Violence Over Surging Food Prices In Algeria Spreads As Rioting Leaves Many Dead In Neighboring Tunisia
by Tyler Durden
A week ago we noted that the first Fed ‘excess liquidity’ inspired violence of the year broke out in Algeria, where following the recent release of FAO data confirming food prices have just hit an all time high, rioting broke out “over rising food prices and chronic unemployment… with youths torching government buildings and shouting “Bring us Sugar!” To be expected, this event received no coverage in the US. In the meantime, the violence has escalated and spread to neighboring Tunisia, where weeks of clashes have left 14 dead. The reason for the lethal violence- “high unemployment and the surging cost of living.” One would think that excess economic slack from pervasive unemployment would bring about a plunge in the cost of living… Unfortunately, that is not the case in a centrally planned world.
Al Jazeera summarizes the tragic developments in the following report: