Food, Precious Food

April 11, 2008 at 12:04 am (Food)

There are some who still deny we’re in a recession.  Technically, since a recession can only be confirmed after it happens, and it’s entirely based upon the government’s interpretation of numbers, there is somewhat of an argument there.

However, back on Planet Earth, most people believe we’re in a recession.  Even the former chairman of the Federal Reserve has finally admitted as such.  Every move by the markets is geared towards managing this fact.  As a nation, we’ve been run off the road and now our challenge is to slowly let our foot off the accelerator and try not to hit a tree.  If the car gets ruined in the process, well, too bad.  It could be worse.  I’ll leave it up to you to decide who or what the car is.

How do we know when we’ve crossed the line from a recession to a depression?  There is some silly technical definition, but the practical one is: are most people having a hard time feeding themselves?  We’re not there yet, thankfully.  But the momentum heading towards that is undeniable.  And it’s not just us in the United States — it’s everywhere

There is plenty of blame to go around as to why there is not enough food to go around.  Some say it’s overzealousness towards ethanol, some say it’s due to hoarding, some say it’s due to bad harvests from global warming, and others say it’s because of the credit disaster pushing investors towards a safe haven.  Maybe it’s all of them together.  The fact is, however, it’s bad.

Here in the United States, we’ve seen grocery prices climb perhaps 15% or 20% in the last year.  It’s enough to worry people, and enough to be annoying, but we don’t spend half our income on food like those in poor nations.  However, higher prices are still on the way.  How much more will they climb?  Rather, what’s to stop them from climbing?  Decreased demand?  Increased productivity?  Deflation?  Not any time soon.  Of course, one can always stockpile a few airtight buckets of emergency food.  That’s never a bad idea.

Today’s article of doom: Former Navy Seals demolition team member and governor of Minnesota says the 9/11 official story is completely false.

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