raise it to 4.75% in December
between 6% and 8% then the Fed will raise it to 4.25%
if below 6% then they will not raise it

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https://finance.yahoo.com/news/heres-how-much-more-your-thanksgiving-dinner-could-cost-this-year-wells-fargo-124407632-124407924-124407766.html

https://www.newsweek.com/majority-americans-back-stimulus-checks-inflation-poll-1755636

Majority of Americans Back New Stimulus Checks To Combat Inflation

zzyzzx says

https://www.newsweek.com/majority-americans-back-stimulus-checks-inflation-poll-1755636

Majority of Americans Back New Stimulus Checks To Combat Inflation

Idiots need to go to work.

We went to a locally owned diner for brunch on Wednesday. First time there since before the COVID closures.
That place has been an institution in the neighborhood.

Oh my freaking gosh. The prices are so high now. There's no way they can survive charging those prices, and probably no way they can survive if they reduce the prices.

They're doomed.

Don't worry the government will send out some more "Inflation Relief Checks" to the poor to solve the problem.

B.A.C.A.H. says

Oh my freaking gosh. The prices are so high now.

You can't even buy a sandwich for under $10!