From§Each

THURSDAY, 10 SEPTEMBER 2026 — THE LATE EVENING EDITION

Food

Page K2

The Climb the menu’s prices and the chains’ share prices · January 2019 = 100 on every panel, each on its own range · dividends reinvested

The plate

90 100 110 120 130 140 150 160 170 180 190 2019 2020 2021 2022 2023 2024 2025 2026 Ground beef, a pound +81% Bread, a loaf +43% Eating out +42% Whole chicken, a pound +36% Everything +32%

The egg

100 150 200 250 300 350 400 2019 2020 2021 2022 2023 2024 2025 2026 Eggs, a dozen +41%

The shareholders

100 200 300 400 500 600 2019 2020 2021 2022 2023 2024 2025 2026 Chili's +496% Costco +373% Olive Garden +156% McDonald's +72% Applebee's -45%
The numbers
MonthEating outGround beef, a poundWhole chicken, a poundBread, a loafEverythingEggs, a dozenMcDonald'sCostcoOlive GardenChili'sApplebee's
2019-01100100100100100100100100100100100
2019-0210099101101100100104102107113130
2019-03100981009910199107113116110121
2019-04101999910110194111115113106117
2019-051011011001011018811211211294125
2019-061011001081001017711812411799127
2019-0710210010610010180119129117100109
2019-08102100103100101781241381179694
2019-0910210110110210289122135114108102
2019-101021011041041028211214010911398
2019-111021009710710290111141115114111
2019-121031029810710299113138106108113
2020-011031029610610394123144114109116
2020-0210310292108103931121339688111
2020-03104102951081029895134533141
2020-04104107107110101130108143726063
2020-05104117·111101106108146756864
2020-06105125119116102100107143746260
2020-0710511211611710290113154747064
2020-08105110109117103861251658511784
2020-09106107105117103871281689911177
2020-10106105107118103911241709011373
2020-111061061111191039312818610613089
2020-121071041101211049512618411714682
2021-011071041081211049412217211515298
2021-02107105108121104103122162136178112
2021-03107106105120105105132172140184128
2021-04108108103118106104140182146174137
2021-05108108101119106105139185142159135
2021-06109115100118107106137194145160127
2021-0711011597117108106144210146141110
2021-08110118100115108110142223151138117
2021-09111118102124108118144220152127115
2021-10112124103120110117147241145109120
2021-1111212410812111011114726513990102
2021-1211312110912011111516127815295108
2022-011141201101221121241562481428697
2022-02114122111124113129148255147110120
2022-0311512511712611413214928313599112
2022-0411512912212611416215026213594103
2022-0511612612412611518415223012879106
2022-061171291241331171741502361165794
2022-0711812912813511718916026712972103
2022-081191301281381172001542571286396
2022-091201281281371171871412331316592
2022-1012212712614211822016624814986105
2022-1112212812514511823116826615387109
2022-121221261241471182741622261448395
2023-01123126126148119310164252156102113
2023-0212412612914911927116324015098112
2023-0312512712715212022217324616398100
2023-0412512612715612021018324916110396
2023-051261301301531201721762541689588
2023-061261321331521201431852671779586
2023-0712713412815512113518227818110290
2023-081271341331551211321762731668582
2023-091281341291551221331642811538274
2023-101281381311571221331642741578874
2023-111281411341551221381772951699365
2023-1212913713315912216118633617711276
2024-0113013213516012316218435417711171
2024-0213013513215812319318537918612074
2024-0313013513515712419217837318212972
2024-0413013813315712418417236916813968
2024-0513113513715512417416441416518361
2024-0613214413615512417516243416618756
2024-0713214513515512419816942016217356
2024-0813214713515312420618445617518549
2024-0913214913415512524619545318219850
2024-1013314713515212521718744717926648
2024-1113314814115012523518949819734257
2024-1213414814015012626718646920934248
2025-0113414614015112631918650222047149
2025-0213414813915112738019853722642740
2025-0313515214014812740120248523438638
2025-0413615314015012733020751022834833
2025-0513615714014712729320353424344740
2025-0613616114214612724319050824746741
2025-0713716414114512823219548223040838
2025-0813716614114412823120448523640440
2025-0913816614014612822419947621832842
2025-10······19546920828142
2025-1113817213914012918420447020739854
2025-1213917613714412917420144421237255
2026-0113917813914512916620748423140859
2026-0214017713914513016122452124838453
2026-0314017613814213115120651422837046
2026-0414018213814713214519452323539448
2026-0514117813814413214118549423836854
2026-0614118013914213213818048324143563
2026-0714218113614313214118049224055363
2026-08······17648825359258
2026-09······17247325659655

