World Bank: Food Prices Approaching ‘Dangerous Levels’
- Posted on February 15, 2011 at 6:02pm by
Meredith Jessup
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WASHINGTON (AP/The Blaze) — The World Bank delivered a stark warning of the impact of the rising cost of food Tuesday, saying an estimated 44 million people had been pushed into poverty since last summer by soaring commodity prices.
The group’s president, Robert Zoellick, says global food prices have hit “dangerous levels” that could contribute to political instability, push millions of people into poverty and raise the cost of groceries.
“Global food prices are rising to dangerous levels and threaten tens of millions of poor people around the world,” Zoellick said. “The price hike is already pushing millions of people into poverty, and putting stress on the most vulnerable, who spend more than half of their income on food.”
The bank says in a new report that global food prices have jumped 29 percent in the past year, and are just 3 percent below the all-time peak hit in 2008. According to its Food Price Watch, the World Bank’s food price index was up by 15 percent between October 2010 and January 2011, is 29 percent above its level from just a year earlier, and only 3 percent below its 2008 peak.
Wheat prices have been hit the hardest, doubling between June last year and January 2011, while maize prices were up 73 percent.
“Measures to address the recent round of food price spikes include expanding nutritional and safety net programs in countries where food prices are rising fastest, avoiding food export restrictions, and finding better information on food stocks,” the group noted. “More investments in agriculture, the development of less food-intensive biofuels and climate change adaptation are also needed.”
Zoellick said the rising prices have hit people hardest in the developing world because they spend as much as half their income on food and suggested rising global food prices were an “aggravating factor” for protests which have toppled leaders in Egypt and Tunisia in recent weeks.
Additionally, Zoellick said he expects food prices to continue to rise, and that export bans and weather disruptions are partly to blame.
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Comments (119)
912anita
Posted on February 15, 2011 at 7:47pmThe boy scout motto: Be prepared.
Report Post »Warphead
Posted on February 16, 2011 at 1:08pmAnd carry a big gun.
Report Post »YouGottaProblemWithThat
Posted on February 15, 2011 at 7:30pmMaize up 70+ % hmmmmm, can you say increased ethanol production? I give you another liberal policy resulting in unintended consequences: the starvation of millions. If we didn’t listen to the crazy 20-30% of the American population and would instead put them in their rightful place in our society, this kind of idiocy would not happen. But America will certianly be blamed because we produce no oil, but lots of corn.
We deserve to be a 3rd world country……..thanks Al Gore!
Report Post »ScienceIsNotEvil
Posted on February 15, 2011 at 7:38pmIf Ethanol production is such a liberal policy why do so many Republicans support it and why was it greatly increased during a Republican presidency?
Oh I forget, that is your team and we can’t say bad things about them or hold them to the same standards as our opponents as that would simply be wrong! Better to pretend our guys are great! Take abortion as another example, when the Conservatives had power nothing much was done but as soon as a Democrat, who they know will veto the bill gets power, the republicans start introducing anti-abortion laws left and right!
How does that make sense?
Report Post »Psychosis
Posted on February 15, 2011 at 8:51pm@ stupid science
you, as many others continue to ignore, a republican president doesnt mean a republican government
democrats took control of both houses of congress at the end of 2006 holding majorities
most of these initiatives were enacted then
nice try to direct the blame but it lies on the democrats, and idiots like you who believe them
Report Post »Mister_Bill
Posted on February 15, 2011 at 7:27pmQuick somebody better call MS-AlJezerra and let them know that there is a food price crisis. Chris will need to know that the ridicule he gave Beck for predicting a food shortage is here. Can these people see anything besides the shine on their shoes? I planted some seeds today and have more to plant tomorrow. Get ready to have a Victory Garden in your yard. The revolution to take back our country starts in 2012 – Vote.
Report Post »WBOB
Posted on February 15, 2011 at 7:25pmStocking up….food, essentials, commodities, many other neccessities
Report Post »Nevada Tumbleweed
Posted on February 15, 2011 at 7:24pmI say we trade straight across a bushel of wheat or corn for a barrel of oil.
Report Post »suzpenn
Posted on February 15, 2011 at 7:23pmAnd yet the ‘One’ keeps the water shut off for our farmers, that rich fertile land in California which once fed the world is reduced to a dust bowl. While subsidies for ethanol are merrily paid. And I thought the original Bagdad Bob had a reality problem.
