Financial tsunami and food scarcity

The world is getting a foretaste of an economic avalanche of massive proportions, the like of which has never been witnessed in recorded history. The present turbulence is just a forewarning of a mighty tsunami that is going to engulf the entire globe, and there is little the economic planners and money managers can do to avert the disaster that is irrevocably going to strike every corner of the world.Spearheaded by oil, gold, food and commodities’ price surges, US recession, and falling value of US dollars as well as all currencies tied to the USD, the shock waves building up are already fanning runaway inflation and unemployment. This spells starvation and death for millions in the poorer societies of Asia, Africa and South America.The statistics of suicides, violence and desperate outbursts of murderous attacks are making life miserable everywhere. To top it all, the misguided policies and flawed perceptions of the US administration, aided and abetted by the Europeans and some others, have added fuel to the fire. The cost of these misadventure, and threats of more of the same against other countries as well (nearly all of the victims being Muslims) do not augur well for the security of the planet.Any intentional or inadvertent use of nuclear weapons can reduce the globe to rubble, destroying every vestige of civilisation ever known to man. That at least can be prevented by change of policies.However, the basic causes of the malaise, and food shortages are here to stay for a considerable time. Tranquillisers may dull the pain, but do not cure the disease, and feeble attempts and lip-service to control the situation are no more than placebos to induce a false sense of security. Some recent words by knowledgeable circles and authorities on the subject are quoted below: According to UN Secretary General Ban Ki Moon, “huge increases in prices of food staples like cereals since last year could erase progress made towards UN-set goals of halving world poverty by 2015. The problem of global food prices could mean seven lost years…for the Millennium Development Goals. We risk being set back to square one.” He noted that several countries had now moved to try to offset the food squeeze by barring export of rice and wheat, or introducing incentives for easier import of foodstuffs.The World Bank says Pakistan needs to revamp its water infrastructure. The Vice Chancellor of Sindh Agriculture University Tando Jam, Dr Bashir Ahmad Shaikh said, “after ten years, the country will face acute shortage of food, and if we do not open our eyes, the Third World War would be based on food.”The real cure can only come when there is a total redistribution of wealth and resources from the ‘haves’ to the ‘have nots’, as a first step. Then there has to be a re-focussing of objectives - from a policy of military domination and armed conflicts for material gains, to a humanitarian approach directed towards universal welfare. This, in economic terms means that concentration of wealth in the hands of a few has to be replaced by an egalitarian society where everyone has a modicum of decent living.Then the causes for present shortages, brought about by so-called ‘investment funds’ trying to corner world supply of all commodities, will be replaced by a system ‘that ensures a fair distribution of essentials among the entire mankind. Also the mad rush for development at the cost of natural ecological equilibrium has to be moderated to ensure a healthy and wholesome life for future generations.