Skip to comments.World food prices hit record high
Posted on 02/03/2011 10:10:03 PM PST by Kartographer
World food prices rose to an all-time high in January, according to the UN's Food and Agriculture Organization (FAO).
The FAO's Food Price Index measures the cost of a basket of basic food supplies -- sugar, cereals, dairy, oils and fats and meat -- across the globe.
The index rose by 3.4% in January -- the seventh monthly increase in a row -- to its highest level since records began in 1990.
The cost of sugar, cereals, dairy and oils and fats all went up last month, while meat prices remained steady.
FAO economist Abdolreza Abbassian said high prices were likely to persist in the months to come.
Rising commodities costs are one of the major factors behind a growing wave of civil unrest across the Middle East and North Africa.
(Excerpt) Read more at cnn.com ...
Soon to be followed by Obama-ration.
Paging Ben Bernanke! Helicopter Ben, pick up the White Monetary Phone. Uncle Miltie is calling from above!
We are putting the corn in our cars to help ruin our engines.
Controlling the global obesity epidemic
Starving people revolt; obese people are revolting.
What is funny to me is that most of the protesters in Egypt are heavier than in years past.
Look Uncle Miltie he picked up the phone
Fed Passes China in Treasury Holdings (Soon Fed will hold more than China and Japan Combined)
No wonder Geithner called in all the Treasury secretaries for a dinner meeting this past Sunday.
The Federal Reserve has surpassed China as the leading holder of US Treasury securities even though it has yet to reach the halfway mark in its latest round of quantitative easing, according to official figures.
Based on weekly data released on Thursday, the New York Feds holdings of Treasuries in its System Open Market Account, known as Soma, total $1,108bn, made up of bills, notes, bonds and Treasury Inflation Protected Securities, or Tips, reports FT.
According to the most recent US Treasury data on foreign holders of US government paper, China holds $896bn and Japan owns $877bn.
And get this. “By June [the Fed] will have accumulated some $1,600bn of Treasury securities, likely tobe in the vicinity of China and Japans combined holdings, Richard Gilhooly, a strategist at TD Securities, told FT.
I hope you are ready for inflation. This is not going to stop anytime soon. Remember, Social Security, which used to buy up to 25% of all Treasury securities is now a net liquidator of them. If not the Fed, then who is going to buy this paper?
We are headed into an extremely dangerous inflationary period
Those fat cats have been friends of his for years
Baracks Wall Street Problem is Now Americas
JPMorgan CEO Jamie Dimon Donates Serious Cash to Democrats
I started getting ready for inflation in November, 2008, when it became clear that the Federal response to an economic emergency would be the profligate printing of dollars.
I’m in gold, oil, foreign stocks and bonds (unhedged), REITs, regular stocks (can increase retail prices as necessary), TIPS and short term bonds.
That’s as good as I can do without doing crazy stuff.
Plus, I’m literally buying dirt. And seeds. And guns.
Sounds like your on top of it glad to hear that. Our dollar is being devalued daily and things are only going to get worse.