Food Prices, Shortages & Inflation - The Trash Index

[k0xxx]

Here's an article from the WSJ on the dollar loosing its' position as the worlds reserve currency.

Why the Dollar's Reign Is Near an End

Basically, what it means is that the price of financing our debt is going to go up considerably, if we can even find anyone to buy it. If not we will either begin printing even more money, thus postponing but exasperating the problem even more, or it will mean deep cuts in spending. The Greeks are experiencing the type of cuts we are talking about, and I don't believe that the entitlement class in the US will take it much better that they are.

The panel openly discusses that the dollar will be devalued by at least 20%. That's a 20% increase in the cost of everything imported into the country, and there isn't much produced here anymore.

Lest you think that I am a worry wart (ok, I am, but that's beside the point), just ponder the situation a bit. We currently have 43 million Americans on food stamps. That's getting close to 15% of the population of out country and the number has increased every month for the last 20 months. Food prices may be increasing 50 to 75% over the next year. Energy prices may increase another 25%, or more depending on what happens in the mid-east. Thirty seven states are in deep financial trouble and will have to either raise taxes dramatically, cuts many services, or both. Then the Federal Government announces deep cuts to social programs. And did you know that there has already been some discussion in Congress about the possibility of having to nationalize (take over) private 401k plans to help the Feds make ends meet?

Add on top of the above, the 20% devaluation of the dollar and the corresponding further increases to prices. It would not take much imagination to divine that the mood of the general public may turn downright nasty. Hold on, it looks as if we may be in for a bumpy ride.

 

[patandchickens]

Quite frankly, I didn't make that number or fact up out of the blue. This is data quoted from a site that teaches French Intensive Gardening. It was aso found in a book called "Gardening:Len's Way" which describes how to do as I described in a raised bed garden. It was NOT wriiten carelessly nor was it believed to be so. Your gardening methods may differ.

It's not gardening methods.

It's reality.

Look, even Mel Bartholomew, who is EXTREMELY boosterish (and rather unrealistically optimistic) about intensive gardening in 4x4 raised beds does not make that claim.

What he DOES say (and most likely the others you are quoting, although without sources I can't see what they actually wrote) is that you can grow about as many fresh veggies (of particular types) as one person is going to care to keep up with eating, during the growing season, on a 4x4' plot. His exact phrasing in the edition of his book I have is that this plot can "satisfy all that person's vegetable needs".

There is no way you are going to get enough protein and total calories out of that plot to fully FEED the person, though. And even good ol' rosy-glasses Mel points out that if you want to put some up for the nongrowing season you will need more garden area.

Seriously, maybe you don't believe me but there ARE people on this board new enough to gardening to think that all they have to do is start a 4x4 plot and spend some time planting and weeding and their food worries are over. Which is SO not the case (even to reach Mel Bartholomew's very-optimistic scenario requires excellent gardening skills and a good bit of luck)

(e.t.a. and it worries me when people go stating these sorts of things as proven facts just because they think they read them somewhere, as opposed to because they actually have done it -- that accounts for a LOT of misled people, however well-meaning the whole thing may be)

Pat

 

[i_am2bz]

And did you know that there has already been some discussion in Congress about the possibility of having to nationalize (take over) private 401k plans to help the Feds make ends meet?

Now that's some scary sh*t, if true. I don't plan on seeing one thin dime of my SSA benefits, so am counting big-time on my 401k. :/

And DH thinks I'm getting neurotic, babying my sprouts in the garden & seedlings sitting in trays on my window sill.

 

[k0xxx]

Although the latest discussions are on whether to remove the 401k tax deductions, George Miller, (D) California has been kicking around the ideas of whether there would be any control or takeover of 401k's by the Federal Government.

With the currently divided control of congress, I don't see these ideas gaining much traction anytime soon. However, never underestimate the proclivity of congress to do stupid things.

 

[Wifezilla]

lest you think that I am a worry wart (ok, I am, but that's beside the point)

 

[ksalvagno]

Well, last summer I picked up a 50 lb bag of cocoa for $63. Today I got a 25 lb bag of cocoa for $93 and that was all I could find. My local bulk shops can't get cocoa. So buy up chocolate!

 

[i_am2bz]

Well, last summer I picked up a 50 lb bag of cocoa for $63. Today I got a 25 lb bag of cocoa for $93 and that was all I could find. My local bulk shops can't get cocoa. So buy up chocolate!

Hey, maybe that's our new reserve currency! Not the gold-standard, the chocolate-standard!!

 

[Wifezilla]

It would work for most transaction completed by females anyway. The guys will have to move to the duct tape standard

 

[Dunkopf]

And did you know that there has already been some discussion in Congress about the possibility of having to nationalize (take over) private 401k plans to help the Feds make ends meet?

Now that's some scary sh*t, if true. I don't plan on seeing one thin dime of my SSA benefits, so am counting big-time on my 401k. :/

And DH thinks I'm getting neurotic, babying my sprouts in the garden & seedlings sitting in trays on my window sill.

401k's are fully owned by the person who's account it is. It is the same as a savings account with a higher rate of return (hopefully). The money in that account was earned by the person that owns the account. Sometimes there is a matching contribution by the company up to a set percentage. It is taken from your pay before tax just like company provided health care. There is a 10% penalty for withdrawing before 59 and 1/2. In addition any withdrawals are added to your income for the year in which they are withdrawn and taxed like income, since that's what it is. The government can't touch your 401k anymore than they can take money out of your savings.

Now I have heard that the government subsidizes the employers for their contribution in order to encourage people to join the 401k program. It gives more money to Wall Street and it's always a good idea to save for retirement. SS doesn't pay enough for someone to live on after all. SS should be around till about 2045 but I wouldn't count on much after that. If a lot of people that currently hold the majority have their way, a lot of people won't see anything at all from anything.

A lot of companies have scaled way back on their matching 401k contributions. Has nothing to do with Uncle Sam though. They're just staying afloat. Could be that the gov is talking about dropping the 401k pre tax status to bring in more revenue. That would just mean that you would only have to pay tax on any interest earned on the account when you withdrew it at retirement time. That of course would decrease interest in the whole plan and it would eventually go away. There's plenty of other ways to make good money through wise investing.

Whoever is talking about the government raiding 401k's is doing more fear mongering. After all the human sheep behave much better when they are afraid. Much easier to manipulate.

 

[ohiofarmgirl]

Well, last summer I picked up a 50 lb bag of cocoa for $63. Today I got a 25 lb bag of cocoa for $93 and that was all I could find. My local bulk shops can't get cocoa. So buy up chocolate!

Hey, maybe that's our new reserve currency! Not the gold-standard, the chocolate-standard!!

and at least the chocolate standard would mean something! ha ha ha ha ha

K - i started buying the cocoa boxes a while ago every time i went to the store. i have a nice stack of them but now i see i need to be more aggressive!