Great news America – After soaring to the highest price in three years, wholesale prices for pork bellies, the cut used for making bacon, are heading for a 25% loss over two weeks.
As Bloomberg notes, increased demand had more than doubled prices since August, but now bellies are so expensive that the high costs are stemming demand, according to David Kruse, president of Commstock Investments Inc.
And while the average joe may see his so-called pocketbook better off as pork prices plunge (or will obviously purchase more bacon), the above-average-joes (who drive their Beamers and Benz's) are facing an ever increasing cost for their luxury lifestyles…
The premium gasoline that fuels luxury cars made by Mercedes-Benz to Audi has always been more expensive than regular, but the difference keeps getting bigger.
As Bloomberg points out, premium costs almost 50 cents a gallon extra, nearly doubling in the past four years. And don’t expect the trend to change — environmental rules limiting sulfur that kicked in this year could make the higher-octane fuel scarcer and even more costly in the future.
So, it seems very clear that consumer confidence is soaring because bacon prices are plunging, not Trumptopian hope…
Never mind the collapse in real wages.