If inflation continues to soar, you’re going to have to work like a dog just to live like one.
This is an excerpt of an article that was originally published yesterday as exclusive content on another site. You can read the whole thing on Seeking Alpha.
The Food Crisis of 2011 (Excerpt)
Our overview of 2011 What Ifs concentrated on the concepts of bifurcation and biflation. Those themes are already playing out just a couple of weeks into the New Year. Inflation in all types of commodities has ramped up even further, leaving countries like China, India, Brazil, Thailand and South Korea to deal with more than their fair share of these inflationary forces. Meanwhile, easy monetary policy in the U.S. and Europe just adds fuel to the inflation fire.
The United Nations food agency (FAO) kicked off 2011 by announcing that December of 2010 saw food prices eclipse the record levels hit during the 2008 food crisis, which triggered riots in Egypt, Cameroon, and Haiti at the time. The current spike in food prices has already caused violent food riots in Algeria, Tunisia, Morocco, Yemen, and Jordan. . . . Continue reading on Seeking Alpha . . .
The article goes on to look at just how much commodities have risen, as well as some of the weather events, financial issues, and demand factors that are driving the rise in prices and the resulting food crisis. Have a look and feel free to comment here, or on Seeking Alpha.