Mar 5, 2008

The Inflationary Surge in Food Cost

By Jimmy DeYoung

As the global economy copes with the sub prime crisis, fall of the dollar, and oil at over $100 a comes the inflationary surge in food cost.

World economic centers are reporting grim news for everyone as the global economy is almost to cope with the sub prime crisis, the fall of the dollar's value around the world and the price of oil at over $100 per barrel. There is the news that the inflationary surge in the cost of food could be the final straw.

Food costs, which now dwarfs the rise in oil prices, is the result of three separate factors: the overall population increase, the emerging economies like China and India with their food needs and the short-sighted government subsidies for bio-fuels which is eroding the amount of crops available for eating.

As the global economy today faces many crises, the inflationary surge in the cost of food is the one crisis that has a connection to the End Times scenario that can be found in Bible prophecy.

The rapid rise in the cost of food around the world is having an important effect on our world today with word coming that it can only worse. Pakistan, for instance, has reintroduced food rationing cards, while at the same time China and Russia are imposing price controls on food. In the US, food future markets recently set the cost of wheat at $24 per bushel, a price that was $3 per bushel some four years ago and the price of wheat has doubled already this year. Though many analysts say it is a political problem the world faces rather than a food shortage, the truth is that is will become a problem predicted by Bible prophecy.

Jesus Christ, in His Olivet Discourse given in Jerusalem just before His crucifixion 2,000 years ago said one of the signs of His return to Earth would be people coping with famine around the world. John, the Revelator, in Revelation 6:5-6, said that food prices in the Last Days would rise to where it would take a day's wages to buy enough wheat to feed a family of four for one day.

No matter what the cause is for the inflationary surge in food cost, the stage is being set for Bible prophecy to be fulfilled.