You can get the FRED graph here.
But, why is this happening?
Over and over, again, I’ve demonstrated huge growth in global crop production. Here’s one of the graphs I put together just last August …..
Indeed, the rate of increase for total crop production exceeds global population growth. So, it stands to reason, in the world’s bread basket, food prices should be decreasing, not increasing. But, if we look at the food price index, it’s increasing at a higher rate than our production! Why?
Well, the answer is a SNAP to understand!
It’s the same reason as why college tuition is growing at the rate it is. It is because, Uncle Sam, in his eagerness to help, has supplied money with no real oversight as to how it is spent. It’s the unlimited supply of money, backed by the full faith and credit of the US which causes the prices to soar.
Don’t get me wrong. I don’t wish to stop feeding the hungry. There should never be a hungry soul within the borders of the US. But, it is that we should go about feeding the poor in a much different fashion and manner.
You see, these solutions, this “help” is causing more harm than good.
As a father, I wanted to see all of my children attend a well regarded university. The problem was, I didn’t have an extra $100,000 laying around to ensure it happened. My funding their advanced education was out of the question. The ones who did, and are attending, have done so mostly on their own accord.
What the US is doing is pricing everything out of reach for the middle-class, causing them to be impoverished and requiring assistance to get by.
No one seems to be, or very few people are, looking at the unconscionable harm our “help” is doing to the people just getting by. They will succumb to the pricing pressures and be forced to require assistance, themselves, sooner or later.
We have to do better, be better, at solving problems, rather than just throwing money at them.