Food Prices: Shock and Awe

With such pricing chaos and dramatic changes, calculation becomes very difficult and precision impossible. [Gilder's Daily Prophecy] March 22, 2022 [UNSUBSCRIBE]( | [ARCHIVES]( The Lazy Way to Buy Gold… You don’t need to leave the house and haggle with some pushy salesperson. It’s never been easier… less stressful… and more convenient to buy precious metals than it is today with Hard Assets Alliance. [Simply click on this link (with the Lazy finger), open a FREE account, and buy gold, silver, platinum or palladium today.]( If there’s anything you’ve missed as part of your membership to Gilder's Daily Prophecy, make sure you check out our website where you can find archives, updates, and everything else that's included in your subscription. You can access it by [clicking here now](. Food Prices: Shock and Awe [Jeffrey Tucker]Dear Daily Prophecy Reader, Before we get to our weekly update... There is something urgent I’m asking you to take a look at. One of my colleagues just made a rather interesting discovery regarding the future of “The Cryptocosm.” Specifically, he’s pinpointed a handful of [tiny investment speculations]( that are poised to ride alongside an exponential growth curve over the coming years. (According to his research, he’s projecting a 9,900% industry boom by 2026). George even recorded a short video clip explaining everything. [[You can watch it here.]( It’s not long. Maybe three minutes or so. I hope you take a moment and watch it at your earliest convenience. After you take a look, read on below... Groceries and gas: these are the ways most people experience inflation in real time. My own weekly trip to the store left me in total shock, and I’ve been expecting an increase in prices. But this trip was much more alarming. I had a sense of mental fog, a vague memory of a world that had passed us by, back when I paid no attention to the price of a toilet paper roll. Was it always $1? Nope. It was a quarter last year at this time. Bacon: forget it. Beef: barely affordable. Cream, cheese, crackers, sausage: all of it outrageous. And then there’s the strange world of package shrinkage. The Polish sausage that was 16 ounces is now 12, and costs more. The frozen vegetables have shrunk. You get less for more. I’m wholly sympathetic with the sellers here. No one is ripping anyone off — except that the government and the Fed is ripping everyone off. Why the Silence? I notice too few media stories on all this. One might otherwise have expected a blizzard of inflation news, alongside sad stories of families struggling and food lines growing in length in every city. Instead, we hardly hear anything, apart from Tucker Carlson and few others. It’s almost like an order has gone out: don’t talk about the pillaging of America. After long experience, we know why: major media is covering for Biden. It’s impossible not to notice that. Still, it’s weird. We live in a once-in-a-lifetime level of inflation and it gets worse by the day. And yet, the major news seems mostly to be keeping it under wraps. Looking for verification of what my eyes see, I have a look at what the Fed reports on food prices. They say 7.5%, which is bad but not panic level stuff here. This number is either old or just plain wrong. It fits with no experience. Based on what I’m seeing, there is no index number to sum it up. But generally, products are seeing annualized increases of 30-80% and this seems to be accelerating. Real People, Real Reports So I talked to the guy in the line at the store with me. He is in the housing business. His costs have doubled. But what has him terrified now is the tripling of the price of fertilizer. He spoke of a coming famine in many parts of the world, and food riots here at home. At this point I believe it. I called my mom, who lives in a Texas rural paradise, that only last summer was untouched by any notable price increases. Now, everyone around her is extremely worried as even beef prices have nearly doubled. She is fearful for her friends who cannot afford to eat. Curious, I took a poll on Twitter. The answers came back and demonstrated what I expected. Things are simply crazy out there. Two general comments stood out: “Why ask about the last six months? The biggest increase happened only last week!” This comment reminds me of the great inflations of the past. It’s impossible even to chronicle them in real time. By the time the bean counters have finished, their estimates no longer apply. This can be helpful in keeping the public calm. The second comment was more intriguing: “I don’t know because the last 20 months for me have been nothing but a blur.” Exactly. This is true for millions or billions of people. Lockdowns, shots, closures, restrictions, censorship, bans, cancellations, screaming, demonization, division, suspicion, hate, police, crime, confusion, and now war. Thinking about it all is too confusing. It’s hard to trace cause and effect. It’s hard even to know what’s true or even what is happening or did happen. It’s a mental disorientation to keep people too confused to think about who or what is to blame. Forgive me for thinking this