“Global Food Prices Set To Soar As The Oil And Gas Crunch Continues…
“Higher fuel prices are weighing on global food supply chains, with transportation and farming costs continuing to climb.”
“Canadian food banks prepare for ‘tidal wave’ of new clients.
“”A volatile combination of high housing costs, pandemic job losses, rising food costs and an anticipated further pull-back on government supports is creating a ‘perfect storm’…” the Food Banks Canada HungerCount 2021 report said in part.”
https://kitchener.ctvnews.ca/canadian-food-banks-prepare-for-tidal-wave-of-new-clients-1.5642072
“‘We are struggling every day’: Supply chain crunch threatens to leave some of the neediest Americans without enough to eat…
“As families across the country deal with wide ranging impacts of the congested supply chain — from delayed furniture to rising car prices — others are facing a more acute problem: finding enough to eat.”
https://edition.cnn.com/2021/10/28/politics/supply-chain-foodbanks-schools-hungry/index.html
“US GDP growth slows sharply in Q3 as consumers downshift spending.
“The United States economy grew at a slower pace in the three months ending September, as a wave of COVID-19 cases, supply chain bottlenecks, surging inflation and ebbing federal financial lifelines downshifted the pace of the nation’s economic recovery.”
“Energy crisis: UK consumers face rising fuel poverty this winter.
“Some 4.5 million Britons are desperate, facing cuts to welfare, rising energy prices and a long, cold winter… over a dozen small energy suppliers have gone bust since September…”
“France Threatens to Raise Energy Prices in U.K. Fish Fight…
“France could lift prices for the electricity it provides via undersea cables to the British Channel Islands off the country’s northwest coast, Clement Beaune, junior minister for European affairs, said Thursday on broadcaster Cnews.”
“Fears Of Rising Baguette Prices Pose Crunch For The French.
“A hike in the cost of wheat is alarming French households who fear a possible rise in the price of the prized baguette, seen by many as a barometer of the country’s economic health.”
https://uk.sports.yahoo.com/news/fears-rising-baguette-prices-pose-142507219.html
“Germany: Inflation reaches 28-year high amid surge in energy prices.
“The annual inflation rate continued to soar for the fourth month in a row, rising to 4.5% in October, with energy prices shooting up 18.6%, estimates from the German federal statistics agency Destatis showed.”
https://www.dw.com/en/germany-inflation-reaches-28-year-high-amid-surge-in-energy-prices/a-59653840
“Energy costs push Spain’s inflation to 29-year high, threatening recovery.
“Spanish inflation surged to a 29-year high in October as national consumer prices rose 5.5% year-on-year, flash data from the National Statistics Institute (INE) showed on Thursday, threatening the economic recovery.”
https://www.reuters.com/business/energy/energy-costs-push-spains-inflation-29-year-high-2021-10-28/
“Europe’s energy crisis: Spain presses Algeria to guarantee natural gas supply.
“For the second time in a month, a Spanish minister met with Algerian officials on Wednesday to guarantee the European country’s [only] supply of natural gas after Algeria closes a pipeline that runs through Morocco this weekend.”
https://www.euronews.com/2021/10/28/spain-presses-algeria-to-guarantee-natural-gas-supply
“Japan’s factory output hit by supply snags as outlook darkens.
“Japan’s factory output shrank for the third straight month in September as the auto sector was hit by a persistent global supply shortage, raising the risk of an economic contraction in the third quarter and throwing the recovery into doubt.”
“China’s Manufacturing Likely Contracted Again on Power Shortages.
“China’s factory slump showed no signs of letting up in October, with activity likely contracting for a second straight month as electricity shortages and soaring commodity prices hit manufacturers.”
“Why China’s economic downturn warrants more than a shrug from global investors…
“The failure to reckon with a much sharper than expected slowdown in China is a grave mispricing of risk at a time when global growth is slowing sharply and central banks are preparing to tighten monetary policy.”
