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I was just talking to a friend about this. As we get squeezed with money we are switching to the cheapest products out there and not buying anything but essentials.
First.
The inflation-adjusters will love this! You know, dog food and prime rib are both "meat." And living in a shack counts as "shelter." I also suppose switching from prescribed medication to alcohol to numb the pain is also a way to "prove" that prices are not skyrocketing.
Nope, no inflation here! Keep on loading up on debt and leverage! Be a good consumer and consume!
Inferior goods?
Are people buying US Dollars now?
Oops, you said inferior, not worthless. My bad.
I'd like to go on record stating that store brand private-label foods are often just as good--if not better--than brand name foods.
Note: I understand that they can still be "inferior" goods, as per the economics definition, but it just goes to show how brainwashed the masses are!
Just an observation but I sense the hoarding has begun. I've seen more families walking out of Walmart with 2 overflowing carts. I also remember my Mom with 30 5 lb bags of sugar in her cupboard in the early 70's. Needless to say, that sugar lasted a long long time!
safe_as_apartments, I definitely meant inferior in the economic sense - sales rise during tough times.
I think some inferior goods (like Spam) are inferior in every way.
Best Wishes.
The price of an instant hot water dispenser that I need to replace went up $60 (~30%) since last Friday. I expect that we'll see a lot more of this effective July 1.
What about superior goods (i.e. flip-flops, hooded sweatshirts, pocket knives, etc.) Goods that are consumed regardless of income level!
Ok back on topic
I posted this on the last thread but i got lost with the politco talk and its more applicable here:
..........................
More pain in retail:
J.C. Penney Co. said it will further cut planned new-store opening and renovations as it reduces planned capital expenditures for 2009 by 35% from this year's levels, and focuses on "rigorously controlling" inventory levels and operating expenses.
WSJ Error Page - WSJ.com SB...=googlenews_wsj
I think some inferior goods (like Spam) are inferior in every way.
You take that back, CR - or I'm never coming back here again!
shoot, article didnt post:
J.C. Penney Scales Back Plans for New Stores in '09 - WSJ.com
Some grocery chains (e.g. Save-A-Lot) only sell their own house brands (with an occasional name brand thrown in here and there). Their brand is likely made on the same assembly line as some of the name brands are. Part of the economic difference is that they don't do the heavy advertising (and coupons) that the name brands do.
I've learned that Maxwell House Columbian tastes nearly as good as my organic, bird friendly, gathered-by-villagers coffee and at a third of the price!
I've been buying store brands since nineteen tickety two. My father used to sell to food factories and saw the store brands and name brands coming off the same line at the same time.
Would lottery tickets be inferior?
"People are takin' that chance, trying to get out of the hole in one shot," Boulware said.
Charlotte.com
I'm still long Campbells; some folks will still buy the name, but in place of the upper cost items, like steak and such.
"Would lottery tickets be inferior?"
Depends. Are they winning or losing?
"I also remember my Mom with 30 5 lb bags of sugar in her cupboard in the early 70's. Needless to say, that sugar lasted a long long time!"
Was there some sort of sugar shortage in the 70s? I vaguely remember going out to a buffet dinner with some neighbors back in the 70s, and the neighbor's mother stashing away fried chicken and sugar packs in her purse. My mom (a former WWII refuge, btw) was so embarassed. I don't think we ever went out to dinner with them twice.
"I've been buying store brands since nineteen tickety two. My father used to sell to food factories and saw the store brands and name brands coming off the same line at the same time."
That's right. When you buy store brand, you usually get the same stuff and deny name-brand corporate America of its extra profit.
I buy Walgreens toothpaste that says on the side that it's equivalent to a particular brand of Crest toothpaste. Probably made on the same line, but different shifts. Same for razor blades.
Time to haul out the famous spam haikus...
Now a substitution effect isn't an unreasonable thing to include in a CPI index (although it can be argued that the proper way to do so is to change the basket of goods, not to change the calculations). I'm not a fan of "hedonic" adjustments, although there is no doubt that my $1200.00 PC is many times better than the $3200.00 Apple IIgs I had in 1990, as well as being cheaper.
