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bucheon bum
Joined: 16 Jan 2003
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Posted: Wed Apr 30, 2008 9:51 pm Post subject: A Run on Rice |
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I personally have not noticed a significant increase in food prices here in the States; my grocery bill is no more than it was when I was an undergrad at the beginning of the decade. Regardless, looks like people are freaking out about rice:
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At the Sun Kau Shing grocery, for example, 50-pound bags of long-grain rice were selling for $32 to $38 on Tuesday. That, customers said, was an increase of about 35 percent over a month ago. It was enough to stop amazed pedestrians in their tracks.
�Thirty-three years I�ve been living here, and I�ve never seen the price like that,� said Jimmy Chiu, 56, who hails from Hong Kong and works for the municipal railway here. Mr. Chiu said he had never worried about the price of rice before. �But I�m worried now,� he said. |
Some people are getting a little nutty:
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One Asian-American woman, who insisted that she not be identified because she did not want to be perceived as a hoarder, said she had bought 30 pounds �because of the shortage.�
�We don�t even eat that much rice,� she said. �But I read about it in the newspaper and decided to buy some.� |
Ny Times article |
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Pluto
Joined: 19 Dec 2006
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Posted: Wed Apr 30, 2008 10:38 pm Post subject: |
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The Fed just cut the rate another .25% down to 2%. It seems as though the Fed wishes to continue its high inflation/weak dollar strategy. Expect the price of commodities to go up, including gas and rice. LINK
VIDEO LINK
Edit: It seems as though the interview was with the a former head of monetary analysis from the New York Fed; he largely agrees withe the rate cut. However, as some of you may know, I am aregular readr of the WSJ and their editorial board has been deploring the Fed to move away from this strategy. I've argued that the Fed should have been holding the line since 3% so I've largely concurred. Here is a good rebuttal: The Fed Must Strengthen the Dollar |
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Gamecock

Joined: 26 Nov 2003
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Posted: Thu May 01, 2008 2:03 pm Post subject: |
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Well, there are food shortages around the world...but not in the U.S. It's just ridiculous. More of Americans being conditioned to be constantly afraid. |
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Tjames426
Joined: 06 Aug 2006
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Posted: Fri May 02, 2008 4:29 am Post subject: |
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An American speaks to the World...
the truth is, we are feeding our SUVs with your food. You see. My SUV is more important than your starving baby or grandmother.
It is not because there is a shortage of oil. The US Mainland and Alaska has lots of oil. But you need to understand. The USA cannot be oil independent. The Middle East Muslims depend upon us giving them millions of dollars for their oil.
Hmm....that is right. the Democrats and Republicans in the US Government would rather give millions of US dollars to corrupt Muslim dictators who stifle democracy. Drilling for oil in the US would not cost more, but is it Politically Incorrect.
But making petrol with corn [and other food stuffs] is not politically incorrect. Therefore, in an effort to appear politically correct, it seems the USA lets your children starve and die.
We hope you understand all this and are comforted while you fight for food and watch your children die.
Thank you, The United States of America |
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Pluto
Joined: 19 Dec 2006
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Posted: Fri May 02, 2008 7:48 am Post subject: |
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While I don't agree with the billions of dollars in corporate welfare that go to agriculture companies such as ADM, I think the larger issue is inflation. Inflation is the bigger culprit than corporate subsidies. As for these corporate subsidies concerning ethanol and other agricultural subsidies, the UK, as is the rest of the EU, is far worse than the US. -- Just something to think about when you berate the US and not mention your own country. |
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