I could write many words about the current food price commodity slide and provide many links and charts to show that the price action in those markets over the past year was a massive bubble that is now bursting. Instead I'll just share this segment from CNBC today. The best part is a trader who has been short the market lately and is making a killing on the slide. That starts at about 2:20.
Enjoy.
Thursday, June 30, 2011
Wednesday, June 22, 2011
Bring On Normal
Sniping at Federal Reserve Chairman Ben Bernanke is nothing new, but I predict that the generally flattering treatment he has received from Wall Street and its media acolytes will cease pretty much immediately. As noted today at Forbes.com, at an afternoon presser Bernanke basically said he's clueless as to why flooding the market with free cash made bankers richer, but didn't create jobs for Joe Sixpack.
I don't think that before today the market believed the Fed was really going to withdraw from its unprecedented interference in the economy. But after today's sober assessment from Bernanke and reiteration that Quantitative Easing II is over, beginning tomorrow Wall Street will sound like a cacophony of jilted lovers.
Meanwhile, the price of wheat is in a free fall, with some folks reporting that demand is not there to support anywhere near the current Quantitative Easing II-inflated price. Now where have I heard that before?
I don't think that before today the market believed the Fed was really going to withdraw from its unprecedented interference in the economy. But after today's sober assessment from Bernanke and reiteration that Quantitative Easing II is over, beginning tomorrow Wall Street will sound like a cacophony of jilted lovers.
Meanwhile, the price of wheat is in a free fall, with some folks reporting that demand is not there to support anywhere near the current Quantitative Easing II-inflated price. Now where have I heard that before?
Wednesday, June 15, 2011
Farm Aid 2011
The annual Farm Aid concert and event will take place on August 13 at the brand new LIVESTRONG Sporting Park in Kansas City, MO. The local food movement has strengthened quite a bit in only the last year. Even more significant than the growth in farmers markets and local produce production is the shift in staple food consumption. Late last year whole wheat bread product sales surpassed white bread sales for the first time in history. Dog food is now being advertised as corn and wheat-free.
Farm Aid is obviously about farmers, but it's really about food. The point is to re-connect farmers to folks. That is happening, and Farm Aid has been a big part of the movement. Look for updates here.
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