Yeah Hank, I know Obama caused this.

http://news.yahoo.com/s/afp/20110215/bs_afp/worldbankfoodpriceinflationpovertyg20

Nope Obama didn't.

But Bernanke sure had a hand in it

More Kudlow?

So Hankster if your theory is right why is inflation only seen in food and energy?

Do you think massive crop failures could have had any effect on food prices?

Here is one that took me about 15 seconds to find.

From Slate

So what is causing the rise in food prices—and might prices abate, easing tensions in Egypt? Unfortunately, the answer is probably no. Commodity speculation by hedge funds and financial entities might be contributing to the global run-up in prices. But much of the recent increase can be explained by the simple laws of supply and demand. First, there are constraints on yields, caused by recent droughts in Russia, floods in Australia and Pakistan, and increased production of crops for ethanol and other biofuels, rather than food. At the same time, demand for food commodities has continued to climb in big and fast-growing countries like India and China. And rising oil prices—a key component of food costs, given the cost of shipping goods—aren't helping, either.

So why haven't Americans noticed an uptick in costs at the supermarket? Mostly because raw food costs are a smaller proportion of overall food costs for American consumers. When you buy a box of Wheaties, you're paying for packaging, advertising, and processing, as well as the wheat, making the price more insulated from inflation. In addition, U.S. food producers tend to trade in the futures markets to smooth costs—meaning ingredient costs get locked in months or even years in advance.

So, the global food crisis has remained mostly invisible in the United States. But it is all too visible in Egypt and other Northern African emerging economies. And the economic forces do not look like they will abate any time soon.

From THe Economist - but what do economist know?? Hank please note this was published in 2008. I think that makes the issue hard to blame on actions not yet taken.

http://www.economist.com/node/11050146

Easier than that, Hank. Do two internet searches: "kudlow is an idiot" and "kudlow is a genius." All you have to do is read a few hits to get a good feel for how he's regarded in the world of economics.

I will admit that he is very highly regarded by the Tea Party, however. They want him running for Senator.

Pretty evident now why you idolize him.

GH,

I tried it. If you add Kadlow is a farking idiot you get even more hits.

Hank, I posted my research methodology, and the results concerning my opinion of Kudlow. That's usually considered input... well, by people in careers that require advanced education, anyway.

I suppose that would be relevant if someone here had been habitually cut-n-pasting, and vehemently defending Krugman or Reich. But since no one is, it ain't.

But a valiant attempt at redirection.

Hank, you curley headed fuk -- you criticize others for having an answer but you always seem to have the right answer.

On a side note, I don't think this will hit home as hard as the global scale. Domestic food crops are a pretty big deal in the U.S., possibly greater than anywhere else other than small northern European countries. Also, our country has no shortage of cropland, nor does Canada. There's a reason Egypt imports so much food.

If $hit does hit the fan, invest in a small parcel of land and grow potatoes. You can live off of vodka and mashed taters for a long time.

I thought it was the money printing thing?

Is it a supply/demand thing?

I'm not sure what to piss my pants about now.

This is why wheat farmers in the Palouse have grain silos.

Screw all your facts and data..it was me...I caused it. I need to go on a diet.

Hank is all of the above, especially the BS and derivative part.

Hank have another drink and reread the last few posts.

I'll give you a slug.

Zzzzzzzzzzzzzzzzzzing!!



And sh!t..........it was on me. You suck, Hank.

Hank, you can't call me McMindless. Only AM can and it's because she's Irish-American. Otherwise it's derogatory.