re: #295 Walter L. Newton

I don’t know about Beck, I don’t know about the “NIA”, but I know that food prices are rising and expected to rise even more this coming spring. I’m in the business… this is what I hear… and the WSJ just had an article on this…

The WSJ article is talking about possible food price inflation of 2-3%, and how this will hurt Applebee’s, if people “trade down” to Burger King or stop eating out as much. Their fear (of falling consumption) is caused by lack of demand as much as the increase in grain prices (which is itself driven, it seems, by increasing consumption in China).

Beck is talking about loaves of bread costing $25.

I would hardly call that corroboration.