Corn prices going up.
We shop frequently at the discount grocery, Aldi's. My wife is a good cook -- I haven't starved, but her baking-from-scratch skills have always been rather iffy. She likes the little box cornbread mixes. They used to a quarter per box. A couple of weeks ago, they were fifty cents.
Brand-name pork-n-beans are eight-six cents a can for the standard -- what is it? -- No. 3 can. Brand-name pinto beans in the same size can are ninety-two cents.
Meat prices may not soar immediately because many farmers -- including many dairy farmers -- are dumping slaughter cattle on the market in the wake of the drought and rising feed prices. Those who make it through the winter will be just about able to sell feeder calves, fed cattle, and slaughter cattle for whatever they want. The packers won't take the hit. The consumers will.
Add to that the escalation in commodities from the QE3 manipulation -- whether the Fed ever admits it publicly or not -- and you have a perfect storm of inflation.
I would not want to be president next year.