Global Depression 2022 - Time to do the Breadline Boogaloo!

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Who is going to get hit the hardest?

  • North America

  • South America

  • Asia

  • Europe

  • Australia

  • Africa

  • The Middle East

  • Everyone's fucked

  • Nothing will happen

Results are only viewable after voting.
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www.foxbusiness.com

Tyson raises prices of chicken as demand shifts from expensive beef cuts

Tyson Foods reported that it had strong demand in its chicken category as well as cheaper cuts of meat, such as breakfast sausage and bacon, as grocery prices continue to rise.
www.foxbusiness.com www.foxbusiness.com

Get ready for a flat 20% markup on chicken.
 
Speaking of meat I wanted to get some deli meat to make sandwiches for the first time in a while. The price for one pound of store brand ham was $11. Said fuck that
 
Article: https://longisland.news12.com/us-wholesale-inflation-rose-more-slowly-in-july
Archive: https://archive.ph/dzFVg
Inflation at the wholesale level jumped 9.8% in July from a year earlier, a slowdown from the June pace yet still a painfully high level suggesting that rampant inflation will persist for months to come.

Thursday's report from the Labor Department also showed that on a month-to-month basis, the producer price index — which measures inflation before it reaches consumers — dropped 0.5% from June to July. That is the first decline since April 2020 and was down from a sharp 1% increase from May to June.

Falling gas and energy prices pushed down the monthly figure. Those declines suggest that retail gas prices, which have fallen steadily since mid-June, are likely to keep dropping.

The monthly decline in wholesale prices follows a government report Wednesday that showed consumer inflation was unchanged from June to July — the first flat figure after 25 straight months of increases. Measured year over year, consumer inflation rose 8.5% in July, down from June's 9.1% annual rise, which was a four-decade high. Prices in such previously white-hot categories as gas, airline tickets and hotel rooms helped slow inflation last month.

The milder inflation data, and last month's unexpectedly robust hiring that helped lower the unemployment rate to a half-century low of 3.5%, have provided President Joe Biden with some positive economic news after months of accelerating price spikes hammered his approval ratings. Congressional Republicans have made rising inflation a major line of attack in the upcoming midterm elections.

The Federal Reserve has embarked on its fastest pace of interest rate hikes since the early 1980s in an effort to quell inflation, and will likely keep raising borrowing costs for the rest of this year. Its short-term rate is currently in a range of 2.25% to 2.5%, the highest since 2018.

Chair Jerome Powell has said the Fed would need to see a series of declining inflation readings before it would consider pausing its rate increases. The Fed could announce a third straight three-quarter point rate hike when it next meets in late September or instead carry out a less drastic half-point hike.

Thursday's producer price data captures inflation at an earlier stage of production and can sometimes signal where consumer prices are headed. It also feeds into the Fed's preferred measure of inflation, which is called the personal consumption expenditures price index.
Article: https://longisland.news12.com/us-unemployment-claims-rise-by-14-000-to-262-000
Archive: https://archive.ph/stE9k
The number of Americans who signed up for unemployment benefits rose last week to the highest level since November, though the U.S. job market continues to show signs of strength.

Applications for jobless aid climbed by 14,000 to 262,000 and now have risen five out of the last six weeks, the Labor Department reported Thursday.

The four-week average for claims, which smooths out weekly ups and downs, rose by 4,500 to 252,000, also the highest since November.

Unemployment applications are a proxy for layoffs and are often seen as an early indicator of where the job market is headed.

So far this year, hiring in the United States has been remarkably strong and resilient in the face of rising interest rates and weak economic growth.

The Labor Department reported last week that U.S. employers added 528,000 jobs last month, more than double what forecasters had expected. The unemployment rate dipped to 3.5% in July, tying a 50-year low reached just before coronavirus pandemic slammed the U.S. economy in early 2020.

The United States recovered with unexpected strength from 2020's COVID-19 recession, leaving businesses scrambling to find enough workers.

But the U.S. economy faces challenges. Consumer prices have been surging, rising 8.5% in July from a year earlier — down slightly from June's 40-year high 9.1%. To combat inflation, the Federal Reserve has raised its benchmark short-term interest rate four times this year.

