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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory
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To: GST who wrote (94735)6/5/2008 12:43:52 AM
From: John Vosilla  Read Replies (2) of 110194
 
Food prices are rocketing all over Europe (May 31 – UK Telegraph)

AP

Shoppers in Madrid strain for 20,000kg of free fish distributed by fishermen protesting against rising fuel prices. It's not just us. All over Europe, the rocketing cost of food and fuel is straining family budgets, stirring unrest and shaking governments. David Blair examines the roots and the impact of a widening crisis.

A study conducted by the French finance ministry has found that supermarket prices have risen by up to 18 per cent in the past two months alone. Butter, pasta and milk have all gone up by nine per cent since last year. If you buy a baguette on the streets of Paris, the price will have risen by anything from five to eight per cent.

Yikes. Inflation is now taking off worldwide. These stories from Europe are really attention-getting. I predict that China will, sooner than later, unpeg their currency from the dollar in an attempt to avoid “importing our inflation.”
And if China does this, many others will follow suit.
Under this scenario, all the inflation experienced by other countries, due to their ties to a steadily weakening dollar, will create a massive tidal wave of inflation for the US.
Hey, all that inflation has to go somewhere, and if the other countries reject it by rejecting the dollar, that means we’ll get to experience all of it.

chrismartenson.com
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