News Bites: Add food riots and rising misery index to economic gloom
Welcome to our new feature News Bites where we discuss money in the news: Be aghast, discuss, or just lurk. We don’t mind.
Here’s an item from the San Francisco Chronicle about a global rice shortage that may sour Costco and Sam’s Club shopping trips this weekend:
The worldwide rice crisis lapped over into the United States this week when Costco Wholesale and Wal-Mart’s Sam’s Club, the two biggest warehouse retail chains, limited the amount of bulk imported rice customers can buy. Sam’s Club said the restriction is due to “recent supply and demand trends.”
Try not to complain. Apparently, the rice shortage caused rioting deaths in Cameron and hungry protesters in Haiti to boot their prime minister.
I know economic news hasn’t been apples and sunshine lately, but this other quote (same article) kind of makes it sound like we should all throw in the towel:
In London this week, the executive director of the World Food Program, Josette Sheeran, warned that more than 100 million people will be pushed into poverty by a “silent tsunami” of sharply rising food prices.
“This is the new face of hunger – the millions of people who were not in the urgent hunger category six months ago but now are,” Sheeran said. “The world’s misery index is rising.”
World misery index is now part of our vocabulary. Wow.
Next time you hear someone complain about gas prices, slap them.
These Costco shoppers getting turned away are not your average person; they are businesses buying pallets of rice. No one is going to stop you from buying your Uncle Ben’s rice bowl, they are stopping people from supplying your rice-heavy business via the grocery store.
‘Tis true, Jen. However, I really want to go around saying “world misery index.” It may replace “hot mess” as my favorite phrase.
Well I was in the Oriental Market the other day and a 50 lb. sack of my favorite “Three Ladies” Brand Thai Jasmine Rice had gone from $37 to over $50 since I last bought one about 10 weeks ago.
But all in all those of us in the “First World” really have nothing to complain about even if it has gone up by a third.
Especially when you remember that when you cook it it absorbs water (or stock or whatever) and swells to 3 times its original volume and over 3 times the weight. So COOKED rice is still less than 50 cents a lb.
A Rice Cooker is an appliance EVERYONE should have.
~ Roland
John: So my comment is a bit off-topic… but since we’re talking about rice and hunger, it’s a good time to remind people that the majority of corn and soy grown in the world feeds cattle, pigs and chickens… not people. We can do something about world hunger and food riots by consuming less meat.
Who eats rice? Too many carbs.
A.J.: I think carbs in general get a bad rap.
Nina: Thanks for bringing that up.
Roland: If I had a rice cooker, I think I’d be making brown rice more often than pasta.
I found this rice primer to be fascinating.
Hey John,
Almost 25 years ago I bought a National Rice-O-Mat model SR3NA which makes either 2 or 3 cups of cooked rice…enough for one or two persons.
The unit is made by Panasonic and is sold under both the National and Panasonic names with the same part number..SR3NA.
While a bit pricey…I think almost $40 now they seem to be indestructable as mine has gotten a thorough workout several times a week for over 25 years.
I never got into Brown Rice though…I prefer the Jasmine…smells like someone is making Popcorn while its cooking and has a nice firm bite kind of like al-dente pasta with a good flavor.
~ Roland
Brown rice is one of the best things you can eat and is still relatively inexpensive esp if you buy bulk. Even at whole foods we are talking like $1.60 a lb.
I think carbs, especially smart carbs have gotten a bad wrap. The other key is portion control. Ever eat at a restaurant lately? When they hand you a plate that can feed a family of 2 or 3? Yet people actually finish their plate? That’s the demon of it all…not the whole grain pasta or brown rice.
“Girl, you look like the world misery index”
I like it.