Wall Street Journal: “It’s time for Americans to start stockpiling food”

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“No this is not a drill” warns Wall Street Journal columnist Brett Arends as he lays out his reasons why he believes Americans need to start stockpiling food. Thankfully, hunkering down in the face on an impending apocalypse is not the reason, rather, Arends says stockpiling food will make a shrewd investment:

If you keep your standby cash in a money-market fund you’ll be lucky to get a 2.5% interest rate. Even the best one-year certificate of deposit you can find is only going to pay you about 4.1%, according to Bankrate.com. And those yields are before tax.

Meanwhile the most recent government data shows food inflation for the average American household is now running at 4.5% a year. And some prices are rising even more quickly. The latest data show cereal prices rising by more than 8% a year. Both flour and rice are up more than 13%. Milk, cheese, bananas and even peanut butter: They’re all up by more than 10%. Eggs have rocketed up 30% in a year. Ground beef prices are up 4.8% and chicken by 5.4%.

Sounds pretty fucking stupid to me, but of course I’m one of those people who keeps food to actually EAT, not as an investment.

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