“…this is my way of indicating that the situation is as serious as it gets. It means that I feel as though everyone reading should consider taking immediate evasive action. All the jawboning about conspiracy, how things could have been, how things should be, etc. are behind us now. You know, EMERGENCY, act fast, eyes wide, nostrils flared, etc.

While the food supply situation has skated along a knife edge so far this year, with higher prices and many countries experiencing food riots, widespread famine did not take hold. In an incredible move, the Japanese quietly eased rice shortages by releasing portions of their imported rice stockpiles—from giant warehouses in Tokyo—into the system; a welcome but one off blip in the big picture. What happens next time? Now, this growing season, when yields need to be at record levels to avert disaster, what do we find? Floods or droughts in several of the breadbaskets of the world.

Whatever your plans are, I hope that you’re ready to execute them (or, better yet, are executing them). I’m pretty sure that most people have done nothing, and I don’t know why this continues to amaze me. The food situation is far off the radar screens of Joe Average. It only becomes a problem after it’s too late to do anything substantive to ameliorate conditions. We’ve already seen food riots, armed escorts for grain deliveries, rationing, sharply higher prices. And still, I’m mostly noticing yawns and drugged gurgles from the herd. Meanwhile, the die is all but cast on this year’s lower crop yields.

If the herd had any idea of what was coming, this show would be over inside of 24 hours. You might be sick of reading this on Cryptogon, but, it’s worth repeating: Use your time wisely.” More

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Posted by markw, filed under Economy, Finance, News. Date: June 21, 2008, 4:12 pm | No Comments »

Auto plants in Spain were paralysed and Portugal’s main airport banned planes from refueling Wednesday as a third day of strikes by thousands of truckers caused heightened chaos and shortages. Truckers in Thailand also threatened to strike next week while their counterparts in South Korea plan to stop work on Friday, as the outrage over soaring fuel prices intensified around the world.

Tens of thousands of truck drivers launched stoppages in France, Portugal and Spain on Monday to demand government help to cope with the rising price of fuel caused by rocketing oil prices, which last week reached almost 140 dollars a barrel. The protests have paralysed roads, causing huge tailbacks, notably on the French-Spanish border and around major Spanish cities, and left supermarkets short of fresh produce and some petrol stations without supplies. Two strikers were run over by vehicles and killed at picket lines on Tuesday. The Spanish auto plants of Seat, Nissan, Renault, PSA Peugeot Citroen and Mercedes Benz said they had cut or halted production as the strike left them short of parts. More

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Posted by markw, filed under Economy. Date: June 11, 2008, 2:12 pm | No Comments »

Spanish drivers and shoppers are stockpiling fuel and food after truck drivers blocked deliveries across the country, as an indefinite protest against the high price of fuel entered a second day. One of the worst affected areas was Barcelona, where 40 per cent of petrol stations have run out of fuel supplies.

Fresh food has also began to run low in some markets, according to reports by the Spanish media. Police motorbike riders escorted fuel tankers to some petrol stations to help break picket lines and prevent attacks, after several strikers slashed lorry tyres on Monday. The indefinite strikes over the impact of high oil prices, now at record highs of over $139 per barrel, have also been backed by protests across the border in Portugal and France. More

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Posted by markw, filed under Economy, News. Date: June 10, 2008, 5:39 pm | No Comments »