Listen up--here is another way our quality of life is going to go down the drain.
The culprit--the growing Chinese middle class.
Forty percent of the Calif. orange crop goes to China.
Now today, we learn that an incredible amount of Maine lobsters are going to China. (There was a monster haul last year, yet I noticed the retail price did not reflect this. Now I know the reason.)
What's next--chocolate, cranberries, New England maple syrup?
The reason for this is that the Chinese middle class is 300M and growing!
And, dear readers of "Your Economy", what happens when the Chinese currency becomes as strong or stronger than the U.S. dollar? The U.S. is $20T in debt.
Food products that we take for granted will become luxuries that only the top 10 percent will be able to afford. We will go back to the situation that existed in the 19th Century.
My solution is Federal legislation that would put strict limits on food exports to countries that have more than 1B billion people. A simple fix, imo.
