Sunday, July 3, 2011

USDA Reports Food Shortages: Wall Street 'Caught Off Guard' by Severity

Several recent headlines indicate that food prices will continue their swift climb upward.  These troubling new reports show that agriculture production and stored grains are critically low and experts are now predicting food shortages.

Look at a few of today's mainstream headlines: Drought threatens global rice supply in the India Times; VA farmers say heat taking toll on crops, Associated Press; Severe food shortage follows lack of rainfall in Syria; and, finally, Corn prices bolt as USDA downsizes crop estimates, which states that, "Commodity professionals were caught off guard Wednesday by a U.S. Department of Agriculture report showing 1 million fewer acres of corn planted this year than earlier projected, and almost 300 million fewer bushels of corn in storage." And these articles don't begin to address crops being damaged by the toxic rain from the Gulf oil disaster.

We are back to recession economics and rapidly heading toward a deeper, longer “Third Depression.”  With all recent economic indicators setting new record lows and deficits at record highs, this ship is only going one way folks, down, down to Chinatown.  This WTC-Building 7-style-controlled-demolition of the U.S. economy has long been engineered by the borderless banksters and will likely continue to collapse at the rate of free-fall gravity.  With all of the manufactured confusion it may be difficult to know where best to invest your limited assets, but it seems to be clear that Food is on the march.

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