let them eat cake.
Frankly, this may be a little harsh, but I couldn’t care less about Egypt... or All of Africa or the Middle East, for that matter.
Decades of economic assistance have done nothing for us, and we are hated by the very people we are trying to help. Eff ‘em. They can starve or kill each other, for all I care.
I hope all of the Jewish liberals are really proud for voting for Obama and all the anti-Israel Democrats that have now SUNK and DESTROYED Israel!!
As for the 99% Blacks that voted for this puke, well one anti-Semite knows another.
A bit of a reach there. Not a lot of corn goes to the ME.
Exactly. Our gov’t has been thinking to inflate their way out of debt until our economy “catches up”. The reality that their idiocy is going to cause third-world hunger and therefore wars... all seems academic to the administration, because so many of them are so... academic. I’ll bet that some of them though were not at all surprised, IYKWIM.
bump
All commodities have risen astronomically in the past few years, but the state media reports none of it. Business channels show the numbers, but it’s all just blah, blah, blah, they don’t connect any political dots. So basically as this has been going on the most that the bulk of Americans have noticed has been higher prices at the supermarket.
Wheat?
I can't eat that stuff. Certainly plenty of it leftover for someone else.
I’m old enough to remember saying, “some day, bread will cost a dollar a loaf and gasoline will hit $.50 per gallon, cigarettes $.50 per pack”
Decades ago they banned DDT and each day thousands of innocent people of color across the globe die from malaria.
Now they are starving the innocents of color around the globe to death with their mythanol policies.
"To be fair, not all of the food inflation can be blamed on the Fed. A good part of this problem can also be placed at the doorstep of bipartisan U.S. policies to subsidize ethanol."
"According to the Wall Street Journal, in 2001, only 7% of U.S. corn went to ethanol. By 2010, the ethanol share was 39%. So instead of growing wheat, our farmers are growing corn in order to cash in on ethanol subsidies."
Hrmmmmm, can somebody explain the corn ~ wheat link? Or are they talking ‘bout the cornbread shortage?
Good Question.
Yes Ethanol has been part of the equation but consider this;
The cost of anything in this world to a significant degree is based on the fuel to produce it and the fuel to move it.
The very governments who are at risk over high food prices are the same ones who have been jacking up the price of oil for 30 years.
Since the 1st oil embargo in the 70's some folks have pushed for a tit-for-tat, oil-for-wheat system of exports to get back at those who produce oil and nothing else. Fact is that system has always been in place and now we are seeing the payback.
There are really three main drivers of rising food prices here, the two Kudlow discussed, and one other.
1) Helicopter Ben’s financial policies which have created commodity price inflation.
2) Ethanol subsidies and mandates. Burning food! Such a great idea! What could go wrong!?
And finally, not discussed by Kudlow, and quite important,
3) Huge shortages in the Russian wheat crop in 2010.
Egypt in a normal year imports a *lot* of Russian wheat.
Drought ruins Russia wheat, U.S. says no world crisis
Thu Aug 12, 2010
http://www.reuters.com/article/2010/08/12/us-russia-heat-idUSTRE6751T820100812
Russia Wheat Export Ban Pushes Prices Near 2-Year High
August 6, 2010 at 3:15 PM EDT
http://www.pbs.org/newshour/rundown/2010/08/russia-export-ban-pushes-wheat-prices-near-two-year-high.html