You've got to give the media credit for continuing to find new and innovative ways to make the U.S. economy look bad.
This time an increase in Spam sales are being touted as a sign that people are suffering as they are being forced to trade in their fancy meats and poultries for something less expensive - a sign of "our times," according to "NBC Nightly News" anchor Brian Williams.
"And in what may be a huge economic indicator, this may say more about our times than we realize," Williams said on the May 29 broadcast. "Spam, the canned luncheon meat product, not the junk e-mail but, Spam sales have surged, lifting profits for the maker Hormel by 14 percent in just the first quarter of this year."
Spam sales were 10.6 percent higher in the second quarter of 2008 than the same period in 2007, according to an Associated Press article dated May 28. Its manufacturer, Hormel Foods (NYSE: HRL), has seen profits increase 14 percent. One factor contributing to the profit rise is the price of Spam, which has increased 17 cents, or nearly 7 percent, to $2.62 for a 12-ounce can. A rise in the price along with no decrease in demand has a positive impact on profits.
Williams didn't note that many fresh meats are still cheaper than Spam, which sells for about 22 cents per ounce. According to the U.S. Department of Agriculture, ground beef (15 cents), boneless hams (20 cents), most chicken (10 cents) and whole frozen turkeys (7 cents) retail for less per ounce than Spam.
"At $2.62 a can on average, Spam starts looking a little better to a lot of families who are strapped right now by the rising cost of food," Williams added.
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Is Brian Stupid or what?
May 30, 2008 - 10:04 ET by well99I dont know if anyone has a Paul's grocery in their area but I can buy ground beef for 1.58 lb on sale.Like anything else you shop smart.As posted at the bottem spam isnt cheap compared to other meats.Why is Brian overwhelmed by the rise in sales of spam?Maybe he should actually go into a grocery store.
Bullseye
May 30, 2008 - 10:18 ET by mikefiskSpam isn't that cheap... come on, if you're going to make some sort of snipe about creeping poverty, maybe try looking at tuna sales or bulk frozen chicken breasts (which, around here when they're on sale, can be well under 60 cents a pound).
All it does is highlight just how out of touch Brian Williams is, just like Obama commenting about the price of arugula. Do most of us even care?
I understand a Spam sandwich is still cheaper than eating out, but it's about the same price (or more) than pan-frying a couple of bratwurst and putting them on buns. And I don't think anyone would try getting away with calling bratwurst cheap.
News flash to NBC: Just because it's in a can and a recognized symbol of mass marketing doesn't make it cheap.
I guess there was no
May 30, 2008 - 11:32 ET by HypocriteHaterI guess there was no increase in profits for mac & cheese or ramen noodles for Brian to showcase. That's the real sign of pinching pennies. Ask most college students who don't or can't rely on Mommy or Daddy's money.
Out of touch Brian
May 30, 2008 - 11:40 ET by merlin61Again, no research by a newsman. Maybe it was
cheap during WWII, but now its kind of expensive.
Did he check the stock market the last couple of
days? Its up.
The real test of a worsening
May 30, 2008 - 18:54 ET by motherbeltThe real test of a worsening recession is: have sales of dog and cat food increased?
both
May 30, 2008 - 10:26 ET by wizardjrHe is stupid and 'or what' IMHO.
The elitist libs at NBC
May 30, 2008 - 14:48 ET by HappyHourKennedyThe elitist libs at NBC equate Spam with the lower classes, and therefore assume it to be inexpensive. They can't get their heads around the fact that some people out there (myself included) *really* like Spam.
Breaded and fried Spam cutlet, mashed potatoes, and cream corn -- one of the finest meals ever devised.
Hey, Triple H....there is
May 30, 2008 - 18:57 ET by motherbeltHey, Triple H....there is actually a national Spam recipe contest, and you would not believe some of the dishes they make with it!
We've always liked Spam
May 30, 2008 - 19:04 ET by bigtimerWe've always liked Spam too...made many a good meal with it.
Actually I quit buying it so much for many years because it got too expensive in these parts compared to other things you could buy...lol.
"Never murder your opponent when he is committing suicide." ~ W. Churchill
bt.. and now it has other applications.
May 30, 2008 - 19:23 ET by Gary Hallbt.. Yea - I practically grew up on the stuff... and now it has other applications - for when we're older. Can't believe you guys missied my funny posted earlier. (;~> gary
Wait a minute
May 30, 2008 - 15:17 ET by YahooWatcherGround beef? Not already formed into pre-made burgers? I seriously doubt that your average MSM lsitener would be be able to take the raw material all the way through the process to the finished product.