Thing is, substitution effects to store brands, etc. are really purely psychological, and aren't a substitution at all in any meaningful sense. (Kroger brand tuna comes from the Starkist factory (or whatever major brand they hired) it just goes out the back door).
So while they're evidence of economic stress, they don't really say anything about the price of the products or the price level per se.
People buy more store brands in tough times regardless of inflation.
I know, for awhile, I did find myself eating more Gel-O vs. Jello and drinking more BEER vs. Natty Lite. It goes down the same, but, I cannot say it comes out the same. So, I quit doing that. I don't think saving that extra $1.42 is worth it.
Elvis: With beer brand matters. I can tell Magic Hat from Bud, but not store brand tuna from Starkist. But Jello? Ewww.
More anecdotal evidence: I hear the Emperor's Club VIP now has two-diamond and one-diamond offerings.
Yes, and also a shift of some restaurant spending into groceries.
I guess we should give Kroger the benefit of the doubt they accounted for all the rebate gift cards in a kosher way, by not booking them as revenues until actually spent. But who knows??
Not to mention Cheez™ versus cheese.
And business is booming for $9.99 hookers.
Nemo: Our new governor is a simple man of the people.
All conglomerates are raising prices. DOW chemicals raising prices across the board is going to be nasty for everyone.
Trickle down in processed products as well as direct price increases for the consumers.
Foodstuffs have gone up, latest trips to supermarket have been much more costly, we have made minor switches to inerior products but it is rare. Food is important to me!
This year is going to be an eye opener.
Mu guess is that deer hunting will regain popularity in the coming years, and carp will be a food staple.
Elvis:
Don't forget about "victory" gardens. And that's why they were the greatest generation.
With Real Estate in the toilet and the consumer credit drying up, the amount of strippers in the market is expanding rapidly and they are getting pretty hungry.
Wait until they are scratching around in the dirt looking for bugs to eat. That's when you know we have a real problem.
I'm switching to generic Spam.
"But, Mommy, I don't want to wear moccasins and and a hide pants to school. Everyone keeps call me Jeramiah Johnson."
"Well, Billy, at least you don't have to wear carp scale panties and a bra weaved from yucca."
"OK. You got me there. I'll stop complaining. Can I gnaw on this rat carcass or is it dinner?"
oka,
now that's funny!
The phenomenon is also quite evident from a recent visit to Walmart: Malt-o-meal or generic cereal brands were outselling Kellogs and Post brands. There was only 1 bag of generic "Fruit Loops" available!
stuck_in_reverse: This year is going to be an eye opener.
Not to worry, so long as wages aren't rising... then the Fed might start getting worried!
Generic Spam? Anything else your highness? What we wouldn't have given to be able to afford generic Spam...
Ask not who the spam is for, for the spam is for you.
I prefer organic Spam from Whole-lotta Bucks Foods
As a young man I was a printer of food packaging. Dry goods name brands (pasta) are the same product. Wet goods (pasta sauce) have more water added, and a little more sweetener (as example) to allow for some taste difference and perception of difference (for brand protection).
Factories would order a run of name brand and store brands together.
RIMM and ORCL both laid an egg, the Nas will be down tommorow...
andy in NZ writes:
Factories would order a run of name brand and store brands together.
Agreed. Suckers we are for buying branded spam.
BTW I am not going to buy single ply toilet paper, sorry won't substitute to that inferior good. May steal it from my employer.
What is the economic definition of that? Unemployment....
Kroger does have a highly developed store brand in many categories and also does good deals/promotions. Kroger had a program this spring that added an extra 10% to the value of a Kroger gift card purchased with a tax rebate check. Shoppers had to exchange their tax refund or tax check for gift cards in multiples of $300 (such that a $300 rebate gets them a $330 Kroger gift card). This program is still in effect through July I believe.
Man, I tried for six years to be a printer of food packaging. Everytime, they would say, "Sorry, son, you don't have the "look." And I would say, "Oh, come on. I've got the look you want to know better. I've got the look that is all together. Working. Playing. Day or night. I've got the look that is right." Then, they would throw me out. Worked out okay, because, eventually I got a job as speed bump at the city parking garage. Gov't hours are the best.
