They havent destroyed anything. They just transferred it to China.
Walmart ceo prepare for "serious" inflation
- Thread starter Free Thinker
- Start date
They havent destroyed anything. They just transferred it to China.
This is incorrect. Chinese purchases from Venezuela are but one example.
Quite apart from that, OPEC accounts for less than half of all petroleum sales.
You keep quiet .
.In three posts you went from "all" to 40%. Give me a shout when you make up your mind.
Or not, its all the same to me.
Food prices increase when oil increases because a good part of the cost is due to processing and transportation, the cost of which depends on oil prices.
Most of the increase you have seen in the last 10 years in food prices is purely due to an exponentially growing world population. The inhabitants of underdeveloped nations see great joy in producing many kids who in turn end up trying to go through nation borders illegally in some part of the developed world with the intention of extracting wealth, either through hard work, or illegally, and sending it back home to feed the ever growing population which finds a lot of joy in reproducing constantly like rabbits do.
This is a serious problem and I do not see a stop to it other than a global war because the growing population in underdeveloped countries will constantly push inflation up in developed countries. Check the birth rates. It is stunning to see where most of the reproduction of humans takes place:
http://en.wikipedia.org/wiki/List_of_sovereign_states_and_dependent_territories_by_birth_rate
"The most important video you will ever see":
http://www.youtube.com/watch?v=F-QA2rkpBSY
Most of the increase you have seen in the last 10 years in food prices is purely due to an exponentially growing world population. The inhabitants of underdeveloped nations see great joy in producing many kids who in turn end up trying to go through nation borders illegally in some part of the developed world with the intention of extracting wealth, either through hard work, or illegally, and sending it back home to feed the ever growing population which finds a lot of joy in reproducing constantly like rabbits do.
This is a serious problem and I do not see a stop to it other than a global war because the growing population in underdeveloped countries will constantly push inflation up in developed countries. Check the birth rates. It is stunning to see where most of the reproduction of humans takes place:
http://en.wikipedia.org/wiki/List_of_sovereign_states_and_dependent_territories_by_birth_rate
"The most important video you will ever see":
http://www.youtube.com/watch?v=F-QA2rkpBSY
Lets not forget in the United States:
Americans constitute 5% of the world's population but consume 24% of the world's energy.
On average, one American consumes as much energy as
2 Japanese
6 Mexicans
13 Chinese
31 Indians
128 Bangladeshis
307 Tanzanians
370 Ethiopians
The population is projected to increase by nearly 130 million people - the equivalent of adding another four states the size of California - by the year 2050.
Forty percent of births are unintended.
Americans eat 815 billion calories of food each day - that's roughly 200 billion more than needed - enough to feed 80 million people.
Americans throw out 200,000 tons of edible food daily.
The average American generates 52 tons of garbage by age 75.
The average individual daily consumption of water is 159 gallons, while more than half the world's population lives on 25 gallons.
Eighty percent of the corn grown and 95% of the oats are fed to livestock.
Fifty-six percent of available farmland is used for beef production.
one of the largest amount of food 'wastage' that occurs - One-third of the world's fish catch and more than one-third of the world's total grain output is fed to livestock.
4lb of fish is required to produce 1lb of salmon,
A cow has to eat 7 lbs of grain and soy bean protein to produce 1 lb of meat protein. If the same land were to produce food for humans directly, 7 times more people could eat.
Americans constitute 5% of the world's population but consume 24% of the world's energy.
On average, one American consumes as much energy as
2 Japanese
6 Mexicans
13 Chinese
31 Indians
128 Bangladeshis
307 Tanzanians
370 Ethiopians
The population is projected to increase by nearly 130 million people - the equivalent of adding another four states the size of California - by the year 2050.
Forty percent of births are unintended.
Americans eat 815 billion calories of food each day - that's roughly 200 billion more than needed - enough to feed 80 million people.
Americans throw out 200,000 tons of edible food daily.
The average American generates 52 tons of garbage by age 75.
The average individual daily consumption of water is 159 gallons, while more than half the world's population lives on 25 gallons.
Eighty percent of the corn grown and 95% of the oats are fed to livestock.
Fifty-six percent of available farmland is used for beef production.
one of the largest amount of food 'wastage' that occurs - One-third of the world's fish catch and more than one-third of the world's total grain output is fed to livestock.
4lb of fish is required to produce 1lb of salmon,
A cow has to eat 7 lbs of grain and soy bean protein to produce 1 lb of meat protein. If the same land were to produce food for humans directly, 7 times more people could eat.
More accurately, you first claimed all oil transactions had to be closed in USD, which is untrue. You then backtracked the claim to only OPEC countries requiring transactions be closed in USD, which is also untrue. You have now backtracked again, this time to a position of considerable incoherence involving rants about the Fed.
When you finally have these things sorted in your own mind, let me know. Until then it is impossible to have a meaningful conversation.
Cheers.
Since we are on Elitetrade and not on the Yahoo message boards, why not add some depth to this discussion?
Do I believe that the Fed is casing inflation in commodities? Absolutely. But it's also true that this year we've had some terrible droughts in parts of the world and there is a general tendency for the emerging middle classes of the world to consume more meat, which requires a lot more food to be produced.
Where were wheat prices 10 years ago? Corn prices? I believe we've had triple digit inflation in most commodities. You could price them all in terms of gold, and they would still show price appreciation. Both of those theme are true.
Do I believe that the Fed is casing inflation in commodities? Absolutely. But it's also true that this year we've had some terrible droughts in parts of the world and there is a general tendency for the emerging middle classes of the world to consume more meat, which requires a lot more food to be produced.
Where were wheat prices 10 years ago? Corn prices? I believe we've had triple digit inflation in most commodities. You could price them all in terms of gold, and they would still show price appreciation. Both of those theme are true.
I have offered my opinion on the Fed numerous times.
The bigger question is what does my opinion of the Fed have to do with your misstatements? If you can't get the basic facts right, there is no ground for discussion.