Already Record Food Prices Rise By 3.4% In January

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Thu, 02/03/2011 - 10:13 | 930601 Cognitive Dissonance
Cognitive Dissonance's picture

"Pay no attention to the inflation behind the curtain. I am the mighty Ponzi OZ."

Ben Bernanke practicing in front of the mirror.

Thu, 02/03/2011 - 10:28 | 930662 eigenvalue
eigenvalue's picture

Guess the ultimate fate of the Bernank would be neither a guillotine or an electric chair. He would be eaten alive by hungry citizens..

Thu, 02/03/2011 - 10:59 | 930722 SilverDOG
SilverDOG's picture

As he is only an actor performing for; borrowers from, owners of, and the slaves cowering below, FLS Federal Loan Shark.

Thu, 02/03/2011 - 11:32 | 930806 Cognitive Dissonance
Cognitive Dissonance's picture

Blythe and The Monkeys.

Sounds like an acid rock bank from the 70's. Could you hum a few bars so I can see if it sounds familiar? :>)

Pictured below is the band during the early years. Blythe is on the left.

Thu, 02/03/2011 - 11:35 | 930818 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Too bad she doesn't still wear diapers.  I am sick of her sh*t!

Thu, 02/03/2011 - 11:32 | 930809 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

Today, will PMs form a W, or a checkmark?  They are going up from here no matter.  Silver likes support at $28, the dollar is dead, and Bernanke is typing his resume as we speak...

Dear Lloyd,


Thu, 02/03/2011 - 11:48 | 930893 ColonelCooper
ColonelCooper's picture


Got room on the right side of that page to squeeze in oil? 

Thu, 02/03/2011 - 12:49 | 931164 Clayton Bigsby
Clayton Bigsby's picture

Congress blames "wicked" speculators in... 3... 2... 1....

Thu, 02/03/2011 - 10:13 | 930602 Xibalba
Xibalba's picture

Pakistan will fall next. 

Thu, 02/03/2011 - 10:25 | 930654 Sudden Debt
Sudden Debt's picture

The exiting part is picking the continent which will have the most food riots in 2011.


So at horse track:

Africa is the favorite and is running in front of the rest but Asia is comming out of the curve with lightning speed! America and Europe are picking up speed as well but they are still way behind...

Thu, 02/03/2011 - 10:30 | 930667 oogs66
oogs66's picture

What countries has China purchased the most farmland in?  I can't wait for a food riot in one of those countries so China has a good excuse to send in the troops to protect their food supply.

Thu, 02/03/2011 - 11:07 | 930750 Sudden Debt
Sudden Debt's picture

Ethiopia and Zaire.

Thu, 02/03/2011 - 12:47 | 931156 tmosley
tmosley's picture

Oh shit, the Chinese have time travel?

Fri, 02/04/2011 - 10:18 | 934503 Matt
Matt's picture

I guess that's what they meant about leap-frogging past the west. Now they can go back in time and invent things before the west, putting themselves even further ahead. If you aren't long China, it'll be too late as we will have already passed their boom phase and they will already be going bust.

Thu, 02/03/2011 - 10:54 | 930711 whatsinaname
whatsinaname's picture

If Pakistan falls, India and China will not be far behind. DBA is really skying now..

btw..wonder if there are are some massive derivatives tied to a certain level of the S&P500 which TPTB want to achieve w/o which it would be a disaster. These derivatives may have been written in the cocky and golden times of 1995-2008. BRK already has something similar ?

Thu, 02/03/2011 - 11:04 | 930739 Agent P
Agent P's picture

"Pakistan will fall next."

Scary thought...although I'd wager their military would act a little differently than Egypt's has if it comes to that.

Thu, 02/03/2011 - 12:21 | 931040 hardcleareye
hardcleareye's picture

If Pakistan falls, what happens to it's nukes?  Is there a contingency plan in place?  If I recall those nukes were aimed at India, and India's are aimed at Pakistan.  I haven't read much about the current tension levels between India and Pakistan lately, perhaps it's cooled or is it foreshadowed by other regional events?

Fri, 02/04/2011 - 10:22 | 934521 Matt
Matt's picture

hopefully the situation is being overshadowed, because if other regional events are foreshadowing, that would be bad.

