Santa Monica, California, USA
Hi John and all! Been reconsidering my thoughts about your thread on food shortages and riots in light of most recent rice, corn, and beans nightmares.
I admit I'm stumped. I can't find accurate information on "shortages" of these commodities available on the world market, and mung bean yields are up spectacularly in the last few years due to the introduction or virus resistant strains adopted in Asia.
Why have bulk wheat/flour wholesale prices in US all but doubled so far this year? Con-Agra isn't messing with that crop for fuel... Why do large potatoes cost .98 a pound in Los Angeles? Why is a pound of processed "American" cheese $4.90 a 1 lb sliced package when our government, realistically, stockpiles this and other basic commodities against disasters? Did the nation stop growing wheat and potatoes? Cows stop giving milk?
I'm not particularly paranoid, though I have specific instances of paranoia, this being one of them. Are there some kind of speculative, greed-driven, not market driven, forces at work here?
When the economic notion of selling at whatever the market will bare destroys the market and results in the destruction of markets and famine, I have to think something is up.