Saturday, October 16, 2010

Flashback to 1870 as Cotton Hits Peak .

The economy is starting to spasm in all sorts of weird ways right now. Corn is also up 60% in 3 months. This is what happens when The Fed decides that it is REALLY going to crank the printing presses.


The sudden surge in prices—cotton has risen up to 56% in three months—has alarmed manufacturers and retailers, who worry they may be forced to pass on higher costs to recession-weary consumers.

The December cotton contract hit $1.1980 a pound minutes after the opening of trading on the IntercontinentalExchange Inc. on Friday. It is officially the highest price since records began back in 1870 with the creation of the New York Cotton Exchange.

Click here for the story.

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Nick Sorrentino is the Editor of The Liberty and Economics Review and CEO of a social media management company.