Report Post »kramh
Posted on February 15, 2011 at 8:10pmThey keep the water shut off for the Delta Smelt in Calif . The forests in Oregon are shut down for the Spotted Owl, These nuts want wolves running around and they love to eat livestock. We are stopped from drilling our own oil in the US. We can’t build dams to produce electricity and store water for farms and people. We need major change and not the change Obama wants.
Report Post »MetalPatriot
Posted on February 15, 2011 at 8:35pmI live in So Cal, but have seen the San Juaquin Valley. I couldn’t believe how desolate this fertile ground has become. How does this kind of agenda take place where a tiny fish gets life but the humans get less to eat? You’re right, this valley DID feed much of the country and the world. When we shop at the store now, produce isn’t from California, it’s from Mexico, Central America, sometimes South America. Yes, we all know different climates yield produce at different times of year
I thought this was all because of NAFTA which was from Reagan wasn’t it? Isn‘t that part of the reason why we don’t get real cane sugar anymore? Because we use corn syrup & the sugar goes to Mexico? I know for a fact that there’s nothing left of the cane fields in the Hawaiian Islands, or pineapples either. That’s been fantastic for their economy.
Report Post »MetalPatriot
Posted on February 15, 2011 at 8:51pmOoops! I think I’m wrong about NAFTA from Reagan and about U.S. sugar going to Mexico. My apologies to all….my emotions are getting the worst of me.
Report Post »mcpbob
Posted on February 15, 2011 at 7:22pmthanks to Obama…. food prices and EVERYTHING ELSE. would skyrocket… his plan to destroy our way of life
Report Post »bkeely
Posted on February 15, 2011 at 7:21pmThe only way to control the price of food is to grow your own.
Report Post »========================
Buck
Http://www.***************
Heirloom seeds ‘The what God uses to plant His garden’
B-Neil
Posted on February 15, 2011 at 7:19pmIts all been programed and designed. Profite is the ultimate goal. Poor be damned. Its time to plant your own gardon. All ya need is food clothing and a roof. Everything else is an extra. Stick it to the man. Don’t purchase anything other the Food, clothing and a roof. See what shakes out of that action……..Carry on McDuff
Report Post »azmomof6
Posted on February 16, 2011 at 1:45amAren‘t those the three items it’s getting harder to afford?
Report Post »simple thought
Posted on February 15, 2011 at 7:18pmbeen stock’n for a year
Report Post »seejanemom
Posted on February 15, 2011 at 7:06pmVictory Garden, anyone?
Report Post »Waltermelon
Posted on February 15, 2011 at 8:10pmAbsolutely.
Report Post »biggreenboo
Posted on February 16, 2011 at 10:44amNo, I call it a “Domination Garden” !!!
Actually, victory garden is fine…. people, just put some seeds in the ground. Grow something. It’s almost free, if you do a bit of research.
Whatever, off to Costco.
Report Post »BYEBYEBAMA
Posted on February 15, 2011 at 7:05pmTime to get serious, went to the store today and wow have the prices gone up in the last 2 weeks since I last shopped, jar of Hellman’s Mayo 5.25 but I had a 1.50 off coupon, whoopee! I am glad I am one of the Glenn Beck followers and believers; he had it right on.
Report Post »seejanemom
Posted on February 15, 2011 at 7:04pmRe: JACKERIC61
Yeah..lie to the sheep between doses of AMERICAN IDOL and maybe they won’t notice that SUGAR IS NOW IN FOUR POUND BAGS>>>>>and costs TWENTY CENTS MORE than it did before Christmas.
Sheeple know two modes: GRAZE and PANIC.
The lush fields are drying up fast.
Stand by for the stampede.
Waltermelon
Posted on February 15, 2011 at 8:07pmI could not have said that any better.
Report Post »the B man
Posted on February 15, 2011 at 6:59pmWhy do I feel that the blame for world food prices and shortages will be blamed on Global Warming. They are looking to get this issue back up and running.
