The price of food is at the heart of this wave of revolutions. Twenty years ago, things were more manageable. When grain production collapsed in the Soviet Union during the 1980s and what had been one of the world's greatest grain exporters became a net importer, the resulting surges of anger brought down the whole Communist system within a couple of years â but stopped there. Today there are no such firebreaks, and thanks to digital communications, events happen much faster. For the poor of the Middle East, the price shocks at the start of this year were like experiencing a second killer earthquake in three years â but unlike with an earthquake, there was someone you could blame. So angry were the food price protesters in Tunisia that, after Mohamed Bouazizi set fire to himself, President Zine el-Abidine Ben Ali declared a state of emergency and promised to reduce the price of food. But it was too little, too late: by mid-January he was gone. In these poor countries, food purchases can consume 70 per cent of income. The result, when prices of flour and grains shoot up by 30 per cent, is extreme distress â the sort of distress that sends people out into the streets in fury. Tunisia's turmoil, warned The Washington Post as the toppled president flew off into exile, "has economists worried that we may be seeing the beginning of a second wave of global food riots". As we know now, it turned out somewhat differently. Food riots in 2008, revolutions in 2011 â what, where, who is next? http://www.independent.co.uk/news/w...eart-of-this-wave-of-revolutions-2226896.html Thanks Bernanke
I agree wholeheartedly. It is easy for me and people watching these things, watching OTHER peoples children die and say, it is good to get these tyrannical despots out of power. But then it isn't me or my children dying.
Bernanke? No, it is the speculators... They use predatory high frequency quote stuffing algorithm to manipulate the price of food and front-run it to the upside while never taking delivery and never putting money down to back their insider positions... You should read the news, man...
If they cannot afford and provide the basic necessities for these children, then should not be having them. Place the blame where it belongs: the parents.
Bubble ben bernanke has a lot to do with rising food prices here and abroad, Im not putting all of the blame on one person but Bubble ben bernanke has a lot to do with rising food prices. Bubble ben bernanke is creating asset bubbles as I type this and no one understands that his easy money policies along with trillions in stimulus and bailout outs have caused a new and up coming bubble. Bubble ben bernanke wants and needs to inflate his way out of this crisis, but it looks like its gone too far yet again...As I said Bubble ben bernanke is totally out of magic tricks, he did all the stimulating he can and now he has nothing left....
It isn't unusual for governments to hoard grain and deny access to it. In that case, the food supply is stable, but no one gets to consume it. Another example of unnecessary greed/unnecessary hunger.
It is not Ben Bernanke It is the speculation Ban the options futures forward and short sale and oil will be $30, corn will drop like a rock wheat will be dirt cheap We are paying more for every commodity just because some shmuck in Wall Street wants to bang a hot blonde girl or wants to vacation in Caribbeab every other week. we are paying for greeds of crooks
So what happens if we have a massive crop failure this season, hum. China is running out of water. This is something the all-powerful central banks cannot control, Mother Nature, she can't be bribed. To much tinkering by the central banks. Let me think what was Banana Bens remarks not long ago, we saved the world, thats sounds about right.
We saved the world http://www.marketwatch.com/story/we-saved-the-world-from-disaster-bernanke-says-2009-08-21-10100