What are these people so angry about? So they’re oppressed, under the thumb of the state and barely able to earn enough to feed themselves. But so what? Tunisia’s ousted thug, Ben Ali, held sway over his countrymen for some twenty-three years before finally being given the proverbial boot. In Egypt, the poor, unwashed masses endured three decades of Hosni Mubarak’s disastrous policies. In fact – and perhaps not coincidentally – Egypt was the birthplace of the state. A dubious accolade, indeed. For 6,000 years they’ve suffered the experiment of state-sponsored aggression. So why rise up now? What makes 2011 so special?
Well, for one thing, it’s getting more and more expensive to live from hand to mouth, as the overwhelming majorities in these countries do. More than 40% of the Egyptian people live on $2 per day or less. A whopping 70% rely on food subsidies and handouts. A few percent increase in the price of milk and honey may not break the bank for the average American or European (at least, not yet)…but for those living in Egypt and her surrounding states, it’s the difference between eating and going hungry. These people, it may fairly be said, are quite literally starving for change.
“Global food prices are rising to dangerous levels and threaten tens of millions of poor people,” World Bank chief Robert Zoellick announced yesterday. “It’s poor people who are now facing incredible pressure to feed themselves and their families.”
Chimes Addison Wiggin in today’s edition of The 5-Minute Forecast, “The World Bank’s latest data on food prices reveals an overall 15% increase from October through January. Its index now sits just 3% below the 2008 record, although a separate index maintained by the UN’s Food and Agriculture Organization has already surpassed 2008 levels.”
According to the World Bank’s own data, global wheat prices have doubled between June and January. The price of corn – which is used to feed the cattle, hogs and chickens that populate the meat shelves at your local grocery store – has surged 73% in the same period. Prices for sugar and edible oils have also risen “sharply,” the bank said.
“Zoellick acknowledges rising food prices were ‘an aggravating factor’ behind the downfall of dictators in Egypt and Tunisia,” writes Addison.
But the story doesn’t stop there. Not even close. And here comes our second free tip of the day:
“Warning: Inflation may be closer than it appears.”
In fact, according to some measures, it may be so close it’s already here.
Back in the good ol’ US of A, continues Addison, “Wholesale prices jumped 0.8% in January, according to the Bureau of Labor Statistics. The producer price index has now jumped 3% over the last four months. And no, that’s not an annualized figure.
“Note that the PPI headline number is for ‘finished goods’ – stuff that’s ready to be sold direct to consumers. In the category of ‘crude goods,’ the figures are far worse – up 3.3% in January, and up a staggering 15.8% over the last four months.”
For his part, the man printing all the money chasing these commodities, Fed Chairman Ben Bernanke, flatly denies any wrongdoing. The trillions of dollars he has injected into the world’s economy have nothing to do with the escalating price of commodities, he contends; commodities coincidentally priced in those very same dollars. Instead, Bernanke blames the “two-speed recovery” – where emerging markets are, shall we say, “out-recovering” developed economies – and a failure of these emerging markets to tackle their own inflation.
In the developed world the increases in the price of staples foods (corn, rice) and energy affect us much less than in poor countries, b/c it's a much smaller percentage of our wages.
There are a few reasons for these increases. One is that population growth far outpaces agricultural production growth (if any) and in particular the funny weather of late has affected production negatively. This fuels speculation on the futures markets, and drives the prices up.
Another reason is the easy money policy of the Fed (effectively negative rates and expansion of the money supply) that is followed not only by the US but also by EU, China etc. to combat the economic crisis. This has led to worldwide growth, but also to high inflation. Wages haven't kept up with prices (even in the US, wages, when adjusted for inflation, have actually gone down during the last 40 years - and note that the inflation index CPI has been shown to greatly underestimate real inflation).
Political restrictions and persecution may have a role in the uprisings, but it's mostly the economic situation and financial corruption that have made people revolve. JMO
I don't see a problem with #1, nor any basis for #2 or #3. If you can't trust yourself and your ability to read the other person's character and intentions, then you ain't likely to succeed.
You look great, I'm sure it could have worked.. esp. if he was in his late 20's or 30's when this took place. You shouldn't have let outside opinion to influence your relationship so much.
Ron_de_Jeremy Forum Posts (381)
Real vs. Lyon tonight on Al Jazeera Sport 
Hope to visit soon 
<- you
RE: Reincarnation: What do you want to come back as after you die?
You look so innocent in your pic... but when you start talking.. NOT