Front month corn futures hit $7.65 this morning, matching the all time high price set back in 2008. I keep focusing on this particular grain because its price determines to a large extent the price of beef, pork and chicken that consumer are going to end up paying at the grocery store.
If this was not enough of a shock - gasoline prices hit a fresh 32 month high this morning.
Crude oil is over $108 while Brent is over $120.
"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat
Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput
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