For six of the last eleven years the world has consumed more food than it has produced. This year, drought in the United States and elsewhere has put even more pressure on global food supplies than usual. As a result, global food reserves have reached their lowest level in almost 40 years. Experts are warning that if next summer is similar to this summer that it could be enough to trigger a major global food crisis. At this point, the world is literally living from one year to the next. There is simply not much of a buffer left. In the western world, the first place where we are going to notice the impact of this crisis is in the price of food. It is being projected that overall food prices will rise between 5 and 20 percent by the end of this year. It is becoming increasingly clear that (Read More....)
A devastating global food crisis unlike anything we have ever seen in modern times is coming. Crippling drought and bizarre weather patterns have damaged food production all over the world this summer, and the UN and the World Bank have both issued ominous warnings about the food inflation that is coming. To those of us in the western world, a rise in the price of food can be a major inconvenience, but in the developing world it can mean the difference between life and death. Just remember what happened back in 2008. When food prices hit record highs it led to food riots in 28 different countries. Today, there are approximately 2 billion people that are malnourished around the globe. Even rumors of food shortages are enough to spark mass chaos in many areas of the planet. When people fear that they are not going to be able to feed their families they tend to get very desperate. That is why a recent CNN article declared that "2013 will be a year of serious global crisis". The truth is that we are not just facing rumors of a global food crisis - one is actually starting to unfold right in front of our eyes. (Read More....)
A nightmarish global food crisis is coming. Even though about a billion people around the planet currently live on the edge of starvation, those of us that live in the wealthy western nations still have more than enough food to eat. But it will not always be that way. With each passing year, the global population goes up while global supplies of fresh water go down. And you need lots of water to grow food. The "breadbaskets" of the world, the United States and Russia, are currently experiencing horrible droughts that scientists tell us are part of a long-term trend. In fact, some are projecting that the United States will soon see the return of Dust Bowl conditions. So what will the rest of the world do when the topsoil in the heartland of the biggest food exporter on the globe dries up and blows away? Just remember what happened back in 2007 and 2008. Food prices rose rapidly and it sparked massive food riots in more than two dozen different nations. So what will things look like when there is a very serious shortage of food around the globe?
On Thursday, the price of corn hit another brand new record high of $8.28 a bushel on the Chicago Board of Trade.
Unfortunately, (Read More....)