Report Post »We know its the devaluing of the US currency and the use of bio-fuels from food for a portion of this rise. Of-course extreme cold weather in some area’s have caused crop damage. but that flies in the face of the warming theory. well at-least before they’ve tried to revise it.
tankerBigRed1
Posted on February 15, 2011 at 9:10pmI’m sure the freeze in southern US & N Mexico was global warming for all to see- ck out the price of your lettuce in the coming days [ if you can find some]
Report Post »biggreenboo
Posted on February 16, 2011 at 10:25am@ the b man
Right on… just what I was thinking. They WILL work global warming in to the food crisis.
@ABC… SUX IT. Add your asinine comments on GW here……
Report Post »biggreenboo
Posted on February 16, 2011 at 10:37am@tank
OMG… You gotta just put lettuce seeds in the ground… it will grow just about anywhere. I have an old bathtub we use just for lettuce…. use the drain to recycle the water (don’t want to waste any of the nutrients) I never pay for lettuce in spring, summer or fall… winter, i’m working on this year.
Report Post »Anyway, going to Costco in 24 min. better safe then sorry.
ABC… Blows!!!
BurntHills
Posted on February 15, 2011 at 6:56pmGlenn Beck, and his research team, right on the mark, AGAIN.
Report Post »fishstx777
Posted on February 15, 2011 at 6:53pmthey just had a report on nbc of all channels with brian williams warning of insane food prices to come .the reason demand, inflation and weather. I think there was someone else warning about this about 6 months ago and they all called him crazy , bloggers making fun of people building food storage,msnbc calling him a loon now parent company nbc 6 months late as usual eat humble pie. I think I will make my garden a little bigger this year thanks glenn.
Report Post »dcwu
Posted on February 15, 2011 at 6:50pmMaybe we can eat vacant houses.
Report Post »Waltermelon
Posted on February 15, 2011 at 8:21pmLets begin first with vacation homes…
Report Post »teapartyguardian
Posted on February 15, 2011 at 9:30pmYoo funny!!! This comment rocks!!
chisoxfan
Posted on February 15, 2011 at 10:37pmWow. I needed that laugh. Bravo
Report Post »holierthanthou
Posted on February 15, 2011 at 6:43pmThe world bank is just fear-mongering…right???
Report Post »Diane TX
Posted on February 15, 2011 at 6:41pmGlenn Beck is ahead of the wave once again.
Report Post »Bermuda Onion
Posted on February 15, 2011 at 6:41pmMust be ALL the corn we’re converting to ethanol to run our very efficient and tiny little cars.
Report Post »felina g
Posted on February 15, 2011 at 6:41pmGood thing Glenn didn`t see THAT coming.
Report Post »ScienceIsNotEvil
Posted on February 15, 2011 at 7:34pmGlenn only started talking about food issues when he started to be sponsered by those selling highly priced “emergency” food stocks.
Report Post »Abby Normal
Posted on February 16, 2011 at 10:15amscience, sorry you are wrong, Glenn told us this in 2005, get your facts straight before you open your pie hole!
Report Post »jackeric61
Posted on February 15, 2011 at 6:40pmDo people really believe the gov’t saying that there is NO INFLATION. Yea if you don’t eat or drive. But now that food prices are going up, they fail to mention cotton prices are rising so most major manufacturers of clothes say they will be raising prices by 10% watch for everyting else to get more expensive. Add to top it off Obamas new budget has new taxes on small businesses and a tax on those making $200,000 what a suprise Man are we in trouble.
Report Post »republitarian
Posted on February 15, 2011 at 7:36pmI’m stocking clothes too. It‘s not like I won’t wear them sometime.
Report Post »azmomof6
Posted on February 16, 2011 at 1:38amclothes, blankets, towels. thread, cloth…
Report Post »mnpacman
Posted on February 15, 2011 at 6:39pmSo this is a surprise? I just paid $4.99 a lb for bacon… the pig eats better than I do I think! How come obama gets to exclude the food inflation and energy inflation in the inflation figures they publish… the value of your dollar is sinking as fast as they are printing funny money!
Report Post »SnapTie
Posted on February 15, 2011 at 7:13pmBecause of the new math is offsetting inflation with the depreciation in housing.
Report Post »Puddle Duck
Posted on February 15, 2011 at 7:24pmIt’s sheer lunacy to leave the cost of energy and food out the equation…….factoring those into today’s rate would have everyone admitting the obvious…that Beck was absolutely right about a whole host of things. Why the Democrats are purposely leading the public down a crooked pathway with regards to debt , deficit, inflation etc is truly criminal IMO. Sadly ot looks as though the sheet has to hit the fan before serious actions are taken ? Cripes I hope not otherwose we are no smater than the boobs in Zimbabwe (today) or the Wiemar Republic of 1929-1932.
