Some Scary Economic Times

Recent April 2008 news headlines of food, energy and housing problems are alarming …

Era of cheap food ends as prices surge

— timesonline.co.uk

Bay Area Shoppers Asked To Limit Rice Purchases
— NBC11.com

Update: Wal-Mart’s Sam’s Club limiting sales of rice
— Reuters.com

Wal-Mart Stores Inc’s (WMT.N: Quote, Profile, Research) Sam’s Club warehouse division said on Wednesday that it is limiting sales of Jasmine, Basmati and long grain white rices “due to recent supply and demand trends.”

The news comes a day after Costco Wholesale Corp (COST.O: Quote, Profile, Research), the largest U.S. warehouse club operator, said it had seen increased demand for items like rice and flour as customers, worried about global food shortages, stock up.

Gas prices rise further above $3.50, while oil nears $120
— biz.yahoo.com

California foreclosure “surge”: Up 327% from ’07 levels
— Los Angeles Times