Outragous inflation in India

If you think that inflation is getting worse in the USA just compare that to India, where the BBC is reporting an increase of 11%! India imports about 75% of it's oil and is held hostage at the whim of the oil producing countries. The Indian government subsidies the cost of oil but now it has to pass along those costs. The result is sky high food costs where most people only earn $2 a day and 50% or more of that goes to buy food.

My thoughts are that the greedy of this world have gone global and their greed for more money will affect people around the world. It has truly become a world economy now. Food costs will go up because of 2 major factors. One of them is the rising cost of oil and the other one is Global Warming that will affect the climate of the crop growing regions of the world. Both of those factors can be traced back to greed.

1 comment:

The knowledge tree said...

I use to import items for my little store from India. I had to give that up when they raised their prices to the point of being more expensive than to buy made in the USA.