Those of us who have been able to go grocery shopping this month have noticed about a third less in our shopping cart than was there in previous months. We have been told the bursting of the housing bubble is the reason we have lost our jobs and been made impoverished. Well there is now a new bubble we need to worry about. It is being described in mainstream media as the food bubble. Apparently the insane amount of money the Federal Reserve has been printing is starting to show its affects on the commodities markets.
This is and is not an issue involving supply and demand. You see, the 21st century farmer is selling his crops before they are even grown to speculators. The whole idea of the speculative selling was originally put forth as a way to insure stable prices to the farmer. However, as the dollar is being devaluated at an alarming rate, the crops sold next year at a price that would seem reasonable this year are going to leave the farmer short.
Continue reading “99ers – Another Week, No Tier 5, No Jobs”