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Panaconda Donating Member (672 posts) Send PM | Profile | Ignore Fri Sep-24-10 09:36 PM
Original message
The Vultures of Capitalism- World on Brink of Major Food Crisis


UN Warned of Major New Food Crisis at Emergency Meeting in Rome

Environmental disasters and speculative investors are to blame for volatile food commodities markets, says UN's special adviser

by John Vidal and agencies

The world may be on the brink of a major new food crisis caused by environmental disasters and rampant market speculators, the UN was warned today at an emergency meeting on food price inflation.

The UN's Food and Agriculture Organisation (FAO) meeting in Rome today was called last month after a heatwave and wildfires in Russia led to a draconian wheat export ban and food riots broke out in Mozambique, killing 13 people. But UN experts heard that pension and hedge funds, sovereign wealth funds and large banks who speculate on commodity markets may also be responsible for inflation in food prices being seen across all continents.

In a new paper released this week, Olivier De Schutter, the UN's special rapporteur on food, says that the increases in price and the volatility of food commodities can only be explained by the emergence of a "speculative bubble" which he traces back to the early noughties.

"2001, food commodities derivatives markets, and commodities indexes began to see an influx of non-traditional investors," De Schutter writes. "The reason for this was because other markets dried up one by one: the dotcoms vanished at the end of 2001, the stock market soon after, and the US housing market in August 2007. As each bubble burst, these large institutional investors moved into other markets, each traditionally considered more stable than the last. Strong similarities can be seen between the price behaviour of food commodities and other refuge values, such as gold."

...

http://www.guardian.co.uk/environment/2010/sep/24/food-crisis-un-emergency-meeting-rome
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Starry Messenger Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-24-10 09:52 PM
Response to Original message
1. k & r
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Skink Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-24-10 09:57 PM
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2. Is this going to effect the price of Corn dogs?
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Fla_Democrat Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-24-10 10:11 PM
Response to Reply #2
5. Corn dogs aren't food
:evilgrin:







:smoke:



I had another heading in mind, but doubt many would have seen the humor in it.
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billlll Donating Member (434 posts) Send PM | Profile | Ignore Fri Sep-24-10 09:58 PM
Response to Original message
3. solutions?
Edited on Fri Sep-24-10 10:10 PM by billlll
Last year ... Only eno because world dipped into food reserves .. I read somewhere.

Perhaps "front yard gardens"

End speculation

Orbital sunshades to end repeats of russian dry shrub fires.

.Google these:

Orbital sunshade dr angel

Cost 2 Trillion but that tiny compared
To cost of Global Roasting.

Kyoto is...slow to never.
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DJ13 Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-24-10 10:00 PM
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4. Prepare for more stealth inflation
Looked at a $3 box of corn flakes lately?

Remember when they used to be 20oz?

Now they're 12oz.......and the same price.

In a few months maybe 10oz?

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moondust Donating Member (1000+ posts) Send PM | Profile | Ignore Fri Sep-24-10 10:12 PM
Response to Reply #4
6. Yep.
Coincidentally, just a couple hours ago I was looking at a box of ten Johnson & Johnson bandages. A month ago the same package had twelve. Same price but new spiffy box design!

I was wondering if old tricks like this are figured into the cost of living indexes.
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billlll Donating Member (434 posts) Send PM | Profile | Ignore Fri Sep-24-10 10:21 PM
Response to Reply #6
7. 20 lbs grain eaten by cow to grow one lb beef
Edited on Fri Sep-24-10 10:25 PM by billlll
Vegetarianism wd release that grain for people to eat. Veg.
Can provide all protein u need.

Cellph excuse textng.
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Panaconda Donating Member (672 posts) Send PM | Profile | Ignore Sat Sep-25-10 07:43 AM
Response to Reply #7
9. Wouldn't work
The savage capitalists would then corner the market on Jerusalem artichokes and avocados. Better to get to the root of the problem.

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Cal Carpenter Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 10:29 AM
Response to Reply #9
12. Yes indeed
It's about the systems, not the lifestyle choices of individuals (or the inherent assumption that most 'consumers' even have 'choices')
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Scuba Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 07:41 AM
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8. Yeah, but as long as the rich get richer, it'll eventually trickle down.
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TBF Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 08:12 AM
Response to Original message
10. K&R nt
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blindpig Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 09:30 AM
Response to Original message
11. Nothing is safe

All is grist for the capitalist mill, they take their squeeze out of everything, our health, education, the air, water, our food.

We need them the way a dog needs ticks.
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Mimosa Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 11:35 AM
Response to Original message
13. In the 60s this was predicted because of over-population
I chose not to have children.
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Big Bill Jefferson Donating Member (33 posts) Send PM | Profile | Ignore Sat Sep-25-10 11:45 AM
Response to Reply #13
14. Let me recommend the following essay
Malthus’ Essay on Population at Age 200:
A Marxian View
by John Bellamy Foster

...

