The greenback has been in freefall, and that means the prices we (Americans) pay for commodities just go higher.
A few examples: Oil is at an all-time high, having broken through $83 last week. 2008 could be the year we see Crude hit triple digits. Gold is at a 28-year high, having broken through $735, with $800 a realistic possibility. Copper is soaring.
Agflation is very strong: Wheat recently made all-time highs, along with recent big moves in Orange Juice, Corn, and Soybeans. Dairy prices are out of control, up nearly 100% over 24 months.
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