The Inflation's In The Poverty

Today’s installment of our series, Best of Daily Reckoning, 2012, is all about food — both about how to make money by selling it and about how to “make money” by giving it away. Here at The Daily Reckoning, we think food is a pretty big deal…and as the Earth’s population explodes, we think it will become an even bigger deal — not just from a socio-economic standpoint, but also from an investment standpoint. In a pinch, the world can do without iPhones and Xboxes. Really, it can. But it can’t do very well without grains, vegetables and fruits.

From National Journal (h/t Ezra Klein): The House Agriculture Committee endorsed a letter this week to Budget Chairman Paul Ryan arguing that the Supplemental Nutrition Assistance Program, which helps low-income Americans purchase food, would make a better target for cuts than automatic subsidies to farms. The move comes as food prices are rising -- the Department o

Gold and Silver at up dramatically in the last year. Food prices are up dramatically. The World Bank Development Prospects Group shows food price changes Q1 2010 to Q1 2011

The Congressional Budget Office came out with a set of charts detailing the status and future of mean-tested government programs.  A means-tested program is one that incorporates the income of an applicant prior to approving or calculating benefits. Unlike Social Security — which every citizen is entitled to after a certain age — means tested programs are designed specifically as safety net programs.  

(Muffet)

Corn, soybean and wheat prices have soared lately due to poor crop estimates amid extreme drought conditions in 26 states. Let's take a look at those conditions, followed by charts of agricultural commodities The Atlantic Wire reports U.S. Declares the Largest Natural Disaster Area Ever Due to Drought

By Qineqt: Fertilizer Update - Declining Corn Yields