I'm not very up to speed on the happenings of the world, but while cooking dinner last night, it was said that the reasons for the riots were unemployment and the high cost of food. I can't help but think that this country is/will be feeling that frustration too. Some blogs have buzzed that food prices will skyrocket as will fuel prices in the coming months. I read this before the unrest in Egypt began. :shock:
The slightest increase in Commodities prices for food water energy have a huge impact on people in developing and middle eastern countries as well as the poor and middle class in say Greece Ireland Spain England the U. S. and well all of us soon enough. If you add to that the fact that most countries idea to solve their national/state/local government debt problem is to raise taxes, cut benefits except on the wealthiest 2% or corporations that provide reelection capital, then you have sooner or later civil unrest.
Did you notice recently that Florida Power and Light was allowed a rate hike and a guaranteed 9% ROE.
Food prices have risen slightly here - a couple percentage points - nothing like abroad where the government was implementing price controls because prices were doubling and tripling.
We grow a lot of our own food - and since even CHINA thinks our GMO food stuffs are unsafe and won't import them, we won't have a lot of competition for those supplies. :roll:
When gov't grows so do your taxes to pay for it. You don't see gov't employees taking pay cuts like you do in the private sector. The wealthiest 2% have been paying the taxes all along for the poor who don't pay. There's no reason for the poor to get upset because they elect people who quickly ratchet up inflation making basic neccessities expensive. People have been screaming about this but sadly it falls upon deaf ears who want to believe in change.
When gov't grows so do your taxes to pay for it. You don't see gov't employees taking pay cuts like you do in the private sector. The wealthiest 2% have been paying the taxes all along for the poor who don't pay. There's no reason for the poor to get upset because they elect people who quickly ratchet up inflation making basic neccessities expensive. People have been screaming about this but sadly it falls upon deaf ears who want to believe in change.
yeah except the 2% pay a smaller % of income than a waitress and the poor pay every other tax beside income taxes. And really government grows tax revenue by the success of the private sector. Local general government revenue and spending was only $50 million plus a little in 2000 and was $108 million plus just 5 years later.
The United States provides $1.3 billion a year in military financing for Egypt. According to the State Department's 2010 budget request, the aid is used to help strengthen and modernize the Egyptian army.
It's effectively a bribe to keep them playing somewhat nice with Israel.
And the riots are a situation that's been simmering for years at this point. I remember seeing an Anthony Bourdain show there in 2008ish and the situation both political and in terms of food prices seemed extremely tense and barely controlled even then.
