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If the cost of Oil Goes up would not the cost of all basic Commodities go up as well?
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Another big factor is the 'quiet' devaluation of the dollar. Since China's currency is pegged to ours, increased imports from China make the inflation numbers look lower than they really are. But many commodity prices have increased as a result - the Saudi oil shieks aren't stupid(and they don't buy Chinese cars). If this keeps up, pretty soon the Treasury department will have to start printing million dollar bills.
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