Rice, death and the dollar »
Posted By jovial 5 months, 3 weeks ago in Business & FinanceThe global food crisis is a monetary phenomenon, an unintended consequence of America's attempt to inflate its way out of a market failure.
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jovial
Grew up In Brooklyn. Joined the Navy in 1976 stayed in 10 years. Aircraft Electronics tech. Worked for Major Govt. contractor then settled in California ...
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jovial5 months, 3 weeks ago
Trying to get some wiggle room the economists of this administration aren't in the clear yet. The bailouts and interest cuts had a dire consequence. The devaluation of the dollar. Now let's sit back and watch as eveything from rice and flour to energy and oil sky rocket. It is seen by many in the world that the dollar will no longer be the dominant currency. The writing is on the wall. This has been a serious injustice to our children and grandchildren living in the world to come.
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Muleskinner5 months, 3 weeks ago
You are right in part. The ethanol bandwagon is a waste of resources & focus. It's a major part of the global food crisis. Grain that was going for food is now being squandered in a fruitless ethanol campaign that does nothing for greenhouse gas emissions and expends more energy than it produces. Of course, the reckless dropping of interest rates is also a major cause for inflation in this country, across the board.
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jovial5 months, 3 weeks ago
Read this! Ethanol isn't the cause, boy genius. It's the economy.
http://www.ethanolproducer.com/article.jsp?arti...
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jovial5 months, 3 weeks ago
After reading that one then read this..
http://www.ethanolrfa.org/objects/documents/159...
Then try to tell me I'm wrong.
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beavith15 months, 3 weeks ago
You're wrong.
Check out footnote 7. Then look to see if congress has reduced the Farm Program payments by that value.
Of course not. Congress is a bunch of pandermonkeys.
While it might make you feel better, and it sure is simple, but it ain't Bush.
Ethanol is a huge grain market distorter.
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engineer5 months, 3 weeks ago
Everything has gone wrong with the recklessness of the FED under the direction of Bush. The dollar is eroding rapidly which will make the life of the average American unbearable
Thanks for the post Jovial
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GHOSTWHOWALKS5 months, 3 weeks ago
That just about covers it. Just looks at the ones supporting Muffette Jr.
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Muleskinner5 months, 3 weeks ago
A little over one year ago:
1) Consumer confidence stood at a 2 1/2 year high;
2) Regular gasoline sold for $2.19 a gallon;
3) the unemployment rate was 4.5%.
Since voting in a Democratic Congress in 2006 we have seen:
1) Consumer confidence plummet;
2) the cost of regular gasoline soar to over $3 a gallon;
3) Unemployment is up to 5% (a 10% increase);
4) American households have seen $2.3 trillion in equity value evaporate (stock and mutual fund losses);
5) Americans have seen their home equity drop by $1.2 trillion dollars;
6) 1% of American homes are in foreclosure.
7) The Democratic controlled Congress' approval rating has tanked to 11% by the American People, down from 31% two years ago before they took control
America voted for change in 2006, and we got it!
Congress spends the money... not Bush. You need a civics lesson LOL
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AtheismIsRealityComment removed: User banned.2 Replies
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Gransater5 months, 3 weeks ago
I'm not sure its ignorance.
I think it may very well be arrogance in the belief that they can't do anything wrong in the chase of the fast and easy profit, by any means possible.
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Wolfie20075 months, 3 weeks ago
The price of food is skyrocketing because liberals insist on using food for fuel. Also, the price of oil is skyrocketings because of the demand for it on the world market. This could be solved by drilling for oil in anwr and both the Pacific coast and the gulf of Mexico. This problem was created by liberal democrats shilling for radical, communist, environmentalists. Long live George W. Bush and Dick Cheney.
Now start your negs truth deniers.
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GHOSTWHOWALKS5 months, 3 weeks ago
Wolfe you need to wake up and smell the coffe4e. If we were to drill in ANWAR the amount of oil would last maybe 6 months and would not cut imports. You need to spend more time watching the History channel and doing some basic research. Guess you're to dumb to do either.