The people who died in Jonestown, Guyana in 1978 did not really drink the brand-name Kool-Aid, but the inferior Flav-R-Aid.
And it was Cy-O-Nide.
TVP tastes great with spaghetti, and lasts for a long time in shelves. I still have some left from my recent visit in Asia about 3 years ago.
Re: On the same store sales increase of 5.5% - isn't that just related to higher prices for food products?
That is what I'd say, i.e, higher oil prices and lower dollar value increases inflation and although sales are adjusted higher, it's an inflation adjustment and not a profit increase; however, it does increase EPS and EPS loves inflation as fuel which is why Bernanke loves inflation, because it makes growth look sustainable, while decline sets in.
OK how long until we get a Soylent Green joke?
I think some inferior goods (like Spam) are inferior in every way.
What? Spam is very tasty when sliced thin and fried. Seriously.
Elvis
I quit printing and traded up to speed bump. Bloody low wage economy...
TVP and soy products are not good for you in terms of bioavailable nutrition.
Phytate in soy formula in addition to the absence of lactose diminish the absorption of divalent cations such as iron, calcium and zinc in the intestinal lume
Hey, Ahead of the Curve and I agree on something.
I used to work in a food production facilities. The same production equipment and ingredients were used to produce both the brand name and the store brand stuff. Usually as simple as just changing the packaging.
They call it "co-packing". Great way to fill excess capacity.
The real joke is that, for the most part, all of it is crap and if you saw how your food was manufactured, you would stop eating.
If you could ever get a camera into the facility where they make A1, it would decimate the steak sauce industry.
but then again, my passat looks a whole like like the Audi that costs $10K more. I've always considered it a Store Brand Audi.
What about this idea? Yum!
Jonathan Swift - A Modest Proposal
I'll believe it when I see people stop buying Gatorade, Cokes, and such and start drinking plain tap water.
Massive fraud Janet Tavakola might have been posted 6 min vid
SqueezePlay
Are you sure that wasn't written by Mike Tyson?
Wait until they are scratching around in the dirt looking for bugs to eat. That's when you know we have a real problem.
You don't get a revolt (or revolution) if people have a roof over their head and food on the table. Take both of those items away and watch out.
Foreclosures are threatening one, and high fuel/food prices are screwing with the other.
"Kroger has probably gained customers from independent grocers and restaurants as more people eat meals at home, Dillon said."
I, too, tend to believe Kroger probably did gain share over this time period. The reason is - from studying shoppers they can reduce their spend up to about 25% in grocery when push comes to shove -- by choosing inferior brands and cooking from scratch more. So I don't think its all a wash due to inflation that same store sales are up 5% at the same time that category level sales data shows growth in store brand. In fact, I think this performance beats Wal-Mart.
Actually, I suspect that real store sales are up, as consumers switch from the "superior" goods of restaurants to the "inferior" goods of grocery stores (superior/inferior technical terms, of course; if the switch is from McD's to home cooked, it's actually an improvement.)
I can also confirm that store brands are made at the same location as name brands; back when I worked at the food factory (ahh, those were the days), we'd produce both on the same lines. Quality standards for contracted production wasn't as high as for our own brands, however. And there are a few brands that are truly exclusive--Ben & Jerry's comes to mind, as far as I am aware they do not do store brand production at their facilities.
I hope Ray is right. I am stocking up on pitchforks and have printed out several thousand t-shirts that say "To the castle!" After the castle is stormed, we will soak the T-shirts in kerosene and begin the burning, looting, and pillaging.
Well I find that store brands are often inferior in reality to name brands, no doubt about it. There may be some rare exceptions, but they are just that...exceptions. This is another indication of the drop in the US standard of living...inevitable given the economic pressures that have built up. Chinese loans and cheap imports kept up the living standards for years, but this effect is waning.
I've noticed a sharp rise in people naming their children Generic, Scotch Buy, and Baby. I think the trend for inferior goods has moved to wanting inferior people. It is just plain weird, if you ask me.
I guess Aaa is an inferior good now.
This is an example of Hedonic Adjustments for the CPI calculation. No wonder we only have 2.6% inflation.
