In Times Like These, America's Diet Of Processed Foods Is An Economic Miracle
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Don’t worry about rising food costs America, that’s not food you’re eating.
On the index of food costs relative to income; Egypt and Tunisia are high. For this reason, they revolted when Bernanke dropped a money bomb on world markets (to try and force China to revalue) and prices doubled. Low on the list is the USA. Why? American’s food is subsidized three ways: 1) oil is a prime ingredient in food when you add the cost of fertilizer and the US simply invades countries, kills people, and takes their oil to keep the price down. 2) Farm subsidies in the corn patch – a leftover from 1930′s FDR bailouts – are still in play – but applied to the mammoth agri-businesses that have swallowed the industry and turned it into behemoth kleptocratic cornapocalypse. 3) Food is now 60% HFC syrup (High Fructose Corn Syrup). Chicken at KFC for example is mostly made of corn when you consider the chickens eat corn and the product is injected with corn syrup and then deep fried in corn oil. Net, net, when the price of real food goes up, Americans don’t cry so much because only 20% or so of their income goes to food, unlike in other countries where it’s more like 80%. Add to this an observation made by junk food junkie Joe Weisenthal over at BusinessInsider; most of the food America eats is not food at all, but ‘processed food’ made mostly of petroleum derivatives and cardboard. Yes, America can breathe easy – the rocketing food price will not hurt their food stamp allotment – because it’s not food they’re eating.
Feb. 7, 2011