OK, this is the last food post. I swear.
This thing has totally jumped the shark. From a column in the Wall Street Journal:
Load Up the PantrySome points, tongue firmly in cheek:
April 21, 2008 6:47 p.m.
I don't want to alarm anybody, but maybe it's time for Americans to start stockpiling food.
No, this is not a drill.
You've seen the TV footage of food riots in parts of the developing world. Yes, they're a long way away from the U.S. But most foodstuffs operate in a global market. When the cost of wheat soars in Asia, it will do the same here.
Reality: Food prices are already rising here much faster than the returns you are likely to get from keeping your money in a bank or money-market fund. And there are very good reasons to believe prices on the shelves are about to start rising a lot faster.
"Load up the pantry," says Manu Daftary, one of Wall Street's top investors and the manager of the Quaker Strategic Growth mutual fund. "I think prices are going higher. People are too complacent. They think it isn't going to happen here. But I don't know how the food companies can absorb higher costs."
- Food is very cheap! Seriously, if your food budget is rising, maybe you should stop eating out all the time! (I'm looking at you, Elk Grove.)
- Do you really "feel better" eating all that overpriced organic food? Honestly?!
- Variety is the spice of life. If rice prices climb, try beans or bread.
- Food is perishable. How much can you really "stock up" on before it starts to go bad?
- America is fat. I bet if we doubled the price of food, we would save twice that amount in health care costs alone. Quit eating so much!
Here's some perspective, courtesy of the Daily Show: