www.zerohedge.com BY TYLER DURDEN
Global food prices have never risen so fast and have never been so high, and as have detailed multiple times in recent months (as this is not simply a one-month, ‘blame it on Putin’ crisis), most recently here, the pieces are in place for some serious tears to form in the social fabric of many nations.
While food prices may be generally seen as an emerging market problem, they will have an effect on developed markets too, something we will see in the upcoming French election.
And as the following table from Bloomberg Economics shows, while Pakistan is already in the midst of a political crisis and Egypt is already coming under financial pressure (along with Peru and Sri Lanka), the surge in food prices is also adding to problems in the developed world.
