There will be a pole shift and the earth changes that precede the pole shift will bring huge changes & destruction and the sun has been predicted to rise in the west.
Also some scientists are expecting this to happen:
* * *
There will be a pole shift and the earth changes that precede the pole shift will bring huge changes & destruction and the sun has been predicted to rise in the west.
Also some scientists are expecting this to happen:
* * *
– World Bank warns of food riots as rising food prices push world populations toward revolt (Natural News, May 30, 2014):
A new report issued by the World Bank (1) warns that food prices are skyrocketing globally, with wheat up 18 percent and corn up 12 percent this quarter. Ukraine, one of the largest wheat exporters in the world, has suffered a 73 percent increase in domestic wheat costs. Argentina has seen wheat prices skyrocket 70 percent.
According to the World Bank, these price increases have been caused primarily by three factors: 1) Sharply higher demand for food in China, 2) U.S. drought conditions that hammered wheat production, and 3) unrest in Ukraine due to the near state of war with Russia.
Rising food prices lead to food riots
According to the World Bank, rising food prices have caused 51 food riots in 37 countries since 2007. These include Tunisia, South Africa, Cameroon and India, among other nations.
YouTube Added: 29.10.2013
Food stamp recipients face a massive benefit cut set to kick in when stimulus funds expire Friday.
The nationwide cut “is equivalent to about 16 meals a month for a family of three,” according to a Center on Budget and Policy Priorities analysis using the USDA’s “Thrifty Food Plan.” CBPP called the roughly $5 billion annual cut to the Supplemental Nutrition Assistance Program “unprecedented” in “depth and breadth.”
“If you look across the world, riots always begin typically the same way: when people cannot afford to eat food,” Margarette Purvis, the president and CEO of the Food Bank for New York City, told Salon Monday.
Purvis said that the looming cut would mean about 76 million meals “that will no longer be on the plates of the poorest families” in NYC alone — a figure that outstrips the total number of meals distributed each year by the Food Bank for New York City, the largest food bank in the country. “There will be an immediate impact,” she said.
– “Riots always begin typically the same way”: Food stamp shutdown looms Friday (Salon, Oct 28, 2013):
The head of the largest food bank says the $5 billion annual cut will take a week of meals off millions’ plates
Some prominent conservatives have questioned the significance of public assistance cuts for the poor. Weekly Standard Editor Bill Kistol contended during the government shutdown that “it’s not going to be the end of the world, honestly, even if you’re on nutritional assistance from the federal government. The state of Arkansas can help out, localities can help out, churches can help out, I believe no one is going to starve in Arkansas because of the shutdown.” Asked about such claims, Purvis said that citing the efforts of groups like hers as a reason not to worry about public assistance cuts was “one of the most ill-informed arguments on the planet.” She told Salon, “the first line of defense against hunger is a food stamp.” While some “have had this way of romanticizing charity,” she said, “charity is also a system that is based on capacity and resources.” Purvis added that politicians “didn’t make any additional resources available to these magical charities that they expect to step in for this devastation that’s geared at the poorest of Americans.”
YouTube Added: 23.10.2013
FOOD RIOTS to come to U.S. in NOVEMBER as FOOD STAMPS / EBT is CUT to 47 MILLION Americans
The USDA is directing states to withhold Electronic Transfer Benefits for the month of November until further notice, setting up a potential food stamp crisis that could very easily lead to riots and widespread looting if the government shutdown drags on.
The USDA, which oversees the Supplemental Nutritional Assistance Program (SNAP), issued the order in a letter to SNAP administrators which states, “Understanding the operational issues and constraints that States face, and in the interest of preserving maximum flexibility, we are directing States to hold their November issuance files and delay transmission to State electronic benefit transfer (EBT) vendors until further notice.”
The dry riverbed of the Loire near the Anjou-Bretagne bridge in Ancenis, western France. Photograph: Stephane Mahe/REUTERS
Food prices are expected to hit new highs in the coming weeks, tightening the squeeze on UK households and potentially triggering further unrest in developing countries unless there is heavy rainfall across drought-affected Europe, the United Nations has warned.
The average global price of cereals jumped by 71% to a new record in the year to April, more than three times higher than a decade ago, according to latest UN figures, prompting its Food and Agriculture Organisation to warn that Europe faces a pivotal few weeks.
With the dry spell forecast to continue for several weeks across Europe, Abdolreza Abbassian, senior grains economist at the FAO, said: “Europe is entering a very critical month. We can’t do without rain any more. If the current situation continues prices will respond very aggressively.”
“Our fear is that we still haven’t seen the worst of food inflation in vulnerable countries and that could be coming. One way or another, rising food prices bring hardship on their people and you can’t rule out the possibility of further food riots. A lot depends on the next few weeks and it’s impossible to predict how Mother Nature will behave,” Abbassian added.
A SENIOR economist at the worldwide bank HSBC has warned of civil unrest in Britain if food prices continue to soar, Sky News reported yesterday.
Karen Ward cautioned that the UK was not immune to the kind of “food riots” seen in other countries around the world.
“Even in the developed world I think we have very, very low wage growth, so people aren’t getting more in their pay packet to compensate them for food and energy, and I think we could see social unrest certainly in parts of the developed world and the UK as well,” she told Sky News.
The cost of flour and salad oil has doubled in recent months, reaching record highs. A kilogram of sugar, which a few months ago cost 70 dinars, is now 150 dinars (£1.28). Unemployment stands at about 10% percent, the government says; independent organisations put it closer to 25%.
The Fed chairman is 100% confident inflation can be contained. Rapidly spreading rioting (5 countries so far) would take the under on that.
Latest on Tunisia:
Twelve people were killed in overnight clashes in the Tunisian capital Tunis and the northeastern town of Ras Jebel, according to accounts from two medical sources and a witness on Friday.
Ten of the victims were killed after clashes in the capital, two sources from Charles Nicolle hospital told Reuters.
A witness from Ras Jebel, who identified herself as Narjes, said: “I saw two dead people with my own eyes after police fired at youth”.
Tunisian officials could not immediately be reached for a comment. It was not immediately clear whether the shootings took place before or after the country’s president ordered police to stop using lethal force against demonstrators.
And now the violence has spread to Jordan:
Food price protests sweeping across North Africa and the Middle East reached Jordan on Friday, when hundreds of protesters chanted slogans against Prime Minister Samir al-Rifai in the southern city of Karak.
The peaceful protest was held despite hastily announced government measures to curb commodity and fuel prices. Similar demonstrations were held in three other towns and cities across the country, witnesses said.
“We are protesting the policies of the government — high prices and repeated taxation that made the Jordanian people revolt,” Tawfiq al-Batoush, a former head of Karak municipality, told Reuters at the protest outside Karak’s Al Omari mosque.
Three days ago, after riots in Algeria and Tunisia over high prices, unemployment and falling living standards, Jordan announced a $225 million package of cuts in the prices of some types of fuel and of staple products including sugar and rice.
Other Arab countries have taken similar steps. Libya abolished taxes and customs duties on food products and Morocco offered compensation to importers of soft milling wheat to keep supplies stable after a surge in grain prices.
…Morocco (google translated)
Protests against price rises and unemployment moved from Tunisia to Morocco, where the streets of Rabat, yesterday, saw clashes between young protesters and police forces, which tried to prevent them from organizing a demonstration outside the Moroccan parliament, in protest against unemployment and high prices and the cost of living in Morocco
In Yemen, Yemeni President Ali Abdullah Saleh fired Minister of Oil and Chief Executive, the Yemen Petroleum Company Omar Arhabi, yesterday, due to a lack in the supply of petroleum products, not available in the market, which led to bottlenecks in front of gas stations and the creation of indignation among the citizens.
Not like there is much to add here, but we would like to add that if a rising stock market was indiciative of “wealth” then the citizens of Zimbabwe have to be the richest people in the universe.
Activists from India’s main opposition Bharatiya Janata Party (BJP) women’s wing shout slogans against the Congress-led government during a protest against an increase in milk, vegetables and food prices in New Delhi on April 1, 2010. The BJP activists protested against the price hikes of essential commodities. Food inflation is still at 17 percent according to official figures.
Strained by rising demand and battered by bad weather, the global food supply chain is stretched to the limit, sending prices soaring and sparking concerns about a repeat of food riots last seen three years ago.
“We are entering a danger territory,” Abdolreza Abbassian, chief economist at the U.N.’s Food and Agriculture Organization (FAO), said last week.
Police officers arrest protesters during a rally in the neighbourhood of Benfica, in the suburbs of Maputo, Mozambique Photo: EPA
A demonstrator throws a tyre on to a burning barricade during riots in Mozambique’s capital Maputo Photo: REUTERS
The S-TV station says the dead included one child. The station gave few other details. Police could not immediately confirm the report.
Police opened fire Wednesday on stone-throwing crowds who were protesting rising prices in this impoverished country.
Mozambicans have seen the price of a loaf of bread rise by 25 percent, from four to five meticais (from about 11 cents to about 13 U.S. cents) in the past year. Fuel and water prices also have risen.
Protests over high prices erupted into violence in Mozambique in 2008.
Protestors stoned cars and buildings in Mozambique’s capital, Maputo, today during a national strike against plans to raise state-controlled food, water and electricity prices.
Security forces have made arrests and are looking for the people who sent out the original text messages calling for the strike, police spokesman Arnaldo Chefo said in an interview in the city today.
“Our efforts are to stop the strike and we have mobilized all our resources to control it,” he said. “We do not know who is organizing it, but we are trying to identify the strike leaders or organizers.”
The government plans to raise water and electricity rates by 30 percent today and the price of bread by 25 percent on Sept 6.
Fuel and cement prices have also risen. Riots in 2008 against food and fuel price increases left at least three people dead.
If Nostradamus were alive today, he’d have a hard time keeping up with Gerald Celente.
– New York Post
When CNN wants to know about the Top Trends, we ask Gerald Celente.
– CNN Headline News
There’s not a better trend forecaster than Gerald Celente. The man knows what he’s talking about. – CNBC
Those who take their predictions seriously … consider the Trends Research Institute.
– The Wall Street Journal
A network of 25 experts whose range of specialties would rival many university faculties.
– The Economist
Part 1 of 7 (Part 1 is not uploaded on YouTube. All the others are there and a must-see.)
Part 2 of 7
December 18, 2008
Nov. 25 (Bloomberg) — Food prices will rise next year, prompting a revival of protectionism from food-growing nations and risking a renewed bout of rioting, according to Jochen Hitzfeld, an analyst at UniCredit SpA in Munich.
“Agricultural commodities will outperform the broad commodity indices in 2009,” Hitzfeld wrote in a research note this week. “If key crop-producing countries then impose export bans again and speculators drive up prices via physical stockpiling and futures contracts, new food unrest is even conceivable in the second half of 2009.”
The CHART OF THE DAY shows food prices for the past 10 years as measured by an index compiled by UBS AG and Bloomberg that tracks at least 13 foodstuffs, including wheat, soybeans, sugar, cocoa and coffee. The index has declined 35 percent since peaking in July.
“The prices of many agricultural commodities are now clearly below their production costs,” Hitzfeld wrote. “We expect the coming year to bring a cutback in area under cultivation as well as a decline in the yield per hectare.”
In Cité Soleil, one of Port-au-Prince’s worst slums, making the clay-based food is a major income earner. Mud cakes are the only inflation-proof food available to Haiti’s poor. Photograph: David Levene
At first sight the business resembles a thriving pottery. In a dusty courtyard women mould clay and water into hundreds of little platters and lay them out to harden under the Caribbean sun.
The craftsmanship is rough and the finished products are uneven. But customers do not object. This is Cité Soleil, Haiti’s most notorious slum, and these platters are not to hold food. They are food.
Here you will find all Top 25 Things Vanishing From America.
This series explores aspects of America that may soon be just a memory — some to be missed, some gladly left behind. From the least impactful to the most, here are 25 bits of vanishing America.
My mother grew up on her family’s dairy farm in central Oregon, and when she was a child she was in 4-H — just like all the kids in her town. I’ve always admired her way with the “home arts” (she makes a mean jar of cucumber relish, and her embroidery festoons quilts for all my boys) so when I saw her 4-H ribbons I assumed that big purple one must have been for brownies, or jam. “Oh, that was for the pig I raised,” she said matter-of-factly.
– Floods may boost world food prices for years
– Floods wipe out US crops
– The Best Farmland in the U.S. Is Flooded; Most Americans Are Too Stupid to Panic
– The Price Of Food: 2007 – 2008
– The U.S. Has No Remaining Grain Reserves
– Nine meals from anarchy – how Britain is facing a very real food crisis
– Time to Stockpile Food?
– Food Riots are Coming to the U.S.
– UN alert: One-fourth of world’s wheat at risk from new fungus
– THE FOUR HORSEMEN APPROACH – FAMINE IS IN THE AIR
A catastrophe for Iowa farmers will not be just a catastrophe for Midwestern Americans. In the Iowa floods, we’ll see more evidence of how the problems of weird weather (climate change) combine and ramify the problems associated with Peak Oil. In this particular case they lead to an inflection point sometime around the 2008 harvest season, which will also be our time of political harvest.
