#INFLATION: Food inflation driven by weather in Brazil and war in Eurasia. @RealConstable Briefings Magazine @BatchelorShow

 By SIMON CONSTABLE

Listen here.

John and I discuss the pending food shortages that will cost the poor disproportionately, as detailed in my recent column for Briefings Magazine.

That and more. Listen here.

Briefings Magazine: The Great Food Shortage?

 By SIMON CONSTABLE

For much of history, a bad harvest could be the difference between life and death. Fortunately, since World War II, grain production has generally kept pace with the global population. But over the past five years, reserves of corn, wheat, and soybeans have dwindled by up to 11 percent, spurring a double-digit price increase worldwide. Two major drivers of the increase are severe weather, which has caused crop destruction, and Russia’s invasion of Ukraine, which has created interruptions in food production. All of this might sound bad, but it may only be the warm-up for something worse. Read more here.

WSJ: FINANCIAL FLASHBACK Joe Jett Kidder Peabody Scandal 1994

FINANCIAL FLASHBACK

A look back at Wall Street Journal headlines from this month in history

By Simon Constable

• 30 YEARS AGO: Kidder Discloses Scam in Bonds, Fires Top Trader

In April 1994, investment bank Kidder Peabody accused its chief government-bond trader, Joseph Jett, of scamming the company. The affair added to the company’s already tarnished reputation, which had resulted from Wall Street’s insider-trading scandals less than a decade before. 

Jett had allegedly created false profits of $350 million to help boost his bonus to more than $9 million. He was accused of doing so by trading in so-called Treasury strips, or zero-coupon fixed-income securities, temporarily producing phantom profits.

The storm around Jett, who was dismissed by Kidder, came after the insider-trading troubles in 1986. Then, arbitrager Ivan Boesky was accused of insider dealing or trading on nonpublic information, by joining with a Kidder investment banker. Read more here.

#FRANCE: Springtime with higher fuel costs for farmers and truckers. @RealConstable @BatchelorShow Occitanie.

 By SIMON CONSTABLE

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CC: Economic Malaise In Scotland Plus JK Rowling Speaks Out On New Hate Law @RealConstable

 By SIMON CONSTABLE

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Entrepreneur and company director Alan Quinn joins us today for an update on Scotland’s economic, social, and legal malaise. Notably, we touch on the new hate crime laws in Scotland, which can mean a prison stay of up to seven years in prison. Author JK Rowling has already asked the police to arrest her after she described several transgender women as men.

We also discuss the increasingly dire government-caused housing crisis in Scotland, and the contrast in efforts by Glasgow and Aberdeen’s local councils in fostering business growth.

BBC story on the Scottish hate laws and JK Rowling’s response is here or c51j64lk2l8o.

Guardian story on the likely temporary relief from rent control, and how it will almost-certainly lead to massive increases in rent costs is here or https://www.theguardian.com/uk-news/2024/feb/11/tenants-scotland-face-big-rent-rises-mass-evictions-from-april-emergency-protections-expire.

The intro is a shortened version of a clip by Richard Wagner, EEF OAL-1, licensed via Wikimedia Commons, performed by:

Conductor: James Allen Gähres

Ensemble: Ulm Philharmonic

Location: CCU Einsteinsaal, Ulm

Opera: The Valkyrie (Die Walküre)

Movement: Prelude from Act 3

Date 3 June 2014

The thunderclap outro is a shortened version of a clip by Jonathan Hunt, CC BY-SA 4.0, via Wikimedia Commons.

UK CEOs: Fleeing to America?

 By SIMON CONSTABLE

US firms are using big pay packages to tempt British CEOs. ‘It’s not a good trend.’ Read more here.

Forbes.com: Economic Slump Ahead If Houthi Red Sea Attacks Don’t Stop, Report Says

 By SIMON CONSTABLE

There’s bad news ahead for the global economy if Western powers cannot stop the Iran-backed Houthi rebels from threatening commercial shipping in the Red Sea, a recent report states.

Under a pessimistic but theoretical scenario world GDP drops by 0.4% this year, according to a paper from the Washington DC-based Institute for International Finance.

It warns of the need for the West to defeat or contain Houthi rebels who are attacking shipments heading towards the Suez Canal. Read more here.