Re: Prosperity in India causing global food crisis: Bush
Hello!
This is a very naive statement by Mr.Bush and the surprising thing is that a few others, including some economists have said that.
It is a fact that India is becoming a bit more prosperous and yes, with prosperity consumption is bound to go up. But that happens gradually, not all of a sudden in one season.
There have been some crop failures but not to this extent. There has to be significant speculative activity going on.
Mr.Bush may not have understood that such statement can sound insulting to people of India.
I will advise him to take a hard look at allowing brazilian cane based ethanol instead of forcing conversion of corn to ethanol.
He should also have his father the srnior Mr.Bush to use his Carlisle Group connection to sit down with the Saudi Arabians and figure out why the OPEC cartel members themselves are also one of the biggest forward traders of oil.
Major damage has been committed by Mr.Bush's administration to international economy and relationship and I will blame that rather than us poor Indians eating one more roti.
I hope everyone approves my first posting
With regards
Pundit Vikram