Ralphs' shoppers shifting to store-branded products is quite a bit skewed: consumers have been flocking to organic products, and Ralphs has a relatively new store-brand organic line, and has been expanding it rapidly. It is a huge success. It has greatly expanded the range of available organic items at Ralphs.
Sometimes store brands are a match for name brands. Sometimes not. I'm perfectly happy with my store brand instant coffee. But the store brand raisin brans I've tried have been awful. YMWV
Food and beverage inflation has been 5% over the past 12 months so yes, this is basically just higher prices.
Elvis,
You got it backwards. One does not burn, loot and pillage. Every good Viking knows it's loot, pillage THEN burn.
Get it right next time.
Fair Economist,
I agree. It depends. Store brand bread, tp, paper towels...no way.
But I'm thinking that I may have to switch out of Corona light. $9.00 a six pack is outa control.
Cheers,
"I think some inferior goods (like Spam) are inferior in every way."
I hear the Del Mar Fair has it deep fried this summer.
There is this trade group called the Private Label Trade Association or something along that line (too lazy to look it up). Several years ago they did a blind taste test to see if consumers really could discern a difference between private label/store brand items and national brands. They did this for categories like coffee, cereal, cookies, pizza, salad dressing, wine and so forth. On average, across all the categories, participants in the blind taste test failed to rate national brands better than store brand - the foods came in the same, on average. Of course one of the reasons the private label association spent money on this research was to argue that stores ought to raise the price on their store brand items, that they were leaving money on the table. And why would the private label trade group want to argue that? Because as some of the other bloggers have just pointed out, the manufacturers of store brands (and funding the trade group) are also manufacturers of national brands. So as manufacturers lose share on their national brands, they would hope to maximize revenues on their store brands or drive consumers back to national. It is an oligarchy of sorts.
Well, I like Spam. When you grew up thinking fried bologna was a treat Spam was just a better cut of meat.
The Safeway near our house is getting a security guard. Why? Because food shoplifting is getting out of control.
Deer meat? My BIL feeds the family on it. He hunts bow, black powder, and gun. Oh, in West Virginia road kill is ok to eat if you it is consumed within 24 hours.
Guns an ammo are going to go up.
All the horses that the US sends to Canada for slaughter may be coming back... in a can..................
More butter please.........
Nova,
"When you grew up thinking fried bologna was a treat"
It isn't? I rather like it. Just not good for you. Mom used to cut it up and fry it with onions. Good stuff.
Cheers,
I had a client in the jeans business some years ago. He told me the expensive and cheap jeans are made of the same fabric in the same factories. Sometimes the cut was a little different, but basically you'd be paying lots of extra money for a label. I assume that is still true.
Ahead of the Curve - True to your Name, a Magic Hat drinker!
I am moving to inferior goods as well. I read couple of Ubernerds posts from Tanta this morning instead of CR's short summaries.
OT: to rich & other RUT shorters,
Do you notice a beautiful (slanted) head and shoulders on a daily chart, formed over the last six weeks? Its neck to head is 60 RUT points, projecting a decline to their lows. Volume is confirming.
A Bit OT
But related to the economy at least here in OC. Last Friday the wife and I had an early am Flight from John Wayne (7 am) and I told her, based on my past experience and comments by other airline commuters, that in the am the security line at John Wayne can easily last 45 minutes to more than an hour so we had to wake up and leave early.
The wife was not happy. When we got to the airport, there was no line at all. Now instead of getting mad, my wife approached the TSA guy and asked if this was normal.
He said 3 to 6 months ago I would have been right. But in the last 3 to 6 months, volumne at John Wayne has gone from more than 17,000 passengers a day to about 9,000! Half reduction in less than 6 months.
Anyone who wants to still try to claim OC is not in a recession -- well may I suggest you check out the airport as an indication of reality.
12th Percentile:
I went on a school field trip as a child to the Frito-Lay plant. It took me about 5 years before I could eat Fritos again.
Generic Spam is called Spew (for obvious reasons).
just to reinforce the comments up-line about brand quality, I work in a food factory and I can assure you the brand name stuff and the generic store brand stuff still come off the same lines using the same ingredients, cooked in the same equipment. Only the packaging in different.
