Price Shocks, Food Shortages And Global Economic Riots In 2011?

Friday, January 14, 2011
By Paul Martin

People need to wake up – 2011 has just begun and yet we are already seeing significant price shocks and serious food shortages in many areas of the globe. In fact, violent economic riots are now being reported in Algeria, in Chile and in Mozambique. Food shortages and price increases are also causing political unrest in other nations such as India, Bangladesh and Indonesia. This is a very serious situation, and if the major food producing nations of the world do not have another record harvest this year there is very likely going to be an incredibly serious global food crunch. According to the UN’s Food and Agricultural Organization, the global price of food hit a new record high in December. The previous record high for food prices was in June 2008, and we all remember what happened during the summer of 2008. Massive food riots erupted in countries such as Cameroon, Haiti and Egypt. So with price shocks and food shortages already being reported all over the globe, will we see even worse global economic riots in 2011?

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