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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (83532)	8/20/2008 4:20:28 PM
From: JimisJim	Respond to of 116555

Yes, we're getting a taste of our own medicine we pushed onto the developing world: raging food price inflation... at least for the next 6-9 mos. This is strictly from personal experience and anecdotal, so it is probably very wrong <g>, but it seems to me in the past when we've had things like energy (or something else) drive up grain prices, causing meat producers to thin herds ultimately leading to soaring meat prices in addition to everything else (dairy, fruit, etc.) the effects have been very painful, but the food commodities seem to self correct more quickly than other commodities, IMO... we're already seeing less corn-to-ethanol and that will pick up steam... and making ethanol from corn sometimes means using a lot of ng (ancillary impacts)... so I expect we might see a much different picture in food inflation 12-18 mos. from now even if energy continues to be expensive and volatile.... Jim