Like the dotcom burst and the subprime mortgage crash, Wall Street speculators are driving a food commodities bubble to its breaking point. If it bursts, high food prices could become the new norm, impacting wallets and bellies everywhere
For you and me, it likely means that our favorite breakfast sandwich has a higher price tag. But for the world's poorest people, even the slightest price increase can force families to sell the few assets they have and pull their children out school.
There is no simple solution to the food crisis. What's needed is a combination of carefully chosen and calibrated short and long term measures.