Food Shortage Explained - It's About To Get Real
Published: 2022-05-09
Status:
Available
|
Analyzed
Published: 2022-05-09
Status:
Available
|
Analyzed
Predictions from this Video
Incorrect: 0
Prediction
Topic
Status
The global food shortage is predicted to worsen by the end of 2022.
"the bad news is it's probably going to get worse by the end of this year"
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Food prices are at their all-time highest levels.
"we are now seeing food prices hit the highest levels they've ever been"
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The current food shortage is expected to have a global impact exceeding that of World War II.
"will have a global impact beyond anything we've ever seen since world war ii"
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Rising food and gas prices, combined with inflation, are predicted to lead to a recession and ultimately stagflation.
"it's this kind of a situation with food and gas prices going higher that's going to put us into a recession and when coupled with inflation is going to give us the worst possible economic outcome which is stagflation"
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Factors contributing to the food shortage are expected to exacerbate it by the end of 2022.
"what's going to make it worse by the end of this year"
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Russia and Ukraine together account for 25% of global wheat exports and 20% of global corn exports.
"apparently 25 of all the wheat exports in the world comes from just two countries russia and ukraine 20 of all the corn exports comes from russia and ukraine"
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Approximately 90% of the world's sunflower oil is exported from Russia and Ukraine.
"and about 90 of all the sunflower oil comes from there as well"
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A shortage of fertilizer will lead to reduced crop yields, consequently increasing food prices.
"less fertilizer means less crops less crops means the price of them goes up"
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The US Department of Agriculture forecasts a 4% increase in the cost of food at home by the end of 2022.
"the u.s department of agriculture is predicting that food at home is going to end up costing us four percent more by the end of this year"
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Due to a severe heatwave, India's wheat output is projected to decrease by 6-10% in 2022.
"this year right now they recorded their highest march month in the last 100 years and that is estimated to lower their wheat output by six to ten percent this year"
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Since the Russian invasion, global food trade restrictions have tripled.
"ever since the russian invasion right here the amount of trade policies on food restrictions around the world has tripled"
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High gas prices and supply chain disruptions, such as Shanghai's lockdowns, are impacting food availability and prices.
"gas prices which obviously affect anything and everything that requires transportation and supply chain problems like we're seeing the new shanghai lockdowns which means everything is stuck in their ports once again"
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The United States exported $177 billion in agricultural products, significantly more than Russia and Ukraine combined.
"the united states exported 177 billion dollars so almost three times that"
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Empty shelves for specialty products like baby formula and sunflower oil are anticipated later in 2022.
"we could start seeing empty shelves specifically for specialty products like baby formula and maybe even sunflower oil"
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Stagflation is defined as a combination of rising inflation, increasing unemployment, and a declining GDP.
"stagflation is a combination of three things inflation unemployment and the gdp all going in the wrong direction"
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A second consecutive quarter of negative GDP would signify a full-blown recession.
"if we got another quarter of a negative gdp we would be in a full-blown recession"
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Stagflation last occurred in the 1970s.
"the last time we had it was sometime in the 1970s"
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The 1970s marked an inflection point that fundamentally altered the economic landscape.
"an inflection point that happened in the 70s that sort of changed everything"
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