Thu, 02/03/2011 - 10:15 | 930606 ak_khanna
ak_khanna's picture

The primary thing driving up commodity prices worldwide are speculators armed with cheap money provided by central bankers and super fast computers. This is causing a havoc in the lives of rest of the population and pushing them towards poverty as they can no longer afford the basic necessities of life.

Regulators are either hand in glove with the banksters or are too slow to react and take ages to identify and take measures to solve the problems.

Total ban on speculation and the reinforcement of Glass Steagall Act is strictly required to bring relief to the man on the street.

Thu, 02/03/2011 - 10:19 | 930620 the not so migh...
the not so mighty maximiza's picture

I forgot where I saw it, but the British allready told Obama that if he re installs Glass Steagal, it would be considered an act of war against the crown.  

Thu, 02/03/2011 - 10:34 | 930676 equity_momo
equity_momo's picture

Huh? Care to elaborate? 

Thu, 02/03/2011 - 12:15 | 931007 hardcleareye
hardcleareye's picture

A quick google, it is position/opinion of the La Rouche Pac...  don't know how "creditable" or realistic it is....

Thu, 02/03/2011 - 10:32 | 930666 Caviar Emptor
Caviar Emptor's picture

Sorry, that's always the first scape goat every time this happens. And prices have never returned to prior levels no matter what measures are taken to cut 'speculation'. The overwhelming bulk of it is this: Global Competition for Limited Resources. And in some cases declining resources. 

Big economies are getting bigger and more populated. Demand is outstripping supply and production in almost every category across the board. Many key commodities are long past their peak production levels. And outright depletion is beginning to appear in some notable areas. The US imported and spent more than it produced on a grand scale for decades and that put lots and lots of money into the hands of trading partners. And to maintain a neo-colonial empire to make it all happen you need to spread plenty of gravy around. Petro dollars, Euro dollars, China dollars.....there's an ocean of dollars out there and it's starting to be spent instead of saved by developing nations. The days of cheap commodities is OVER

Thu, 02/03/2011 - 10:51 | 930707 Flakmeister
Flakmeister's picture

  Wholeheartedly agree...

 The signs have been there for a while, e.g. decreasing average Cu grades, decreasing average API, increasing Sulfur content etc... It was only a matter of when when we reached the economic inflection point.

Thu, 02/03/2011 - 11:09 | 930751 chumbawamba
chumbawamba's picture


I am Chumbawamba.

Thu, 02/03/2011 - 10:15 | 930607 RobotTrader
RobotTrader's picture

I'm expecting that the central banks will once again assemble some type of  "dollar swap line" that will trigger another Don Coxe "Midnight Massacre" in the CRB Index.

TPTB is going to take action soon to quell the speculation in these food commodities.

Thu, 02/03/2011 - 10:23 | 930641 Flakmeister
Flakmeister's picture

Hey Robo, did you pick up any FRG on its recent pull back? NEM announced a friendly buyout today at $14....

Thu, 02/03/2011 - 10:24 | 930647 Misean
Misean's picture

Well, yeah, someone's going to have to drive the hot money out of these commodities. Still, a good chunk of the price spike is supply related. Not going to be as easy as busting Goldman Sucks 2008 oil bubble...

Thu, 02/03/2011 - 10:37 | 930684 Caviar Emptor
Caviar Emptor's picture

Won't work, can't work. Supply is constrained, demand is rising. And if you lower the price temporarily and marginally with rules you know what will happen?? CHina will scoop up and stockpile on the cheap using all that ocean of dollars they have. And so will all the developing nations with all their dollars. In fact everyone will because that will be a golden opportunity. 

Thu, 02/03/2011 - 11:18 | 930771 chumbawamba
chumbawamba's picture

Start stripping and stockpiling the copper pipe and wire out of all those abandoned over-built homes in the extended suburbs.

Oops, too late, the tweakers beat you to it.  It's all in China already.

I am Chumbawamba.

