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S Illinois | Your view of what other countries spend on food is incorrect. Foreign consumers do not spend nearly what you seem to think. On a absolute dollar value the amount spent varies with many countries spending less on food than the US and other spending more. The biggest driver of the dollar amount spent on food is the amount of income earned by consumers. This factor has nothing to do with food cost. Food preferences are another big driver. Whether that be meat or organic food.
Food prices are stable not because of some perceived government backing of grains. Rather food prices are stable because those grains are a small portion of food cost. Double corn prices and you will see a little change at the supermarket. Cut the price in half and similar things happen. Oil prices are the only commodity that truly affect food prices to a large degree. This idea that all of this land would go fallow if we didn’t have government programs is laughable. | |
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If MFP folks had HALF a brain...
