Here it comes:
Fresh financial pain is on the way, with price hikes expected on everything from underwear to cereal.
City merchants say they've held the line during the economic downturn, but now, because of the increased cost of cotton, wheat and other commodities, price increases are inevitable on almost everything we use.
"It's like a tsunami - when it happens, it hits you later," said Ricardo Rezk, owner of empanada maker Rico M. Panada in Mott Haven, the Bronx. "The warning siren has sounded."
- Global wheat prices more than doubled from June to January, the World Bank says. Corn and sugar prices rose 73%. Experts say that means the price of cereals, sugary drinks and other foods have nowhere to go but up.
"[It] is a perfect storm. Food prices are going up at precisely the time when people have less money to buy food," said Joel Berg of the New York City Coalition Against Hunger, who predicted that rising prices will drive more New Yorkers to food pantries and soup kitchens.
- Gasoline prices are soaring as New Yorkers struggle to pay higher bus and subway fares. Gas costs an average $3.46 for a gallon of regular in the city, up from $2.91 a year ago, AAA New York says.
"I can see gas going to $4 a gallon," said Dino Lombardi, 44, an accountant who often buys gas at the Hell's Kitchen Hess station, where it's $3.49 a gallon.
- Cotton futures have risen 44% since Jan. 1, so clothing is getting more expensive. Underwear maker Hanesbrands warned it will mark up prices throughout the year - and for some products, every three months.
Food costs are up. Clothing costs are up. Transportation costs are up. Energy costs are up. Gas prices are up.
You know what's not up?
Meanwhile Little Andy Cuomo insists on making cuts to programs that help working and middle class people so that he can keep taxes on rich people low and Barack "Where Are The Goldman Sachs Campaign Contributions" Obama partners with the corporate whores in both the Republican and Democratic Parties to slash food stamp programs and raise taxes on families making less than $40,000 a year while extending the Bush tax cuts for wealthy people.
I just hope when this inflation hits - and make no mistake, it will - the right people get blamed.
Obama renominated Bernanke to the Federal Reserve. Bernanke has whirled up his helicopter and pursued a monetary policy that consists of showering the banksters with free money so that they can do their evil deeds, speculating on commodities and causing food and energy prices to soar.
Both men belong in jail.
When prices soar, I suspect the demagogues in the country will try and turn the blame for this inflation to unions and public employees, just as they have tried to blame the financial fallout of the Wall Street and bankster-created financial collapse of 2007-2008 on public employees and unions.
But this will squarely be the fault of Obama and the Obama administration, Bernanke and the Federal Reserve, and the Wall Street and hedge fund criminal class.
It will behoove those of us about to be tarred with this mess to get even louder about pointing this out.
Obama caused this mess.
Bernanke caused this mess.
Wall Street caused this mess.
The banksters caused this mess.
These people belong in jail.
Why aren't they in jail?