YW
May 31, 2008 - 14:50 ET by well99Your probably right.Too complicated and they didnt have a course on it at Harvard or Yale.
I have some really dumb
May 30, 2008 - 10:09 ET by KillgraveI have some really dumb questions:
Has Hormel increased the spending of advertising over the last year?
Could the massively popular Python stageshow have anything to do with it (I do know that Hormel has come out with commemorative Python editions of Spam).
It's Spam-a-licious ...
May 30, 2008 - 10:20 ET by Crash... for some folks.
Hey Brian, you're supposed to report stories, not make them up. Does it ever occur to these self-righteous prigs that people outside their lofty club set actually like Spam? There have been cookbooks written about spam. Hell I'll bet Bill Clinton grew up on Spam, pork rinds and RC Cola.
don't forget
May 30, 2008 - 10:25 ET by wizardjrHey Crash, don't forget the Moon Pies! I'm not sure if Po' Boys went that far north or not, too.
(I've got folks on the Gulf Coast and in New Orleans)
Koreans love Spam
May 30, 2008 - 17:07 ET by GrannyGrump42The first time I saw an elaborate boxed Spam gift set being hawked by beautifully coiffed Korean girls in their lovely traditional gowns, I nearly choked. But there you have it:
http://uncle.blogs.c...
The price on this one, 39,900 won, is a little over $40 US:
http://www.travelblo...
NOT cheap!
S.P.A.M. (Specially
May 30, 2008 - 17:13 ET by BlazerS.P.A.M. (Specially Processed Army Meat). Heavily salted, tough meat. This is but one instant why there is no longer a continuing genocide of kitty cat and doggy populatians over there in Southeast Asia, I applaude it.
"You will never find a more wretched hive of scum and villainy. We must be cautious. "
- Ben Kenobi on Liberals, and the MSM.
" The Cake is a lie."
Knights of the round table
May 30, 2008 - 10:46 ET by Foolican"We dine well here in Camelot, we eat ham and jam and spam a lot."
Based on the context of that verse, you can only assume that spam is a luxury food. ;-)
Spam sales are up because... (hee hee)
May 30, 2008 - 11:08 ET by Gary HallSpam sales are up because...
2. The food channel, and Cooks Magazine ran a few spots and specials on the "new spam." Emeril Live did one with master chef Sam Choy from Hawaii. Here is a recipie Bam vs Spam.
..and the number 1. reason that spam sales are up, is.. well, Viagra is awfully expensive. Who knew?
Overcome Erectile Dysfunction.
Warning: For one of them there conditions lasting longer than 4 hours, stop eating spam immediately, stop application of any additional spam, and call your shrink.
Viagra is a registered trademark of Pfizer Inc. SPAM is a registered trademark of Hormel Foods Corporation
So, when was the last time Brian Williams went grocery shopping?
May 30, 2008 - 11:19 ET by R D HelmProbably been a while, I'd say, judging from the ignorance of his segment.
We are being smothered by government in this country. - Neal Boortz
Ummm, isn't the military
May 30, 2008 - 11:27 ET by DontFeedTheTrollsUmmm, isn't the military one of the biggest buyers of spam?
D
Keep the ILLEGALS out, join NumbersUSA to send free faxes to your reps.
Aha. That must imply that
May 30, 2008 - 11:28 ET by FoolicanAha. That must imply that more young men and women are joining the military or being sent to Iraq. The economy is failing and it's all Bush's fault for starting this illegal war for oil (of which I have not seen a drop, by the way).
Yes the favortie is spam
May 30, 2008 - 11:39 ET by red_dragon311Yes the favortie is
spam spam spam spam spam baked beans spam spam spam and spam
and if the baked beans are off it's
spam spam spam spam spam spam spam spam and spam
A government big enough to give you everything you want, is strong enough to take everything you have.
-Gerald Ford
What hell's wrong with
May 30, 2008 - 11:49 ET by RESTLESS 1What hell's wrong with Spam? I like spam. It is quick, easy, and delicious. What's not to like? I consider it a treat to have some Spam. These liberals are such snobs.
"This
liberal would be all about socialize -- uh, uh, would be about
basically taking over and the government running all of your companies."-Maxine Waters 2008
Fried spam sandwich with
May 30, 2008 - 11:57 ET by red_dragon311Fried spam sandwich with veleeta cheese
really is there anything better?
A government big enough to give you everything you want, is strong enough to take everything you have.
-Gerald Ford
the beauty of it is...
