ok folks, expect higher retail prices for all consumer goods from now on. no, i am not talking about the ridiculous u.s. government policy of promoting ethanol that is causing most food products (milk, corn, soybean, wheat, beef, pork, cheese, etc) to go up in price as much as 50% in recent months. if this policy wasn't enough of a blow to consumers, supreme court recently made a ruling that entitles retailers and manufacturers to price fixing.
i know this is a supreme court decision, but let's hope that this decision had nothing to do with politics or big money contribution of well-heeled corporations like in the ethanol case.
here is the article on the topic
http://www.forbes.com/2007/06/28/retail-pricing-walmart-biz-cx_bw_ls_0628scotus.html
interesting write up on this topic
http://globaleconomicanalysis.blogspot.com/2007/07/supreme-court-oks-price-fixing.html
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