And Spam is and always will be a superior good and good for you...so there.!
--
OT...
Wednesday June 25, 2008
C.A.R. reports sales increased 18.1 percent; median home price fell 35.3 percent in May
LOS ANGELES (June 25) Home sales increased 18.1 percent in May in California compared with the same period a year ago, while the median price of an existing home fell 35.3 percent, the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.) reported today.
Home sales exceeded 400,000 last month for the first time since early 2007. While this is a welcome sign for the market, it was due in part to the large share of distressed homes for sale in many parts of the state, said C.A.R. President William E. Brown. Sales also rose above their year ago levels for the second month in a row after 30 consecutive months of year-to-year decreases. The lower prices associated with distressed sales along with favorable interest rates both contributed to higher sales levels.
Closed escrow sales of existing, single-family detached homes in California totaled 423,700 in May at a seasonally adjusted annualized rate, according to information collected by C.A.R. from more than 90 local REALTOR® associations statewide. Statewide home resale activity increased 18.1 percent from the revised 358,640 sales pace recorded in May 2007.
...
Page Not Found!
Jas
Used sign from now closed mortgage office hanging in grocery aisle with store-brands: "Affordability Products"
Sorry to rain on your parade jas, but this tread is devoted to the delights of Spam and generic beer. House prices will have to go on the other thread.
Spam fried in brown sugar, now there is a toothsome dinner.
Bllleccchhhh!!!
Thanks Jas!
mal writes:
I think some inferior goods (like Spam) are inferior in every way.
What? Spam is very tasty when sliced thin and fried. Seriously.
Mal: Do not eat fried spam when you are hung over unless you are out of laxatives.
.
I'd like to think I played a small part in K-Rogers success.
The 10% giveaway didn't just apply to Gov't rebate checks buying the g-cards; anyone buying gift cards could get that additional 10% added on to them.
I bought $600 worth of giftcards several weeks back and will probably load up again before the deal expires.
$60 bucks in free groceries is hard to pass up, plus they have great deals. (especially their "inferior" brands)
What is the difference b/w deviled ham and Spam anyway? Is it like the difference b/n hotdogs and creamy hotdogs in a blender?
in the last 3 to 6 months, volume at John Wayne has gone from more than 17,000 passengers a day to about 9,000!
I've always found John Wayne expensive to fly to/from, perhaps folks are substituting LAX & SAN(esp them as you can train it to the airport)
Has anyone tried Spam & TVP fried with chopped onions and tater tots?
crispy and jas made for each other. lovely.
anyhoo
i think this substitution effect is a good example of why what we are facing today aint your grandfather's inflation. its demand driven price signaling.
inflation is when i'm paying more for the same thing just because i have more money in my pocket.
the cost of things going up because more people want it (energy) and its impact on everything else aint inflation. its a signal to find new/different/more energy.
and that in a nutshell is why there wont be no rate hikes for a looooooooong time
Re: creamy hotdogs in a blender
I'm headed to the fridge!
"now there is a toothsome dinner."
toothsome defined: "a palatable solution to the problem"
other jim, you and i don't have the same solution to the problem.
"Has anyone tried Spam & TVP fried with chopped onions and tater tots?"
Many, many years ago, minus the TVP. Mom had her odd moments in the kitchen; but even my 15-year-old stomach knew that this was just -- wrong.
I never thought of frying TVP -- won't it just change back into little briquettes?
Talk about inferior goods I just racked my first attempt at apricot wine.
Re: " bra weaved from yucca"
Whatever happened to clam shells?
ow here is something weird.
luckily for me, my income has actually gone up over the last two years along with its security.
but because we're in a 'recession' i'm much more mindful of what i buy.
for example:
instead of just buying t-bones for dinner, i'll buy whatever is in the 30% off 'must-sell-today' section of the meat department. its lead to some nice diversity in what we eat, lamb one day, chicken the next, different cuts, whatever.
point is, that i think whats happening irrespective of a 'recession' is that consumption for consumption's sake is losing its appeal.
we're headed to more conservative era in all ways and even those who have the means shall conserve because its the thing to do.
lucky me, conserving cuz its hip and not cuz i'm broke.
dc1000 - Are we still closer to the end?
oh yonder stands blue mountain
oh yonder stands my home
where the blueberries are a'bloomin'
I'm gonna make some blueberry wine
if I ever ride again
I'm riding back to my blueberry land
well I'm riding back to my blueberry land
~Michael Hurley
lucky me, conserving cuz its hip and not cuz i'm broke.
dc1000
If it is hip count me out. I'm going into wasteful mode.
