Cotton tops $1/lb; clothing, textile mills pinched

[crgarcia]

Quote from JJacksET4:

"High cotton prices have squeezed clothing makers in the United States and around the world."

Yeah, right - how much worth of cotton is in a dress shirt they sell for $20 - 10 cents? 20 cents? Must be tough to mark up items that much!

JJacksET4

100% agree.

Quote from nazzdack:

Don't forget to take into account the advertising, transportation, packaging, mannequins and rude customer service when you're buying that shirt.

LOL @ rude customer service.
So damn true.

 

[KINGOFSHORTS]

All that demand for printing currency as well. At least our dollar is printed with cotton so our currency is not technically a fiat currency since it is based on cotton.

 

[peilthetraveler]

Quote from KINGOFSHORTS:

All that demand for printing currency as well. At least our dollar is printed with cotton so our currency is not technically a fiat currency since it is based on cotton.

A 1 dollar bill (actually any bill) weighs almost 1 gram. A bill is 75% cotton. Therefore $605 dollars in 1 dollar bills is worth 1 dollar (or 1 pound) of cotton.

If the government wanted to pay off the 13 trillion dollar deficit with $100 bills, they would have to spend over 214 million dollars to buy cotton to print it.

 

[fullblotter]

Quote from Debaser82:

Jim Rogers been long cotton for a decade now.

Nice one Jimmy.

didn't you hear? jim rogers is simultaneously long everything at the bottom and short everything at the top.

the man's a genius, what can you say. and yet he manages to keep his folksy, aww shucks attitude somehow...

 

[zdreg]

a few months ago rogers called the euro a buy at 1.21 and it went over 1.33. usually his recommendations take time to work out. what is humorous is the insults he receives on this board.