Environment & Energy
Related: About this forumAttempts to avoid food crisis may worsen problem
Many governments have watched on the sidelines as drought in the U.S. farm belt sent prices of corn (maize) soybeans and wheat soaring, hoping that the market would eventually ease. However, their nerve seems to have broken with Mexico, the world's second biggest corn importer which suffered "tortilla riots" in 2007, making a huge purchase last week.
With fears growing that drought will also cut the wheat harvest in the Black Sea region, buyers in the turbulent Middle East are now also pouring on to the markets.
"A cascade effect is not inconceivable and may well be taking place - wheat prices have shot up nearly 50 percent since the beginning of July," said J.Peter Pham, a director with U.S. think tank the Atlantic Council.
"If such proves to be the case, some of the most fragile states may well be shaken," added Pham, who also advises U.S. and European governments on strategic issues.
Tick... tick... tick...
phantom power
(25,966 posts)pscot
(21,024 posts)It comes unbidden.
Too true to be a sidesplitter, though...
Wait, that's what pp's image was - a real side-splitter...
phantom power
(25,966 posts)but in the end, the actual real photos of famine were too upsetting for me, and I couldn't bring myself to use them. So I settled for something more metaphorical.
Of course, anybody can easily enough see some by going to google and doing a simple image search on "famine."
GliderGuider
(21,088 posts)It was a great image, BTW.
CRH
(1,553 posts)now descend to a hoarding speculation, using instinctive action insuring survival of the fittest, or perhaps the richest.
Keep them bandit water contracts in Africa, appearances are, they will be needed more for survival than profit!
Can anyone quantify or define, systemic economic chaos? Supply fails demand, who is chosen to suffer?