The odd thing about the inflation in food prices is that our own federal tax dollars are being paid to farmers to let 38 million acres of land sit idle and not be planted. ********************************************************* If this was done to support prices (and it was) then one would think that with the global shortage in these areas the farmers would simply plant the fields and sell the grain for export.
Are you nuts? (no offense). Common sense and government cannot exist in the same room. You can bet Con Agra, ADM, hedge fund managers, etc are all in on this? So why isn't the land being used for corn production for the stupid government subsidized ethanol boondoggle?
Look at the price of fertilizer ($245/ton in 2007 vs $873/ton in 2008 on average) now compared to last year. Yes, it is oil related, but the demand / supply for oil hasn't increased 200% in one year.
It's all tied together as a conspired forcible economic rape of the American citizen.
Why isn't the government cutting spending at this very moment? The economy is already in a serious bout of stagflation heading for a serious recession.
Cut taxes and that will inject money into the economy....works every time.