These are not your daddy’s or granddaddy’s floods. These are 500-year floods, events not seen before non-Indian people started living out on that stretch of the North American prairie. The vast majority of homeowners in Eastern Iowa did not have flood insurance because the likelihood of being affected above the 500-year-line was so miniscule – their insurance agents actually advised them against getting it.
The personal ruin out there will be comprehensive and profound, a wet version of the 1930s Dust Bowl, with families facing total loss and perhaps migrating elsewhere in the nation because they have no home to go back to.
Iowa in 2008 will be an even slower-motion disaster than Hurricane Katrina in 2005. Beyond the troubles of 25,000 people who have lost all their material possessions is a world whose grain reserves stand at record lows. The crop losses in Iowa will aggravate what is already a pretty dire situation. So far, the US public has experienced the world grain situation mainly in higher supermarket prices.
Cheap corn is behind the magic of the American processed food industry – all those pizza pockets and juicy-juice boxes that frantic Americans resort to because they have no time between two jobs and family-chauffeur duties to actually cook (note: reheating is not cooking).
MANILA – Amid the sprawl and stench of this city’s main dump – its air thick with charcoal and fleas – Redentor Escarcha is beaming.
The sinewy 26-year-old, his skin glistening with sweat, is one of thousands who come here every day to mine the Philippines’ capital’s garbage for recyclables: cans, cardboard, copper cables, anything of value.
It’s only 11 a.m. but Escarcha knows that what he has collected in his sack so far is worth more than 200 pesos (about $4.50). Most days this father of four earns about $3.
He knows the precise value of everything here – and he should. Escarcha is a veteran who has worked this dump for 19 years, ever since he was 7 years old.
He was born here.
“I was just lucky,” he says, explaining how he hit upon a treasure trove of high-quality glass this particular morning.
Yes. In Escarcha’s value system, today is another day he’ll be able to feed his family.
To appreciate the impact of increases in the cost of food in the developing world, you have to appreciate the depths of its poverty.
Here in “Smokey Mountain,” as this dump is known, poverty runs about as deep as it can get.
An estimated 15,000 to 20,000 people live on the margins of the landfill.
We bring to the attention of our readers David DeBatto’s scenario as to what might occur if one of the several contingency plans to attack Iran, with the participation of Israel and NATO, were to be carried out. While one may disagree with certain elements of detail of the author’s text, the thrust of this analysis must be taken seriously.
By David DeBatto
David DeBatto is a former U.S. Army Counterintelligence Special Agent, Iraqi war veteran and co-author the “CI” series from Warner Books and the upcoming “Counter to Intelligence” from Praeger Security International.
“Israel has said a strike on Iran will be “unavoidable” if the Islamic regime continues to press ahead with alleged plans for building an atom-bomb.” (London Daily Telegraph, 6/11/2008)
“Chancellor Angela Merkel of Germany joined President Bush on Wednesday in calling for further sanctions against Iran if it does not suspend its uranium enrichment program.” Mr. Bush stressed again that “all options are on the table,” which would include military force. (New York Times, 6/11/2008)
We are fast approaching the final six months of the Bush administration. The quagmire in Iraq is in its sixth painful year with no real end in sight and the forgotten war in Afghanistan is well into its seventh year. The “dead enders” and other armed factions are still alive and well in Iraq and the Taliban in Afghanistan again controls most of that country. Gas prices have now reached an average of $4.00 a gallon nationally and several analysts predict the price will rise to $5.00-$6.00 dollars per gallon at the pump by Labor Day. This, despite assurances by some major supporters of the decision to invade Iraq that the Iraq war “will pay for itself” (Paul Wolfowitz) or that we will see “$20.00 per barrel” oil prices if we invade Iraq (Rupert Murdoch).
One thing the Pentagon routinely does (and does very well) is conduct war games. Top brass there are constantly developing strategies for conducting any number of theoretical missions based on real or perceived threats to our national security or vital interests. This was also done prior to the invasion of Iraq, but the Bush administration chose not to listen to the dire warnings about that mission given to him by Pentagon leaders, or for that matter, by his own senior intelligence officials. Nevertheless, war gaming is in full swing again right now with the bullseye just to the right of our current mess – Iran.
