April 24, 2008

Costco and Sam's Club Limiting Bulk Rice Purchases

artthairiceafpgi.jpgI just saw this today.

Costco is limiting bulk purchases of 50 lb. bags of rice, while Sam's Club is limiting purchases of 20 lb. bags. As all the 44's would probably guess, the reason behind the rationing is the soaring energy and commodity prices in the global market.

It's obviously going to put the pinch on American consumers as energy prices continue to soar with no end in sight. Adding the problems with the unseasonal weather, it looks like food will continue to go up. The world's poor are suffering most of all, and if this continues, people at the bottom rung of America's middle class will begin to enter the ranks of the poor.

I don't know what the solution is. My gut feeling is that the solution has something to do with better technology and fuel sources to help India and China with their rapid growth, but we should have been investing in these technologies five years ago when Dubya first accused us of being addicted to oil. Hopefully our new president, whoever it is, will prioritize education and research, and hopefully he or she won't be afraid of offering incentives for people and businesses to begin using these new technologies.

No comments: