economy

Food Rationing Confronts Breadbasket of the World

Many parts of America, long considered the breadbasket of the world, are now confronting a once unthinkable phenomenon: food rationing.

Major retailers in New York, in areas of New England, and on the West Coast are limiting purchases of flour, rice, and cooking oil as demand outstrips supply. There are also anecdotal reports that some consumers are hoarding grain stocks.Read more

OPEC is at it again.

The Organization of the Petroleum Exporting Countries (OPEC) has scaled back oil production just in time for colder weather in most of the industrialized world. That means gas and fuel oil prices for those of us in the U.S. will be climbing again.

I don't pretend to be able to understand the intricacies of international economics, but some things just don't make any sense at all to me. According to a New York Times story by Eric Pfanner, OPEC countries cited a sluggish global economy as a major reason for the cut in production. If you ask me, this seems very counter productive to a more robust global economy.

Especially as I sit here in the U.S.Read more