A loaf of wheat bread may soon cost $23 due to skyrocketing food price inflation

Uh oh — Found on Natural News (be sure to read this article in its entirety too. You’ve been warned about Natural News lies before):

NIA projects that at the average U.S. grocery store it will soon cost $11.43 for one ear of corn, $23.05 for a 24 oz loaf of wheat bread, $62.21 for a 32 oz package of Domino Granulated Sugar, $24.31 for a 32 fl oz container of soy milk, $77.71 for a 11.30 oz container of Folgers Classic Roast Coffee, $45.71 for a 64 fl oz container of Minute Maid Orange Juice, and $15.50 for a Hershey’s Milk Chocolate 1.55 oz candy bar. NIA also projects that by the end of this decade, a plain white men’s cotton t-shirt at Wal-Mart will cost $55.57.

NIA Projects Future U.S. Food Price Increases

The report highlights how despite cotton rising by 54%, corn rising by 29%, soybeans rising by 22%, orange juice rising by 17%, and sugar rising by 51% during the months of September and October alone, these huge commodity price increases have yet to make their way into America’s grocery stores because corporations have been reluctant to pass these price increases along to the consumer. In today’s dismal economy, no retailer wants to be the first to dramatically raise food prices. However, NIA expects all retailers to soon substantially raise food prices at the same time, which will ensure that this Holiday shopping season will be the worst in recorded American history.

That storm we’ve been predicting…. it’s here.

And for whatever it’s worth – a real “I told you so” moment if there ever was one, I just found this in the NIA Report (emphasis is mine):

NIA believes the only asset class that has the potential to rise in value by more than gold and silver this decade is agricultural commodities (food). Inflation gravitates most towards goods that Americans need to live and survive. There is nothing that Americans need more to live and survive than foodNIA Projects Future Food Prices (pdf file).

I’ve got about two hundred ounces of silver I’m going to dump pretty soon I think.  It’s useless to me as a practical and essential item.  I’ve long taken the position that gold and silver are NOT the ‘investments’ people have been taught to believe and that food prices have outpaced their increase.  I could (and did) invest in food stores, which have appreciated far faster then gold or silver did even in this market.  But the report above makes this notion more concrete then ever.

Nobody will take your silver or your gold for food (let this be a reminder).  There are only a limited number of places where you can actually exchange gold and silver for dollars (or anything actually) — even today.  A few trade shows have dealers that will let you trade your gold for guns or a few other items, but that’s about it.  Everybody still only accepts dollars, a situation that I have long expected to last nearly indefinitely.  Even ‘inflated dollars’ until such time as a wheel-barrow full is what it takes to buy a loaf of bread.  But the moral of the story remains the same as I have always said: invest in yourself and your future and what you NEED.

Oh, in case you didn’t know already — in the Argentinian collapse, gold and silver bullion traded at “junk prices”, the same as junk jewelery, effectively deflating it’s alleged “stored value” by a ridiculous amount.  Nobody in a collapse situation actually trades bullion at the market values, and this is because (after you cut through all the b.s.) this is a commodity nobody actually needs.  The trader (dealer) is going to have to convince somebody else to buy it or trade for it, and in a collapsed economy — what do you think people are really going to need?

Privately, I’ve been having long conversations with a few people on this topic, and I think that a lot of people are being badly misled by all the hypsters and hucksters out there.  But hey, it’s your life, your money and your future, so you decide for yourself.

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