Ben Bernanke and the Fed, whether they admit it to the American people, are the coconspirators in the middle east turmoil. Surging food prices sparked the unrest through out Tunisia, Egypt and other countries.
The U.S. deliberate weak dollar policy was supposed to trigger a Reaganesque recovery here, which it has not. What we are seeing are the repercussions of the Fed’s decision that go far beyond our borders. Commodities are priced in dollars, so when we cheapen the dollar things become out of control. Hundred of millions of people live on the margin and the increased cost of life’s basic necessities have mortal consequences.
Bernanke & Co. laughs and takes no responsibility for what is happening around the globe, but when the Fed went on this same bender in 1970 soaring food cost turned the politics in Iran up side down. – Steve Forbes