"When misguided public opinion honors what is despicable and despises what is honorable, punishes virtue and rewards vice, encourages what is harmful and discourages what is useful, applauds falsehood and smothers truth under indifference or insult, a nation turns its back on progress and can be restored only by the terrible lessons of catastrophe." … Frederic Bastiat


Evil talks about tolerance only when it’s weak. When it gains the upper hand, its vanity always requires the destruction of the good and the innocent, because the example of good and innocent lives is an ongoing witness against it. So it always has been. So it always will be. And America has no special immunity to becoming an enemy of its own founding beliefs about human freedom, human dignity, the limited power of the state, and the sovereignty of God. – Archbishop Chaput

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Tuesday, February 15, 2011

World Food Bank warns of Rising Food Prices

Along the line of my theme of the day, which is an inflation outbreak around the globe, comes this story originating with comments by World Bank President Robert Zoellick about the dangerous political and social effects arising from the increase in the basics of life.

I do find it rather remarkable that among the reasons he cited for the hefty increase, he conveniently omitted the effect of Federal Reserve monetary policy and its link to speculative demand for some of these very same commodities. While it certainly is not the sole cause, it is certainly among the causes and no objective view of this phenomenon should be excluding it.

Food Prices at Dangerous Levels: World Bank Chief

World Bank chief Robert Zoellick Tuesday said global food prices have reached dangerous levels that could complicate fragile political and social conditions in the Middle East, and warned that their impact also bears watching across Central Asia.

World Bank data released Tuesday showed higher food prices has pushed 44 million more people into extreme poverty since June 2010 in developing countries.
Zoellick said although higher food prices were not the main reason that led to violent protests in Egypt and Tunisia, it was an aggravating factor and could become worse.

You can read the main story here:

http://www.cnbc.com/id/41599988?par=RSS
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