clipped from instapundit.com
on average Americans spend about 10 percent of their incomes on groceries. Doubling that would bring us back to the good old days of the 1950s when families spent about 20 percent of their incomes on food. Doubled food prices would not mean mass starvation for Americans. However, our biofuels frenzy will not only starve oil despots of cash, but it could end up literally starving millions in poor countries. |
But does it make sense to starve even more poor around the world to death as a side effect of rising corn prices? Let them eat cake apparently. Hold the tortillas.
Oh, wait. Food is a fungible commodity isn't it? So they won't be able to afford the rising wheat prices either...