To Fight Hyperstagflation, Greece Will Allow Sale Of Expired Food Products
by Tyler Durden
Against a deflationary environment of austerity-driven wage and pension cuts combined with rising unemployment; food, commodity, and fuel prices continue to surge in Greece. The government has taken an unusual step – allowing the sale of expired food at lower prices. As Voz Populi reports, this act means the government has ‘virtually admitted their inability to control prices” as the worst aspects of stagflation crush the Hellenic Republic. The regulation (allowing from one-week to one-month extensions of foods for sale post their eat-before-this-day-or-you’ll-get-Salmonella date) has existed for many years, according to a ministerial decree and this action merely states that these foods must be sold at a lower price. Meat and dairy is excluded but this move is described as “an immoral act” as few believe prices will actually be reduced – since that is at the discretion of the merchant. As the National Food Agency notes: “This is also a moral dilemma, to divide consumers into two groups: those who can afford basic food and those who, because of poverty, are forced to resort to dubious quality food.” We presume this will also reduce the drag on pension and healthcare costs as death rates will rise?