Steven Collins
October 11, 2008
While many people are aware that stock and commodity markets are crashing all over the world due to the break-down in global credit markets, few have likely considered the impact this crisis has on food shipments. I wasn’t aware of the connection myself until an alert reader of my website sent me the link below.
It cites one industry source as saying that all kinds of food shipments are “stacked up on docks right now that can’t be shipped because people can’t get letters of credit.” Food shipments are reportedly piling up in ports in the USA and South America because foreign buyers can’t get credit guarantees that producers will get paid. Canadian ports may soon experience the same phenomenon. Obviously, food can spoil or be eaten by rodents if shipments are stopped for a considerable length of time. The link also gives an insight into the degree of contraction in the US economy as it notes that imports have fallen by 9% at the busy ports of Los Angeles and Long Beach.
Revelation 6:5-6 prophesies that famines will characterize the latter day period before Jesus Christ’s return. This link reminds us that these prophesied famines can occur due to global financial traumas well as natural disasters, crop viruses, bee shortages, etc. If the financial crisis continues, the people who were expecting to be on the receiving end of those stalled food shipments will begin to go hungry before long.
http://www.financialpost.com/news/story.html?id=866310
