Food supply unstable?
Oh. Bloody. Joy.
From
Reuters:
ANALYSIS-Grain price rise may fuel Mideast, Europe unrest
Rising grain prices from Russia's drought and fires will pressure populations already hit by the financial crisis and could stoke unrest -- particularly in the Middle East, North Africa and parts of Europe.
Wheat prices have risen by nearly 70 percent since June after Russia suffered its worst drought in 130 years and are at their highest since 2008, when the last major food price rally sparked protests and riots in a string of emerging nations.
Analysts warn that if prices stay high then the threat of street violence will increase -- at least up to a point.
"We could see some street riots but I wouldn't expect any governments to fall," said Jonathan Wood, global issues analyst for consultancy Control Risks.
"On one level, we have much less of a problem than in 2008 because we have better food stocks. On the other hand, because of the financial crisis many countries are not in such a good position financially to deal with it."
Time to hunker down, pay off all of your debts and live frugally. Some interesting times not-that-far ahead...
Posted by DaveH at August 11, 2010 7:45 PM