On Friday, August 3rd mainstream media performed one of its newly minted rituals, presenting the monthly employment figures provided by the US Bureau of Labor Statistics. Since the financial and economic collapse of 2007 – 2008, these figures are watched closely to discern the relative health of the US economy. Is the economy growing? Is it adding more jobs? Is the unemployment rate declining? Are consumers spending more money?
Since 2006 food prices all over the globe have risen as a result of climate change, major crop losses, ethanol production, and market manipulations. The price increases have caused food riots and other social ills throughout the world.
Food markets in the US have largely been shielded from the global price surge largely due to the tremendous subsidization of agribusiness by the United States government and the international strength of the dollar.