Food inflation is caused by quantitative easing by the Fed and unchecked agricultural speculation as well as by crop failures. People do tend to get cranky when food prices soar. Especially when they have little money to begin with.
Rising food prices contribute to popular uprisings in Egypt, Tunisia, Yemen.
Food inflation in India at 19.5%.
Record food prices cause Africa riots, help US farm exports.
Aha, now we’re getting somewhere. US agriculture is doing great because of soaring prices. So, along with bad weather and failed crops, what else could be causing rising prices?
Why, lookee here, it’s our very own Federal Reserve.
US financial speculation in commodities is certainly making things worse, says Danny Schechter on al Jazeera.
Davos leaders warned on speculation in agricultural commodities but of course got all twitchy when the subject of regulation was brought up.
So, the usual suspects appear to have moved on from the catastrophe they caused in real estate into creating a bubble in food. You think they care if people starve because of their actions? Why of course they don’t.