Posted by
theoilpatchplug on Saturday, April 26, 2008 8:39:24 PM
Fuel Prices have risen over 300 % for the American consumer, in the E.U. its risen only 90% vs. the Euro. This price shock is only now rifling through our economy. Independent truckers have been absorbing much of these increases with savings and bank credit. They are at the end of their money. Increases of 50% or more will be needed to continue to bring food to you and me. Real 3rd world type hyper-inflation is at the beginning stages in our economy.
Reluctant Predictions
- Inflation rates of more than 30% per year.
- Food spoiling in fields and in distributions centers.
- Shortages of foodstuffs and common continence items.
- Tightening of Credit to slow the depreciation of the dollar that will force many small businesses out of business.
- A recession if we are lucky, but it will be a depression for many that are affected from the coming business contractions.
- The Misery Index will again be with us at 60-80%. That’s 30% Inflation, 20+ % Unemployment and 20% Interest Rates.
Hope I’m Wrong. You'll be able to tell by December.