The National Inflation Association released its food price projections on Friday.
According to their estimates, you could be paying $62 for a 32 ounce bag of sugar, while coffee could likely rise to $77.71 for 11 ounces in the coming decade. The report warns consumers that serious food inflation will be a direct cause of the Fed’s money creation policy.
Gerard Adams, the report’s author, states ‘For every economic problem the U.S. government tries to solve, it always creates two or three much larger catastrophes in the process.’. Because the value of the dollar keeps falling, the cost of basic foods will increase. Basic commodities are seriously affected by inflation and inflation is the result of the so-called ‘quantitative easing’ that the Federal Reserve is practicing. As Adams states in his report, ‘Quantitative easing is nothing more than inflation and when the Federal Reserve creates inflation, it steals from the purchasing power of the incomes and savings of all Americans.’
Currently, the average American family spends 13% of their total expenditures on food. NIA estimates that by the year 2015, that number will go as highÂ as 40%.
With this bleak projection surfacing, what are we to do in preparation? You could collect heirloom seeds, research canning and preserving of foods and container gardening. All of these skills could be very beneficial should this prediction come to pass.
What do (will) you do to keep the food prices down in your household?