Re: creamy hotdogs in a blender
The blender is The Great American Equalizer, everyone should have a Homogenator (looks like homo, but don't worry one way or another), i.e, homogeneous foods, e.g, as many may recall in this fine video, anything is possible. Ok two clips:
YouTube - Will It Blend? - Golf Balls
ahh crispy the troll i met back on ben's blog years ago.
of course we are. the beginning was back with the repeal of glass stegal. and in fact, the beginning was really back at post WWII with Bretton Woods. So yeah, we're probably 90% through the snake. Its just this where the fall-out is.
it takes a lot of time to build up to this situation. Social, economic, political and cultural factors all lead to this and that took time to get here.
the blow off period is short relatively even if it takes 5 years
Anybody want to go to a buffet and throw food on the floor, because we can?
Worked in a pasta factory in upstate NY during high school. I was stationed with a paint brush with glue to catch any cover not fully closed as it came down the line. Sometimes hardened bits of glue fell into the boxes since the line moved Lucy Ricardo fast.
But, whether name brand or generic, no extra charge for the glue bits. The bits looked like broken pieces of pasta you find at the bottom of the box.
fried,
That must be the reason I prefer Elmer's glue over my spaghetti rather than Ragu. I can sleep better at night now. Thank you.
dc1000 said: "...point is, that i think whats happening irrespective of a 'recession' is that consumption for consumption's sake is losing its appeal.
we're headed to more conservative era in all ways and even those who have the means shall conserve because its the thing to do."
I, too, am making more money than ever with more security, yet I'm using it to pay down debt, delaying significant new spending and continuing to be relatively frugal with my normal spending.
Judging by how the economy is reacting, it appears as though this new "virtuous spending" phase is simply slowing things down a bit and not bringing everything to a crashing halt.
Don't need a recession or depression to chastise people if a lesser slowdown accomplishes the same thing.
Sebastia
of course we are.
Where is the fear? All I can find is complacency! Unfreakingbelievable.
Don't need a recession or depression to chastise people if a lesser slowdown accomplishes the same thing.
Sebastian
"If" is an abused word...
Beer 30. What about the price of cheap beer?
When beer gets too expensive, I will replace my brand wearing children with brand flavored beer. Priorities.
i've found the best cheap beers are the ones brewed locally, but yet en masse.
for me, thats Dominion.
I prefer the malt liquor, because it gets you there quicker.
wilson writes:
Ahead of the Curve - True to your Name, a Magic Hat drinker!
wilson | 06.25.08 - 6:28 pm | #
Yes, I've drunk enough of them to have gotten 2 T-shirts by finding the magic bottle caps. Even visited the brewery last summer in Burlington. Fun place.
"the troll i met back on ben's blog years ago"
I am not the one who was run out of town...
By "there," I mean passed out in the alley behind a tattoo parlor with a portrait of "Dogs Playing Croquet" blazened across my back.
On topic - Talk about substitution:
Low Mexican Gas Prices Draw Americans
Low Mexican Gasoline Prices Draw Americans Across the Border - NY Times
(I need to learn how to permalink)
El Pasoan desperation shows in the leathery face of Jimmy Gann, 57. Mr. Ganns employer, a family trucking business, is on the verge of bankruptcy, he said, and to help the owners stay afloat, he makes three 32-mile round-trip sprints across the border each day. Once here, he fills a 100-gallon tank with diesel which is going for $2.20 a gallon on this side, compared with $4.55 on the other then returns north, unloads the tank at his employers business and does it all over again.
One Texan in the trucking industry, who declined to give his name for fear of being prosecuted for tax evasion, said he saved $12,000 a month by fueling his four-truck fleet in Mexico.
It's like deja vu all over again. Dint we do this thread a coupla-three weeks ago?
