Thanks to the Federal Reserve, the middle class is slowly being suffocated by rising food prices. Every single dollar in your wallet is constantly becoming less valuable because of the inflation the Fed systematically creates. And if you try to build wealth by saving money and earning interest on it, you still lose because thanks to the Federal Reserve’s near zero interest rate policies banks pay next to nothing on savings accounts. The Federal Reserve wants you to either spend your money or to put it in the giant casino that we call the stock market. But when Americans spend their paychecks they are finding that they don’t stretch as far as they once did. The cost of living continues to rise at a much faster pace than wages are rising, and this is especially true when it comes to the price of food.
Someone that I know wrote to me today and let me know that she had to shut down the food pantry that she had been running for the poor for so many years. It isn’t that she didn’t want to help the poor anymore. It was that she just couldn’t deal with the rising food prices any longer. Now she is just doing the best that she can to survive herself.
Perhaps you have also noticed that food prices have gotten pretty crazy lately. In particular, meat prices have become absolutely obscene. For example, the average price of ground beef has risen to a new record high of over $4.09 a pound. Over the past twelve months, that works out to a whopping 17 percent increase…
Across the political and media elite in Australia, a silence has descended on the memory of the great, reforming prime minister Gough Whitlam, who has died. His achievements are recognised, if grudgingly, his mistakes noted in false sorrow. But a critical reason for his extraordinary political demise will, they hope, be buried with him.
Australia briefly became an independent state during the Whitlam years, 1972-75. An American commentator wrote that no country had “reversed its posture in international affairs so totally without going through a domestic revolution”. Whitlam ended his nation’s colonial servility. He abolished Royal patronage, moved Australia towards the Non-Aligned Movement, supported “zones of peace” and opposed nuclear weapons testing.
Although not regarded as on the left of the Labor Party, Whitlam was a maverick social democrat of principle, pride and propriety. He believed that a foreign power should not control his country’s resources and dictate its economic and foreign policies. He proposed to “buy back the farm”. In drafting the first Aboriginal lands rights legislation, his government raised the ghost of the greatest land grab in human history, Britain’s colonisation of Australia, and the question of who owned the island-continent’s vast natural wealth…
Opium poppy cultivation in Afghanistan has hit an all-time high despite years of counter-narcotics efforts that have cost the US $7.6bn (£4.7bn), according to a US government watchdog.
The UN Office on Drugs and Crime reported that Afghan farmers grew an “unprecedented” 209,000 hectares (523,000 acres) of opium poppy in 2013, surpassing the previous high of 193,000 hectares in 2007, said John Sopko, the special inspector general for Afghanistan reconstruction.
“In past years, surges in opium poppy cultivation have been met by a coordinated response from the US government and coalition partners, which has led to a temporary decline in levels of opium production,” Sopko said in a letter to the secretary of state, John Kerry, the defence secretary, Chuck Hagel, and other top US officials.
“The recent record-high level of poppy cultivation calls into question the long-term effectiveness and sustainability of those prior efforts,” he said on Tuesday…