The End of an Era?

Back in April, I spent some time in Barbados. When you're out of the country, you get a chance to tap into news broadcasts (as opposed to Internet Websites) that you don't normally hear and see. It was then that I first heard about a looming worldwide shortage of food. I wrote about it on this blog upon my return. Of course, little was said about it at the time, but by mid-May, food prices here in the States had begun to rise rapidly.

Quiet as it's kept, the cost of food continues to go up. In fact, recently a Wall St. Journal investment writer advised people to start stocking up on food. The reason? Global food prices are about to take off again. We here in the US often think we're insulated from what goes on in the rest of the world. Insulated, that is, until reality slaps us in the face.

Reality, in this case, comes in the form of China, India, and other rapidly industrialized nations like Brazil. As their standard of living rises, so does the demand for food, and just as importantly, oil. That's why some experts are warning Americans not to get too complacent about the recent drop in gas prices at the pump. Unless these developing societies collapse, their demand for food and oil won't go away.

That means higher prices worldwide, including right here in the good old USA. Should you start loading up on basic necessities, like many of us did just before Y2K? Probably not.

At least, not yet.

** Note.....I detest misspellings, and try my best not to include them in my writing. That's why I must apologize for not spelling the name of the late Isaac Hayes correctly in yesterday's blog entry. Sorry.