Quote:
Originally Posted by Flagg
...
In many places around the world(including the many hundreds of millions of Chinese that are still dirt poor) current average food cost is in excess of 50% of income.
If food prices go up 50% relative to income(taking into account wage inflation) in the US and the wealthy west and people complain.
If food prices go up 50% relative to income in the poorest parts of the world and people go hungry, starve, riot, mutate into failed states, and governments fall.
...
|
Good thing we are not "the rest of the world," though I have no doubt the current POTUS would love to level the playing field, and his actions and policies are such that instead of raising the standards higher in those other countries, he would rather see fit to lower ours to the level of those dirt poor Chinese you mention.
As for the drought:
We could weather a drought and correlating spike in food prices if everything else was in check; it wouldn't be so bad if it were not so bad.
But eventually the drought will come to an end. If we have learned anything from fluctuating oil prices, that is that food and commodities in general will not revert back to lower prices when that drought is over.