Tuesday, October 26, 2010

Global food crisis forecast as prices reach record highs

http://www.guardian.co.uk/environment/2010/oct/25/impending-global-food-crisis

Harvests are better and the global food stock is better, but our food is going to sky rocket.
Does that make sense to you?
Some things should not be traded "for profit".
Food is one of them.
You can't just walk away, if the cost of food goes to high.
It a basic necessity that no one can do with out, no matter how rich or poor you are.
Like electricity, there should be price controls set.
Speculators have no business being able to drive up the costs of the everyday essential areas that a human needs for basic survival.
Greed is driving this run, that and the dollar's buying power, which is so heavely weighed down by debt, that it buys virtually nothing.
And it will buy even less when the FED releases QE2.


Cost of meat, sugar, rice, wheat and maize soars as World Bank predicts five years of price volatility


However, opinions are sharply divided over whether these prices signal a world food crisis like the one in 2008 that helped cause riots in 25 countries, or simply reflect volatility in global commodity markets as countries claw their way through recession.

"A food crisis on the scale of two or three years ago is not imminent, but the underlying causes [of what happened then] are still there," said Chris Leather, Oxfam's food policy adviser.

"Prices are volatile and there is a lot of nervousness in the market. There are big differences between now and 2008. Harvests are generally better, global food stocks are better