Shocker!
BRASILIA (Reuters) – Global investment funds and the weak dollar are largely to blame for high world food prices, a senior official of the United Nation’s Food and Agriculture Organization said on Thursday. (snip)
“The crisis is a speculative attack and it will last,” said Jose Graziano, the UN food and farm organization’s regional representative for Latin America and the Caribbean
“The lack of confidence in the (U.S.) dollar has led investment funds to look for higher returns in commodities … first metals and then foods,” Graziano told a news conference in the capital.
I wonder if Graziano has heard about the price of oil going up due to massive demands from countries such as China and India? Not that I am blaming them, countries want to move forward. This causes an increase in the price of food.
Also, I wonder if he has heard of food prices going up because of continued higher use of food stuffs to make alternative fuels?
Na, that couldn’t be it. I’m sure it is Bush’s fault.
Don’t forget how the US is artificially causing the price of corn to rise because of Bush’s mandate on ethanol. Nothing like making your fuel supply also your fuel supply. Hungry? too bad, I need to drive my car.