Food: Bureau of Labor Statistics average prices and CPI, via FRED. Shares: monthly adjusted closes, dividends reinvested. Subway and Buc-ee’s are private companies and have no line. As of 6 September 2026.

§

Let Them Eat Beef

the cake line, updated · beef at the record, the herd at 1951, and the official advice is more beef · as of 25 August 2026

The bill

The service

The room

The herd takes a decade to rebuild; the post took a minute to write. Prices are projected normal in 2028 at the earliest. Dinner is scheduled nightly.

The Food Section

The TACO Timeline

TACO — Trump Always Chickens Out, the name the trading desks gave the pattern. Every documented threat that folded, oldest first: the bold vow to seize the news cycle, then the quiet retreat. A history of chaos — 47 and counting, from the country’s forty-seventh president.

  1. Apr 2017
    "NATO is obsolete," a 2016 line carried into office→ Standing beside NATO's chief: "I said it was obsolete. It's no longer obsolete."NPR
  2. Apr 2017
    Prepared to "terminate" NAFTA within days→ After calls from Mexico and Canada, agreed to renegotiate instead — it became USMCANPR
  3. Dec 2018
    Ordered a "full" and "rapid" withdrawal of all ~2,000 US troops from Syria, declaring ISIS defeated→ Reversed within days after backlash and Mattis's resignation; troops stayed, drawn down only to ~900BBC
  4. 2018–19
    Forced the longest government shutdown in US history demanding $5.7B for the border wall, vowing not to reopen without it→ Signed a bill reopening the government with no wall money — the same deal he had already rejectedNBC News
  5. 2017–19
    Warned North Korea that continued threats would be met "with fire and fury," mocking Kim as "Little Rocket Man"→ Pivoted to summitry — Singapore 2018, Hanoi 2019 — and walked out of Hanoi with no deal and no follow-onWikipedia
  6. Apr 2019
    Threatened to close the southern border "next week"→ Backed off, downgraded to a "one-year warning" for MexicoNPR
  7. May 2019
    Threatened 25% Section 232 "national security" tariffs on EU and Japanese autos→ Delayed the decision 180 days; the deadline passed with no action and the tariffs were never imposedCongressional Research Service
  8. Jun 2019
    Said the US was "cocked and loaded" to strike three Iranian sites after Iran downed a US drone→ Called off the strike about ten minutes before launch, citing projected casualtiesCNN
  9. Jun 2019
    Threatened 5% tariffs on all Mexican imports, rising to 25%, unless Mexico curbed migration→ "Indefinitely suspended" the tariffs after Mexico agreed to steps largely already under wayCNBC
  10. 2018–20
    Launched a trade war with escalating tariffs on ~$550B of Chinese goods to force structural change→ Settled for a limited "Phase One" truce; China's purchase pledges went largely unmetBritannica
  11. Jan 2021
    25% tariffs on $1.3B of French luxury goods over the digital tax, set for Jan 6 2021→ The US suspended the tariffs indefinitely one day before they were to take effectWashington Post
  12. 2020–21
    Ordered ~9,500 US troops pulled from Germany over defense-spending complaints→ The withdrawal was never carried out before he left office; formally halted in 2021CBS News
  13. Nov 2024
    Named Matt Gaetz his Attorney General nominee→ Gaetz withdrew under Senate pressure eight days later; Trump accepted it and picked BondiNPR
  14. Jan 2025
    Announced emergency 25% tariffs on all Colombian goods, threatening to double them to 50% in a week, after Colombia blocked deportation flights→ Put the tariffs "on hold" within hours after Colombia agreed to take the flightsCBS News
  15. 2020–25
    Issued a 2020 order to ban TikTok or force its sale over national-security fears→ Flipped to "saving" it, signing repeated 2025 orders to keep it running and delay the banNPR
  16. Feb 2025
    "The US will take over and own" Gaza and turn it into a "Riviera"→ Within 24 hours his own officials walked it back: no US troops, no US funding, relocation "temporary"Euronews
  17. Feb 2025
    Ordered 25% tariffs on Canadian imports over fentanyl and the border, set to take effect Feb 4→ Paused them for 30 days after Canada announced border-enforcement stepsCNBC
  18. Feb 2025
    Ordered 25% tariffs on all Mexican imports over fentanyl and the border→ Paused them for 30 days after Mexico agreed to send 10,000 troops to the borderPBS NewsHour
  19. Mar 2025
    "We're taking back" the Panama Canal, refusing to rule out military force→ Settled for a BlackRock-led consortium buying the canal's ports; no US takeover, the canal stays PanamanianCBS News
  20. Mar 2025
    Nominated Rep. Elise Stefanik as UN ambassador→ Withdrew the nomination to protect the thin House GOP majorityCNBC
  21. Apr 2025
    Posted that Fed Chair Jerome Powell's "termination cannot come fast enough"→ Said days later he had "no intention" of firing Powell — "none whatsoever"CNBC
