Food crisis in 2010?
Wednesday, December 23, 2009
If you read any economic, financial, or political analysis for 2010 that does not mention the looming food shortage next year, throw it in the trash, as it is worthless. There is overwhelming, undeniable evidence that the world will run out of food next year. When this happens, the resulting triple-digit food inflation will lead panicking central banks around the world to dump their foreign reserves to appreciate their currencies and lower the cost of food imports, causing the collapse of the dollar, the treasury market, derivative markets, and The global financial system. The U.S. will experience economic disintegration.
The 2010 Food Crisis Means Financial Armageddon
Over the last two years, the world has faced a series of unprecedented financial crises: the collapse of the housing market, the freezing of the credit markets, the failure of Wall Street brokerage firms (Bear Stearns / Lehman Brothers), the Failure of Freddie Mac and Fannie Mae, the failure of AIG, Iceland's economic collapse, the bankruptcy of the major auto manufacturers (General Motors, Ford, and Chrysler), etc ... In the face of all these challenges, the demise of the dollar, derivative markets, and the modern international system of credit has been repeatedly forecasted and feared. However, all these doomsday scenarios have so far been proved false, and, despite tremendous chaos and losses, the global financial system has held together.
The 2010 Food Crisis is different. It is THE CRISIS. The one that makes all doomsday scenarios come true. The government bailout and central bank interventions, which have held together the financial world during the last two years, will be powerless to prevent the 2010 Food Crisis from bringing the global financial system to its knees.
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