Inflation is Already Here!

Posted Nov 7th 2010 11:10AM by Connie Madon at BloggingStocks

www.bloggingstocks.com/bloggers/connie-madon

“Bernanke claims that inflation is below the Fed's 2% target. That's hogwash! Sure if you use the "core" CPI, which leaves out food and energy, that may be the case. Not to worry.”

“But tons of inflation have already been created. Look at these commodity prices and say there's no inflation:

• Gold is at an all-time high, with the December futures at $1,397.70 per ounce.

• Silver is at a 30-year high, with December futures at $26.748 per ounce.

• The December U.S. dollar futures are at 76.69, down from 89.11.

• Cotton is at an all-time high. Price increases are being passed on to consumers.

• Sugar is at a 30-year high. Soon there will be price increases in sugar products.

• Oil is trading at $86.65 per barrel, pushing $90.

• Gasoline is already $3.00 per gallon, with $4.00 gasoline on the way.

• The grain markets are exploding. December wheat is at $7.28 per bushel, corn is at $5.87 per bushel and soybeans are at $12.84 per bushel. “

In my opinion, inflation is here and will continue. Will the Fed be able to manage inflation or will it be runaway inflation? Are you prepared?

As an example:            How would $5.00/gal gas change your daily life?

I-10 in LA (Sept 2010)