  22. Apr 2025
    Declared "Liberation Day," imposing sweeping "reciprocal" tariffs on nearly every trading partner→ Paused the country-specific tariffs for 90 days hours after they hit and markets plunged, keeping a 10% baselinePolitiFact
  23. Apr 2025
    Escalated tariffs on Chinese goods to 145%→ Slashed them to 30% under a 90-day Geneva truce weeks laterPBS NewsHour
  24. Apr 2025
    Insisted there would be "no exemptions" from the reciprocal tariffs→ Exempted smartphones, computers and chips days after imposing themCNBC
  25. May 2025
    Threatened a "straight 50%" tariff on the EU starting June 1, calling the bloc impossible to deal with→ Delayed it to July 9 two days later after a call with von der Leyen; settled on a 15% dealCNBC
  26. May 2025
    Ordered a 100% tariff on "any and all" foreign-made movies→ The White House walked it back within a day: "no final decisions," focus shifted to tax incentivesNPR
  27. Jun 2025
    Ordered ICE to pause worksite raids on farms, hotels and restaurants, bowing to the farm lobby→ Reversed the pause four days laterNBC News
  28. Jul 2025
    Threatened Vietnam with a 46% tariff→ Cut it to 20% in a trade dealCNBC
  29. Jul 2025
    Threatened pharmaceutical tariffs "up to 200%," later "250%," coming "very soon"→ Gave a grace period "of about a year, year and a half"; pharma stayed exempt into 2026CNBC
  30. Jul 2025
    Threatened Japan with 25% tariffs by the Aug 1 deadline→ Cut to 15% in a trade dealNBC News
  31. Jul 2025
    Threatened South Korea with a 25% tariff by the Aug 1 deadline→ Cut to 15% in a trade deal days before the deadlineCNN
  32. Jul 2025
    The Pentagon paused weapons shipments to Ukraine→ Trump reversed it within a week: "we're going to send some more weapons"NPR
  33. Jul 2025
    Gave Putin a 50-day ultimatum, later shortened to 10–12 days, to reach a ceasefire or face 100% tariffs and sanctions→ The deadline passed with no new sanctions; he hosted Putin at an Alaska summit insteadCNBC
  34. Aug 2025
    Announced a blanket 50% tariff on copper imports; COMEX copper spiked to records→ The fine print exempted refined copper, cathodes and ore — only semi-finished goods hit; futures then plungedWhite & Case
  35. Aug 2025
    Announced a 100% tariff on imported semiconductors→ Carved out, in the same breath, every company "building in the US" — Apple, TSMC and the rest — hollowing the threatCNBC
  36. Oct 2025
    Threatened an additional 100% tariff on China over rare-earth curbs, effective Nov 1→ Dropped the 100% threat at the Xi summit, agreed a one-year truce and actually cut China tariffsCNBC
  37. Nov 2025
    Slapped a 50% tariff on Brazil over Bolsonaro's prosecution→ Carved out coffee, beef, orange juice and other top exports; coffee later cut to zeroSupply Chain Dive
  38. Nov 2025
    Hit Switzerland with a 39% tariff, one of the highest on any country→ Cut it to 15% in a trade dealCNN
  39. Mar 2026
    48-hour ultimatum: reopen the Strait of Hormuz or the US will "hit and obliterate" Iran's power plants→ Postponed the strikes five days, citing "very good and productive" talks Iran said never happenedCNBC
  40. Mar 2026
    The five-day pause expired with a renewed threat to destroy Iran's power grid→ Extended the pause another ten days, saying talks were "going very well"Al Jazeera
  41. Apr 2026
    Deadline-day threat: "a whole civilization will die tonight, never to be brought back again" if no deal→ About ten hours later called off the strike and announced a two-week ceasefire brokered by PakistanNBC News
  42. Apr 2026
    With the two-week ceasefire expiring, teed up an attack if Iran didn't submit a proposal→ Extended the ceasefire indefinitely, "until such time as their proposal is submitted"Al Jazeera
  43. May 2026
    "Scheduled attack of Iran tomorrow"→ Told the military "we will NOT be doing the scheduled attack": "I put it off for a little while, hopefully maybe forever"CNBC
  44. Jul 2026
    "I am considering a massive attack. Bigger than ever before. We are all set for it"→ Pulled back to negotiations days later, saying he'd give diplomacy another chanceAxios
  45. Aug 2026
    "Locked and loaded and ready to go," threatening "large new attacks" on Iran's energy infrastructure→ Canceled the planned strikes; his claim that a deal was pending was denied by IranNPR
  46. Aug 2026
    Threatened 50% tariffs on Canada, effective midnight→ Paused with two hours to spare — "we have a deal," pending paperwork. The deal collapsed in three days and the tariffs took effect August 22; the fold stands, and so does the sequel.CNN
  47. Aug 2026
    Ordered the joint drills with South Korea "substantially reduced" to please Pyongyang→ The ally ran the exercises anyway; Seoul said they proceed as scheduledLatin Times

