Author: Berto Jongman
RaboResearch Summary:
- Key feed and food prices have been pulled to 9-month and 7-year highs
- We explore the ‘dream’ of Biblical scarcity; its origins and impacts; and draw comparisons with Joseph, the trader and central planner who avoided starvation for ancient Egypt
- One point is clear: global food insecurity falls heaviest on lower income, importing nations, who spend a far greater share of their income on food than the richer ones
- The Fed would play an ironic role in this process even as it embraces fighting poverty and inequality alongside inflation
- This could exacerbate (geo)political risk – potentially even regarding institutional architecture
See entire pdf HERE
