from The Burning Platform:
I bet you thought this was going to be about the stock market after the Federal Reserve minutes confirmed that Yellen will be printing for eternity. Yes the .1% are thrilled and have programmed their HFT supercomputers to buy buy buy. This story is about the common folk who need to buy food to eat. The all-time high in the stock market has no meaning to 90% of the population, but an all-time high for beef impacts every middle and low income person in the country who have seen their incomes stagnate since 1998. This won’t show up in the CPI numbers because the BLS drones assume you switched from beef to Alpo, therefore there was no price increase.
Come grilling season, expect your sirloin steak to come with a hearty side of sticker shock.
Beef prices have reached all-time highs in the U.S. and aren’t expected to come down any time soon.
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