Sunday, May 02, 2010
A quart of wheat for a day wages
I get my financial information where I get my groceries, at Wal-Mart. I have watched the price of Great Value pretzel rods go from 88 cents a year ago to $1.88 today. In the last two weeks I've seen a 1O% price increase in my leading economic indicators, which includes coffee, tea, bananas, dog food and Metamucil.
Now that we have an oil spill in the gulf the size of Texas, they have stopped all gulf oil production. I'm watching the price of a gallon of gasoline go up 5 cents a week. It will be $3 for the Memorial Day weekend and $4 dollars per gallon by Independence Day. I'm seeing inflation everywhere I look, even if the state run media denies it. Inflation is just another tax and at this rate my 401K and five dollars will get me a cup of coffee.
Falling Prices; Don't fall for it. Go to Wal-Mart.