Report Post »ScienceIsNotEvil
Posted on February 15, 2011 at 7:33pmFood and Energy costs haven’t been included in the official figures for many years. It didn’t start under Obama. Funny how when your team was in power they did nothing to change this. But that is OK because you don’t hold your team to the same standards as you hold the other team!
Report Post »CatB
Posted on February 15, 2011 at 10:56pmPretty interesting graph .. showing what inflation would be under old system .. up to 2008 I bet it would be off the charts for 2011! We can see what it does to our wallets .. but the government would have to adjust COLA”s and I Bonds .. etc and pay the REAL inflation.
http://legacy.signonsandiego.com/news/business/20080417-9999-1n17inflate.html
Report Post »J.C. McGlynn
Posted on February 15, 2011 at 6:37pmAnd some of my friends thought I was nuts when I said this at least a year ago.
Report Post »BMartin1776
Posted on February 15, 2011 at 7:33pmThats why you must stand your ground no matter what people say the truth will come out in the end… because it has no agenda
Report Post »MomaGrisley2
Posted on February 15, 2011 at 6:37pmMade up crisis or for real…it’s stock up time!
Report Post »pajamash
Posted on February 15, 2011 at 6:46pmNo surprise here. Glenn talked about this in December.
Report Post »Polwatcher
Posted on February 15, 2011 at 6:49pmAnd the Fed just keeps on printing money to drive up food prices even more.
Report Post »BMartin1776
Posted on February 15, 2011 at 6:59pmWhy would anyone make this up? There are people rioting for real over this, high fuel prices and lack of jobs. Its coming to the US the bigger question is when not if?
Its amazing how they are trying to dumb people down and worst off many are buying it with the “not going to happen here” mentality! Id like to know why so many think the US which is already broke, is immune to massive inflation and things we read about overseas happening here? Was there some magic fairy dust sprinkled over this country which produces nothing and lost its value as a world industrial power. China has become what the US once was. I dont know if we can get back to that capacity since they use slave labor, cheap materials to out bid manufacturers.
Maybe if DC backed off companies via regs and taxes it could happen, but when you have the IRS EPA OSHIA FCC BATF FDA etc ready to bite at the heels of a company what option do they have left? This all thanks to corrupt politicians lobbyists and their ilk!
Start stocking up what you can as far as food goes, this is not a Y2K panic either this is real you can see ut everyday in the headlines, something is brewing. Ive noticed an increase in those selling MRE’s at gunshows btw!
http://www.savingtherepublic.com
brickmoon
Posted on February 15, 2011 at 7:06pmI was on top of this three months ago — the perfect government solution in this cartoon:
Ted Turkey in “Chicken Feed”
Report Post »http://www.youtube.com/watch?v=ny2fgRs7Ylk
Puddle Duck
Posted on February 15, 2011 at 7:10pmFolks have a short memory it would appear (and in this case it’s a good idea to listen to your elders who have been through tough times before)…..All one needs to do is to go over the economic conditions of the Carter years for a glimpse into the possible (ah hell inevitable) near future if the FED keeps printing money like crazy…..My only hope is that interest rates and inflation rates do not come close to the levels of that sorry period….that was a bad 6 year run (from 74-80) that I remember all to well.
Report Post »DisillusionedDaily
Posted on February 15, 2011 at 7:14pmSince Soros is heavily invested in commodities one can imagine that he is going to make a killing with this development.
Report Post »simple thought
Posted on February 15, 2011 at 7:17pmbeen stock’n for a year,
Report Post »republitarian
Posted on February 15, 2011 at 7:28pmFor anyone not stocking up yet, you can save money on your food budget by buying now. Is that crazy?
Report Post »abc
Posted on February 15, 2011 at 7:28pmHey geniuses. The Fed has nothing to do with it, unless you are talking about US food prices. If Mozambique or Egypt buy food, they can buy more from us at the same price if the Fed is weakening the US Dollar. Also, the key increasing input in food prices is the energy to make and transport it, which has risen. That is also denominated in dollars, which would decrease with a permissive Fed. Think before you write!
