If you are like I am you thought corn-based ethanol was a good thing. I thought the increase in food prices was from the cost of gasoline. I am sure that they both play apart. According to the Times magazine Ethanol is a Clean Energy Scam. Times says, ethanol is hyped as an eco friendly fuel. Times says Ethanol increases global warming, destroys forests and inflates food prices. So why are we subsidizing it? The demand for corn has shot prices to record levels. Eager to cash in soybean farmers switch their crop to corn. Soybean prices rise as supplies shrink. It ripples to the cattle market. Farmers in Brazil are expanding into fields previously used as cattle pasture lands. Displaced ranchers, in turn, clear new grazing lands in the rain forest releasing carbon. It's Global!
In the Southwest Times of Fort Smith Arkansas there is an article about stock pilling food. I can't believe it. My mom has always talked about there was no food in the depression. My x-husband being the pessimist that he is always said we were going into a recession. Well after 28 years I think he may be right.
The price of rice has almost doubled in the last 5 weeks according to Sheeran, executive of the World Food Program. The World Bank estimates the cost of food has risen 83 percent in the last three years, according to an Associated Press in Wednesday's Times Record.
Brett Arends Suggested in the Wall Street Journal that Americans start stockpiling food like rice, flour, and canned goods. According to Arends that could be a better investment than leaving our money sitting in the bank.
Recent government data shows food inflation running at 4.5 % per year for an average American household. But we don't need the government to tell us. We've seen the cost of cereal, milk and eggs. as well as beef and chicken-the sturdy staples of American eating-rising faster than you can get money from the ATM.
Do you think it is time to stock pile food? Are do you think we are just being a pessimist?
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