The reason I ask is I seem to remember salivating about all the SPAM talk only recently.
OA [obligatory anecdote]
My Dad used to work in a paint plant that sold to Sears. There were three grades, the $5/gal. paint; the $10/gal. paint; and the deluxe $15/gal. paint.
They all came out of the same spigot.
Bookmark this site: Ancient Recipes - Ancient Recipes
Stinging nettle pudding? All I can say is that nettle cheese and nettle bread were hot items the last two weeks at the Yuppie farmer's market that just started up near me.
Tonight I had a genuine Stone Age dish, a kind of very eggy pancake with Swiss chard folded in. Quite good, actually, topped with a tablespoon of plain yogurt.
I've never tasted mead - have any of you? Any good?
When I was a kid (we wuz po'), we thought it was a real treat when mom made mac & cheese (generic) with spam chunks mixed in.
I'm 45 now, and I got two stents in my heart in March...
Elvis writes:
By "there," I mean passed out in the alley behind a tattoo parlor with a portrait of "Dogs Playing Croquet" blazened across my back.
Elvis | 06.25.08 - 7:44 pm | #
Damn - you too?
I've never tasted mead - have any of you? Any good?
Sue | 06.25.08 - 9:08 pm | #
Yes - had some at a renaissance festival - tastes fine & as Elvis says 'gets you there quick'...
My Dad used to work in a paint plant that sold to Sears. There were three grades, the $5/gal. paint; the $10/gal. paint; and the deluxe $15/gal. paint.
They all came out of the same spigot.
The solids (how much pigment & TiO per unit volume) might vary - that is easy to do & still have it come out the same 'spigot' - its not a machine thing but a blend thing... how much solvent & pigment.
I used to work as a Chem Eng & we did those kinds of things though I never worked in a paint plant I know folks who did. 'Blending'.
Same applies to all the food plant comments above - I worked in them too - just because it comes from the same factory & the same 'line' doesn't mean its the same - these plants can change processing pretty easily. The operators wouldn't know either - its in the controls & process spec sheets.
I'm not saying generic aren't sometimes the same, better or worse - it all depends and unless you are privy to the process data - you won't know. Just sayin'...
I'll see your two stents and raise you three.
Since I arrived in US around three years ago, I was never able to understand why people ever buy brand goods if the same thing is available cheaper as store-brand? Why buy Sudafed(R), if the drug with exactly the same combination of active ingridients is also sold 30% cheaper as Safeway brand? Same with most things, from milk to plasma TVs. Could someone explain?
And we're not low income family - we definitely fit into "more than 100K" category. In fact, "much more than".
"just because it comes from the same factory & the same 'line' doesn't mean its the same"
Dryfly,
I can vouch for the fact that the glue never varied...Whatever box came down the line, the glue that covered my hands and the paint brush came from the same pot.
Were all wm now. I'll strave to death before I shop there.
jo6pac
its gotta sell.
thats the function of the black box theory.
sell when wrong. but it must employ long strategy...always buying long dated calls, and raises money by selling deep in the money calls?
Sadly, many of the generic brands are no longer inferior. Taking out advertising costs leaves plenty of wiggle room to provide a higher quality product for less.
Here is a question for you guys, how many of the people switching down need to vs. being driven by a psychological shift?
I am in the food ingredient business and it's true that the main difference between a store brands and national brans is the lable.
Most brand name comapanies pack the store brand lables and make the same margins on both.
re: store brands
I'm with y'all about them being same/similar to the name brands, but I draw the line at Niblets corn! No, the cheap, mushy generic stuff is not the same.
And don't get me started about fresh corn on the cob...it has not been available in my local stores in my part of L.A. the last couple of weeks (floods? ethanol???)
Ross: People buying more in one go may indicate consolidating of shopping trips more so than hoarding. (Where by hoarding I mean largely amassing excessive quantities of stuff in expectation of shortages or supply volatility.)
OTOH I have gotten an impression that some stores have have cut delivery schedules, which is most observable with perishables or items not usually warehoused in large quantity. One item so affected is my favorite specialty bread from a local bakery a few cities away. It is now noticeably less often fresh, or altogether sold out. Unfortunately, I cannot hoard it.
