You might think about putting more wheat and pasta back for storage. Wheat prices have been hitting over $20 a bushel, up from like $9 or less. Prices of food are going to get higher.
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Lo, there I see my mother, my sisters, my brothers Lo, there I see the line of my people back to the beginning Lo, they call to me, they bid me take my place among them In the halls of Valhalla, where the brave may live...forever
Yep, hold on. The ethenol deal is driving all commodities sky high. Of course when adjusted for inflation farmers over the last 20 years or so were getting less than depression level prices for many commodities so they are do to make some decent money for their work. I just got back from a meeting with one my manufacturers and they were warning dealers that they would not allow hording of combines. Production for the whole year was sold out months ago.
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Jason (Formerly salesortonscom)
As I walk through this earth, nothing can stop, the Duke of Mirth!
My friend in the church's humanitarian department has told me that the skyrocketing wheat prices are causing problems all over the world, which problems will continue to escalate.
We bought a bunch of wheat flour before the price went up....If they still haven't changed the price at the Costco next week, we are buying more. We also bought more rice, beans, salt, sugar and spices.
I laugh at Bush. We have passed going into a recession.... right now we are inbetween a recession and a good ol' fashioned depression.
Unemployment just jumped in Phoenix. House prices continue to go down. Foreclosures are at an all time high around here. There is no gas under $3.02 here in Phoenix.
Start tightening your belts folks and get ready for the long haul... this one could last 3-5 years from everything I've seen and even though it's all gone down, I'm dumping my stocks this week and taking the loss. Our market is going to go DOWN, DOWN, DOWN. I'm keep some Euro stocks and some Asian stocks but I'm imagining that our market downturn will cause a downturn in all of the others.
Grateful I have some things stored and some $$ in the bank but I'm wondering if that will still be there sooon.
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no unhallowed hand can stop the work from progressing... the truth of God will go forth till it has penetrated every website, sounded in every ear, till the purposes of God shall be accomplished and the great Jehovah shall say the work is done
Inflation is real, but we're in danger of getting hyperinflation soon, IMHO. I've seen hyperinflation when I served my mission in Ukraine, but I was mostly protected from it because I got my support money in dollars instead of the local currency, which went from about 2000 to the dollar at the beginning of my mission to over a million to the dollar towards the end. But I think that the Fed is about to lose control over inflation. About 7 years ago, I could buy gas for just under a dollar a gallon. Today, I'm doing well to find gas at $2.95. And Colorado, I'm led to understand, is one of the 10 states where gas is cheapest. A barrel of oil hit a high recently of $103.75 a barrel, which is an "inflation adjusted" all time high. The last was $38 per barrel in 1980. So it now takes $2.70 what it took $1 to buy in 1980. It gets better yet. My mom tells me that she found an apartment, in the Los Angeles area, for around $40 per month back in the sixties. Nowadays in Colorado you can only find a low income apartment for $600 a month. While I'm comparing a mid level apartment in a highly populated area to a low leve apartment in a not-so highly populated area, you can see that that you are paying more than fifteen times for an apartment nowadays than you would have in the sixties. Still, it's not the long term inflation that really shocks me, as bad as it is, it's the short term inflation. $20 wheat that used to be $9 is more than a 100% increase in a short period of time. Independent truckers are in real trouble, because they can't make money on a load with diesel prices where they are at.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
There's not much further that we can go, since we tend to cook from scratch anyway. Maybe use less expensive ingredients (for example, less cheese), but wheat, one of the cheapest ingredients, is going way up too.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Cookies we make. Ice cream we buy occasionally, but not a lot. Maybe once a month. Salsa we tend to can and buy when our ward is doing wet pack at the church cannery. We rarely eat chips. Candy bars maybe once a month, if that. I'm not saying that we don't have any stuff like that in our food budget, just that we've cut a lot. And we save where we can. For instance, fruit drink we buy at the cannery, because it's good stuff and very cheap there. Ditto for chocolate pudding, which we eat rarely but we like the stuff from the cannery.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Even luxury items like bacon we try to save on. For instance, I can buy a 10 lb box of bacon for $15, and that lasts us for a good long time. It's uneven or badly cut pieces, but hey, I don't mind.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
So, before hyperinflation comes, put all your savings into gold (because money in the stock market during hyperinflation is not going to keep its value), wait a while, then pay off your mortgage with inflated money. Of course, banks would go under in a situation like that, because the mortgages that they hold would basically become worthless. So, hyperinflation is a very dangerous, very serious thing in our modern society. I hope that it doesn't happen.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
BTW, Greenspan hasn't been the head of the Federal Reserve for a while now. It's now Bernanke.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Well, I can forgive you forgetting that. It's not as if you work in a bank or something and you should know it.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Volcker's Fed is widely credited with ending the United States' stagflation crisis of the 1970s by limiting the growth of the money supply, abandoning the previous policy of targeting interest rates. Inflation, which peaked at 13.5% in 1981, was successfully lowered to 3.2% by 1983.
Volcker's Fed is widely credited with ending the United States' stagflation crisis of the 1970s by limiting the growth of the money supply, abandoning the previous policy of targeting interest rates. Inflation, which peaked at 13.5% in 1981, was successfully lowered to 3.2% by 1983.
A founding member of the trilateral commission? Endorsed Barack Obama for President? Helped us get off the gold standard? I don't like the guy.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams
Volcker's Fed is widely credited with ending the United States' stagflation crisis of the 1970s by limiting the growth of the money supply, abandoning the previous policy of targeting interest rates. Inflation, which peaked at 13.5% in 1981, was successfully lowered to 3.2% by 1983.
A founding member of the trilateral commission? Endorsed Barack Obama for President? Helped us get off the gold standard? I don't like the guy.
I've seen that as a Cthulu emoticon a few places...
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"The promptings of the Holy Ghost will always be sufficient for our needs if we keep to the covenant path. Our path is uphill most days, but the help we receive for the climb is literally divine." --Elaine S. Dalton
If you are in the Boise area there are some people in my stake who are putting together an order of wheat at a really good price, but you have to come pick it up here in Kuna. PM me if you want ordering details.
Prairie Gold Hard White Wheat 17.66 1-50 lb bag
Bronze Chief Hard Red Spring Wheat 17.16 1-50 lb bag
The gift cards issue reminds me of why it's important to get out of debt - debtors have control over you. No sane store would suddenly decide to not honor its gift cards, because you royally annoy a large swath of customers that way. Annoying customers is not a good way to get repeat business. But in this case, Sharper Image has no choice - their large creditors are forcing Sharper Image to honor the large, secured debts first, and not the multitude of small debts. It will hurt the store in the long run, but they have more clout because they are owed more money. Think about this, too; those to whom the US government is indebted have control over us. If China were to pull its financial support, our nation would be in serious doodoo. The US government will act exactly the same as Sharper Image did when its creditors said jump. They'll just ask "How high?" The individual taxpayer won't matter.
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If ye love wealth better than liberty, the tranquility of servitude than the animated contest of freedom, go from us in peace. May your chains sit lightly upon you, and may posterity forget that you were our countrymen! - Samuel Adams