Rabobank: Biblical: Lean and Mean


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

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