US Agriculture Secy: Food Inflation to Hit 43%

"Internationally we’re looking at a 43% inflation rate in food this
year," Ed Schafer, US secretary of Agriculture, told CNBC Tuesday.
Schafer said the big driving factor was energy

Food Inflation to Hit 43%: Schafer
click for video
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Bonus video: PIMCO’s Bill Gross and CNBC’s Steve Liesman discuss the dollar and future interest rate decisions.

The Dollar & Interest Rates
click for video
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What's been said:

Discussions found on the web:
  1. Steve Barry commented on Jun 5

    This Einhorn must be a hack…otherwise he wouldn’t be so public in shorting LEH. LEH is probably a good short, but others are likely better. According to exposure ratios on BoomBustBlog MS, GS and MER might be much better shorts.

  2. Chief Tomahawk commented on Jun 5

    About 3min 20 seconds into this video Becky Quick asks Dennis Gartman about commodities. Gartman theorizes the CFTC is going to reclassify long-only index funds as hedgers because of political pressure. Gartman thinks commodity prices will then fall 25 to 30 to 40%, possibly within 6 months.

    http://www.cnbc.com/id/15840232?video=760686450

  3. Loren Steffy commented on Jun 5

    BizLinks and Open Comments | 6.5.08

    Continental to cut 3,000 jobs, slash domestic flights — and at the same time Airfares from Bush Intercontinental leaping skyward Third Texas electric provider in a month defaults Wal-Marts Detractors Come In From the Cold Gas Prices Seen Hurti…

  4. dave commented on Jun 5

    How does that make him a hack? Talking his book, but with much disclosure. He details his argument, and if LEH can’t send Wondergirl to refute on the record they burn. Bill A. did it with the monolines, had great sucess, was correct. Lot of stocks “might be” better shorts, the “Hack” is on the record.

  5. Francois commented on Jun 5

    43% inflation?

    If this is “contained”, one has to assume a much bigger container.

  6. Risk Averse Alert commented on Jun 5

    Dear GS and MS:

    Can you say “Crimes against humanity?” At least the Nazis had the balls to put their evil challenge right in humanity’s face. You, on the other hand, hide yours in the commodities pits. Shall we call you shameless pigs, or the City’s useful fools? This Henry Clay would shut you down and put you all on a leaky boat to Mother England…

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