is all deliberate. It’s the fog of war, for sure, but there is a machine out there producing all this fog so that we cannot see much less understand. Gilder: “The Internet Is Cracking.” [Click here to learn more]( As you know, “The Cryptocosm” will eventually replace the current architecture of the internet… …and trigger one of the greatest technology disruptions of our lifetime. That’s why George writes, [“The Internet Is Cracking”]( But here’s the thing… This epic disruption – and the [profit opportunity]( at hand -- may be coming to a head much faster than any of us expected… [Here’s why…]( Sticker Shock and Awe Onward to some results of my little survey. “I used to buy 10 lbs ground beef from my local country market for $20. This week they are asking $42.” “I had a margarita at the airport on Saturday. It was $28. Previously, I can’t remember ever being charged more than $15.” “A whole pack of brisket at a local open-to-the-public meat wholesaler in Miami could be had for $2.59 per pound a year ago. Now, no chance below $4.99 per pound.” “I just paid $6 for chips and queso. It is up from $4.50 2 months ago.” “Our bag of dog treats was $5.89 a year ago. Now they're almost $9.” “I bought irregular cut bacon to avoid rising prices. Last year I could buy regular bacon for the same price.” “Not a food item but I stopped to buy some trash bags today and the box I have been getting for around $3 was now $8, and that is just a store brand.” “36 eggs have gone from ~$3.50 to over $6” “I just bought grapes for $12.. they used to cost $5.99 for the same amount. I savored every last one. My gluten free bread can be upwards of $9 a loaf when it used to be $6.” “Almost every item at our local natural foods co-op has increased 50 cents-$2 PER ITEM. It would take forever to describe it all.” “Two of these breakfast burritos and one beer: $28” “One food item I used to buy went up 25%, then was out of stock for months. It is now back in stock but up 50% from the original price.” “Trader Joe’s today. 2 bags of groceries.. not much.. avocados, tomatoes, cucumbers, corn chips, coconut water, 3x butters, humus, flowers and a box of z bars. $90. BOOM! I actually added up the receipt with my phone bc I was so surprised. Wild.” “Just noticed usually a 29 (2 weeks ago) cent lime now 49 cents at local Traders Joe's here in NJ. “ “Cobb salad at Safeway 4.24 last year is over 8 dollars now . Small roast beef 51 dollars . T-bone last year 18 bucks today 28 to 32 . I could go on and on !” “Today at the market the 4 lb bag of grain-free dog food I bought last year for $9.99 is today $17.99.” “Filet mignon $15/pound now is $27/pound.” “I paid $4.55 for 5 envy apples, now it’s $ 8.90.” “Bacon has doubled in price. A lb of bacon is over $10.00. That’s ridiculous.” “80% lean ground beef at Kroger/Fry’s in Arizona. Last year: $3.99/lb. Today: $7.19/lb.” “Today, 1lb bag of small potatoes (for roasting/smashing) 4.98. Yr ago, 2.98.” “Grocery bill per week for 6 people went from $350- $500 for the same groceries.” “Our daughter went to college and briefly our grocery bill went down a bit. It’s now $150 more regularly per week for one fewer person in the house. Family pack of chicken thighs was $10-$12. Now $16-$18.” What Hell Awaits? I could go on but you get the point. If you are doing the math, what you see are annualized increases in food prices now approach 70-80% on the retail end. And that’s only because the wholesale price increases of last fall are only now figuring into the retail end. Contrary to myth, sellers don’t want to raise prices. They do not know what the effect will be on consumer demand. They work to delay them as much as possible. They also fear retribution from gouger hunters in the media and government. But the onset of war in Russia/Ukraine, plus the weird change of topic from Covid offered an opportunity to do what had to be done. It’s like holding a lid on a boiling pot of water. At some point, there must be a release. That is now. With such pricing chaos and dramatic changes, calculation becomes very difficult and precision impossible. We can only rely on the evidence of the senses. . All of this hurts people in Western democracies. Abroad, millions face starvation and famine. None of this was necessary. It was created by governments. We do well to fear how all of this is going to end. Regards, [Jeffrey Tucker] Jeffrey Tucker Crazy “Back Door” Way Into Alt Coins [Click here to learn more]( It’s no secret that people that are getting in on “alt coins” (any coin other than Bitcoin) have had the chance to make a fortune in the last year…. Virtually hundreds of these tiny cryptocurrencies have shot up 1,000’s of percent.. You don’t need to risk any money at all to get into some of these. You see, our resident crypto expert James Altucher has found a weird [“back door”]( way into these types oftiny coins. One that requires NO monetary investment on your end..(just a few minutes of your time) I know that sounds crazy, but it’s 100% true.. Don’t believe me? Just [click this link]( and James will explain everything in less than 2 minutes. 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