Food prices are rising around the world for several reasons that don’t have to do with the government trying to take over your life. Glenn Beck is clueless on this issue, and misinforms his viewers…sadly. Those reasons are:
1. energy prices–oil prices have rebounded sharply from a couple of years ago, and the entire food complex relies heavily on oil as a key cost input both to make and distribute food. This is a key cause of the problem.
2. rising standards of living in emerging markets–as the Chinese and Indians get wealthier and demand more meat in their diet, they increase their demand for grain as feed for cattle and hogs. This pushes up the price of these grains, since it is less efficient to feed those grains to cattle or hogs to produce a given amount of calories than it is to eat them directly. So the increasing demand raises the price for other emerging economies’ citizens.
3. climate change–despite major advances in biotechnology that has increased crop yields materially (although not as much as Monsanto would have you believe), adverse weather is leading to more crop failures than ever before. Much of the conflict in Africa can be traced to the scarcity of water for crops, which is widely believed to be caused by global warming. Similar problems have hurt crop productivity in Australia, Europe and elsewhere.
4. bad government policy–in the US, the ethanol incentives have caused fuel consuption to compete with food consumption, which has pushed up food prices in the US. Similarly bad policies exist in many other countries around the world.
There are probably loads of other reasons, but I cannot think of them right now. All of these, however, are more important than any crazy theory about how governments or revolutionaries are creating a fake shortage for political purposes.
Snowleopard {gallery of cat folks}
Posted on February 15, 2011 at 7:33pmMany have warned and mentioned of this coming, and now due to the last few years of screwed up weather, most harvests are reduced or destroyed for the near future; so indeed stock up while there is still time and ability, and get ready to weather the storm at hand.
There is a little time yet, but remember, not much before the storm doors to the cellars need to be closed and barred, lest everything be lost of value.
Report Post »watchtheotherhand
Posted on February 15, 2011 at 8:11pmI will stand by this statement all day long…….We have not seen anything yet. When one looks at the pressures on food growing, processing, distribution, regulation, supply, and alternate uses (bio-fuel). Combine this with currency wars and a devalued dollar that may be removed as the world’s reserve currency (being pushed by many world banks, China, Russia and many OPEC countries) we will see overnight inflation here with skyrocketing costs and large pockets of famine in the not too distant future in areas all over the globe. Most people have no clue of the growing food and water crisis on a global scale, but it is very real. Just do a Google search on both for international impacts.
Report Post »Waltermelon
Posted on February 15, 2011 at 8:14pm“abc
Posted on February 15, 2011 at 7:28pm
There are probably loads of other reasons, but I cannot think of them right now. All of these, however, are more important than any crazy theory about how governments or revolutionaries are creating a fake shortage for political purposes.”
///////////////////////////////////////
Have I missed something here? Can you give even one example where Glenn said any such nonsense?
Report Post »watchtheotherhand
Posted on February 15, 2011 at 8:20pm@ ABC…..quick 101 lesson on how a weak dollar drives up food prices. The US is quite a little bread basket for much of the world. When farmers don’t get as much for their crops because of a weak dollar they are typically forced to grow crops for bio-fuel to make a better margin of profit given the increase in fertilizer and seed recently. This then puts market pressure on food and creates a quasi-food shortage in the market and thus higher demand means higher prices……………..
A study from three Purdue University researchers concludes a complex combination of factors is driving up food prices. The What’s Driving Food Prices? report points to high oil prices pushing biofuels growth, a weak dollar and world production and consumption trends as factors contributing to higher prices. The Farm Foundation commissioned the analysis by Purdue agricultural economists Wally Tyner, Phil Abbott and Chris Hurt. The researchers say consumption has exceeded production since the turn of the century and stocks are at record lows. The report is being presented today in Washington, D.C.
watchtheotherhand
Posted on February 15, 2011 at 8:28pm@ ABC ….Econ 101 here is how a weak dollar increases food prices. Since farmers cost of fertilizer and seed has gone up dramatically they are forced to look more and more to growing crops for biofuels. The weak dollar allows more of their crops for food to be bought at lower prices and many farmers can’t afford this so their is a supply force placed on the market creating an increase in demand for food and subsequent increase on food prices……Just read a little yourself !!!!!!
