Sunday, October 10, 2010

Are Shocking Price Increases Coming?

We listened to a King World News interview of Rick Santelli this weekend and thought the information was extremely informative.  Santelli, btw, is credited with starting the Tea Party movement with his rant on CNBC about big government and spending money we don't have.  You can hear that interview here.

I was shocked when I heard these statistics from the interviewer:

Agricultural Raw Materials +24% since this time last year
Imdustrial Materials Index +25%
Metals Price Index +26%
Coffee +45%
Barley +32%
Oranges +35%
Pork +68%
Cotton +40%
Rubber +62%
Iron Ore +103%

Every time you read that the government is doing "Quantitative Easing" substitute the words printing dollars and understand that when there are more dollars, the dollars we have in our pockets or bank accounts are worth less.  Every time you see the price of gold go up think that's one more vote for a loss of faith in the U.S. dollar.

It wouldn't surprise us to see prices of everything we consume move up and up and everything we own with debt go down in price.

Manufacturers of furniture and accessories have outsourced production to Asian markets to keep prices reasonable, however with raw materials soaring, we wouldn't be surprised to see finished goods no matter where produced go up in price.

Bev & Mike
Landfair Furniture + Design gallery
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