Thu, 02/03/2011 - 11:45 | 930864 serotonindumptruck
serotonindumptruck's picture

Certainly not a tweaker, but I did obtain salvage rights on an early 20th century school-house a couple years ago. I was amazed at the amount of single gauge copper wiring in the place. Had to wear a good respirator, though. The asbestos weave on that wiring was THICK.

Anyway, not a bad payday for a couple of days worth of labor.

The real Cu salvage prizes are the old transformer coils. I'm talking upwards of 100 pounds of shiny, pristine copper. The downside is disposing of the (poly-chlorinated biphenyls) coolant. An excellent lubricant, but its persistence in the environment makes improper disposal a Federal lock-up offence.

Thu, 02/03/2011 - 12:01 | 930955 chumbawamba
chumbawamba's picture

I once stripped down a largish 3-phase UPS system.  It had two transformers, three coils of copper a piece (for each phase).  The coils on the larger of the two were 70+ pounds each.

Oh yes, that was a nice payday in deed ;)

I predict $10/lbs copper by this summer.

I am Chumbawamba.

Thu, 02/03/2011 - 12:18 | 931022 serotonindumptruck
serotonindumptruck's picture

Don't know why somebody would junk you.

Do I get one, too? Please?

Thu, 02/03/2011 - 14:29 | 931688 Ms. Erable
Ms. Erable's picture

Junked not for content, but because you asked so nicely.

Thu, 02/03/2011 - 10:42 | 930688 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

They do so when they raise the price of the dollar.  Unfortunately PMs follow.  But they are happy to block oil from appreciating...for now.

Thu, 02/03/2011 - 10:44 | 930694 Robot Traders Mom
Robot Traders Mom's picture

Thanks for not posting one of your stupid yahoo finance charts. Also, stick with tech stock analysis. You obviously grew up in the California school system.

Thu, 02/03/2011 - 10:49 | 930703 Mr Lennon Hendrix
Mr Lennon Hendrix's picture

I thought for sure he would have JWN up by now...

Thu, 02/03/2011 - 11:20 | 930778 ClassicalLib17
ClassicalLib17's picture

Hey, you're one good looking mama there. How about we get together for a Dairy Queen Blizzard for dessert. Can't afford the whole meal as I am currently unemployed.

Thu, 02/03/2011 - 11:22 | 930780 chumbawamba
chumbawamba's picture

I grew up in the California school system as well (LAUSD REPRESENT!)

That explains everything.

I am Chumbawamba.

Thu, 02/03/2011 - 12:02 | 930961 hardcleareye
hardcleareye's picture

Good to see your keeping an eye on your boy, we appreciate it.

Thu, 02/03/2011 - 12:32 | 931091 pods
pods's picture

Now what were you doing emailing the Italian MP?


Thu, 02/03/2011 - 10:16 | 930609 mynhair
mynhair's picture

Lol, Ponzi oz.

Thu, 02/03/2011 - 10:16 | 930610 gwar5
gwar5's picture

I''m stocked up. I'll get more from the local Food Lion now that they're in the money losing business.

Thu, 02/03/2011 - 10:31 | 930670 Shocker
Shocker's picture

If they raise the prices, then they shrink the packaging. 90% of the companies that shrink the packaging I no longer buy from. The real losers in this battle are the people that are already struggling, this just beats them down more.

Thu, 02/03/2011 - 10:17 | 930612 Everybodys All ...
Everybodys All American's picture

Can someone just hurl a stone at Berrnanke for me.

Thu, 02/03/2011 - 10:19 | 930624 Dr. Richard Head
Dr. Richard Head's picture

FAO Food Price Index Bitchez!

Thu, 02/03/2011 - 10:20 | 930625 Quinvarius
Quinvarius's picture

On a lizard brain level, I am a big fan of exporting our misery rather than suffering from it.

Thu, 02/03/2011 - 10:35 | 930680 Overflow-admin
Overflow-admin's picture

I guess you were thinking of "reptilian brain level" or "primitive brain level". But is that outrageously real or creeping sarcasm?

Thu, 02/03/2011 - 10:51 | 930706 Quinvarius
Quinvarius's picture

I tried to answer this, but it turned into a long tract of dark self analsis.  I am now smoking a cigar, while sitting on the toilet, and talking to my mom on the phone.

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