Bob Dobbs: "When you buy store brand, you usually get the same stuff and deny name-brand corporate America of its extra profit."
You got it backwards -- it's price discrimination on the part of the brand name companies (provided they are actually making that store brand and it's not a knock-off).
Some store brands specifically state on the label "not made by brand name company XYZ", some don't.
On occasion I have liked the store brand better, suggesting it was indeed a different product (but maybe just a different batch).
andy in NZ: "BTW I am not going to buy single ply toilet paper, sorry won't substitute to that inferior good."
You can of course fold over some number of pieces until it's fit for your purpose. It's less a matter of plys than the strength of the paper. (If you get my drift.)
It then becomes a matter of remembering the "folding factors" and compare the "fold adjusted" price per square foot.
In practice, I have identified my preferred brand and stick with it. This is an item that can be "hoarded", and I'm usually able to buy it on sale.
Once I discovered aloe vera TP I never went back.
Wow Ross, !!!thirty!!! 5# bags of sugar, I am impressed. You guys must have been sitting pretty straight thru to the 90's.
And it makes me feel better about the five bags I bought last year.... guess I wasn't being excessive afterall!
Ya have to shop to find out which store brands and generics are of satisfactory quality - as a certified cheapskate, I discovered that decades ago.
I recommend that you try one of a particular item before loading up on it; having 47 cans of cheap whatever that you won't consume is no bargain.
Last summer, the 99 cents only store had tons of cheap pasta. Some brands were really good and some definitely inferior. We tried it out and loaded up with the good stuff - 5 for 99.
What you get with brand names is reliability -same thing every time - except for the weight. Noticed they just shaved a half ounce off a standard soap bar again - and it's hard to find a one pound package of anything these days. 14 ounces is the norm. Most stores have the price per ounce posted - very useful if you pay attention. Calculators can be helpful.
I also used to get my meat from the reduced bin - but lately I've found that sale prices are actually cheaper than reduced prices at my local Kroger. Example $11.99lb. ribeye - I have some in my freezer I got for $3.99 at the same store. Worthwhile to get the circulars and scan the ads - particularly before holidays. July 4, Labor Day, Thanksgiving, Christmas, Easter and Memorial Day are great times to stock up on meat. Be sure to rotate if you stock up. If you eat the freshest stuff first, waste is gonna cut into your savings. Also a good idea to clean out the cupboards periodically and make a box of things that aren't moving. Toss in some good canned meat and donate it to the local food bank. A lot of people are really hurting right now - and it will make room for some bargain purchases.
(Krusty voice): Whaa, so everyone's a food processing alumnus alluva sudden?
I've never tasted mead - have any of you? Any good?
Like beer, it can be somewhat of an acquired taste but I liked it after the first 2 times. It doesn't taste really like anything else--not the fruitiness of grape wines nor the hoppiness of beer. I drank a beer-bottle full of it once (my brother home-brewed a batch) and nearly passed out--it's strong stuff.
As for "inferior goods"--the savings from buying some of Sams or Costco store-brand OTC drugs or supplements can pay for the year's membership after 1 or 2 purchases.
As for store vs. name brand - you are all aware of how much processed food has certain enhancements in the flavor/aroma department? That is often the difference - and considering not only how small the amount of such additions are, how absolutely critical they are to competitive success, the fact is that the food additive business is both highly concentrated (yes, that is a pun) and highly secretive.
Which is why some products (pasta being a fine example) are essentially the same, while others are noticeably different, such as generic mac and cheese and Kraft's - the difference is not in the noodles, it is in the 'cheese.' Which one you prefer is another question, but Kraft is being state of the art technology for its 'cheese,' and the no name isn't.
Mead? - if you can stand the fact that mead clearly tastes like what it comes from, then no problem. Alcohol content is generally comparable to wine, not beer.
In Germany, 'Met' is often drank at the Christmas markets, and served hot. Not bad in the winter time, though not recommended that way for this time of year.
Argento writes:
Would lottery tickets be inferior?
"People are takin' that chance, trying to get out of the hole in one shot," Boulware said.
With the same probability of it occuring as hitting a hole in one...on a par five hole