Friday, 20 June 2008

Get Yours

The price of living is going up, as the London Telegraph reports. The World Bank now believes that some 33 countries are in danger of being destabilized by food price inflation, while Ban Ki-Moon, the UN secretary-general, said that higher food prices may wipe out progress towards reducing poverty and could harm global growth and security.

Sixteen people died recently in Haitti during violent protests over the cost of rising food prices. The Wall St Journal is suggesting that we start hoarding food before major retailers start rationing supplies.

The extent of the crop damage in the Midwest from recent floods has yet to be tallied, but Iowa alone is estimated to have suffered $2.7 Billion in property damage and lost crops. As a result, the price of corn soared to an all time high of $8 a bushel.



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