Disappearing Wealth - PhillyBlog

eldondre · #1 (**permalink**) 03-08-2008, 11:37 AM

Quote:

"Price increases are across the board; the commodities have just gone crazy," says Brett Reichler, a corporate executive chef of B.R. Guest Restaurants, owner of the Blue Water Grill. "Flour is up 30, 40%. Beef's on the rise, fish is on the rise. Nothing is inexpensive any more." Mr. Reichler watches over the lunch rush from a corner banquette on an upper floor, over the din of conversation and clinking glasses. He says his new chipotle beef roll follows a respected French tradition of turning scraps into great dishes. Preparing filet mignon is easy, he says, "but the trim has to be cleaned right, cut right, marinated. It takes a little bit more care."
High oil prices and a world-wide thirst for ethanol have triggered a run-up in corn, feed and transportation costs that is driving up food prices. Restaurant owners last year saw wholesale price increases of 7.4%, the biggest jump in nearly three decades, according to estimates by the National Restaurant Association. Consumer food prices went up 4% in 2007, according to the federal government.

http://online.wsj.com/article/SB1204...we_banner_left

GMonkey · #2 (**permalink**) 03-08-2008, 10:05 PM

I believe it! It seems that my grocery total has gone up 20% in the last few weeks!

Scientologist · #3 (**permalink**) 03-08-2008, 10:51 PM

It seems like everything's just like medication, there's always side effects! I've read that the use of grain to make bio fuel has driven up the price of food across the board.

Everything's a chain reaction.

raider.adam · #4 (**permalink**) 03-08-2008, 11:02 PM

Quote:

Originally Posted by Scientologist

It seems like everything's just like medication, there's always side effects! I've read that the use of grain to make bio fuel has driven up the price of food across the board.

Everything's a chain reaction.

Which justifies less government intervention in market economies.

gray67 · #5 (**permalink**) 03-08-2008, 11:51 PM

We need to get the government out of the subsidy business. We shouldn't be subsidizing crops of any kind. This whole myth of the family farmer is a stupid American icon that industrioagriculture uses to manipulate public policy.

The only thing worth subsidizing are TRUE alternatives to fossil fuels - and no, ethanol doesn't count. Just cause you use less oil doesn't make it a viable alternative.

Scientologist · #6 (**permalink**) 03-09-2008, 01:02 AM

Quote:

Originally Posted by raider.adam

Which justifies less government intervention in market economies.

I can't agree more, government intervention in our lives creates more harm than good. In the other thread on Scientology I'm endlessly defending little slices of information the government thinks they have on us and then releases out of context.

This being an election year it makes me wish there was a nothing party to vote for. We've had bad experiences with both.