or maybe the packages get smaller. why is toothpaste? even some of these things that go into beauty products, those have been going up. apparel, cotton prices are at record highs, they have more than doubled. this is a great cnn money story, you re going to see chintzy t-shirts and jeans that have fake pockets. i don t eat meat, i don t eat breakfast, i use baking soda and i don t have a refrigerator. what s the top ingredient in corn flakes? corn, right? or is it actually labor? that s a very good point. you look at refrigerators, whirlpool, lg, are going to be raising prices. one of the reasons is they have moved overseas, guess what prices are rising, it s also costing more to ship stuff halfway around the world. labor prices are going up from the quote, unquote cheap labor market. good to see both of you. as always, a very animated discussion. it s the first time i have ever seen pete dominic play
top ingredient in corn flakes. that s a very good point. you look at refrigerators, whirlpool, lg, are going to be raising prices, they have moved overseas, guess what prices are rising, it s also costing more to ship stuff halfway around the world. labor prices are going up from the quote, unquote cheap labor market. good to see both of you. a very animated discussion. it s the first time i have ever seen pete dominic play economist. it s politics. from politico pundits to economists, everyone including pete had something to say about president obama s budget. now it is my turn. i will reveal my open letter to president obama after this break. ring ring ring ring