U.S. Food Inflation Running at 22%
California’s abundance of sun and ground water explain the state’s
farming abundance but also explains the cyclical droughts. But those
same cyclical forces are forming an El Niño condition in the equatorial Pacific Ocean that is expected to hammer the Golden State with torrential rain next year.
The real culprit for food inflation is the $940 billion
of additional monetary stimulus from the United States Federal
Reserve’s quantitative easing over the last twelve months. Inflation has
been in hibernation for a long time, but it is wide awake now.
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