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Inflation is getting bad enough that weekly grocery haul for a family of five can easily cost hundreds of dollars. We’ve needed larger denomination bills for a while, the only reason we don’t have them is that it makes life easier for drug dealers.
I remember seeing a study that the largest holders of US cash was Russia and then Argentina. Neither are drug dealers and both have legitimate reasons to hold dollars. I think this was not state actors but individuals so even if Russia bad actual Russians are holding dollars for different reasons.
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Groceries have gone up, but every time I see people on the internet quoting some ludicrous grocery budget for a small family it always turns out to be 'well we eat ribeyes and lobster for our meals, drink cokes instead of water and need enough oreos to snack on'. Normal staples just don't cost that much.
A paper bag of general groceries (some meat, some produce, some dairy, some canned good maybe a bag of coffee or something etc) peaked at about $50 at large brand name groceries this year.
It dropped to about $40, but is back near that again with recent price increases post the energy price increases.
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It's true that my food budget is higher than it needs to be, but also true that it's been going up without my changing my purchasing habits.
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Beef is undeniably high. And yeah beef consumption in America was not always as high as it is currently, but it's not a rebuttal to claims of inflation to say "well maybe we should return to humbler lifestyles." In fact that's a concession with finger-wagging attached.
Yes beef is high, but nobody ever thought eating steak very often was a reasonable expectation for normal people.
Steak no, but pot roast or ground beef? Those were staples for my family growing up, and we were not well-to-do.
Just looking at my own grocery bill, the prices of a lot of common staples like beans, eggs, rice, milk, flour, ground beef, etc... have all gone up 100-200% in the last 10 years and my gross income has not.
When my eldest was first starting to eat solid food a log of ground beef typically went for around $2.50/lb, today I feel lucky if I can find it for $6.
Chuck roast used to be around $4/lb. pre-Covid, and now I'm lucky if I can find it for $10/lb. on sale
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Roast tough cuts and stew meat should be though.
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The problem is even ground beef is ridiculously expensive now.
M impression is that it isn't necessarily more expensive relative to incomes than in the past (well, it is compared to the immediately pre-Covid past, but the generational past), but more that we've been sold a story of getting richer, and are not richer relative to the price of ground beef.
The price of ground beef really has significantly gone up, even in the last three years. The average income hasn't anywhere near as much.
Yes, that's why I said that it was worse than seven years ago.
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