May 30, 2008 - 15:35 ET by wizardjrThe beauty of it is, if you eat that all the time you're so full of preservatives they won't have to embalm you when you finally kick off. :-)
I'm sure Brian was hoping
May 30, 2008 - 13:56 ET by HypocriteHaterI'm sure Brian was hoping there'd be an increase in dog food sales eaten mostly by poor elderly people, but he must have found out dog food ain't exactly a cheap alternative to people food.
Yeah, I never got that,
May 30, 2008 - 14:59 ET by Chris NormanYeah, I never got that, until I realized a lot of it was urban legend.
»→ Really Chris
May 30, 2008 - 15:02 ET by Cool ArrowWasn't Al Gore's momma buying Iguana prescriptions or something like that?
LYDSEXICS UNTIE!
You nailed it!
May 30, 2008 - 17:10 ET by GrannyGrump42It'd be cheaper to feed the dog steak than canned food if you buy a name brand dog food.
This sounds like one of
May 30, 2008 - 11:31 ET by Free ThinkerThis sounds like one of those silly news stories you always see at the end of a local newscast. I can't believe a national "news" organization would do such an amateur story.
ok so...yea I have too......
May 30, 2008 - 11:36 ET by red_dragon311Spam Spam spam
Spam spam spam
spam spam spam
LOVELY SPAM ...WONDERFUL SPAM !!!!!
SHUT UP!!!!!!!!!!!!!!!!!!!!! ruddy vikings
A government big enough to give you everything you want, is strong enough to take everything you have.
-Gerald Ford
Could someone tell this
May 30, 2008 - 11:51 ET by RESTLESS 1Could someone tell this moron that I couldn't afford lobster and caviar (not that I would want caviar) every day when Clinton was in office. Now I probably could. The economy has been pretty good for me. I just happen to like hamburgers, ribs, and yes Spam.
"This
liberal would be all about socialize -- uh, uh, would be about
basically taking over and the government running all of your companies."-Maxine Waters 2008
Restless, obviously you're
May 30, 2008 - 12:07 ET by MassConservRestless, obviously you're mistaken. You couldn't possibly be better off now than when the honorable William Jefferson Clinton was in office.
Ahem... Sorry, I'm in a particularly sarcastic mood today. ;-)
To be fair, most of it is
May 30, 2008 - 12:11 ET by RESTLESS 1To be fair, most of it is because I have worked at the same company for that time, and moved up the ladder a bit, but we are still hiring, and have increased our number of employees during this supposedly terrible economy.
"This
liberal would be all about socialize -- uh, uh, would be about
basically taking over and the government running all of your companies."-Maxine Waters 2008
OK restless enough is too
May 30, 2008 - 12:29 ET by red_dragon311OK restless enough is too much already
"...supposedly terrible economy..."
Have you no idea George W bush is president?
how dare you imply that that the economy is not on par with the economy of Honduras.
i mean really the gall.....you sicken me
(sarc off)
A government big enough to give you everything you want, is strong enough to take everything you have.
-Gerald Ford
or, it could be
May 30, 2008 - 13:37 ET by UndercoverConservativean increase in Hawiian or Pacific islander culture immigrants who love the stuff, and have some rather tasty and elaborate spam bbq recipies and whatnot. Spam based stuff is "trendy" enough here in CA that less than 1/2 mile away is a hawiian BBQ joint that offers Spam dishes. Pretty good odds on there being plenty more in just this city alone...maybe that *might* have an effect?
BDS or it's offshoot RDS and CDS (Republican- and Conservative- Derangement Syndromes, respecitvely) is most likely at work here. *EVERYTHING* is a "sign" of the failure of Bush, the Recession, and/or the End Of Days (for the mexiphiles and their Mayan Calendar doomsday thingy)
"to call an illegal immigrant an "undocumented alien" is the same as calling a streetcorner drug dealer an "unlicensed pharmacist".
Yum!
May 30, 2008 - 14:31 ET by Crashdon't forgetMay 30, 2008 - 11:25 ET by wizardjr
"Hey Crash, don't forget the Moon Pies! I'm not sure if Po' Boys went that far north or not, too.
(I've got folks on the Gulf Coast and in New Orleans)"
Mmm ... Oyster po' boys ... beignets. New Orleans is a town only an anorexic would despise.
My broker just called
May 30, 2008 - 15:01 ET by YahooWatcherHe said, "Yahoowatcher, you should think about reducing your positions in oil, gold, and the euro and get into Hormel options."
I'm like, "Great let's do it. And get me some exposure to Campbell's Soup while you are at it."
