Hyper-Inflation Is Already Here

Obama Administration Cannot Obfuscate The Facts Any Longer

The American Thinker blog today has an excellent article on the Obama Administrations attempts to hide inflation from the American People.

Using the unemployment rate, census data and recent commodity prices, Steve McCann writes a piece today that’s an economics clinic on why these factors will have a chilling impact on our economy thereby killing any chance for an economic recovery any time soon.

Meaning: while the current worst-president-ever-community organizer – in-chief is in the Black House.

But for those of us who may not have economics degrees and understand the terms and charts Steve McCann uses in his article, I took a simpler approach.  Using grocery receipts from the last 12 months, I compiled a list of grocery staples that most American’s purchase to demonstrate the effects of inflation on our household budgets.

I do so with full understanding that the U.S. Government does not count the cost of food and fuel in the core inflation index, but there is no doubt, as all reasonable American’s know, that the price of food and fuel absolutely do impact our household budgets and as a result, our disposable income.  It is after all that “disposable income” which is used to purchase other things such as clothes, cars and other items which drive our economy.

Using receipts from the last year, here are the affects of Obama’s “economic policy” on my household at the grocery store:

• Coffee. A 2 pound, 5 ounce container is around $12. 6 months ago it was around $7. Prior to that, the average price was $3.99.
• Dozen Eggs. Last year, 99 cents. On sale, 79 cents. Yesterday, $3/dozen.
• Milk. $4/gallon. The price has fluctuated so much it's hard to tell what it USED TO BE. Last time I picked it up at the local convenience store near the house about a year ago, I paid something like $2.49/gal for 2%.
• Canned Gren Beans (Generic). 8 months ago, 33 cents for a 12 ounce can. Yesterday, same brand was $1.49
• Flour. 5 pound bag yesterday was $7. 8 months ago it was under $2.
• Sugar. 5 Pound Bag yesterday was $8. 8 months ago it was under $2.
• Chicken. Over $3/pound here, it used to be around 79-99 cents per pound in the last year.
• Beef. We don't even look at the price anymore, it's gotten that expensive and is no longer a part of our diets.

We've known this corrupt government led by the community organizer in chief has been lying for a very long time. Frankly, I’ve never believed a word this POS has said since his days here in Chicago. 

I'm fortunate enough that my wife saw all this coming months ago and began stockpiling our pantry and freezer. With the exception of milk (and occasionally eggs..) we no longer buy any of the above as our pantry has been well stocked for awhile now.

We can pass these prices up until they come back down, but not everyone we know is as fortunate. My wife has done a great job with the family food budget (she’s become a coupon maven) so she could "splurge" when something like coffee went on sale for $3.99-$5.99 some months ago and stocked up.

I just counted our pantry, I have 24 2 pound, 5 ounce Maxwell House Mountain Roast cans on the shelves. That's well over a year's worth of coffee for us. At today's prices, that's about $300 worth of coffee that should've cost about $94 at "uninflated" prices.

Every family in America that has to go to a grocery store knows that hyper-inflation is already here. Our government hides it by not including food and fuel costs in the calculation. I cannot imagine what those on retirement/fixed incomes are going through just trying to put food on their tables at these prices.

Lastly, Gasoline prices.  The cost of 87 octane unleaded here is $3.60/gallon.  Diesel is $3.85/gallon. Those are the highest prices since the summer of 2008.  With the exception of one two-week period in mid-2009, regular unleaded gasoline and diesel fuel prices have remained above $3/gallon during Obama’s pResidency.  Even with these prices nearing all-time highs, there is no talk of re-opening the Gulf for drilling, or tapping into our own natural reserves.

We all know hyper-inflation is already here.  We see it every time we go to the grocery store or stop to put gasoline in our cars or diesel in our trucks.

Thanks Obama! (/sarc)