If you think food is expensive now, wait for a while, it is going to go up. Fuel ethanol, combined with some poor harvests in the rest of the world, has driven up the price of corn which in turn is driving up the price of other grains and cereals which is going to drive up the price of meat, and just about everything else.
How would you have liked to have purchased some gold 2 or 3 days ago? It is off $60 an ounce today alone.
Oil is down $5 so that should reduce the price of gas if the trend continues. I was at a conference last week and the economist giving a presentation said that between $20 and $30 and possibly as much as $50 a barrel of the cost of
oil right now is pure speculation. Many econominst feel that the actual present cost of
oil is in the $60 to $80 range, not the $110 that it is being sold at. All the rest is speculation markup. Some people are making billions right now as they manipulate the futures markets.
Wayne