Posted on 04/01/2011 2:25:19 PM PDT by blam
IMF Says 10% Increase In Food Prices In Poor Countries Means A 100% Increase In Riots
Friday, April 1, 2011
IMF economists, Rabah Arezki and Markus Brueckner, are out with a new study. They looked at food prices and political unrest between the years 1970 and 2007, and found data which points to indications that a 10% increase in international food prices corresponds to an added 0.5 in anti-government protests over the following year in the low-income world — a 100% increase from the annual average.
You have to take empirical studies with a grain of salt, since there are no constants in the realm of human action. Just because something occurred over the last 37 years, it doesn't mean it will occur in year 38. However, empirical studies may point us toward underlying cause and effect relationships we may want to study. Although Arezku and Brueckner studied only food prices, it is hard to imagine that food prices climbed in a vacuum in most of these cases. It was probably full out double digit price inflation.
So although Fed economists may think that there is no problem with inflation and that it quickly finds its way through the entire economy, not hurting anyone, they may want to take a shot at an alternative explanation as to why the masses seem to get pretty upset when prices climb by more than 10%.
May the strongest survive...
Oh gee, this is such a surprise, who knew, uh?
Not our problem. We have hungry people at here. Defund the alphabet agencies and cease ALL foreign aid.
Starving people lead to riots. Wow, would never have guessed. But not to worry. By 2050 our energy consumption will go down 5%. And it will only cost 2 trillion dollars.
Let them eat windmills.
Not to worry.
A modest investment in Archer Daniels Midland common will hedge the food cost increase.
Walmart up and so is Hershey’s chocolate. Hershey’s also announced due to sugar doubling in price, they’re having to raise their candy prices 10%... amazing this comes just in time for all the Easter candy sales.
Victory over inflation gardens!
Let the private sector do it better and cheaper. If they serve biblical teachings as a side, even better!
I heard from two people that their banks won’t be offering CDs anymore. Not a direct cause and effect but I suspect there’s a connect the dots.
What about gas prices that have doubled since Obama was elected?
IMF Says 10% Increase In Food Prices In Poor Countries (and in Burger Kings in the USA) Means A 100% Increase In Riots
Fixed the headline.
Yeah, sounds like extortion. Pay up or you’ll see more riots.
No mystery where this is going. I’m sure it ends with a pitch for Uncle Sucker to fork up a couple hundred billion in food subsidies to stabalize prices and avert all these ~scary~ riots.
Lets keep burning Corn.
This world my return to caveman days where it is the survival of the fittest.
Meant to type “may return to caveman days”.
That might not be so bad. Liberals are soft and fat (like Michael Moore).
And just think how interesting life becomes once you comprehend that you may not live to nightfall unless you are very clever, very fit, and very focused.
Much better than anything Hollywood can create!
Does anybody remember the race riots of the late 60’s; sections near ghettos were looted & burnt; kinda open war in some areas from both sides. Wonder what will happen when White People get upset and hungry? Heck I have friends I believe they can’t wait for the time to come; nutty but true.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.