The Lindberg Report Podcast: The New Global Crisis? Food!
BMO Financial Group strategist Donald Coxe warns that the current credit crunch and soaring oil prices will pale in comparison to a looming shortage of food.
Again, I’ve included a podcast, just in case you’d rather listen:
Investors are being warned, a global food catastrophe is emerging, a dire prediction he dropped on the Empire Club’s 14th annual investment outlook meeting in Toronto.
Coxe blames heavy demand from the biofuels industry, and the growing middle classes of countries such as India and China. To keep up with the demand, he says food output needs to be expanded dramatically.
