Posted on 02/01/2011 5:03:46 PM PST by Kaslin
Decades of autocratic government and a lack of free elections are, of course, the main drivers of the political upheaval in Egypt. But did the sinking dollar and skyrocketing food prices trigger the massive unrest now occurring in Egypt — or the greater Arab world for that matter?
In addition to Egypt, the people have taken to the streets to varying degrees in Algeria, Jordan, Libya, Morocco and Yemen. Local food riots have even broken out in rural China and other Asian locales.
While the mainstream media focus on the political aspects of this turmoil, they are overlooking the impact of rising inflation, driven mainly by record food prices. For example, former Bush adviser Dan Senor notes that Egypt is the world's largest wheat importer. Yet because of skyrocketing prices, Egyptian inflation is now over 10%, while some experts estimate that Egyptian food inflation has risen to as much as 20%.
So I have to ask this tough question: Is Ben Bernanke's ultra-easy QE2 money pump-priming partially to blame?
Commodities are priced in dollars, and the Federal Reserve has been overproducing dollars for more than two years. Consequently, emerging markets throughout the world — and the food sector in particular — are suffering from rising inflation.
(Excerpt) Read more at investors.com ...
We don’t send alot of meat to Eygpt. We don’t have that many plants that can.
You’ve gotta read the whole piece. They eat wheat over there. Lots of American farmers (from 10% a decade ago, to almost 40% now) have gone from planting wheat to planting corn....for the subsidies.
meh
Pretty much how welfare works - you feed the poor thinking you're doing the right thing, but instead, you're merely feeding your enemy and allowing them to strengthen.
I believe that the ethanol scam was a deliberate attack on 3rd world populations, in keeping with Agenda 21.
They didn’t stop planting wheat to get corn subsides. They stopped because corn is a much higher yield crop that is more tolerant than wheat.
Trust me. My Grandpa hated government money, and had stopped growing wheat long before I was born. The reason? He got tired of losing one in five crops.
If TPTB had to admit ‘inflation’ was present, it would mean unpleasant measures would be required and even more unpleasant consequences for us.
It’s going to happen. The only question is when.
I’ve adopted the attitude that the less I have, the less I have to lose. I’ve been poor before.
Stem rust (Ug99) is a major factor in the ME wheat production difficulties.
Why is it always ‘American’ farmers’ greed (wanting subsidies) that’s to blame? Doesn’t the Middle East have the Nile, the Mesopotamia bread-basket, and all that idle agricultural real estate in Africa that European farmers where run off of? Is it America’s fault those yahoos can’t stop stoning each other long enough to grow a freaking crop or two?
We do not need to directly export corn, or meat, to Egypt to make a deal ~ and the ME is where they invented that sort of thing.
It's one of their art forms.
Someone should tell that to kissinger
If the federal government was not paying farmers to grow corn a lot of the corn land would be producing two crops of wheat each year. Since it cost less to grow.
If the federal government was not paying farmers to grow corn a lot of the corn land would be producing two crops of wheat each year. Since it cost less to grow.
“If TPTB had to admit ‘inflation’ was present, it would mean unpleasant measures would be required and even more unpleasant consequences for us.
It’s going to happen. The only question is when.”
It has already begun here they just don’t report on food/gas inflation anymore but you see it for yourself at the check out and in the reduced packaging.
Let them eat cake or their oil. We should cut off all aid to muslim countries. You can’t buy people into liking you and I think after the billions we’ve given to these ingrates proves that point. Let their idol allah take care of them.
By the time TPTB admits there is inflation, it will be too late.
Are you a farmer?
Again, wheat doesn’t yield as much, and you have failed crops much more often than corn.
And here on FR we often get the popcorn out:)
My daddy was a farmer and yes I live on a farm. Now it is not about yield it is about rerun on investment. If you take out the welfare payments for growing corn, the farmer needs to grow what he can put in the ground the cheapest that will give him the most return. Corn is produce by mostly commercial farmers that lease as much land as possible for the million dollars of equipment it takes to produce thousands of acres of corn. So where is your farm?
Eastern Nebraska, north of Omaha a ways.
Though I think Dad is getting out of it this year, and I am not in a situation where I could go back. Not enough land or money to make a go of it.
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