Wednesday, July 9, 2008

On Inflation

25 lb bag of jasmine rice 6 months ago: $11.50
Same bag of rice bought today: $21.50

There's a Chinese colloquialism that goes something like "I fear x more than the price of rice increasing." Well, it turns out that the fear is now coming to fruition.

In other news, last night I paid $47.53 to fill my gas tank. I know that higher gas and food prices are the product of myriad of global forces, and that in many ways, expensive fuel will serve to reshape and improve the way we use environmental resources. However, it's still hard to adjust to a higher baseline price when something has historically been "cheap." At the rate that oil has been skyrocketing, I'm pretty sure the gas in my tank is accruing value faster than the money in my savings account.

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