Food Stamp Cuts: Families Will Face Tough Choices

[Max E.]

Quote from Ricter:

The data I presented is cost over income. So if costs are higher... you do the math.
Edit: perhaps I should have said "more affordable".

As for food stamp usage, yes, I'm aware that we have too much inequality in this country.

average income is down over the last 4 years while average food price is up, are you dense? how could you say food has never been more affordable?

 

[Tsing Tao]

Quote from Max E. Pad:

average income is down over the last 4 years while average food price is up, are you dense? how could you say food has never been more affordable?

He's pulling from an article that compares the growth from 1913 (LOL) to now in prices and wages. It's relevancy to current generational data is like comparing the average temperature in Florida 50 years ago to the average temperature on Saturn today.

But what do you expect? Liberal math is always intended to be convenient.

 

[Ricter]

Quote from Tsing Tao:

He's pulling from an article that compares the growth from 1913 (LOL)

And I have posted food expenditure as a percent of total household expenditure for a century as well. I would think you'd be satisfied to see such a long series.

 

[Max E.]

Quote from Tsing Tao:

He's pulling from an article that compares the growth from 1913 (LOL) to now in prices and wages. It's relevancy to current generational data is like comparing the average temperature in Florida 50 years ago to the average temperature on Saturn today.

But what do you expect? Liberal math is always intended to be convenient.

 

[Ricter]

Quote from Max E. Pad:

average income is down over the last 4 years while average food price is up, are you dense? how could you say food has never been more affordable?

You're looking at ticks now.

This is one way I can say it:

http://www.elitetrader.com/vb/showthread.php?s=&postid=3889413&highlight=food#post3889413

 

[Ricter]

Food as a Share of Consumer’s Budget

"U.S. consumers have seen their “well-being” improve substantially over the past 80 years (Figure 4) as measured by both food budget share and real disposable personal income (DPI) per capita. However, these national averages ignore any potential income distribution issues. "

More>>
Page 8, 9.

 

[Tsing Tao]

Quote from Ricter:

And I have posted food expenditure as a percent of total household expenditure for a century as well. I would think you'd be satisfied to see such a long series.

Please repost the link. I have not seen it. Or if I have, I don't recall it.

 

[Ricter]

Quote from Tsing Tao:

Please repost the link. I have not seen it. Or if I have, I don't recall it.

I did, above.



<img src="http://i247.photobucket.com/albums/gg158/MDA2008/MDA%202012/EggsPriceOverTime.jpg">

 

[Tsing Tao]

Quote from Ricter:

However, these national averages ignore any potential income distribution issues. "

Aaah, there's the rub. Include the sliver of people who's income is growing absurdly in your number, and suddenly all is affordable.

 

[Tsing Tao]

Quote from Ricter:

I did, above.



<img src="http://i247.photobucket.com/albums/gg158/MDA2008/MDA%202012/EggsPriceOverTime.jpg">

So, in your eggs example, take the price of eggs relevant to the current generation, say since 1970 or so. Overlay it with real income growth (not nominal) and then you've got a hint of where affordability is (for eggs), but even then, your real income growth is using inflation statistics provided by the BLS which was revised several times (this argument has been stated before).