Tuesday, February 15, 2011

Food Riots Are Every Country's Future News Story

Although many Egyptians hated Mubarak and wanted real democratic elections anyway, the catalyst for the riots in Egypt (as well as Tunisia and other places) have been an increase in food prices amid poverty and dwindling resources.

Of course, this is what happens when everyone's reserves are part of the same market. Even President Evo Morales of Bolivia, considered a hero the poor, had to bail out of a public appearance over concerns for his safety:
Mr Morales was due to address a parade to commemorate a colonial-era uprising in the mining city of Oruro. 
But he and his team left the city to avoid a violent demonstration by miners throwing dynamite. 
There have also been protests in other Bolivian cities over the shortage of sugar and other basic foodstuffs.
But why ARE food prices so high worldwide now?

1. Economic manipulation caused by ethanol production, US monetary policy, and/or commodity speculation.

2. Bad weather ruining major agricultural output.

3. Bad farming practices, like in India and China where hundreds of millions of people are fed on grain produced by overpumping aquifers.

Regardless, December 2010 had the highest staple food prices on record. If these prices can't be lowered through economic reform or agrarian output, we will see more hungry rioters toppling governments across the world.

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