The Purdue experts say decreased investment in agricultural research has led to lower production growth, which has reduced food stocks and set the stage for commodity price increases.
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[UPDATED] Purdue: Oil Costs and Weak Dollar Helping to Increase Food Prices
InsideINdianaBusiness.com Report
Purdue economist Wally Tyner tells Inside INdiana Business the depreciation of the U.S. dollar is linked to price increases in all commodities.
A study from three Purdue University researchers concludes a complex combination of factors is driving up food prices. The What’s Driving Food Prices? report points to high oil prices pushing biofuels growth, a weak dollar and world production and consumption trends as factors contributing to higher prices. The Farm Foundation commissioned the analysis by Purdue agricultural economists Wally Tyner, Phil Abbott and Chris Hurt. The researchers say consumption has exceeded production since the turn of the century and stocks are at record lows. The report is being presented today in Washington, D.C.
watchtheotherhand
Posted on February 15, 2011 at 8:30pmJust waiting on reply ABC
Report Post »Brooke Lorren
Posted on February 15, 2011 at 8:40pmI’ve been talking about this for more than 3 years. I know Glenn has been talking about if for a while too.
Report Post »watchtheotherhand
Posted on February 15, 2011 at 8:48pm@ ABC….I don’t know why but someone keeps removing my response to your question. Econ 101 for weak dollar driving up food costs. Since farmers pay significantly higher prices for fertilizer and seed and the weaker dollar allows their crops to be sold for less profit on world market. There then are pressured to grow crops for bio-fuels (since oil is higher) to clear a profit. This in turn creates a supply pressure that drives food prices up…………
A study from three Purdue University researchers concludes a complex combination of factors is driving up food prices. The What’s Driving Food Prices? report points to high oil prices pushing biofuels growth, a weak dollar and world production and consumption trends as factors contributing to higher prices. The Farm Foundation commissioned the analysis by Purdue agricultural economists Wally Tyner, Phil Abbott and Chris Hurt. The researchers say consumption has exceeded production since the turn of the century and stocks are at record lows. The report is being presented today in Washington, D.C.
Report Post »watchtheotherhand
Posted on February 15, 2011 at 8:50pmWow my comments keep disappearing then reappearing sorry for the repeating…….Really bizarre !!!!
Report Post »abc
Posted on February 15, 2011 at 8:57pmGlenn Beck has talked about the power grab by the government, which includes the attack on the dollar that a permissive Fed has instigated. If I understand the crazy argument correctly, the government under Obama is trying to take power by impoverishing us by systematically weakening the dollar. He has then blamed the food price hikes on US monetary policy being messed up. This is why people here are citing the Fed as a reason for the World Bank’s report on rising food prices in emerging countries (where food as a percentage of household income is much higher than in the US). This is nonsense, and I called out Beck for putting this junk into people’s heads.
Don’t believe me? Media Matters similarly criticized Beck and even cited the shows when he made the claims. Good thing they are out there recording his nonsense so he and his fans cannot run away from them:
As recently as January 4, Beck was on television claiming that the source of rising prices was not the forces of supply and demand, but was the fact that “they have a plan….What are the problems they’re creating?…Food prices going up. Why? We’re printing too much money, devaluating our own currency.“ The following night he said ”[i]t’s only a matter of time before we experience the same thing that is happening in Europe with inflation and everything else.” According to Beck, food prices are increasing because of irresponsible government monetary policies. He sees Zimbabwe and Weimar Germany in our immediate future.
http://mediamatters.org/research/201101050044
http://mediamatters.org/blog/201010070049
To rely on Glenn Beck for economic knowledge is like relying on a plumber for your heart surgery. Just plain stupid.
Report Post »watchtheotherhand
Posted on February 15, 2011 at 9:09pm@ ABC hold on there partner I said nothing of Glenn Beck or Obama. Just gave the facts that a weak US dollar (lead by the printing of fiat money by the FED) both of which are proven facts, will lead to higher food prices on world markets creating a food shortage. And just as a note it is not just in developing countries. It is here in the USA and in the EU. Just Goggle the stats of food prices and their significant increases in these two places. It isn’t hard to find the stats. and they are hardly deniable.
Report Post »watchtheotherhand
Posted on February 15, 2011 at 9:11pmEngland had a 5% increase in food prices in just one week not to long ago. and anyone who buys groceries can tell you price of all food is up quickly in a short time.
