Bigger Problem: Jobs Crisis Or Rising Global Food Prices?

http://www.huffingtonpost.com/2011/05/03/inflation-jobs-food-prices-tradeoff-economist_n_856845.html

That's a tough one.

I voted that they need to find a way to do both. At minimum, do away asap the tax cuts for the rich.

This comment to the article was spot on also:

"Last year was a terrible weather year for food crops.

Many farmers are planting wheat and corn this year in hopes of cashing in. If it turns out to be a normal year for crops across the globe, food prices are expected to plummet.

On top of that, go to your local garden center. They will tell you the last couple years, food based products have been their top sellers. Fruit trees and bushes routinely sell out at many nurseries.

Canning suppliers have also reported increases the last couple years.

Even a small space can grow a great garden. Best of all, it keeps people active and outdoors."


Here is the problem, it is springtime, floods and tornadoes all across the country, particularly in the south. That puts quite the damper on growing crops for the grocery stores nationwide. I know that here in western PA, even our local newspaper is reporting the frustration that local farmers are having w/ the weather, too much rain, they can't even get the corn planted, and not enough sun, we are lucky if we even see 1 day a week where we even see the sun out. This has been going on now for well over a month.

Thanx QH--

All I can say about the article is.....not yet another media piece taking aim at Quantitative Easing.....& from HuffPost no less. Curiously no author was willing to actually put his name on the article. Does that mean Arianna wrote it herself??

Ok I lied that's not *all* I have to say. I was in favor of QE till I found out that what happens with QE is that the Fed buys bonds from the Banksters & pays them quite a nice price. Later when the Fed sells the bonds back to them.....the Banksters get the bonds at Fire Sale Prices.

Wait a minute--I thought QE2 was still underway with the Fed set to buy more bonds in June. (Glenn Beck hates that idea which is the only thing that Beck & I agree on tho for different reasons.) Why is HuffPost suggesting that the Fed should start to *SELL* the bonds back to the banks?? If anything it should be for the Feds not to *buy* anymore bonds from the banks--to cancel the June 2011 purchases.

But I forgot.....the Banksters really really want that Fire Sale to get started *SOON*.

Without creating jobs. The Banksters & Wall Street are super-satisfied with 8.8% as the 'New Normal' till 2013. Very few jobs. Lots of inflation. Plus buying up bonds from the Fed at Fire Sale Prices. It must be one of the best times in human history to be a millionaire or a billionaire.

So we basically get screwed forwards and backwards....