Economic forecasts suggest huge problems from global food inflation:
Overheating emerging markets, in China in particular, pose the biggest threat to the market and political situation in 2011 according to Philippe Gijsels, head of research at BNP Paribas Fortis Global Markets...."In countries were 70 percent to 80 percent and sometimes more of a family's budget goes to food, explosive price rises risk to destabilize these societies.
What is our government doing? Exacerbating the problem by allowing more ethanol into America's fuel supply. It would be nice to see the Obama administration revisit this decision, but the president has been such a big big booster of ethanol for so long that it's hard even to imagine.