(CNN) -- Prediction: 2013 will be a year of serious global crisis. That crisis is predictable, and in fact has already begun. It will inescapably confront the next president of the United States. Yet this emerging crisis got not a mention at the Republican National Convention in Tampa. We'll see if the Democrats do better.
The crisis originates in this summer's extreme weather. Almost 80% of the continental United States experienced drought conditions. Russia and Australia experienced drought as well.
The drought has ruined key crops. The corn harvest is expected to drop to the lowest level since 1995. In just July, prices for corn and wheat jumped about 25% each, prices for soybeans about 17%.
And if food prices surge again? China is especially vulnerable to food cost inflation. In just one month, July 2011, the cost of living jumped 6.5%. Inflation happily subsided over the course of 2012. Springtime hopes for a bumper U.S. grain crop in 2012 enabled the Chinese central bank to ease credit in the earlier part of the summer. Now the Chinese authorities will face some tough choices over what to do next.
Will 2013 bring us social turmoil in Brazil, strikes in China or revolution in Pakistan? The answer can probably be read in the price indexes of the commodities exchanges -- and it is anything but reassuring.
- Loss of national economic growth, slowing down of economic development
- Damage to crop quality, less food production
- Increase in food prices
- Increased importation of food (higher costs)
- Insect infestation
- Plant disease
- Loss from dairy and livestock production
- Increased desertification - Damage to animal species
- Reduction and degradation of fish and wildlife habitat
- Lack of feed and drinking water
- Food shortages
- Loss of human life from food shortages, heat, suicides, violence
- Mental and physical stress
- Water user conflicts
- Political conflicts
- Social unrest
Originally posted by DarknStormy
Australia hasn't been in a drought this year.. Don't know where they are getting their information but it has been wet all year here... If anything, there is too much water here right now.
The last remaining areas of New South Wales have been declared free from drought, officially ending Australia's "Big Dry" after almost a decade. But the problems may only be starting.
Originally posted by littled16
reply to post by elitegamer23
It's not only affecting the costs of crops but the cost of beef and poultry already. I went to the grocery store 2 days ago and the price of a whole chicken had gone up over $2. I am afraid of what the repercussions of all the bad weather conditions are going to be by this time next year.