-- steak, for instance -- consumers will switch to a cheaper substitute -- say, chicken -- thereby spending the same amount for food.
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Switching to a lower priced substitute should not be part of the argument for inflation figures. So what do I do when the price of gasoline go up. If I use 20 gallons a week I still need twenty gallons for next week. Whats the substitute for gasoline. OHH o'k instead of steak I will buy chicken to compensate for gas increase.
You can only do substitute once or twice before there is no substitute for your living needs.
They think we are stupid out here. OHH that is right, they do.

While Barry flies Air Force One to NYC for Kobe Beef with his wife.
Yeah, that's ok, Barry, we'll eat chicken. Hell, I eat squirrel now.