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News and events from around the world
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The more that time goes by and events form up, the more I realize that my conspiracy theorist friends may have been right all along. I recall not that long ago when they were telling me that food prices in the US were going to go up and stay up, and that seems to be what's happening today according to this article.
An era of cheap food may be drawing to a close
Reuters poll: Higher grain prices will persist, spurring more global unrest
By KT Arasu
U.S. grain prices should stay unrelentingly high this year, according to a Reuters poll, the latest sign that the era of cheap food has come to an end.
U.S. corn, soybeans and wheat prices -- which surged by as much has 50 percent last year and hit their highest levels since mid-2008 -- will dip by at most 5 percent by the end of 2011, according to the poll of 16 analysts.
The forecasts suggest no quick relief for nations bedeviled by record high food costs that have stoked civil unrest. It means any extreme weather event in a grains-producing part of the world could send prices soaring further.
Read more here.
An extended drought in China is pushing up food prices. In the most populous country in the world, where their economy is booming, food is becoming a major issue.
As with the demand for oil in China drove prices ever higher, we'll be seeing the same thing happen with food.
Extreme weather pushes food prices higher
Crops lost to flooding, drought crimp already-tight grain stocks
Among the economic havoc brought by this winter’s extreme weather, none has been more severe than the impact on the global food supply chain.
Over the past few years, rising global demand for crops and production shortfalls have whittled grain surpluses to historically low levels. As extreme weather continues to cut production, those surpluses have shrunk further and forced prices higher.
Read the article here.
And it is only going to get worse before it gets any better.
Actually there is nothing to worry about. The higher prices for everything is all an illusion. And that is because Mr Bernanke says inflation is not happening and is not a problem. His private bank (Federal Reserve) will keep printing mountains of worthless money and loaning it to the US with high interest and there will continue to be no inflation. We are all safe.
Bernanke says there's no inflation so it must be true. Any higher prices that you see, don't believe it! The higher prices are not real. It's all a dream. Wake up!
I agree bro. time to wake up. these people don't care about you and are going out of their way to screw you.
Some say its not right to judge, but these dudes are evil. They want you to suffer...and for what? what do they really gain at the end of the day? money, power? what is that anyways? nothing...sociopaths. all of them.
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