Posted by: “cohensmilk1” email@example.com
Butter Lube Job
“On Friday (July 9, 2010), the wholesale price of butter
closed at $1.76 cents per pound. That represents
a 51 percent increase during the past ten months and
a three percent increase in just the past fifteen days.
If 51 percent ain’t inflation, then what is?”
Just ten short months ago in September of 2009, a
Notmilk column predicted that insider trading of
butter commodities would spark a new round of
inflation for America. At the time, butter was
trading on the Chicago Mercantile Exchange for
$1.17 per pound.
Why is it that the media has not yet reported this
story? We are in an inflationary spiral led by
the slipperiest of all commodities, butter.
When America finally wakes up too late to halt
the pain of inflation, Notmilk will report
the “butter bawl.”
Yesterday July 23, 2010, the wholesale price of
butter traded at $1.80. That four cent increase
in just fourteen days represents an additional
2 1/4 percent increase…two weeks!
My supermarket (ShopRite) is retailing butter at
$1.69 per pound. That represents the below-wholesale
sale price which actually represents the unloading
of millions of pounds of surplus butter that has been
stored for many months or years in underground caves,
to be purchased by an unsuspecting public…The
perceived bargain of purchasing old discounted
saturated fat is really no bargain at all.