Wednesday, July 6, 2011

The Crisis We Should Be Panicking About

The global debt crisis has sparked riots in Greece and elsewhere in Europe, but while you were watching the mayhem on TV, you might not have noticed that there’s a riot brewing at your kitchen table, according to CNBC.

Bacon prices are expected to soar this summer — just in time for peak BLT (bacon lettuce and tomato sandwich) season. BLT season goes into full swing in July across much of the country as tomatoes start to ripen and, if you’re like Jason Perlow, who writes the “Off the Broiler” blog, by August, BLT’s will have become “major meals” instead of just a quick lunch.

But this year, just as the U.S. is worrying about its own debt crisis and a possible "double-dip" recession, the price of bacon —that sizzling, smoky comfort food we most need during tough times — is expected to surge. The price of pork bellies, which is where bacon comes from, jumped to more than $130 per hundredweight (100 pounds), and some analysts suggest it’s going to top last August’s level of $150.

“It’s going to be pretty tragic when you have your fresh ripe tomatoes and can’t have bacon for your BLT,” said Jason Mosley, author of the Mr. Bacon Pants blog and co-star of the “Bacon Live” podcast.

Seriously...there's more at http://www.cnbc.com/id/43611656

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