For those who think fearmongering is at an all time high. I have news for you courtesy of the Boy Scouts. Be prepared.
Corn prices below show the rise only seen in 2008 but we are only at the beginning. If oil goes up due to instability in the middle east, the price of all good will go up even more. But it’s about to crash through the 2008 all time high. Keep an eye on it.
Additionally, the price of cotton which we knew was rising, is also spiking dramatically and is at all time highs now in January. I guess Glenn Beck’s warning of Cotton going up 30% and to stock up a couple of months ago wasn’t such a bad idea. I wish I had taken his advice. We’ll keep an eye on this one too.
In any case, both the drop in the US dollar and the fact that all our goods get transported via oil burning vehicles is going to drive up commodities. That makes you and I, as consumers, OfficiallyScrewed.