Wheat in 2010: It made a Low of $4.50 and is now at a current high of $7.50
How would you feel if you went to the store and it took your entire paycheck to pay for your food? Think it won’t happen?
A secret shopper is turned loose every month to check on prices of 31 items. In July, the shopper returned with a stunning report: Wal-Mart had raised its prices 5.8% from the previous month. In addition, its prices were approaching the levels of its competitors.
The secret shopper is from JP Morgan Chase, the company who compiles these statistics. The supermarkets checked were in Virginia.
This information was released in an article by The Daily Reckoning.
The article goes on to say, “If you think your grocery bill is already high, you ain’t seen nothing yet. In fact, we could be just one supply shock away from a full-blown food crisis that would make the price spikes of 2008 look like a happy memory.”
“When we have the first serious crop failure, which will happen,” says farm commodity expert Don Coxe, “we will then have a full-blown food crisis” – one far worse than 2008.
What does this mean for you and me? To me it means that I should have food and water stored for my family. If this continues, then I would think everyone would need to store 6 months of food and water for every member of their family.
You may be scoffing because you feel you were burned with Y2K. Nothing happened then, and nothing may happen now. If you feel that way, you must think there is a downside to having a supply of food. But really, when you think of it, what is the worst thing that could happen?
Nothing, and you would be forced to actually eat the food you have stored
If nothing happens, and you have to eat your food supply, will you feel like a fool? Is that what you are afraid of? Well, if you tell everyone and their brother that you have stored food, then yes, there is the possibility that you may look like foolish in their eyes if nothing happens. So, what do you do? In my mind, you should store the food and keep your mouth shut. Then if nothing happens, no one will know, and there will be no need for you to feel foolish.