The First Essay

The full title of the First Essay was An Essay on the Principle of Population as it Effects the Future Improvement of Society; with Remarks on the Speculations of Mr. Godwin, M. Condorcet and Other Writers. As the title indicates it was an attempt to intervene in a debate on the question of the future improvement of society. The specific controversy in question can be traced back to the publication in 1761 of a work entitled Various Prospects for Mankind, Nature, and Providence by Robert Wallace, an Edinburgh minister. Wallace, who in his earlier writings had demonstrated that human population if unchecked tended to increase exponentially, doubling every few decades, made a case in Various Prospects that while the creation of a "perfect government," organized on an egalitarian basis was conceivable, it would be at best temporary, since under these circumstances "mankind, would increase so prodigiously that the earth would be left overstocked and become unable to support its inhabitants." Eventually, there would come a time "when our globe, by the most diligent culture, could not produce what was sufficient to nourish its numerous inhabitants." Wallace went on to suggest that it would be preferable if the human vices, by reducing population pressures, should prevent the emergence of a government not compatible with the "circumstances of Mankind upon the Earth."

Wallace's argument was strongly opposed by William Godwin in his Enlightenment utopian argument for a more egalitarian society, which he enunciated in his Enquiry Concerning Political Justice and its Influence on Morals and Happiness. First published in 1793, it was followed by a second edition in 1795 and a third edition in 1797 (the year before Malthus' essay appeared). In answer to Wallace, who had claimed that excessive population would result eventually from any perfect government, thus undermining its existence, Godwin contended that human population "will perhaps never be found in the ordinary course of affairs, greatly to increase, beyond the facility of subsistence." Population tended to be regulated in human society in accordance with conditions of wealth and wages. "It is impossible where the price of labour is greatly reduced, and an added population threatens still further reduction, that men should not be considerably under the influence of fear, respecting an early marriage, and a numerous family." For Godwin there were "various methods, by the practice of which population may be checked; by the exposing of children, as among the ancients, and, at this day, in China; by the art of procuring abortion, as it is said to subsist in the island of Ceylon ... or lastly, by a systematical abstinence such as must be supposed, in some degree, to prevail in monasteries of either sex." But even without such extreme practices and institutions, "the encouragement or discouragement that arises from the general state of a community," he insisted, "will probably be found to be all-powerful in its operation."

Malthus set out to overturn Godwin's argument by changing the terrain of debate; rather than contending, like Wallace before him, that a "perfect government" would eventually be undermined by the overstocking of the earth with human inhabitants, Malthus insisted that there was a constant tendency toward equilibrium between population and food supply. Nevertheless, population tended naturally when unchecked to increase at a geometrical rate (1, 2, 4, 8, 16), while food supply increased at best at an arithmetical rate (1, 2, 3, 4, 5). Under these circumstances attention needed to be given to the checks that ensured that population stayed in equilibrium (apart from minor fluctuations) with the limited means of subsistence. These checks, Malthus argued, were all reducible to vice and misery, taking such forms as promiscuity before marriage, which limited fecundity (a common assumption in Malthus' time), sickness, plagues, and—ultimately, if all other checks fell short, the dreaded scourge of famine. Since such misery and vice was necessary at all times to keep population in line with subsistence any future improvement of society, as envisioned by thinkers like Godwin and Condorcet, he contended, was impossible.

Malthus himself did not use the term "overpopulation" in advancing his argument—though it was used from the outset by his critics.2 Natural checks on population were so effective, in Malthus' late-eighteenth-century perspective, that overpopulation, in the sense of the eventual overstocking of the globe with human inhabitants, was not the thing to be feared. The problem of an "overcharged population" existed not at "a great distance" (as Godwin had said), but rather was always operative, even at a time when most of the earth was uncultivated. In response to Condorcet he wrote "M. Condorcet thinks that it cannot .. be applicable but at an era extremely distant. If the proportion between the natural increase of population and food which I have given be in any degree near the truth, it will appear, on the contrary, that the period when the number of men surpass their means of subsistence has arrived, and that this necessary oscillation, this constantly subsisting cause of periodical misery, has existed ever since we have had any histories of mankind." In the 1803 edition of his work on population he wrote, "Other persons, besides Mr. Godwin, have imagined that I looked to certain periods in the future when population would exceed the means of subsistence in a much greater degree than at present, and that the evils arising from the principle of population were rather in contemplation than in existence; but this is a total misconception of the argument."

...

http://monthlyreview.org/1298jbf.htm
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blindpig Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 11:50 AM
Response to Reply #13
15. Overpopulaion is largely a biproduct of Capitalism.

Capitalism creates poverty, by forcing workers to sell their labor at the lowest possible price. It also forces small farmers off the land to make way for capitalist agriculture, they end up in big city slums where they and to the 'reserve army of the unemployed'. Poverty is associated with high replacement rate, it has been shown that reducing poverty and provided women with education will definitely reduce replacement rate.
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billlll Donating Member (434 posts) Send PM | Profile | Ignore Sat Sep-25-10 06:15 PM
Response to Reply #15
17. true! PS pls, poster of the earlier
Scholarly post on malthus etc. The long post... Pls edit into brief modern language... I'm pressed for time but looks valuable. Tks!
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leftstreet Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 11:51 AM
Response to Original message
16. K&R
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maryf Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Sep-25-10 07:22 PM
Response to Original message
18. K&Rnt
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