This is from http://news.goldseek.com/Zealllc/1214583191.php
This guy is pumping hard, too.
Posted on 06/27/2008 7:34:42 PM PDT by TigerLikesRooster
Commodities Boom Recalls 70s Surge; Prices Not There Yet
CHICAGO (Dow Jones)--Despite record highs that seemed unthinkable to many just a year ago, most commodities prices still have a long way to go before inflicting the pain global consumers felt in the 1970s.
An analysis of 18 different commodities by Barclays Capital shows that only crude oil and heating oil have surpassed inflation-adjusted highs from almost 30 years ago.
Of key food commodities, the closest to those highs is corn, which was still 42% below its inflation-adjusted October 1974 peak as of Thursday's close. Wheat was 57% below its 1970s inflation-adjusted peak, and soybeans were 63% lower than its high-water mark. Sugar is 94% below its inflation-adjusted high.
"The big picture is that the recent moves up in the prices of many commodities have only just begun to reverse what has been a 30-year downtrendin real terms," the Barclays report said. "Perhaps instead of asking why commodities prices are so high right now, a more interesting question might be why they were so low for so long."
Analysts say commodities likely aren't headed to those inflation-adjusted 1970s highs, nor will they resume a long-term deflationary trend. But there are similarities - and lessons to be learned - from the 1970s boom.
(Excerpt) Read more at cattlenetwork.com ...
This is from http://news.goldseek.com/Zealllc/1214583191.php
This guy is pumping hard, too.
Ping!
??? Can you elaborate?
I remember the 1970's as a kid. Let us just say meals of Hamburger Helper became a weekly occurrence as money got tight and food prices went through the roof. There will always be cheap ways to eat...just some are more imaginative than others...
Got you.:-)
So does this mean history is just about repeating itself, or what? Electing another Jimmy Carter type stooge Democrat who can't hit his backside with both hands at the same time, or what?
Say what you will about old washed up Hitlery Clinton, she sure knew how to play them old pork belly futures!!!
Not to mention that Hamburger Helper is free of any natural products, so it’s pretty inflation-proof. Like Top Ramen.
Top Ramen is the cheapest pasta you can buy. Just throw away the seasoning, drain the noodles when cooked, add a little butter and a sprinkling of Parmesan cheese, and yum!
Even better ... stop at a restaurant and ask for a cup of hot water and put some katchup in it and you have instant tomato soup.
Check out all the delicious recipies at this site:
http://coveredbaptists.proboards31.com/index.cgi?board=recipes&action=print&thread=1426
My favorite miser trick is to order a spicy crispy chicken sandwich at Karl’s Junior. It’s always on special for a buck. I have them hold the mayo. Then I ask for a couple of BBQ sauce packs. Crispy BBQ chicken sandwich for a buck!
Naaahhh, soylent green will become widely available..., the ultimate "Mystery Meat" (not to mention "Mystery _____"..., fill in the blanks!)
I didn’t see any Wish Sandwich recipes at that link.
17 times more expensive back then. Wow.
I guess we can all eat candy!
Logical result of intentionally crashing the US dollar. Prices won’t turn around until the dollar is bolstered through higher interest rates. Then soaring commodities prices will be replaced with soaring inflation overall from the FED once again leaving interest rates way too low for way too long.
It is like they are actively trying to destroy the middle class.
Well, not destroy, exactly - just pluck that Golden Goose bald to bail out the big boys. ;)
what do you mean, "like"..that is exactly what they want to do....
they don't want all those pesky working people to go into the state or national parks, to mingle with their children, or take up extra space on airlines....
Seeing you write this reminded me of an ABC TV news commentary back then by Harry Reasoner where he recommended people with these buttons wear them upside down for “NIM”.
Meaning “No Immediate Miracles”.
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