It is no wonder that food and fuel are not allowed to be on the inflation list. If they were all would have a better handle on why it costs so much to live right now while the government says that inflation is so low.
Ground beef has risen 76% in the past five years. Now, this is the cheapest cut of beef that can be purchased. Oxtails once the lowliest of food is nearly $5.00 a pound, a choice rib-eye (not prime) is around $14.00 a pound.
Four month old calves are selling for around $500.00, while two years ago they were $300.00.
All dairy products from milk to yogurt will soar dramatically.
Milk averages $3.69 a gallon.
Much of this is caused by the drought which will caused and will cause the wheat and corn failures the past two years. Feed for cattle became so expensive that ranchers and dairy farmers sold most of their cattle.
Currently the American cattle herd is barely above the numbers of 1951. This is 63 years ago and now we have 70,000,000 more people.
Oil price is on the increase and we can see gasoline getting near the $4.00 a gallon (but California is way above that now). Obama administration should take all of the credit for the economic recovery.
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