A guy who has made his bones in the commodity business, Jim Rogers, is worried. He doesn't think we're necessarily on the road to a Mad Max world, but, then again, he isn't sure we're not.
Jim stares at $3.15 gasoline, $4.35 copper, and $6.40 corn and says the prices will go much higher. Maybe by enough to make us think a little more seriously about governments falling and street riots by the hungry.
Some governments and some politicians might respond by blaming speculators for rising prices. He used the example of how exchanges in India will sometimes be forced to shut to cool down rising commodity prices. “But every time it happens, prices go higher and higher. That’s the reaction of a simple-minded politician,” he said.
(If "simple-minded politician" is hate speech designed to move some loon to start shooting, well, I sure do apologize. And imagine how the Left would get after us if we proposed that our money be backed by something more glittery than an Obama turn of phrase.)
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