Something to think about.
May 30, 2008 - 15:05 ET by BlazerSomething to think about. Why is someone who's supposed to make you money called a "broke" -er ?
"You will never find a more wretched hive of scum and villainy. We must be cautious. "
- Ben Kenobi on Liberals, and the MSM.
" The Cake is a lie."
Good point
May 30, 2008 - 15:07 ET by YahooWatcherI guess his PC title is "Financial Adviser."
http://spamjamhawaii.com/Default.asp
Good idea Yahoo
May 30, 2008 - 15:07 ET by Cool ArrowBut I just dumped all my 401k into guaranteed interest 2 minutes ago.
LYDSEXICS UNTIE!
Spam isn't the real news, it's a distraction.
May 30, 2008 - 15:23 ET by sarcasmoAlmost nobody talks about them, but "Credit Default Swaps" are the next financial crisis on the menu, and they're bad. By "implied ratings" the actual market thinks MBIA Inc. and Ambac Assurance Insurance are junk, even as Moodys and Standard & Poors keep them rated highly in defiance of reality.
They MUST rate the junk highly, because otherwise, via cascading defaults, everything collapses in a house of cards. You may not have ever heard of this particular arcane marketplace, but it's about $45 TRILLION vs a measly $22 TRILLION or so stock market everyone knows-about. Not easily explained to the average voter/prospective-victim, and not good...
JMR
The tax & spend drug war looks racist in the real world.
What this scandal clearly needs...
May 30, 2008 - 17:35 ET by sarcasmoIs either a nutty racist preacher (doesn't matter what color preacher, either, as we just learned) or maybe a really-hot, really-expensive prostitute. Sadly, it features nothing nearly that stimulating, and humans can't easily imagine how big a billion is, much less a trillion.
But as I read more about the potential problems, I detect immense risks, especially when it comes to these huge obligations/bets on stuff whose value is assumed by computer models. Risk like this naturally migrates to the stupid & greedy.
This won't be a total loss, but if defaults cascade it is a big mess involving many financial entities larger than Bear Stearns used to be, and it could hit the fan at any time. In an age of socialist bailouts nobody-else calls "socialist," TV viewers; rather than just a tiny minority of money-geek readers, need to be aware of the risks posed credit default swaps, and so far IMO they're not.
JMR
The tax & spend drug war looks racist in the real world.
Too salty
June 1, 2008 - 08:36 ET by VonuSpot on, look for Ambac to go bust with its AAA rating intact. The whole financial system is leveraged to the max, held together with trillions in derivatives. Look for more bad news coming soon from the big banksters, more bailouts from the socialist Federal Reserve System. Forget Spam, stock up on Emergency Food, Gold and silver.
I hope you're not right
June 1, 2008 - 08:49 ET by sarcasmoBut I think you are. And I'm thankful you noticed. I was almost ready to make essentially the same post today, but with a sexy headline like "Priests are step 1! New Catholic group advocates female POPE!" or something, just to get some attention. :)
What I don't get is how a relatively-new insurance market -- and don't get me wrong, insurance in general is a GOOD thing IMO -- can become so much more valuable than established markets so damn fast. To me it doesn't make any sense. But I'm bad with math, so I'm glad it also doesn't make sense to some people who aren't.
JMR
The tax & spend drug war looks racist in the real world.
What nonsense! You can
May 30, 2008 - 15:36 ET by NL207What nonsense! You can buy fresh pork at CostCo for about 13 cents an ounce or 59% the cost of SPAM. Why would anybody pressed for cash and trying to save money buy SPAM in preference to fresh pork? SPAM is a convenience food.
If anything this uptick in SPAM sales indicates buyers have more money to spend., not less.
Asian trendsetting
May 30, 2008 - 17:02 ET by GrannyGrump42I'd link Spam sales to increased immigration from Asia if nothing else, since Spam is so popular there that people will actually give elaborate boxed Spam gift sets as holiday gifts.
Anybody who'd buy Spam to save money suffere far greater cognative problems than financial ones.
Hawaii # 1 in spam cans /person/in USA
May 30, 2008 - 17:29 ET by upcountrywaterit's hip and cool
And you know what, it makes people HAPPY !
Liberals62%
IranianUranium
My God, is Williams f******
June 4, 2008 - 14:21 ET by Chicago RepublicanMy God, is Williams f****** serious? Do these clowns really believe there is a positive relationship between Spam consumption and Economic malaise? Am I following this correctly?
BTW - Spam is what we have for dinner on fishing trips when we get skunked. Don't diss Spam.
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