It’s no secret that the U.S. is currently putting the finishing touches on several contingency plans for attacking Iranian nuclear and military facilities. With our ground forces stretched to the breaking point in Iraq and Afghanistan, none of the most likely scenarios involve a ground invasion. Not that this administration wouldn’t prefer to march into the seat of Shiite Islam behind a solid, moving line of M1 Abrams tanks and proclaim the country for democracy. The fact is that even the President knows we can’t pull that off any more so he and the neo-cons will have to settle for Shock and Awe Lite.
If we invade Iran this year it will be done using hundreds of sorties by carrier based aircraft already stationed in the Persian Gulf and from land based aircraft located in Iraq and Qatar. They will strike the known nuclear facilities located in and around Tehran and the rest of the country as well as bases containing major units of the Iranian military, anti-aircraft installations and units of the Revolutionary Guard (a separate and potent Iranian para-military organization).
Will this military action stop Iran’s efforts to develop nuclear weapons? Probably not. It will probably not even destroy all of their nuclear research facilities, the most sensitive of which are known to be underground, protected by tons of earth and reinforced concrete and steel designed to survive almost all attacks using conventional munitions. The Iranian military and Revolutionary Guard will most likely survive as well, although they will suffer significant casualties and major bases and command centers will undoubtedly be destroyed. However, since Iran has both a functioning Air Force, Navy (including submarines) and modern anti-aircraft capabilities, U.S. fighter-bombers will suffer casualties as well. This will not be a “Cake Walk” as with the U.S. led invasion of Iraq in 2003 when the Iraqi Army simply melted away and the Iraqi Air Force never even launched a single aircraft.
Not even close.
If the United States attacks Iran either this summer or this fall, the American people had better be prepared for a shock that may perhaps be even greater to the national psyche (and economy) than 9/11. First of all, there will be significant U.S. casualties in the initial invasion. American jets will be shot down and the American pilots who are not killed will be taken prisoner – including female pilots. Iranian Yakhonts 26, Sunburn 22 and Exocet missiles will seek out and strike U.S. naval battle groups bottled up in the narrow waters of the Persian Gulf with very deadly results. American sailors will be killed and U.S. ships will be badly damaged and perhaps sunk. We may even witness the first attack on an American Aircraft carrier since World War II.
That’s just the opening act.
Israel (who had thus far stayed out of the fray by letting the U.S. military do the heavy lifting) is attacked by Hezbollah in a coordinated and large scale effort. Widespread and grisly casualties effectively paralyze the nation, a notion once thought impossible. Iran’s newest ally in the region, Syria, then unleashes a barrage of over 200 Scud B, C and D missiles at Israel, each armed with VX gas. Since all of Israel is within range of these Russian built weapons, Haifa, Tel Aviv, Jerusalem and virtually all major civilian centers and several military bases are struck, often with a result of massive casualties.
The Israeli Air Force orders all three squadrons of their F-16I Sufa fighter/bombers into the air with orders to bomb Tehran and as many military and nuclear bases as they can before they are either shot down or run out of fuel. It is a one way trip for some of these pilots. Their ancient homeland lies in ruins. Many have family that is already dead or dying. They do not wait for permission from Washington, DC or U.S. regional military commanders. The Israeli aircraft are carrying the majority of their country’s nuclear arsenal under their wings.
Just after the first waves of U.S. bombers cross into Iranian airspace, the Iranian Navy, using shore based missiles and small, fast attack craft sinks several oil tankers in the Straits of Hormuz, sealing off the Persian Gulf and all its oil from the rest of the world. They then mine the area, making it difficult and even deadly for American minesweepers to clear the straits. Whatever is left of the Iranian Navy and Air Force harasses our Navy as it attempts minesweeping operations. More U.S casualties.
The day after the invasion Wall Street (and to a lesser extent, Tokyo, London and Frankfurt) acts as it always does in an international crisis – irrational speculative and spot buying reaches fever pitch and sends the cost of oil skyrocketing. In the immediate aftermath of the U.S. invasion of Iran, the price of oil goes to $200.00 – $300.00 dollars a barrel on the open market. If the war is not resolved in a few weeks, that price could rise even higher. This will send the price of gasoline at the pump in this country to $8.00-$10.00 per gallon immediately and subsequently to even higher unthinkable levels.
