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Supermarket Scramble: Food Spending's Share Of Disposable Income Hits Highest Level In Three Decades

The most recent inflation prints (CPI & PPI) are the latest examples of Bidenomics failing Americans. For many, the supermarket is a painful experience (much worse than gas stations) as prices for everyday necessities remain elevated while real wages are negative once again. The risk of inflation re-accelerating is even more terrible news for consumers ahead of spring.

We penned a note earlier this month titled "Food Inflation Is Not Yet Dead" as commodity prices for cocoa beans, ground beef, robusta coffee, and orange juice, among many others, continue marching higher despite the Biden administration's promise that Bidenomics is working. 

A startling new report from the Wall Street Journal shows consumers spent 11.3% of their disposable income on food, the highest level since the early 1990s. 

"If you look historically after periods of inflation, there's really no period you could point to where [food] prices go back down," said Steve Cahillane, chief executive of snack giant Kellanova, in an interview, warning food prices "tend to be sticky." 

What Cahillane means is that consumers should get used to spending a higher percentage of disposable personal income on food in the era of failed Bidenomics. 

https://www.zerohedge.com/markets/supermarket-pains-food-spendings-share-disposable-income-hits-highest-level-three-decades

Homesteaders and Hippies:

I’ll be speaking at the Rogue Food Conference at Joel Salatin’s farm in Swoope, VA on May 17th and 18th.

Are you sufficiently noncompliant?

If not, go rogue.

https://roguefoodconference.com/awesomestuff/poly2024/polyface-2-day-pass-to-rogue-food-may-17th-and-18th/

@RepThomasMassie

US fiscal response to Covid was four times larger than Marshall plan. https://marketnews.com/mni-interview-kaplan-says-loose-fiscal-is-holding-up-fed-cut

The IRS is using AI to Access Bank Accounts of American Citizens without a Warrant

“What we have learned is that in fact the IRS has been using AI to access bank accounts of American Citizens without any kind of a Search Warrant..

This was discovered by an undercover journalist, and what they found is the IRS has claimed they have access to every single persons bank account.

This person also indicated they have been working with the Department of Justice and they have no problem whatsoever going after the little guy to make sure they are paying their taxes.

This is such a blatant violation of the fourth amendment, that Jim Jordan and I sent a letter to the IRS demanding to know what they’re doing with AI and what they’re doing to protect the rights of American citizens…

This administration is LAWLESS!”

https://rumble.com/v4rjn1o-the-irs-is-using-ai-to-access-bank-accounts-of-american-citizens-without-a-.html

🔗 ReTWEET
🧢 @Communismsurvivor X

🤔 Does he know something that we don't?

https://twitter.com/QuiverQuant/status/1783249014835601423

Have a plan 🔽🔽🔽

After Biden signed new law providing massive aid to Kyiv, Russian Ambassador Antonov tells Newsweek US "fatally balances on the brink of a direct clash between nuclear powers" https://www.newsweek.com/russia-warns-america-has-chosen-path-war-over-ukraine-1893824

A senator has exposed that "all 20" major tech corporations are conspiring to suppress content that contradicts government-approved narratives regarding election "misinformation" and "disinformation." Without open public discourse on elections, there can be no truly democratic process. Full stop.

The financial reset has already begun: "You were born to cope with these times, make sure you’re a survivor." https://www.youtube.com/watch?v=ZxwuP1XU6n8

A Russian court has ordered the seizure of JPMorgan Chase funds totalling $439.5mn a week after Kremlin-run lender VTB launched legal action against the largest US bank to recoup money stuck under Washington’s sanctions regime.

The move highlights some of the fallout western companies are feeling from the punitive measures against Moscow. It is also further evidence of the difficulties western lenders are encountering when trying to follow through with pledges to close their Russia operations since Moscow’s full-scale invasion of Ukraine in February 2022.

The seizure order, published in the Russian court register on Wednesday, targets funds in JPMorgan’s accounts and shares in its Russian subsidiaries, according to the ruling issued by the arbitration court in St Petersburg. The assets had been frozen by authorities in the wake of the western sanctions. https://www.ft.com/content/c2fc7827-fdce-458b-8416-1476208c22da

Gold

Silver today

Core inflation of the United States

Also…

TIL about the Illusory truth effect, also known as the illusion of truth effect, validity effect, truth effect, or the reiteration effect) is the tendency to believe false information to be correct after repeated exposure
https://ift.tt/Frn7K8X

The illusory truth effect (also known as the illusion of truth effect, validity effect, truth effect, or the reiteration effect) is the tendency to believe false information to be correct after repeated exposure.​[1]

…Repetition makes statements easier to process relative to new, unrepeated statements, leading people to believe that the repeated conclusion is more truthful. The illusory truth effect has also been linked to hindsight bias, in which the recollection of confidence is skewed after the truth has been received.

A country this divided cannot stand

🔽🔽🔽🔽🔽🔽

He actually said the quiet part out loud… 👀