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The Last to Know

Like a baby bird breaking out of its shell, reality has begun to peck its way through the brittle veneer of corporate news. The Wall Street Journal informs its readers: Load Up the Pantry.

Reality: Food prices are already rising here much faster than the returns you are likely to get from keeping your money in a bank or money-market fund. And there are very good reasons to believe prices on the shelves are about to start rising a lot faster.

“Load up the pantry,” says Manu Daftary, one of Wall Street’s top investors and the manager of the Quaker Strategic Growth mutual fund. “I think prices are going higher. People are too complacent. They think it isn’t going to happen here. But I don’t know how the food companies can absorb higher costs.”

Very interesting. “People are too complacent. They think it isn’t going to happen here.” Hmm. How could that have possibly happened? Perhaps because the corporate media has spent billions and billions of dollars distracting people and dumbing them down, filling their heads with all sorts of nonsense and encouraging them to buy more and more stuff they didn’t actually need? Not too long ago I heard some whack jobs on Fox News telling people to use Bush’s forthcoming check to buy new shoes and flat-screen tvs. That’s the kind of advice you can expect from Fox News — advice that will totally screw you and your family.

Well, it’s kind of them at the WSJ to tip off the folks that they should buy some extra pasta and beans. That’s a good tip. Of course, those of us who follow alternative news have known to stock up the pantry for quite some time now, and we stocked up our pantries before the food prices rose. But all the same, it’s good to see the big guys are catching on.