The Betters’ Cookbook

Money-saving meals, brought to you by the people who raised the bill. Their advice, their words — each served with the receipt.

“It can cost around $3 a meal for a piece of chicken, a piece of broccoli, a corn tortilla and one other thing. There is a way to do this that actually will save the average American consumer money. (They ran "over 1,000 simulations.")”
— Brooke Rollins, Agriculture Secretary, Jan 2026

The receipt: Groceries cost the average family about $310 more in 2025. §

“People are sort of looking around thinking, "Wow, well maybe I can get a chicken in my backyard," and it's awesome.”
— Brooke Rollins, Agriculture Secretary, March 2025

The receipt: Eggs hit a record near $6.23 a dozen that month, up roughly 350% on the year. §

“Fast food is not less expensive. That meal costs $12 to $14. People can eat a lot cheaper at home and a lot better food. (Launching a cooking show pitching meals "under $5 a serving.")”
— RFK Jr., Health & Human Services Secretary, July 2026

The receipt: A CNN reporter cooked his $19.64 salmon-cakes meal on air. The checkout rang up $70.54. §

“I don't have anything against fast food; I'm against food that has seed oils. (He wants the fries fried in beef tallow instead.)”
— RFK Jr., Health & Human Services Secretary, 2025

The receipt: The beef his tallow gospel runs on hit an all-time record, past $6 a pound. §

“He drinks only raw, unpasteurized milk, and campaigns to loosen the restrictions on selling it.”
— RFK Jr., Health & Human Services Secretary, 2024

The receipt: Raw milk sells well above pasteurized — and the FDA warns it can carry bird flu and listeria. §

As advised by your betters

What the comfortable think you can do without — their words, sourced.

“My mother-in-law, who's 94, she wouldn't call and complain if a Social Security check didn't come. A fraudster always makes the loudest noise.”
— Howard Lutnick, Commerce Secretary, March 2025
“When I was trying to buy my first home, I wasn't buying smashed avocado for nineteen bucks and four coffees at four dollars each.”
— Tim Gurner, property developer, 2017