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So the price of cotton went up another 45% and is now at a 15 year high according to the following article.
Quote:
Last week, the bosses of the UK's biggest clothing chains, from Next to Debenhams and even Primark – king of the discounters – kicked off the retail reporting season by issuing the same stark warning that prices could rise in the coming year. A 45% rise in the price in the price of cotton to a 15-year high could not be ignored, they said. At the same time, retailers are juggling higher labour costs in the south-east Asia, the impact of a weaker pound and a rise in VAT to 20% from January.
Next's chief executive, Lord (Simon) Wolfson, was the gloomiest, and in words likely to strike fear into the hearts of fashionistas predicted: "The era of ever-falling prices [for clothes] is over". The price of Next's clothes are going to rise by up to 8% in 2011 and Wolfson said he suspected shoppers would have to cut back on the number of new outfits they buy: "Our best guess is that if prices go up 8% then the number of units [sold] will be down 10%. The clothing retail industry hasn't experienced price increases for 15 years and the truth is we don't know what the response will be."
Keeping tihs local...I go Nordstrom the Rack when I want to be really stylish and Forever 21 and.or this new store at North Star caleld Shasa when I want to be cheap.
Good news for America,
I wonder if the media is going to report this or if they'll ignore it like they ignored the bounced of the stock market from 7000 last year.
Now here's a subject that I would consider a darn good argument for the US to move back into an agrarian society.... or at least more of it. 50% durable goods manufacturing, 50% agrarian.
Leaves no room for the service based economy while our jobs shuffle crost' the water to lands a'foreign.
Things are way different here. And this is just ONE industry in the UK.
Bottom line is our dollar is so deflated right now, and it's looking like they're going to start printing more money just to falsely inflate the economy. Every investment banker I talk to (and I know a lot of them) are bracing for a second dip. Too much inflation. Dollar becoming worth less and less.
Get rid of your debt people. Now. We're in for another 2-3 years of this and possibly worse. Too much debt. Too much money being printed. Too much NEW debt that's been passed, but hasn't taken effect yet.
Get rid of your debt people. Now. We're in for another 2-3 years of this and possibly worse. Too much debt. Too much money being printed. Too much NEW debt that's been passed, but hasn't taken effect yet.
I highly agree with this. There hasn't been enough job growth to warrant an increase in the confidence of investors.
Things are way different here. And this is just ONE industry in the UK.
Bottom line is our dollar is so deflated right now, and it's looking like they're going to start printing more money just to falsely inflate the economy. Every investment banker I talk to (and I know a lot of them) are bracing for a second dip. Too much inflation. Dollar becoming worth less and less.
Get rid of your debt people. Now. We're in for another 2-3 years of this and possibly worse. Too much debt. Too much money being printed. Too much NEW debt that's been passed, but hasn't taken effect yet.
Actually if you want to take advantage of inflation you should take on more debt at fixed interest rates, it will be easier to pay back in the future with inflated dollars. Inflation hurts lenders not borrowers.
For example borrow $1000 dollars and purchase Gold with it, wait for the dollar to inflate 100%, now that Gold is worth twice as much in Dollars so you sell the Gold for 2000 inflated dollars. Now you pay back your loan at $1000 + interest and pocket the difference.
With 300 million people, I'm not sure a 50% agrarian society would work. I usually end up in stores that sell leftovers from department stores, but you have to be careful because some of those clothes have major defects. I'm not too picky, so Wal-mart does me just fine. Thift stores gross me out sometimes. I once bought a pair of pants that had something that looked like dried up snot in one of the pockets and I didn't find out about it until after I took them home and washed them. Yes, the gooey stuff was still in the pocket after I washed it.
Actually if you want to take advantage of inflation you should take on more debt at fixed interest rates, it will be easier to pay back in the future with inflated dollars. Inflation hurts lenders not borrowers.
For example borrow $1000 dollars and purchase Gold with it, wait for the dollar to inflate 100%, now that Gold is worth twice as much in Dollars so you sell the Gold for 2000 inflated dollars. Now you pay back your loan at $1000 + interest and pocket the difference.
Yeah...you do that and tell me how it works out. Inflation kills everyone. Especially when it crashes overnight.
I hope you're not taking your own advice.
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