Higher borrowing costs have taken a toll. The economy contracted in the first half of the year — one rule of thumb for the onset of a recession. But the strength of the job market is inconsistent with an economic downturn.
 
Just checked local housing market. Prices are still insane, but have actually slid down slightly. The floor now seems to be $200k instead of $250k. Some 400-500 sq foot 100 year old shacks for $150k. Those $150k shacks would have been $50-60k 10 years ago.

More interesting is the number of homes. Almost 300 on the market now. Just an absolute explosion of listings. Contrast oh, 150 or so a year ago, and like 10-20 a year before that. Everyone's desperately trying to get out of the market now, and it's looking like Blackrock isn't mass buying houses anymore.
 
Beavis said:
Speaking of meat I wanted to get some deli meat to make sandwiches for the first time in a while. The price for one pound of store brand ham was $11. Said fuck that
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Fresh Thyme has sirloin steak for 5 dollars a pound. Stocked up on some. Same price for ribs, too.
 
I always love when people search for shit that literal cavemen figured out with no issue. It's firewood, just don't burn pine and you're fine.
 
Keystone said:
I always love when people search for shit that literal cavemen figured out with no issue. It's firewood, just don't burn pine and you're fine.
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If I tried to cut down a tree here I'd be arrested for destruction of city property and for running around with a deadly weapon. You need a loicense for that shit, mate.
 

A cash payout of 6,000 kroner was sent to around 400,000 households in Dennmark on Wednesday in a measure intended to relieve people struggling with high energy costs.

The one-off payouts, which were agreed by parliament in March, were sent on Wednesday to over 400,000 households which meet the criteria set to receive the relief.

“We hope that this outstretched hand of 6,000 kroner will be a helping hand in a difficult time for Danes who are finding it hardest of all due to increasing heating prices,” the minister for climate, energy and critical supplies, Dan Jørgensen, said in a statement.

All residents of Denmark are eligible to receive the payments, provided their household meets the relevant criteria – not just Danish nationals as could be inferred from Jørgensen’s statement.

“It was important for the parties behind this agreement to help in a way that could be felt and in a targeted way. We think this cash will make a difference,” he said.

Households with a collective pre-tax income of under 706,000 kroner are eligible for the one-off cash boosts, which are costing the government 2.4 billion kroner.

Additionally, the household should be primarily heated by individual gas heaters, electronic radiators or be located in a district heating area in which the heating is produced by at least 65 percent gas.

Eligible houses do not have to apply for the cheque and will receive the payment automatically to their designated account (Nemkonto). In households with more than one person, the oldest member of the household receives the payment.

Jørgensen said on Wednesday that the government did not expect any further cash payouts to be made to homes heated by gas. Instead, the government’s focus is to move away from dependence on gas as an energy source.

“Before the summer holidays we made a plan that ensures we phase out gas as a heating source, he said.

Lmao Norway can send more electricity and cause Norwegians pay 5 times more . Too bad the government decided to stop selling so much liberally the electricity . I guess. Firewoods will do.
 
Desu Mountain said:
If I tried to cut down a tree here I'd be arrested for destruction of city property and for running around with a deadly weapon. You need a loicense for that shit, mate.
Click to expand...

When I was in TZchermany walking zie dogs with zie girlfriend jah - I'm going to stop this shit right now - I'm not getting zie richtig effect!

When I was in Germany with my g/f at the time and walking the dogs, I remarked about how much dead wood there was in zie forest, and how easy it would be to just take it home. My g/f just looked at me with a stern and disapproving look - You cannot take zie wood, jah! I think it's why I loved her so much!

Apparently, you needed a license to take even dead wood from the forest and you would never ever cut real life trees down to take away. The fucking forest was massive. There was one bloke who had a license. He was out with his fucking wheelbarrow every morning. You'd expect him to have a smile on his face but he looked like it was just a job. Whatevs, he took away all the dead wood just lying there that no one else could. HIS NEIGHBORS HATED HIM!!!