“Third of Chinese developers could face debt problems as Evergrande contagion grows…
“Even if the embattled developer Evergrande manages to meet its latest debt repayment on Friday and head off a potentially disastrous default, analysts at the credit rating agency S&P warned that many other property companies could be heading towards bankruptcy.”
“Vegetables have become so expensive in China recently that they are sometimes pricier than meat, sparking fears about food inflation in the country.
“The sharp rise in prices is due to heavy rain destroying crops earlier this month in major growing regions and soaring coal prices fueling electricity prices…”
“Food Security Alarm Bells Ring in North Africa.
“North Africa, one of the world’s biggest grain importers, is increasingly feeling the impact of higher food costs on grocery bills… [Food price] peaks in 2008 and 2011 are linked with food riots and, in tandem with broader inequity, unrest in areas including North Africa.“
“The prices of major staple food items surged to record high across major markets in Lagos State [Nigeria].
“Notably, the price of pasta, cooking gas, beans, egg, and onions all recorded a significant spike in October compared to the previous month.”
“Zimbabwe: Violent Clashes Erupt As Zanu-PF Blocks Chamisa Entourage in Hurungwe.
“Gun-totting Zanu-PF activists and MDC Alliance supporters engaged in violent clashes at Zvipani business centre in Hurungwe Wednesday after the former attempted to disrupt MDC Alliance president, Nelson Chamisa’s scheduled public address.”
https://allafrica.com/stories/202110280401.html
“Somalia: Renewed clashes dim hopes of a credible election.
“Several days of fighting between government troops and militia have heightened political uncertainty over the long-overdue national polls. In addition, there is still no agreement on the electoral procedure.”
https://www.dw.com/en/somalia-renewed-clashes-dim-hopes-of-a-credible-election/a-59656171
“Death toll rises as Sudan’s capital rocked by more clashes…
“Security forces have clashed with protesters furious over a military coup that derailed a fragile transition to democracy and sparked an international outcry, with the United States and United Nations dialling up the pressure on Sudan’s new military government.”
https://www.aljazeera.com/news/2021/10/28/death-toll-sudans-anti-coup-protests
“The Central Bank of Brazil implemented its largest rate hike since 2002 on October 27, in a fresh bid to tame rising inflation and respond to concerns on fiscal sustainability.
“The monetary policy committee unanimously voted to increase the key Selic rate by 150 basis points to 7.75%.”
“Colombians say role in protests made them targets of vengeful authorities…
“Roughly 95 percent of cases brought against people arrested in anti-government demonstrations fell apart after “extremely exaggerated charges” were brought against them…”
“Ecuador president calls for dialogue with Indigenous protesters.
“Indigenous and rural Ecuadorans have blocked roads in several provinces on the second day of protests against rising fuel prices amid a state of emergency as the president called for dialogue.”
“Gangs Rule Much of Haiti. For Many, It Means No Fuel, No Power, No Food…
“With gangs holding up fuel trucks at will, truck drivers have refused to go to work, setting off a nationwide strike by transportation workers and paralyzing a nation dependent on generators for much of its power.”
https://www.nytimes.com/2021/10/27/world/americas/haiti-gangs-fuel-shortage.html
“Black swan meat now on the menu in North Korea as food supply problems persist.
“Industrial breeding of ‘delicious’ black swan meat kicked into high gear at new farm facility, state media says… Kim Jong Un declared a food crisis in June and urged workers last month to come up with ways to solve the country’s persistent “food problem.”
“‘Apocalypse soon’: reluctant Middle East forced to open eyes to climate crisis.
“With the region warming twice as fast as the rest of the world but oil spoils keeping regimes in power, leaders are in a bind.”
“Here’s what every degree of heat rise could do to the global economy.
“… the financial damage from runaway climate change could surpass the amount of money that currently exists on the planet, according to one estimate.” [an odd way of framing the issue but…]
https://www.cbsnews.com/news/climate-change-heat-global-warming-economy/
You can read the previous ‘Economic’ thread here. I’ll be back over the weekend with a ‘Climate’ thread.
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