John Rubino: Buffet buys gold, food inflation, California's wealth tax, the collapse of NYC/Chicago

Food prices rising:

"From February to June, meat and poultry prices rose nearly 11%, with beef and veal prices seeing the highest rise, spiking 20%. For pork the increase was about 8.5%. People are paying more for other staples, too: During the same time period, egg prices shot up 10%, and shoppers shelled out 4% more for cereals and fresh vegetables."

California on verge of passing wealth tax and is considering big increase in income tax- would raise top income tax rate to 16%

Are Chicago and NYC over? Chicago shutting its downtown at 9pm each night, NYC sees massive increase in shootings, subway system going bankrupt, apartments empty, people moving out in droves.

Sound money caucus forms in Congress - better late than never

John Rubino is the founder and manager of the popular financial website DollarCollapse.com. Mr. Rubino is the co-author, with GoldMoney's James Turk, of The Money Bubble and The Collapse of the Dollar and How to Profit from It. He spent the 1980's on Wall Street as a Eurodollar trader, equity analyst and junk bond analyst. During the 1990's he was a featured columnist with TheStreet.com and a frequent contributor to Individual Investor, Online Investor, and Consumers Digest, among many other publications. He currently writes for CFA Magazine.