Something has changed in the last 9 months. Gary isn’t sure what it was, but he has people disagreeing with him already. However, they are at least respectable. Brent Crude Oil is up near 83$, and Light Crude is up to 73$. This all led to a terrible tax on the lower-income people and families across America. Just as bad is the tax it will take on drivers, airlines, and even cruise lines. Every 10¢, the pump will be $10 billion out of the consumer’s pockets in just expenses. We already see these effects in the recent spike in gas prices at the pump. Gary laughs because he knows this will take a while to recover as it goes up quicker than it goes down.
Oil prices are not the only things we see rising in the current state of the pandemic. For example, cotton is up 20% in the last two weeks for a total of 60% over the previous 2 years. Coffee prices have seen a rise near 60% of what they were last year. Corn itself is up 50%, leading to ethanol fuel price hikes. Gary is worried about the people who can’t afford things already and are barely scraping by. Inflation has not been on the rise the last few years, but it’s time we start talking about it.
Investor’s Edge with Gary Kaultbaum can be heard on weekdays on MoneyTalk 1010. Gary Kaltbaum is a registered investment advisor with more than 30 years of experience in the markets. He is the owner and President of Kaltbaum Capital Management, a financial investment advisory firm headquartered in Orlando, Florida. He is a Fox News Channel Business Contributor regularly appearing on Fox News Channel and the Fox Business Network. In addition, Gary is the author of the book “The Investors Edge” and the host of a nationally syndicated radio show with the same title, “Investors Edge,” broadcast on numerous stations across the U.S. The show is also available on-demand and airs live 6-7 pm EST Monday-Friday. You can hear past shows online at garykaltbaum.com.
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