'Food, glorious food' conjures up the image of Oliver Twist and his brother orphans wailing over a shortage of porridge in Dickensian England.
Last week, a food shortage became an American reality. Costco Warehouse, Wal-Mart and other food stores limited the purchase of certain food staples in bulk form. Purchases of rice in California and of oil and flour in Queens were restricted. Customers were angry, voicing strong concern and questioning whether the situation would worsen.
Should we be worried? While it may be premature to expect the worst, given the drift of economic events it is worth a moment to consider the possible implications.
Historically, food shortages, even in developed countries, such as England, have sparked riots. In France and Russia, shortages of food led not only to riots but also to insurrection and, ultimately, to political revolution. Traditionally, food based insurrections arrive alongside other political ills, and it is a shortage of food that is often the final straw that breaks the back of social order.
If food scarcity and partial rationing comes on the crest of a rising tide of growing economic inequality and deterioration in America, social upheaval is a real possibility.
While Wall Street paid itself some $26 billion in bonuses last year, ordinary people were being squeezed financially. Some retirees even saw the value of their savings decline substantially.
more
http://www.321gold.com/editorials/browne/browne050108.html
Last week, a food shortage became an American reality. Costco Warehouse, Wal-Mart and other food stores limited the purchase of certain food staples in bulk form. Purchases of rice in California and of oil and flour in Queens were restricted. Customers were angry, voicing strong concern and questioning whether the situation would worsen.
Should we be worried? While it may be premature to expect the worst, given the drift of economic events it is worth a moment to consider the possible implications.
Historically, food shortages, even in developed countries, such as England, have sparked riots. In France and Russia, shortages of food led not only to riots but also to insurrection and, ultimately, to political revolution. Traditionally, food based insurrections arrive alongside other political ills, and it is a shortage of food that is often the final straw that breaks the back of social order.
If food scarcity and partial rationing comes on the crest of a rising tide of growing economic inequality and deterioration in America, social upheaval is a real possibility.
While Wall Street paid itself some $26 billion in bonuses last year, ordinary people were being squeezed financially. Some retirees even saw the value of their savings decline substantially.
more
http://www.321gold.com/editorials/browne/browne050108.html
