In the U.S., anemic growth, an ongoing housing depression, high unemployment and two rounds of quantitative easing (QE) probably have laid a pretty solid foundation for a similar riot map if Chairman Bernanke decides to grace us with QE3. I guess we shall find out when he delivers his speech at Jackson Hole on Friday morning, Aug. 16.
Adding to the food inflation riot is the international military action against Libya. It looks like Muammar Qaddafi’s 42-year rule of Libya has finally come to an end. As the rebel put up a $1.7 million bounty on Gaddafi, the mystery of the day is the whereabouts of Gadaffi who’s last known to be still in Tripoli.
Regardless, it might take some time to restore Libya to the pre-NATO state, which undoubtedly would give oil speculators plenty of excuse to drive up oil prices touting the Sweet Libyan Crude shortage myth.
Google Map Legend
Fist = Overthrown Governments
Flames = Actual food / inflation riots
Police = Protests / other riots
$ = Price increase announcements / Price Controls / Stock market issues
! = Strike in inflation / food related industries
Phone = Internet/ Twitter /shutdown