Check out this price comparison of food from 2007 to 2008. Yeah, it's wholesale prices for cattle feed, but if it's representative of the market, that's a little scary...
For those who've been buying food and storing it, congratulations on a terrific investment!
Every time I see gas prices or food prices rise I get nervous -- but looking at my budget, we spend about 10% of our net income on food, and 3% on gas for our cars. Mortgages and electricity and water and insurance and taxes all don't move much. So even if gas and food prices double, scary, yes, but probably not time to panic and abandon all reason.
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