This Author may not have this right, only reading what a Columnist has said; but if it is true, it inspires One. India finally allowed International combines to buy wheat from private farmers, previously limited to Government-controlled transactions last year. This year they find about a 12% rise in Wheat price, a 22% rise in Atta flour price, and a shortfall in Wheat purchases for their Welfare assistance program, so they are violating their own Pesticide regulations to buy Wheat from the Internationals at even higher Prices for Wheat. The interesting fact is the Indian Government refusal to raise the Prices they offer to their own farmers for Wheat. Did I miss something here?
This sounds like another George W. Bushism on Free Trade!
It is a fundamental tenet of the Bush administration that any Trade deal which increases Corporate Profits is wonderful Free Trade, while any infringement on Corporate Profits remains an adulterous Trade barrier. We all remember Bush and Republican Congress forbidding bulk volume negoitiations being used by the Social Security Administration to fund the Proscription D program, fearing the American Workers might only have to pay half of the projected Cost; eliminating the huge Corporate Profits involved. There still is no National Energy Board as sole Importer of Energy resources; such a Board might even be able to dictate Prices to Oil Producers and Oil Companies. George W. Bush stands in the breach, protectioning international Corporate profits.
Some Economist should do a Study, lucky that I am very lazy, studying the P/E ratios and total growth of numerial Stock volumes; to determine how much increase of Product Price/Unit was needed to maintain the P/E ratios now as versus ten years ago. Such an investigation will allow Us to understand how much higher such Profits have to rise, in order to maintain the P/E ratios. A single Worker could support a Family of Four in 1960 by working some 40 hours per week; now the said Worker cannot even pay for the medical insurance, let alone the Mortgage, Utilities, Taxes (remember Property, Sales, Excise, and Income), and Food; forget about Entertainment and Savings. Now I have figured it out: You have to possess $2 million in Stocks, Profits protected, in order to survive. lgl