Thursday, October 28, 2010

The Fed is fuelling the catastrophe of fast rising raw material prices

http://www.telegraph.co.uk/finance/comment/jeremy-warner/8090590/The-Fed-is-fuelling-the-catastrophe-of-fast-rising-raw-material-prices.html


It's called inflation and the Federal Reserve and Central banks (help) are the reason it's rising.
Their economic fix is making your meager life unaffordable.


The answer to this question, according to a recent OECD and UN Food and Agriculture Organisation report is a definitive no; global agricultural production is on track to satisfy the expected long-term increase in demand, the OECD reckons.

Yet it's little thanks to public policy, which in combination with the current craze among financial speculators for commodities, seems hell bent on driving up prices to what for millions of the world's poor may be starvation levels.