Food Shortage, Empty Store Shelves when we hit Hyperinflation!
As the dollar continues to be devalued by the mass spending of the government we can expect hyperinflation. We are already seeing inflation during this dollar devaluation process. Hyperinflation will hit once the dollar collapses and hits rock bottom. This is what you can expect. Most people are not preparing for this. Most people do not want to know about this, they want it to simply go away. Well so do I and so do you. But if you want to survive you must prepare.
Once the dollar is deemed worthless, masses of people will rush to the stores and buy up as much food as they can. This will empty out the stores. There will be no food for some time. There will be ciaos, there will be food riots, there will be government food subsidies and massive lines. People that are not prepared will go hungry and have to fight for food.
Here is another example of panic buying when an area of Europe had excessive snow creating a weather disaster in their area cutting off food supplies. This is another reason to be prepared.
Welcome to the currency of the future! When youre hungry nothing else matters. Did you know that 25% of the country is supporting everyone else in this economic crisis?
Record food prices are likely to be sustained this year because of high crude oil costs and smaller crops, said the United Nations Food & Agriculture Organization.
The potential risk is crude oil may continue to go higher, and if floods and drought happen again, well face further price increases, Hiroyuki Konuma, the FAOs regional representative in Asia, said in an interview today. Now were in a much better situation than the crisis in 2008.
Global food costs advanced to an all-time high in February, according to an index compiled by the FAO. The increase has contributed to riots across North Africa and the Middle East that toppled leaders in Egypt and Tunisia. Prices surged as bad weather ruined crops from Canada to Australia and Russia banned grain exports after its worst drought in a half-century.
We will get an increase in production but not sufficient to ease the market, said Abdolreza Abbassian, a senior FAO economist. High, volatile prices will continue in 2011 and even in 2012, he said in a video briefing today in Bangkok.
An index of 55 food commodities climbed 2.2 percent to a record 236 points last month, from 230.7 in January, the UN said March 3. Wheat advanced 60 percent in Chicago in the past year, corn gained 92 percent and soybeans rose 46 percent. Prices of palm oil, the worlds most consumed cooking oil, reached a 35- month high of 3,967 ringgit a metric ton on Feb. 10. Corn, Wheat
Turmoil in oil-producing countries including Libya has pushed crude above $100 a barrel. Higher crude prices make biofuels produced from crops more competitive, while raising the cost of tractor fuel and fertilizer for farmers.
Global food prices probably will rise in the first half of this century because of an expanding population and higher incomes, slower crop-yield growth and the effect of climate change, Ross Garnaut, the Australian governments climate-change adviser, said last week in Canberra.
Corn and wheat are under pressure from supply shortages as climate change and natural disasters have reduced production, leading to higher food prices, according to Konuma.
We have to be extremely cautious about what is going to come in 2011-2012, Abbassian said. Spring is going to be extremely critical, when farmers will decide what crop theyre going to plant. In many major producing regions, we have already hit maximum acreage. So the war is going to go on in terms of acreage. Food Security
Wheat production is estimated to total 645.4 million tons, lower than the forecast 662.7 million tons of demand for the year 2010-2011, according to the U.S. Department of Agriculture.
Corn output is estimated at 814.3 million tons, compared with 836 million tons of demand, while rice production is estimated at 451.6 million tons, slightly above consumption of 451 million tons, it said.
Investments in agriculture to boost output and productivity are important to improve food security, Konuma said. About 947 million people still live in poverty in Asia, the FAO says.
World food production will have to increase by 70 percent by 2050 to meet increasing demand from an expanding global population, which is projected to rise to 9.1 billion by 2050 from 6.9 billion at present, Konuma said.
Rice prices rose to records in January in Indonesia, the fourth-most-populous nation, prompting the government to suspend import duty on the grain, FAO said last week. Prices remained at record highs last month in Bangladesh, the largest South Asian rice buyer, because of low inventories, according to the report.
North Korea and Afghanistan also face the risk of food shortages and rising prices, Konuma said.