Thursday, October 28, 2010
Higher prices for all coming soon
The Fed's 'tax on the consumer'
Since Bernanke's comments in August, the dollar index has dropped 7%, while commodities -- which are priced in dollars -- have surged. Crude oil has jumped 14%, while gold has spiked 8%. Prices for cotton, corn, sugar, wheat and coffee also have all hit new highs during the past two months. Ultimately, those lofty prices will trickle down to consumers in the form of higher prices for coffee, bread, pizza, gas, clothing and more.
Posted by mark @ 01:01 PM (1120 views)
2 thoughts on “Higher prices for all coming soon”
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techieman says:
This looks like the article that may “mark” – apologies, the end of the dollar’s falls. What will be interesting is what happens when/if the dollar reverses…. i suppose then we have to wait for a similar article in the Bild?
When QE2 is announced lets see how the dollar responds.
techieman says:
🙂 – talking of which http://www.bloomberg.com/news/2010-10-28/fed-asks-dealers-to-estimate-size-impact-of-debt-purchases.html
I will post above