Roubini’s Next Crisis Is Scary Food for Thought: William Pesek

Forget Egypt for a moment. Skip the water crisis in China. Look past angst on the streets of Bangladesh. If you want to see how extreme the effects of surging food prices are becoming, look to wealthy Japan.

So big are the increases that economists are buzzing about them pushing deflationary Japan toward inflation. Yes, rising costs for commodities such as wheat, corn and coffee might do what trillions of dollars of central-bank liquidity couldn’t.

http://www.bloomberg.com/news/2011-02-13/roubini-s-next-crisis-makes-food-for-thought-commentary-by-william-pesek.html