Report Post »pajamash
Posted on February 15, 2011 at 9:46pmABC – History has a tendency to repeat itself. There is a good possibility that the US will experience what the Germans did during The Viemar Republic. Like Germany the US has a large debt that is at a breaking point and on the verge of being unserviceable. Here are a few sites that discuss The Wiemar Republic:
http://www.pbs.org/wgbh/commandingheights/shared/minitext/ess_germanhyperinflation.html
http://www.youtube.com/watch?v=AMY3aJwhfqg
Report Post »noshadow
Posted on February 15, 2011 at 9:47pmNever too late to start, but you gotta hurry! I started the day Obama got elected. First was guns, ammo, and silver. Then early last year the indications were that sugar would go up drastically; I bought 50 lbs @ 45c/lb. That won’t even get you 20 lbs at todays prices. That got me interested in other commodities like wheat, corn, etc., and I started stocking up on cornmeal, flour, barley, rice, pasta, dry peas and beans, oatmeal and non-hybrid vegetable seeds. Prices on all of these have gone steadily up in the past year, and are due to skyrocket come spring. I grow all my own fruits and veggies, so I don’t worry much about those; but if you don’t have a garden, and can your stuff, then better stock up on canned fruits and veggies NOW while good prices can still be had on sale at the supermarket. If you have a freezer, then frozen veggies are a better buy, but don’t have the shelf life of canned. Get as much meat as you can safely freeze, this is going to cost you dearly come summer, Also, cotton is at its’ highest price since the Civil War, so if you need clothing like underwear, socks, shirts, slacks, jeans, etc., BUY THEM NOW; prices are going up 10-33% next month. Oh, and if you like an adult beverage every day, then stock up now. Ask your dealer what his case price is, then shop around to get the best price. Buy as much as you can afford and store it away. Don’t forget stuff like shortning, cooking oil, coffee, spices, salt, seasoning and gravy mixes, dry milk and potatoes; anything you use a lot of, or wouldn’t want to do without. There is no down side to this! Let‘s say prices don’t go up, and this was all doom and gloom. You’ve got a pantry full of food that you can use as needed, and might serve you well in case of a natural disaster. However, if the excrement impacts the rotating ventilating device then you not only will continue to eat well, but have many bartering items. Who knows what a pound of coffee, a litre of booze, or even package of rice or a handful of salt might be worth if the really hard times come again? Set your priorities, and budget your extra cash to stock up NOW!
Report Post »CatB
Posted on February 15, 2011 at 10:27pmThis is what you get when you pay people not to grow food and use food for fuel. How much corn that could feed PEOPLE has been put into our fuel tanks? My state requires 10% of this crap in my gas .. when they first started I thought someone was stealing my gas .. the milage went down that much .. it is just ‘filler” in most vehicles … not energy.
Report Post »azmomof6
Posted on February 16, 2011 at 1:25amWill the MSM feel any remorse for calling Glenn crazy and lulling their uneducated, gullible audience into a sense of prosperity and security that no longer exists? I’m grateful to Glenn for opening the eyes of so many. MSM called him a fool, but who will be the hungry fools in the long run?
Report Post »Psychosis
Posted on February 16, 2011 at 2:30am@ ABC your using media splatters as a source? lol now thats freakin funny
your claim to fame as a semi- smart troll has now been downgraded to a complete fool and a tool lol
yours is a sad fate i surmise
Report Post »JCoolman
Posted on February 16, 2011 at 8:51ampajamash–you are right. History does tend to repeat itself. I think, though, in this case the US wont go down the road of WWI Germany. Mainly because the US is a constitutional republic. Not to say the hyper-inlfation couldnt happen that way, but I dont think the powers that be want us to go down that road. They want to bail the US out. That way the US will have to give up her sovereignty.
Report Post »taskmaster78
Posted on February 16, 2011 at 11:27amsomeone might want to tell him we have no inflation. Hasn’t he talked to this administration?
Report Post »jbl8199
Posted on February 16, 2011 at 4:55pmHere’s one more that Beck called out before it actually happened. You don’t even have to watch Glenn Beck to know the food prices are getting out of hand. Just go to the store sometime. It’s insane what the cost of a single meal is nowadays.
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