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The 2010 Food Crisis Means Financial Armageddon

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posted on Aug, 5 2010 @ 11:01 PM
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The 2010 Food Crisis is different. It is THE CRISIS. The one that makes all doomsday scenarios come true. The government bailouts and central bank interventions, which have held the financial world together during the last two years, will be powerless to prevent the 2010 Food Crisis from bringing the global financial system to its knees.

Financial crisis will kick into high gear


So far the crisis has been driven by the slow and steady increase in defaults on mortgages and other loans. This is about to change. What will drive the financial crisis in 2010 will be panic about food supplies and the dollar’s plunging value. Things will start moving fast.

Normally food prices should have already shot higher months ago, leading to lower food consumption and bringing the global food supply/demand situation back into balance. This never happened because the United States Department of Agriculture (USDA), instead of adjusting production estimates down to reflect decreased production, adjusted estimates upwards to match increasing demand from china. In this way, the USDA has brought supply and demand back into balance (on paper) and temporarily delayed a rise in food prices by ensuring a catastrophe in 2010.


An astounding lack of awareness


The world is blissful unaware that the greatest economic/financial/political crisis ever is a few months away. While it is understandable that general public has no knowledge of what is headed their way, that same ignorance on the part of professional analysts, economists, and other highly paid financial "experts” is mind boggling, as it takes only the tiniest bit of research to realize something is going critically wrong in agricultural market.


USDA estimates for 2009/10 make no sense


All someone needs to do to know the world is headed is for food crisis is to stop reading USDA’s crop reports predicting a record soybean and corn harvests and listen to what else the USDA saying.

Specifically, the USDA has declared half the counties in the Midwest to be primary disaster areas, including 274 counties in the last 30 days alone. These designations are based on the criteria of a minimum of 30 percent loss in the value of at least one crop in the county. The chart below shows counties declared primary disaster areas by the secretary of Agriculture and the president of the United States.


www.marketskeptics.com...


[edit on 5-8-2010 by wonderworld]




posted on Aug, 5 2010 @ 11:32 PM
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Yeeeap...

Maybe then, countries like Australia will stop building open-cut coal mines in prime agriculture land for the quick buck - and humanity as a whole can start to take the long view.

star + flag




ETA: Might be of interest;


[edit on 5/8/10 by ghostsoldier]



posted on Aug, 5 2010 @ 11:35 PM
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I get the impression reading the article, that last year was a doozy of a bust and this year is the knockout punch.

If the premise is for real then we are in big trouble by mid winter id say....The world will have to eat the animal feed instead of the luxury of running it through a protien producing animal..



 
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