China’s Inflation Hits American Price Tags
Because of new cost pressures here, American consumers could see prices increase by as much as 10 percent this year on specific products — including toys, clothing, footwear and other consumer goods — just as the United States faces a possible recession.
I have bought nearly a lifetime's worth of clothing this month (think t-shirts, underwear, socks, sweat pants, sneakers). Most of it went directly into storage. First, it is still cheap. Second, the Christmas season was a bust so many of the things I bought were on sale. Third, I think most take it for granted that the things that have been deflating will continue to do so. I'm of the opposite belief. Clothing was one of the first to be outsourced. I would therefore argue that it is a safer thing to hoard. Much of the disinflation has already been squeezed out of it perhaps.
We also bought nearly a lifetime's worth of sheets. I'm not sure how the sheets will last but 14 sets (10 regular and 4 flannel) should cover me for a LONG time, lol. Once again, most are in storage.
Like toilet paper, clothing is about the cheapest it has ever been relative to gold and silver. I see very little downside in buying things while they are cheap. If they stay cheap, no harm done. If they become more expensive, there'll be little need to buy in the future. Win win.
Weekly Initial Unemployment Claims at 254,000 - The DOL reported: In the week ending September 24, the advance figure for seasonally adjusted initial claims was 254,000, an increase of 3,000 from the pre...
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