derail this economy and saying respectfully, i think that inflation was a big factor onyxen, people are very, very angry about inflation and don t minimize what could happen here. guys, let s leave it here and cost of freedom continues to stay on top of the middle east and why some on the forbes gang are saying, proving our out of control debt here is putting us all in danger. that s up at the top of the hour and is president about to to tell states making deep cuts to cease and desist, a massive bailout may be, too. work, work all week long punching that clock from dusk till dawn countin the days till friday night that s when all the conditions are right for a good time [ male announcer ] advanced technology thatel provide cleaner air, cleer water, and helps make all of us more energy efficient is something the whole world can get in step with.
and food for decades. they re in some sort of a catch 22 now because you know, they have this economy that s to charlie s point, has been locked down, not been mobile at all and at the same token, they re subsidizing things and things like part of their problem is the government might be in the way over there. well, it s an interesting thing and i m glad you brought it up, charles. it s a true, truth of all the world, that governments have been promising more than they can deliver. the government in the u.s. is promising more than it can deliver and the government in egypt more than it can deliver and the governments in europe, promise more than they can deliver. the cat is out of the bag now, as are the chickens have come home to roost or whatever you want to say, people are going to find out the governments can t keep the promises that are going to be angry. and you know, in terms of rising food prices around the globe, where governments are getting it wrong, and you ve heard thi
spiking food prices in egypt has been one of the causes of their unrest and maybe the catalyst. but hardly the only one. you know, if they didn t have a brutal regime, they might not have had the same outcome they had with the food prices. but we do need to worry about it being a catalyst in other nations adam, you ll freely admit that. i agree, no question. i disagree somewhat i m not saying to have a brutal regime when the economy is great, but what s interesting about this rove lucien and maybe good about about it in a sense this was not sparked apparently, we don t know all the facts, it looks like it wasn t sparked purely by a sort of muslim brotherhood or radicalism, it looks like it was sparked by people wanting more freedom, wanting more economic freedom and worried about putting food on the table. they re out of work and prices, stagflation is one of the worst things that can happen to any economy. ben, i want to bring this back to you because you mentioned governments
political instability, a time in our country, people questioning our future and whether we would remain a super power. you know, because there was an oil shock, what s causing it now in egypt and maybe across the globe, and some people say even here. we have high unemployment and starting to see commodity prices rising and here is what ben pointed to before. immense amounts of demand from china and obviously, a slow down in the economy. adam what do you think? we re all celebrating and everyone a sort of sigh of relief, but the fact of the matter is what s beneath the surface, the food inflation across the board could make this a tough world for a long time. i think that s absolutely right and i don t want to minimize the thesis because i agree with it. this is going to be a global problem and when commodity prices spike, whatever that is, it becomes a political problem very quickly, no matter what country you re talking about, remember our gas crisis from a few years ago, a politi
installation, we have great concern in china, brazil and need to worry about the instability it creates in emerging nations, in particular, where a larger percentage of the people s income is taken up by food prices, but even, we should start to worry about it here in the united states, at least the impact on our economy because you ve got companies from kelloggs, sara lee, kraft, pepsi, rising prices across the board and as more of our income gets sucked up by income, crisis of our own. and ben, food prices, mattel said the price of ken and barbie is going higher. without a doubt, this is certainly a challenge for the whole world, but could it lead to the upheaval we ve seen across north africa? well, food prices and commodity prices are all food prices as dagen pointed out dramatically so. the and this leads to political instability and people blame their government when they shouldn t and inflation is everyone and that s something we have to