posted on April 7, 2004 08:38:01 AM new
The same global economic forces that have consumers paying higher prices at the gasoline pump may soon have them shelling out more money for their beds, their appliances, and even their food.
In a trend apparent at the start of the year that has accelerated in recent weeks, prices have been soaring for nearly every one of the world's major commodities--the raw materials like metals, grains, and fuels that are essential to making the familiar products of modern life.
Until now, consumers remained blissfully unaware of the chaos in the commodities markets, because manufacturers have absorbed the increased cost of doing business rather than raise price tags in auto showrooms and department stores. But the strain is beginning to show, and a few companies have indicated they will ask customers to help share the burden.
Most economists doubt that the run-up in raw materials will lead to widespread inflation. The Federal Reserve clearly has debated the issue but concluded that other factors in the economy--such as relatively high unemployment--will keep the risk of spiraling prices low. Nevertheless, a few analysts see the current rumblings as the beginning of a major shift in the global economy, in which new wealth and continued population growth in Asian countries force U.S. consumers to pay more for limited world resources.
Bill O'Neill, a principal with commodities research firm LOGIC Advisors in New Jersey, can sum up the reason for the commodities upsurge in a single word: China. "The warning signs were out there that Chinese demand for industrial commodities would be strong, but I think it happened quicker than some people thought," he says. With its economy growing at an annual rate of nearly 10 percent, even while adding 11 million per year to its 1.3 billion population, China has been gobbling up raw materials. Markets are merely reflecting the fact that for the first time, the world's most populous country now has a significant number of citizens who can afford cars, meat, and better housing.
posted on April 7, 2004 04:17:55 PM new
this could be good news-we will not be so wasteful,eat less,stay healthy and go to bed early.
look around ,how many pairs of shoes do you have in your closet,how many clothes you bot and never worn and now too small.
how much food do you leave on the table when you go to an all you can eat buffet??
how many of us go to a fast food restaurant and pick up more napkins,sweetener etc we dont need??
how many cans of soda do your kids drink a day??
a bottle of coca cola used to be a real treat,and now what ? a personal 2 litre bottle ??13 pieces of chicken all for oneself?
it is about time someone else have some of that chicken,soda,all you can eat buffet and be wasteful!
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on April 8, 2004 09:15:30 AM new
stopwinning you brought back a blast from my past talking coca cola. When my sister and I were small we had to split an 8 ounce bottle for our treat along with a small cereal bowl of popcorn. There are somethings you never forget. Thanks
posted on April 8, 2004 09:25:32 AM new
when i was a teenager,once i was so desperate i tried to make my own coca cola??
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
posted on April 8, 2004 05:57:06 PM new
i just have to tell this -
my brother went to university of illinois,urbana campus back many moons ago.
one day he was invited to play bridge with the taiwanese graduate students.
during break,the host went to the kitchen,took out 4 glasses,put some ice cubes in each and open up a coke.
he poured the coke in 4 glasses,filling up 1/4 of the way,the rest??he filled it with ice water!!!!!!!
-sig file -------we eat to live,not live to eat.
Benjamin Franklin
