Groceries have consistently risen the past several years. I have made the observation during the last four.
Michael Snyder is a blogger. I have previously mentioned him. His blog yesterday alarming. It’s title: “What Will You Do When Inflation Forces U.S. Households To Spend 40 Percent Of Their Income On Food?”
Snyder starts with corn. He reports the price of corn has gone up 142 percent in the last 12 months. My advise: Stop eating corn!
However people can’t merely stop eating. Sustenance is required to survive.
The cost of food typically used to be 10 percent of disposable income. The 10 percent of course did not apply to the poorest. They are required to spend more than the middle class or richest.
The USDA recently wrote that in 2019, income for the poor remained static as the price of food rose. The USDA claims the poorest have been required to spend 36 percent of their disposable income on food.
What about the average American family? Some economists believe that eventually the percentage of disposable personal income for the average American family will each 40 percent. Sooner than later.
Which means the poorest will spend more than 50 percent of their disposable income on food.
The theory behind the percentage of disposable income is simple to understand. The salary of the poor remains constant at a time when the price of food is increasing. The rich on the other hand do not feel the increase cost of groceries since their disposable income is so high that the increase is never experienced.
Inflation is moving up. The largest increase month to month in 9 years.
Government spending comes into play. The government this year hopes to spend a whopping $11 trillion. The government does not have $11 trillion. If Biden’s tax plan does not work, the money will have to be borrowed.
Note I believe Biden did the right thing with the stimulus spending. It was the only way to prevent a deep recession, the only way to be sure most Americans had some money to spend on necessities or anything else.
The American people loved receiving the stimulus checks. However if a cart of groceries will cost $400, nothing will help. Forget any more stimulus checks. The money in any fashion is just not there.
Snyder predicts a major national crisis. As smart as he is, he is not always correct. I hope he is wrong in this instance.
Gun shootings. Will they ever stop?
The most recent occurred yesterday at the Rigby Middle School in Rigby, Idaho. Sixth grade. A female 6th grader yet unnamed came into class with a gun in her bag pack. She pulled the gun out, shot 3 persons in the limbs. Two students and a custodian. Her teacher was finally able to take the gun from her.
No further details are available at this time.
Texans are on a roll. I am not referring to the voter restriction package being worked on at this time.
There is another bill of consequence moving legislatively. It passed the Texas Senate yesterday. A “Constitutional Carry” bill allowing handguns to be carried without a permit.
Republicans do not believe a permit should be required in order for a person to “carry.” They believe other gun laws passed by Texas in recent years contain sufficient restrictions on gun control.
Facebook’s monopolistic problems continue to grow. Could reach a point where government interference will be required. To break Facebook into several smaller companies with no connection one to the other.
Reminds me of the telephone company of old. I thought the break up stupid at the time. I obviously was wrong. My problem was the government was punishing a company for becoming too good at what it was doing.
The break up of the Bell System occurred on January 8, 1982. The Department of Justice had filed an anti-trust lawsuit against Bell in 1974.
The break up was resolved by Bell and the U.S. entering into a Consent Decree providing, among other things, that the AT&T Corporation would relinquish control of the Bell Operating Companies that had provided local telephone service in the U.S. and Canada up to the date of the Consent Decree. AT&T would retain the long distance part of the business and its Western Electric subsidiary which provided most of the telephone parts in the U.S.
A monopoly split. Life went on.
If the U.S. goes after Facebook to split it up into smaller companies, it will not happen overnight. It will take years for the litigation to be resolved. Note that the telephone company break up took 8 years before the lawsuit was finally resolved.
Schadenfreude. A big word.
Read it for the first time yesterday. Had to look it up. The word means to derive pleasure from the misfortune of another person.
All a lawyer has is his reputation. Not only as a skillful practitioner, but also as an honest person.
William Barr was not a man of ethics when he served as Attorney General under Trump. His reputation as an issue arose in a federal case being presided over by Judge Amy Berman Jackson.
She wrote in a decision handed down this week that Barr was a fixer and corrupter of justice. The rule of law went out the window when he decided matters.
More is to be revealed in a further decision to be handed down in the next two weeks.
Barr now walks with a “sullied reputation.” His series of wrongdoings many.
Little Palm Island has for years maintained a world wide reputation as one of the finest resorts in the world. Irma blew it away. Took 3 yeas to rebuild.
Little Palm Island in located 30 miles north of me on Little Torch Key. A boat ride off U.S. 1.
Conde Nest announced its Hot List this week. Hot List referring to the finest resorts in the world. Little Palm Island is on the list. Conde Nest says it offers “a fresh take on tropical chic” and redefines “the exotic castaway fantasy.”
Twenty years ago, my former wife and I enjoyed dinner one night at the Island. Out of sight food and service! At the time, the resort had something like 11 cottages. The wife wanted to check them out.
When she returned, she told me the cost was $1,100 a night and not worth it.
A portion of the article I read included price per night. TripAdvisor advised the lowest cost is $3,890 a night. Ridiculous money. No way would I spend it.
My 412 days of self-quarantine continues to affect me. I stayed in again last night. No problem. I was comfortable remaining in with my books and old movies.
I find my problem is a common one. Psychologists are writing about it. People are talking about it.
I know I will get out tomorrow night. Dinner with Donna and Terri. I have not seen them in over a year.
I told Donna I have one requirement. We have to eat outside. She laughed. She and Terri have already has been eating inside.
Enjoy your day!