PreviewThe people shape their own destiny
-- either as free people or as slaves.

If they remain self-reliant, they stay free.
Ever expanding state power destroys lives.

Government panacea is a defective idea.
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Wednesday, December 1, 2010

The Bitter Taste of Sugar

The Democratic Party profits their Big Buddies.

Citizens Against Government Waste issued a report detailing how instead of helping out small U.S. sugar farmers, the program has “concentrated a vast amount of wealth in the hands of a few large individuals and conglomerates.”

The wealthiest 1 percent of sugar farmers receives 60 percent of sugar subsidies, and the program inflates the domestic price of sugar to at least twice the world market price, which has led to the loss of U.S. sugar refining jobs as well as secondary jobs in industries that use sugar, such as candy, cereal, and baked goods manufacturers.

“The sugar program is the epitome of government waste. Taxpayers spend hundreds of millions of dollars each year on a program that kills jobs, guarantees an inadequate supply, and puts subsidies in the hands of wealthy corporations. In these tough financial times, President Obama and Congress could begin to exercise fiscal restraint by eliminating corporate welfare programs like this one.” said CAGW President Tom Schatz.

Government waste & other foods

For the second time since 2008, the world is entering the gates of a food crisis. Government micromanagement might starve us.

The prices of just about every crop over the past six months have hit record territory. Wheat is up 23%, soybeans are up 17%, and corn prices are up 40%, compared to 12 months ago.

However, the grain basket pales in comparison to what’s happening in the Breakfast Club, where other “soft” commodities like sugar (+45%), coffee (+40%) and butter (+18%) are rising to their highest levels in more than two decades.

Clearly, agricultural inflation, or "ag-flation," is back…

Lucky us.

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