If that happens, this country shuts down. Most Americans are not be able to afford gas to go to work. Truckers pull their big rigs to the side of the road and simply walk away. Food, medicine and other critical products are not be brought to stores. Gas and electricity (what is left of the short supply) are too expensive for most people to afford. Children, the sick and elderly die from lack of air-conditioned homes and hospitals in the summer. Children, the sick and elderly die in the winter for lack of heat. There are food riots across the country. A barter system takes the place of currency and credit as the economy dissolves and banks close or limit withdrawals. Civil unrest builds.
The police are unable to contain the violence and are themselves victims of the same crisis as the rest of the population. Civilian rule dissolves and Martial Law is declared under provisions approved under the Patriot Act. Regular U.S. Army and Marine troops patrol the streets. The federal government apparatus is moved to an unknown but secure location. The United States descends into chaos and becomes a third world country. Its time as the lone superpower is over.
It doesn’t get any worse than this.
Then the first Israeli bomber drops its nuclear payload on Tehran.
Source: Global Research
A child carries a tray of bread in Cairo. Photograph: Nasser Nuri/Reuters
World leaders are to meet next week for urgent talks aimed at preventing tens of millions of the world’s poor dying of hunger as a result of soaring food prices.
The summit in Rome is expected to pledge immediate aid to poor countries threatened by malnutrition as well as charting longer-term strategies for improving food production.
Hosted by the UN’s Food and Agriculture Organisation, it will hear calls for the establishment of a global food fund, as well as for new international guidelines on the cultivation of biofuels, which some have blamed for diverting land, crops and other resources away from food production.
The urgency of the meeting follows historic spikes in the price of some staple foods. The price of rice has doubled since January this year, while the cost of dairy products, soya beans, wheat and sugar have also seen large increases.
The world’s urban poor have been hit hardest, sending a wave of unrest and instability around the world. Thirty-seven countries have been hit by food riots so far this year, including Cameroon, Niger, Egypt and Haiti.
The Rome summit is the first of a series of high-level meetings aimed at tackling what many leaders now see as a much bigger threat to international stability than terrorism.
A fortnight after the UN meeting, the EU council will focus much of its time on the food crisis. A ministerial meeting of the World Trade Organisation in late June will make a last-ditch attempt in Geneva at agreeing the lowering of international trade barriers, with the aim of cutting food prices and making it easier for farmers in poor countries to export their produce.
Food and climate change will also be the twin top themes of the G8 summit in Japan in early July, and then in September a UN summit will attempt to put the world back on course towards meeting the millennium development goals, agreed eight years ago, one of which was the halving of the number of the world’s hungry.
Riots, protests and political unrest could multiply in the developing world as soaring inflation widens the gap between the “haves” and the “have nots”, an investment bank predicted yesterday.
Economists at Merrill Lynch view inflation as an “accident waiting to happen”. As prices for food and commodities surge, the bank expects global inflation to rise from 3.5% to 4.9% this year. In emerging markets, the average rate is to be 7.3%.
The cost of food and fuel has already been cited as a factor leading to violence in Haiti, protests by Argentinian farmers and riots in sub-Saharan Africa, including attacks on immigrants in South African townships.
Merrill’s chief international economist, Alex Patelis, said this could be the tip of the iceberg, warning of more trouble “between nations and within nations” as people struggle to pay for everyday goods. “Inflation has distributional effects. If everyone’s income moved by the same rate, you wouldn’t care – but it doesn’t,” said Patelis. “You have pensioners on fixed pensions. Some people produce rice that triples in price, while others consume it.”
A report by Merrill urges governments to crack down on inflation, describing the phenomenon as the primary driver of macroeconomic trends. The problem has emerged from poor food harvests, sluggish supplies of energy and soaring demand in rapidly industrialising countries such as China, where wage inflation has reached 18%.
Unless policymakers take action to dampen prices and wages, Merrill says sudden shortages could become more frequent. The bank cited power cuts in South Africa and a run on rice in Californian supermarkets as recent examples.
“You’re going to see tension between nations and within nations,” said Patelis.
The UN recently set up a taskforce to examine food shortages and price rises. It has expressed alarm that its world food programme is struggling to pay for food for those most at need.
Last month, the World Bank’s president, Robert Zoellick, suggested that 33 countries could erupt in social unrest following a rise of as much as 80% in food prices over three years.
Merrill’s report said the credit crunch has contributed to a global re-balancing, drawing to a close an era in which American consumers have been the primary drivers of the world’s economy.
In a gloomy set of forecasts, Merrill said it believes the US is in a recession – and that American house prices, which are among the root causes of the downturn, could fall by 15% over the next 18 months.