Food prices and chaos

Food prices and chaos

David Sparks Ph.D.
David Sparks Ph.D.
Renowned agricultural economist from the University of Idaho, Dr. Garth TAYLOR, was talking to me about the effects of inflation on the American farmer. He sees that as an existential threat. The danger lies in the cost of food which he does not necessarily think will affect the American consumer but may have far-reaching and devastating international effects.

I'll answer a question for you in the future. It's how is this going to affect food prices in the United States? My story is with that, David, is that what you're seeing is farmers hate the number. It's about $0.05, five pennies. And every loaf of bread that goes to the wheat farmer, they hate that. That's true. So if you double the price of wheat, it goes to $0.10 in a loaf of bread, another nickel in a $2 loaf of bread. That isn't going to hurt the consumers in the United States, where these prices are going to hurt as people in Yemen, Lebanon and Egypt and those countries like that, we're going to have famine, world wide famine catastrophes in those countries. They already are. And it's just going to bring riots, food riots and starvation in the poorest of the poor countries. That's where it's going to hit. Speaker1: David And what does this kind of chaos reap back here at home? Time will tell.

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