Time to Invest in Food?
Posted by keelynet on April 26, 2008
Is this a chicken little paranoia thing? Rice, corn and other food prices have gone up commensurate with gasoline and diesel, so it might not hurt to have a few weeks of food staples and water just in case. Better safe than sorry. The other alarming thing is all those who DON’T prepare and what they’ll do to get food and water to survive. Which of course means defense needs such as guns, bats, etc..
“I don’t want to alarm anybody, but maybe it’s time for Americans to start stockpiling food… Reality: Food prices are already rising here much faster than the returns you are likely to get from keeping your money in a bank or money-market fund. And there are very good reasons to believe prices on the shelves are about to start rising a lot faster… Stocking up on food may not replace your long-term investments, but it may make a sensible home for some of your shorter-term cash. Do the math. If you keep your standby cash in a money-market fund you’ll be lucky to get a 2.5% interest rate. Even the best one-year certificate of deposit you can find is only going to pay you about 4.1%, according to Bankrate.com. And those yields are before tax. Meanwhile the most recent government data shows food inflation for the average American household is now running at 4.5% a year.” - Source


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