Posted on 03/02/2011 8:19:13 PM PST by RonPaulPittsburgh
When the upswing in commodity prices eventually makes its way throughout the food system in mid-to-late 2011, food prices are sure to spike with levels potentially reaching those of 2008, announced U.S. Department of Agriculture (USDA) economist Ephraim Leibtag at the agency's annual Outlook Forum. And if conditions escalate rapidly, there is also the potential for food riots and other civil unrest.
The USDA is predicting a 3.5 percent increase in food prices in 2011, which is about twice the overall inflation rate but less than the 2008 increase, according to a recent Reuters report. In 2008, food prices rose 5.5 percent, which represents the highest increase since 1990. But the possibility of food prices dramatically rising in 2011 like they did in 2008 is a definite possibility.
"Given that it's still earlier in the year, I'm prone to be conservative on the side of the forecast," said Leibtag. "It's a possibility," he added, concerning the likelihood of massive inflation in food costs like was seen in 2008.
(Excerpt) Read more at uniteandstate.com ...
It's happening by design in the sense that President Cloward-Piven's only goal is to overwhelm the system.
Take Carter and multiply by 4. Carter was a spineless leftist, Islamic panderer and fool. He wrecked the economy with his weakness and incompetence.
This time it is by design. Sadly the fools who watch TV support the regime with their viewership as ALL TV loves him. The public has no clue what is going on. TV is there to keep em confused like sheep.
When you’re hungry enough, you’ll eat ANYTHING.
I tell that to every Vegan I meet.
Agreed....
Definitely by design.
The sissy-boy hates this country and is doing everything in his benefactors’ power to destroy it.
The next lobster he eats is gonna cost us taxpayers a million.
Hope he chokes on it.
How many people here still think we’re going to resolve all of this without armed rebellion? Just curious.
I remember the gas lines and inflation but there’s a big difference more people were employed and wages were rising. People also were earning decent interest rates on their savings. This is much worse kids. As far as the Middle East was that a two fer? They knew about food inflation there were reports and banana ben & timmy tax cheat geithner can deny it all they want and tell those countries to de-peg from the dollar but that’s easier said then done.
I would say they wanted the middle east destabilized and keep in mind our debt is being monetized so that allows obama to keep spending. I hope you are all prepared for hard times.
We had something called the misery index which was composed of the inflation rate, unemployment and interest rates but for some strange reason the Media is totally refusing to talk about now much less use...On your point about this being a deliberate program, I would totally agree with that. Either they are 100% pure stupid or 100% Evil and evil is a 10-1 favorite in my book
Yeah, if Moochelle keeps telling people to eat twigs and berries, there’s gonna be a food riot for sure.
I love that
summed up perfectly. Thank you for the insight neighbor.
I think they wanted the ME in uproar because they knew inflation (after the monetization) was going to drive gas prices through the roof. The ME is now a handy excuse.
Milk has gone from $2.59 to $3.19. Gas from $3.20 to $3.75. This is in the last 6 months and it started before the “unrest” in the ME.
I had a money market account during those years that earned 20% for a few days, and 15% or better for quite a few months.
That is a seldom mentioned aspect of this recession/financial crisis: people are earning next to nothing on savings. It's cost me several thousand dollars in the past few years on just uninvested MM balances that earn practically nothing, and once stayed above 5% year after year. This is costing small savers and retired folks billions per year; their forced contribution to all the bailouts.
This is due to the freezes in Florida, the SW and Mexico, but celery that had sold for $1.29 for years ($.99 on sale) was raised to $2.69 this week. Squash and some other fresh vegetables had comparable increases.
I have never seen food prices this high so I can see the validity in this story. I imagine that doomsy sounding stories are easy debunked, I just thought it was interesting because I have seen some crazy prices lately and nothing like that in my lifetime has happened.
Stockpile staples while they can still be bought at reasonable prices. Obviously, bread, milk, eggs and fresh meat are problematic, but most dry and canned goods have multi-year shelf lives. The dry goods can be extended by vacuum sealing and freezing (to kill weavel larva if present - they don’t need to be kept frozen), as well.
I’ve been loading up a few extra items each week at Walmart or Safeway, mostly canned meat/fish products, crackers as a bread substitute and anything that can be made by adding just water and breakfast cereals. Pasta and sauces are a good choice, too. Evaporated milk can be reconstituted, meats, eggs and cheese can be frozen, and dry rice and beans will keep as long as it’s kept cool and dry. Soups are good, especially hearty ones that can be extended with rice or beans into a meal.
Anyone with a family to feed and has the financial where-with-all that isn’t doing this now is being negligent of their families needs.
Basic clothing is up quite a chunk too. I’m glad I stocked up on work clothes when I did. I think I bought 10 pairs of jeans for 9 bucks each and 16 long sleeved shirts for $9.20 each. Two pair of steel toe boots too, and 5 bib overalls. 3 heavy insulated snap shirts too, and 3 union suit long underwear. Now I wished I’d doubled everything.
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