Ah, the tangled web that Ben Bernanke and the inkjets weave....
Got Cocoa Puffs? Better stock up... And congrats to HP'ers who saw this coming and bought DBA...
Wheat prices in biggest one-day rise
Prices of top-quality wheat jumped 25 per cent to a record high on Monday in their largest one-day increase as Kazakhstan, one of the largest grain exporters, said it would impose export tariffs to curb sales.
The move, which follows similar export restrictions in Russia and Argentina, is likely to put further pressure on already tight global wheat supplies, analysts said.
February 27, 2008
Who'd have thunk we'd have WheatPANIC?
Subscribe to:
Post Comments (Atom)
24 comments:
high wheat prices aren't a bad thing here in the U.S. maybe people here can loose some weight.using wheat products as a filler is a terrible thing.in my house we eat greens as a filler except for lettuce which is just overpriced green water.
but whenever we feel like having a pizza, we make it at home from scratch.tastes better and a lot cheaper(around $3.50 with any topping vs papa johns lunch special $6.99 or $12.99 regular price) than delivery.I truly feel sorry for those who can't cook,which is most people in this restaurant filled land.
wheat panic? bring it on! lol!!!
I'm gluten intolerant. Can't eat much wheat anyways. And I agree with the fact that people in general eat too much. Not just the fast food eating couch potatoes but the yuppie foodies too.
I look at this as a forced diet for overweight Americans.
soon 1 ounce of gold will buy a house.
I predicted this about 8 months ago as the effects of the Ethanol scam began to become apparent. (Not on this blog but on MaxedOutMamma.)
Substitution effects (more wheat consumption to make up for higher prices for corn due to wasteful use in producing Ethanol) were sure to produce this outcome.
When will the politicians stop scamming us? They wanna look good to the greenies so they waste perfectly good corn producing less energy than was consumed in the process.
We turn 30% of our corn into fuel (inefficiently and expensively)
Saudi Arabia turns salt water into fresh water and grows wheat in the desert (inefficiently and expensively)
Anyone see a trend????
Marky Mark
This does not affect The Greatest Real Estate Agent in the World. I'm permanently on the Atkins diet.
Bush will declare war on shitstan today and claim the wheat is a weapon of mass destruction...
Stay Tuned for more on the US War Network.
I love those Russians and former soviet states. They are completely breaking us like we completely broke them. A little natural gas dispute for western Europe here, a little cornering of the palladium market there. Sprinkle in some wheat tariffs and you are doing a nice job of hastening our downfall.
Price inflation on things we need versus price deflation on things we want...indeed!
Visualize local neighborhood gardens...it's a good thing and will soon be needed and wanted.
Good times are a comin'
Walmart and $0.99 value menus at fast food restaurants will still be around. I don't see a forced diet in America. Just a shift to more value-oriented junk food.
But there's no inflation, how can this be happening?
Ex-baseball team manager, 12 step graduate and former US 2 term el presidente Jorge W. Bushco today formally declared war on wheat.
The crowd at the White House was chanting "I've got RELIGION NOW" and "GO GEORGE" take us to WAR!
Vice President 'shotgun' Dick Cheney was seen talking to Dubai via the Halliburton direct line, which is color coded green (for free money) for quick identification.
Former reformed drinker Bush was said to comment "we'll smoke that wheat out of thier caves" repeatadly before trying to exit through a locked door.
US SS men were on hand to help the perpetually confused and disorientated leader-of-the-free-world off the stage into a waiting helicopter where he promptly bashed his head on the entrance door. Bush was flown to Walter Reed for emergency care but the helicopter couldn't land as protesting war veterans were demonstrating the poor care and conditions at the hospital for veterans.
Bush, meanwhile was recovering nicely, or not...
This is due to the green biofuels scam. All the farmland is being used to grow corn for ethanol instead of wheat for food. Ethanol is barely cleaner and a terrible source for fuel plus it still has to be subsidized by taxpayers. Can somebody flush that DC toilet?
Good, we don't need carbs in our fat diets. I wonder if Argentina found any gas for the upcoming freezing winter. Not good to have a ton of wheat when your bones are too frozen to sell it.
Wasn't the shortage of bread one of the main reasons that Louis XVI and Marie Antoinette lost their heads on Place de la Concorde?
I like to think that rising wheat prices are great for the economy, just like rising home prices were!
We can take leverage ourselves into wheat, and keep selling bushels of wheat to one another for higher and higher prices. It will be a totally new paradigm for wheat and wheat-related products. We'll all be rich!
Are you missing the Boom? Get onto the wheat ladder now or be priced out forever.
Pretty soon, wheatowners will be able to take out Wheat Equity Lines of Credit (WheLOCS for you Latin buffs), and 60% of the average wheatowner's wealth will be in his wheat equity. Leveraging youself into your first bushel of wheat will be a ticket into the middle class, and a great step on the road to building wealth.
As ridiculous as the above scenario sounds, was it any more rediculous to think that we could accomplish the same thing through residential real estate? Rising asset prices in any class do not create new wealth.
There's also a big increase in demand for wheat in India and China. They'll be sorry when they become gluten intolerant too. Wasn't rice good enough for them?
damn...can't even make fun of flyover country anymore. they're booming while the coasts crash!
Whoever said Saudi Arabia was growing wheat is incorrect. They stopped doing that see this article here as proof http://tinyurl.com/388lte
A smaller but related factor in reduced US food output: some of our most fertile soil now sits underneath miles upon square miles of housing tracts.
Now that I'm in the Midwest I get ringside seats to watch perfectly good farmland plowed under to make way for houses nobody wants anymore.
That, and most rural Americans are now meth-addled dipshits, incapable of growing anything but debt.
For a very long time in this country, food was incredibly cheap except for the poorest of the poor. The vast majority of the population who live in cities and suburbs spent what amounted to the lowest percentage of their incomes on this planet buying what is the prime necessity of life. Now commodities are approaching a fair and equitable price for the farmers who produce them, and the rage is building about the unfairness of the new situation. And there is a misplaced blaming of higher prices upon alternative fuels such as ethanol and biodiesel which ingnores the chief engine of change, which is the creation of a vast middle class in countries such as India and China who can consume food on the same scale as is common in the US, most of Europe and Japan.
VeggieHeaven said...
"Visualize local neighborhood gardens...it's a good thing and will soon be needed and wanted."
true, my friend here in Los Angeles and I went to visit a friend outside of Palmdale CA most people there have goats, cows and chickens. we trade them Pomegranates and avocados he grows in his house for cheese, eggs, milk and beef.
the Mexican ranchers there give you more stuff for Pomegranates since they are used for a sort of
"drink punch" with alcohol.
it was strange to trade food instead of paying money for it, but it was kinda cool. if that's the case that in the short future we'll see more trading, I think we'll be ok.
The next trend will be crops growing vertically, in round tower buildings and within the urban area. There's no transportation costs and small CO2 footprint. The market is around the towers. Many projects like are underway.
Jim Rogers keeps telling peoples kids to be farmers and go into agriculture. It may be too late for me on Wall Street, but he has a solid point
Post a Comment