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And we thought oil was bad....
Originally posted by SunnyDee
I was just checking out some charts on cnn.com in the money section. If you go to the markets section you will be able to see monthly and yearly charts on the most common commodities. Needless to say, it is shocking to see how much cotton, wheat, corn, and coffee, to name a few have increased. And we thought oil was bad....money.cnn.com...
Wheat up 65%
Corn up 78%
Cotton up 130%!
Soybeans up 49%
Coffee up 72%
Light Crude up 20%
Hogs and cattle up 18-30%
Precious Metals up 20-30%
Now for some more interesting numbers:
Natural gas down 17% (not that shocking, we supposedly have a lot of this)
Cocoa down 5% (wasn't there some scare this year that there was a shortage of cocoa?, hmmm)
The big deal here is the food staples. I don't think we have even begun to feel the price increases for these products. And what happened in the last 6 months to skyrocket all these up? Oddly still is the fact that the media covers precious metals and oil increases as a daily event, but no one is talking about these other staples, why?
I really don't know, but with strange weather, GM foods, bee colony collapse, and a recession still in full progress, I think we all need to keep stockpiling or start now.
Any Food for Thought here? Pun intended!