Food
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Written by Stumo
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Saturday, 03 May 2008 |
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We have trade deficits caused by free trade agreements and the free
trade wackos say we need more to fix the problem. The same goes
for the hunger problems now - they claim we need more of the thing that
caused the problem. This letter to the editor makes the point
To the Editor:
The column says the flow of agricultural products from poor countries
to rich ones is producing more wealth for those poor countries. But
we have a global food system that extracts the wealth out of the
worlds poor rural communities to fill the stomachs and now the gas
tanks of the wealthy.
This system has stripped poor countries of the ability to feed
themselves, and of the mechanisms to protect their populations against
the fluctuations of global commodity markets. This crisis may just now
be hitting headlines, but it is years in the making, and free trade
policies are at its core.
Christina M. Schiavoni
Manhattan, April 28
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In the news
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The following article was written by Peter Morici on April 29, 2008:
Will the Fed Broaden Its Focus?
The Federal Reserve will almost certainly cut the target federal funds rate a quarter point to two percent on Wednesday. Fed watchers will be looking at the policy statement for clues as to whether the Fed will pause after cutting rates 3.25 percentage points since June.
The Fed may like to stop cutting rates. So far, rate cuts have aided homeowners with adjustable-rate mortgages and other borrowers with loans indexed to domestic interest rates; however, those cuts have not substantially increased bank lending.
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Read more...
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