Food prices soar as incomes stand still
Notice the error in the picture caption:
Some experts believe food inflation is greater than the government thinks
Here's the correction: "every non-fool knows that food inflation is higher than the government cares".
In fact, even that doesn't do justice to the economics of the Left, which is designed to reduce the herd to impervious poverty. The Hunger Games economic environment is just around the corner, with D.C. being deliriously happily wealthy, while the rest of the country degrades. And who is hurt the worst? Single mothers, children, and the already poor? Probably not: the Farm Bill just passed was only 20% farm oriented; 80% was food stamps. This attack is on the middle class. The proper term is "Stagflation", just like under Carter, but with the real inflation hidden, due to government data manipulation after the Carter years.
Some comments from instapundit:
You know who’s not concerned? President Obama, who cranks the thermostat, eats Wagyu beef, and golfs on private courses while people like Jen Singer turn the heat down and only buy bacon when it’s on sale.Not to mention takes 13 vacations per term, and maximally lavish. Some say that presidents never actually vacation. Judging from the cost of Obama's vacations, I'd say that is false.
Coincidentally, this data from Joel Kotkin:
The biggest issue facing the American economy, and our political system, is the gradual descent of the middle class into proletarian status. This process, which has been going on intermittently since the 1970s, has worsened considerably over the past five years, and threatens to turn this century into one marked by downward mobility.
The decline has less to do with the power of the “one percent” per se than with the drying up of opportunity amid what is seen on Wall Street and in the White House as a sustained recovery. Despite President Obama’s rhetorical devotion to reducing inequality, it has widened significantly under his watch. Not only did the income of the middle 60% of households drop between 2010 and 2012 while that of the top 20% rose, the income of the middle 60% declined by a greater percentage than the poorest quintile. The middle 60% of earners’ share of the national pie has fallen from 53% in 1970 to 45% in 2012.
This group, what I call the yeoman class — the small business owners, the suburban homeowners , the family farmers or skilled construction tradespeople– is increasingly endangered. Once the dominant class in America, it is clearly shrinking: In the four decades since 1971 the percentage of Americans earning between two-thirds and twice the national median income has dropped from 61% to 51% of the population, according to Pew.
Roughly one in three people born into middle class-households , those between the 30th and 70th percentiles of income, now fall out of that status as adults.