Does Barack Obama Cause Global Hunger?

[WhiskeyGirl]

How is it possible that since Bush left office food prices have been skyrocketing?  Folks are rioting because inflation is fueling food and energy costs?  The world hasn't changed that much in two years, but some things in the US have.

Is Barack Obama responsible for the global rise in food costs? 

Is Barack Obama responsible for rising energy costs?  Rising taxes?  High unemployment in the U.S.?

What I've learned over the past few years, feel free, anyone to correct me...

The U.S. Dollar is the global reserve currency.  Many countries do not allow their currency to 'float' and peg their currency value to the U.S. Dollar. 

As Barack Obama has spent at record levels, borrowed record amounts of money, and created record breaking debt for future generations, The Fed has helped by printing lots and lots of money.

This printing of money, money backed by nothing, has created massive inflation in the U.S. and in other countries.  Thus, food costs more for those in places like Eqypt. 

If the nation had continued with modest debt as under Bush, and little Fiat money added, would all this inflation have happened?  Is the inflation caused by Obama's spending and money printing and debt?

I think it is.  While in other nations, the people struggle on $2 a day, American's living in poverty have enough to maintain a car, go on vacations, buy recreational drugs, big screen TVs, spend on casino boats, cruises...

Why would anyone want to cause those struggling on less than $2 a day to struggle even hard to buy food?

I think Obama's spending is the cause of rising food and energy prices.  There is no shortage, just a moral vacuum in Washington.

Just my humble opinions.

[WhiskeyGirl]

The Federal Reserve Is Causing Turmoil Abroad

Few protesters in the Middle East connect rising food prices to U.S. monetary policy. But central bankers do.

In accounts of the political unrest sweeping through the Middle East, one factor, inflation, deserves more attention. Nothing can be more demoralizing to people at the low end of the income scale—where great masses in that region reside—than increases in the cost of basic necessities like food and fuel. It brings them out into the streets to protest government policies, especially in places where mass protests are the only means available to shake the existing power structure.

The consumer-price index in Egypt rose to more than 18% annually in 2009 from 5% in 2006, a more normal year. In Iran, the rate went to 25% in 2009 from 13% in 2006. In both cases the rate subsided in 2010 but remained in double digits.

In the US, I recall candidate Obama promising to bankrupt utility companies, and likely subscribers, all the little people on Main Street, families...the unemployed...

The Fed is financing a vast and rising federal deficit, following a practice that has been a surefire prescription for domestic inflation from time immemorial. Meanwhile, its policies are stoking a rise in prices that is contributing to political unrest that in some cases might be beneficial but in others might turn out as badly as the overthrow of the shah in 1979. Does any of this suggest that there might be some urgency to bringing the Fed under closer scrutiny?

Scrutiny?  How about abolish the Fed?

read more here - http://online.wsj.com/article/SB10001424052748704657704576150202567815380.html?mod=googlenews_wsj