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libsRfunny5 months, 3 weeks ago
"The price of food is skyrocketing because liberals insist on using food for fuel. Also, the price of oil is skyrocketings because of the demand for it on the world market. This could be solved by drilling for oil in anwr and both the Pacific coast and the gulf of Mexico."
Shhhhh ... don't remind them. And, while you are at it, don't remind them liberals cried about "racism" in denying loans to people not deserving credit, then cried for the Fed to lower rates when the same undeserving folk suddenly were defaulting on loans - even when it came nowhere near "crisis" levels.
Now they are whining, saying the fed devalued the dollar by lowering interest rates. Yeah, they pushed for ethanol and "alternative" fuels, and they got it. And they have stood in the way of domestic oil drilling and exploration for decades. Now it's biting everyone in the hind end.
Congress has been run by Dems for almost two years now. Things have gotten nothing but worse.
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mntnman4445 months, 3 weeks ago
Liberals insist on using HEMP for fuel (and food)...it's the neocons who are opposed to it.
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Muleskinner5 months, 3 weeks ago
I had an interesting conversation with a grain (farm comodities) trader from Switzerland a couple weeks ago. He says the grain cost explosion is just starting. Look for doubling in the near future (again). He says ethanol is a major reason, as is Chinese stockpiling. We need to can the dumb ethanol program worldwide & concentrate on a more promising energy alternative like hydrogen, generated by nuclear (& other non petroleum) power.
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Gransater5 months, 3 weeks ago
So tell us all why some refineries are operating at very reduced capacity, in Texas, because of reduced demand.
Tell us why Saudi Arabia refuses to increase production, over and above their current daily production SURPLUS?
Tell us what the percentage of crude extracted from Alaska is actually exported to Asian countries, and not to the continental US.
Tell us why research into other forms of energy for our cars is light years behind research for combustion engines. It certainly couldn't have been because alternate ideas were tabled as early as in the 1920's now could it?
We aren't demanding our food be used for energy. It was proven before it even started that it wasn't a viable solution, only an energy consuming alternative last case scenario.
Come up with something new and original that has constructive value, rather than oft repeated worthless platitudes.
Talking about negs. I do wonder who the "negger" in this thread is, hitting almost everyone above.
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hyperbola5 months, 3 weeks ago
Can you imagine a twenty-fold increase in oil and gas production? That is what would be needed if the rest of the world were to flame off energy in the same style as americans. We have to reduce our use of energy by a factor of two every decade for the next 20-30 years. The first halving is easy - just copy what europe and japan have already done (and can still maintain a lifestyle not very different from ours).
As for cars, the US has built itself into a dead-end, incredibly wasteful trap with cars. The sooner we start on alternatives the better.
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hyperbola5 months, 3 weeks ago
The incredible irresponsibility of the bushies in borrowing to spend on wars and to "rescue" corrupt corporations (yet again using taxpayers money as the GOP has done repeatedly ever since Reagan) is simply hastening the end of the freelunch that we have had as the world's reserve currency. Less than a century ago Sterling disappeared as the world's reserve currency and the same process is now underway with our dollar. Get ready for a serious drop in american life style.
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hdthehn5 months, 3 weeks ago
But don't you know that according to our fearless leader Dickless Cheney, Ronald Reagan proved that deficits don't matter so lets borrow and spend like there is no tomorrow. Its the American way don't you know.
For example, the borrow and spend strategy is working perfectly in Iraq.
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LumFan5 months, 3 weeks ago
I think that the article was a bit off in one area. Since the sovereign wealth funds are unable to buy their way into the US economy (unlike the Brits, Japanese, and others previously did), they are doing a slow leveraged buyout of the USA, thanks to the fiscal policies of Reagan-Bush I-Bush II.
