The same record food prices causing riots in Algeria and export bans in India are allowing President Barack Obama to combine the biggest-ever U.S. farm exports with the tamest inflation since the 1960s.
And this part:
Producer spending for processed foods rose 4.9 percent in the U.S. last year, while consumer prices increased 1.5 percent, Labor Department data show. A record 43.2 million Americans received food stamps in October. The jobless rate is running at 9.4 percent, and Federal Reserve Chairman Ben S. Bernanke said Jan. 7 the labor market may take five years to recover. Bloomberg
Food price hikes are coming, but much of that falls on the Federal debt via food stamps. Good news for Central California farmers.
No comments:
Post a Comment