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thenewgreen · 4885 days ago · link · · parent · post: Time to Wake Up: Days of Abundant Resources and Falling Prices Are Over Forever
As China and India's middle classes grow and they get a penchant for foods that they previously ate little of, it will drive prices up too. -It already is. For example, China is eating more beef and they aren't able to produce enough. Therefore they are importing it from the US, thus driving our cattle prices up. Food Costs are going to be an issue. That being said, we currently spend a very small percentage of our incomes on food. -If I recall it was at about 15% in 1975 and in 2005 it was around 10% of total income. -Much like "prices at the pump", people will not care until it hits them directly in the wallet.