The Neo-Cons complain about "tax and spend" Democrats. What about complaints about "borrow and REALLY spend" Neo-Con Republicans?
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ETproductions5 months, 3 weeks ago
Truth is that the RepugniCons beginning with Reagan and continuing with Bushes I and II have presided over the greatest increase in size and reach of the US Government in our history, and the largest tax increase in US history as well.
They are just leaving it for our children and grandchildren to pay off the tax.
Meanwhile, the wealthiest 1% have done VERY well. The money being siphoned off into debt has flowed exclusively to the top 4% and almost entirely to the top 1%. The one percenters have doubled their share of the nation's total wealth, form owning 25% to owning 50% in the years from Reagan to now.
When they have the USA drained completely dry, these multinationals will move on and let the Chinese Army come in to collect from the rest of us the debt they ran up.
This is a big IQ test, and the true powers behind the RepugniCon party are still betting most Americans will fail it yet again.
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thoughtforsale5 months, 3 weeks ago
What I am feeling so sorry about, is the fact that those who really suffer from the rising price of their basic nutrition are the poorest of the poor. We in the western world won´t even recognize this development for a long time. But if the main producers stopped their exportation, some day, the problem will reach us, too.
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sotiris-k5 months, 3 weeks ago
Ethanol production by farming must be studied carefully and find out how much fossil fuel it takes to produce the mass unit of ethanol. If as some work suggests the fossil fuel required is more(and in fact even if its just nearly the same)the process must be banned! Free market is a stupid concept when the implications are such that ultimately eliminate the reasons to even have a market! Additionally it is becoming apparent that the rise in oil prices is partially due to futures speculative trading. Essentially with the decline of the $ hedge funds and complex derivative structures are targeting the futures market for oil as an investment vehicle. This is what happens when your currency is in bad shape, the economy is not booming, the stock market is left in ashes for 8 yrs. Cannibalism takes place. This is the dark side of a self destructing economy. The market is claimed to be free and celebrated for that property but those that see it this way fail to realize something important.
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sotiris-k5 months, 3 weeks ago
Eventually the market will find violent ways to express that freedom if you do not carefully study the implication of every newly found money making idea. The crisis in oil is hiding behind almost all those food problems. Ethanol is adding likely to the problem. We need leadership that will tell the people the truth and expose all the interests that in order to make more money create the conditions that enslave the totality of society in trajectories of disaster. Of course there is plenty of ways to feed everyone on the planet economically. It is not a priority. It has to become one. At the same time it has to become a priority to all those third world countries that are growing exponentially to control their populations . Having the advanced world grow at 1% or less per year and the developping at 2-3% is a huge problem. Ignorance ,blind obedience in religious intolerance, low education in third world and simplistic approach from the west is creating a huge problem.
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sotiris-k5 months, 3 weeks ago
While massively alarming issues are emerging we have corrupt idiots make terrorism the ultimate issue of our times. This at the peril of other vastly more pressing problems. Our planet faces emerging crisis and terrorism is the least of them. However it will become more important eventually because we are not treating it right. We make the wrong subject the priority and then we do a bad job at it too. All because the true interest behind all those efforts is not the achievement of tangible progress in any of them but rather the emergence of methodologies to make more money for special groups in defense, oil energy markets, agriculture etc. Seems overly used as argument but its the truth. All you have to do is see who benefits every single time by all those problems.
We ought to self reflect and understand that immediate problems exist in the following;
1. Energy production
2. Environment
3. Overpopulation
4. Religious extremism
5. Poor education
6. Weak role of science in leadership
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AtheismIsRealityComment removed: User banned.
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Grrr5 months, 3 weeks ago
So now would you care to tell us 'libs' where you CONs get such horribly mangled info? Let me guess: FROM EACH OTHER.
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Muleskinner5 months, 3 weeks ago
You need to go all the way back. Not just one year & cloture votes aren't the only fillibuster activity.
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