Highly entertaining as always from NMA.
Food prices are skyrocketing around the world. The FAO Food Price Index is at a record high. Mother Nature has caused supply shocks in places like Russia and Australia, thus driving up prices. Governments have exacerbated the problem by hoarding and implementing export controls. Meanwhile, Indians and Chinese are driving up global food demand, thanks to their changing diets. And hedge funds are not helping, either. They have artificially driven up prices through speculative trading. Higher food prices have been blamed for causing instability in Egypt and Tunisia. Maybe Thomas Malthus was right. Will the instability spread? Or will science once again find a solution?