There has been a Russian wheat crisis and harvest problems in Europe. This means purchasing a pint of beer in Europe is now going to cost about $ 6.30. But what's worse is that bacon prices are going up. CNBC explains that bacon costs 20 percent more than it did last year. The prices rising is a good thing considering the U.S. economy. Of course you will find some people a little upset by the whole idea of paying more for bacon.
Article resource -Rise in bacon prices a squealing good sign for the economy by Personal Money Store
$ 4 per pound is how much bacon costs
The Department of Agriculture claims the steep bacon price increase over the past year is the result of a classic supply-and-demand situation. The recession has caused more to get rid of their pigs. Tomatoes are presently ripe, so BLT sandwiches are a hot item – and thus there's a need for more bacon. The National Review has gone as far as to call this culinary conundrum "Obama's Next Crisis."
Bad for the few, but great as a whole
The National Review didn't explain all the good things that come from this. Consumers are seeking to invest more of their carefully hoarded money in bacon and bacon-related products – essentially, luxury items. The economy will likely do better considering this outreach for luxury items. It was said by Rich Nelson of Allendale, Inc. that "They may not be purchasing steak rather than hamburger, however they will put bacon on their hamburger or other things." This is good news.This has caused restaurants to change their menus. Bacon tends to be in numerous new items.
Demand makes for a fattening
Pig farmers will no doubt respond to increased demand by expanding their hog stocks. Nelson feels like prices will go down. This should happen by mid-2011. In the interim, some consumers may settle for the generic bacon brands, which are generally fattier and leave eaters with less meat after cooking as the fat melts away. According to Jason Mosely of Mr. Baconpants, "Your BLT deserves the best bacon you can afford!" even though most know the economy must be recovering because of the greatness of bacon, including CNBC's Heather Lauer. Hopefully this means that most plan to celebrate International Bacon Day patriotically. It is September fourth. This really is the case.
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CNBC
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The only problem with bacon is that it makes you thirsty… for more bacon.
youtube.com/watch?v=CaK9bjLy3v4