---

Anyway, seems like we are heading towards the perfect storm. Drought declared in Bongland. The Rhine running dry in TZchermany. Heating bills (and cooling bills) going up every single fucking day in Europe - it's up at about 5200 quid right now which is almost 8 fucking thousand dollars for a month - I don't fucking think so - But this is what they are forecasting our energy bills to be in the next 6 months - I think they are fucking with us.

Anyway, the hot weather makes things more expensive energy wise. It's just as bad as having a cold winter. Freezers and fridges need to work more to maintain homeostasis (stay cool).

Now they are starting to talk about Load Shedding.



Das rite!

I mean, das ist richtig!

Alles klar yet, motherfuckers?

Just bought some junk food from the shop where I get my beers. Fucking bag was cut in half and went up 15p from 99p - that's about a fucking 15 percent hike in inflation right there. I paid 1 pound 15 pence for a bag of crisps that cost me 99p a few months ago and had double the amount in it. Cutting the bag in half means it's hiked up 100 fucking percent - doubled - yet again when you chop the bag in half. Cunts. I love my frazzles. Mmm...

It's all shaping up to be quite the start to the new decade.

Covid got played out - well they couldn't play it much further. Now it's monkeypox this and fucking marburg/ebola that. I wish a motherfucker would! I really do. That is what we need around here - a massive dose of some properly lethal disease.

Loving the summer and the hot weather. Loving the fact that the energy companies are hiking up the direct debits right now to cover future deficits 'when shit really hits fan' - thanks.

I hope we have a really cold winter like we sometimes do here in Bongland every 10 years - we are about due one now. OAP's freezing to death. You die quicker from cold and hypothermia than you do of starvation. More young girls on the game and getting their tits out on only fans. And this is what really fucking worries me: more old grannies getting their tits out and shoving them about on only fans. Don't say it won't happen, because there are some sick fucks out there.

I don't know about you fam, tbh, I feel like I just won the lottery of life: front row seats to the impending doom and soon-to-come meltdown.

Some one needs to make an OP thread about this shit real soon. It won't be much longer until we are all sucked in to the vortex and get included in the greater singularity about to come. The merge mixed with the sperge.

I can't wait.
 
MasterBaiter said:
A cash payout of 6,000 kroner was sent to around 400,000 households in Dennmark on Wednesday in a measure intended to relieve people struggling with high energy costs.
Click to expand...
They did something similar in the UK in a roundabout way by giving households a rebate on their council tax (a type of property tax). Though prices being what they are the rebate is barely enough to cover even a month's worth of bills for most households.

At this point I don't know if I should stock up on necessities or alcohol. If I buy booze at least I can be good and drunk when the shit really hits the fan.
 
They are gibing us handouts here in Bongland. Just got a few hundred quid, got a few more hundred quid to come in the next months, plus a 400 quid gibs that everyone gets. Yah, I'm poor, which is why I get the dibs.

But they need to up that again. For everyone. That money printer really needs to get going Brrrrr...

It's a double edged sword really. You got Fuel prices going up on one hand. You got Food prices going up on the other. OK, it's a triple-edged sword, coz you got Inflation going up again on top of it. Like some kind of society death spiral.
 
MasterBaiter said:
A cash payout of 6,000 kroner was sent to around 400,000 households in Dennmark on Wednesday in a measure intended to relieve people struggling with high energy costs.
Click to expand...
For people living in the civilized world, this amounts to about 820 freedom bucks. At current energy prices there, are they seriously expecting this pittance to actually help people?
 
moocow said:
For people living in the civilized world, this amounts to about 820 freedom bucks. At current energy prices there, are they seriously expecting this pittance to actually help people?
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Just buy a coat and a new blanket (not an electric blanket lol) and spend the rest on gold/silver.
 
Stasi said:
At this point I don't know if I should stock up on necessities or alcohol. If I buy booze at least I can be good and drunk when the shit really hits the fan.
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If the apocalypse comes, booze is worth more than food and you can always trade. It also keeps forever, unless it's liqueur with cream in it.
 
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