What else can go wrong? Inflation, high gas prices, home prices drop and now rain, rain and more rain.....result floods. So, what does flooding have to do with the economy? Great question. Read this article and find out what kinds of products will be effected, from this article list, how will it have an impact on you?
27 comments:
The flooding is impacting the corn. This will have an impact on me because of the possible increase on grocery prices in 2009.
This will be even more bad news for our economy, that we may have lost 21% of our corn supply. This guarantees that high food prices will carry into 2009.
This will impact me because corn will go up. Plus chips and pop use some corn syrup, so that will cost more. Our trade defecit will also go up because we will be exporting less.
The flooding is impacting the growth of the corn. This will have an impact on everyone because of the grocery prices going up in 2009. This makes the lives of many people that live from paycheck to paycheck.
Floods have destroyed as much as 3 million acres of Iowa corn. This will impact me because of the predicted increase in grocery prices next year. With high gas prices and all of the other current economic strains, it is terrible that things are only getting worse.
As Gavin Maguire said, we have become very dependent on corn. Maybe the floods will open someone's eyes, and we'll put more effort into discovering ways to replace corn. We tend to rely on specific crops for our economy, and when something goes wrong, it can severely damage finances. These floods, and the salmonella outbreak in tomatoes, and other instances like these, prove that we need to find a way to prevent things like these from severely affecting our economy. That's because, in all honesty, things like this are bound to happen, and we need to have a backup plan of some sorts.
the increased corn prices and increased prices on just about everything that uses corn although just pennies will eventually start putting unnecessary stress on the economic situation of families in the US.
Here is a simplified picture of what happened in the past year. The quantity of corn demanded by high-growth countries rose gradually, increasing eventually by an amount equal to, say, 10% of the previous total global level of corn consumption.
This is a passages from article #9
of our summer work.
I believe if the consumption of corn is growing and that this flood occured that it will defintly hurt more than just us in 2009.
Well this is just another stab into our beat up economy at this moment. This will hurt alot of our countries population because of the overall increase in groceries. The next year or two is going to be rough but we will survive.
Our economy didn't really need this right now. This article was interesting because it affects everyone because the floods will raise prices at the grocery store.
First of all, I had no idea corn was used for so many things. Toothpaste? When I was reading this and learned that the floods have destroyed as much as 21% of Iowas's corn crops (the nation's leader in corn production), I just thought, "So corn prices will rise. That's all." But then it said that dairy prices and meat prices will rise due to the feed that the animals obtain is corn products. This just showed that unfortunately, food prices will rise anymore. One good thing that this devastation has brought about is that we need to learn to not be so dependent one one thing. When that thing fails, and it will, the nation will suffer. We have seen this happen over and over again. Cotton eventually failed in the south. Will we ever learn? Hopefully...
The flooding is impacting the growth of corn. This will have an impact on everybody because of the grocery prices going up in 2009, it's terrible that everything is getting worse.
The flooding has effected the prices on many food products. But also the transportation to get these products to stores is causing their prices to increase. I have been working at a store where we sell meats and produce. I have seen these prices rise by ten cents, if not more. If we can find a way to fix the flooding and protect the corn, the prices of these products could be reduced.
From the article, the flooding in Iowa has greatly altered the corn gathering process, losing a few million acres of farm land. This has a direct impact on our economy because this will raise grocery prices throughout the country. Even though I do not enjoy the pleasures of corn, I am sure that others think differently.
I think that the flooding in Iowa has given the people of America a better outlook on life. The american people now know that these tragedies can occur and we must be prepared for anything that could possibly happen. One thing we must do is spend our money in the smartest manner possible. For instance if corn is going sky high in price then we must avoid buying corn...after all corn is probably the least healthiest vegitable. There are other alternative foods that we could buy that are just as healthy if not healthier. So America are you prepared??
The flooding is really going to impact a lot of people. Corn prices will continue to rise and this will cause the prices of many products like groceries to possibly increase in 2009.
I feel that the corn issue is a fairly easy issue to fix at first glance. All we have to do is stop buying corn for a while. But when you look closer, corn has active ingredients in many products. And it's not easy to abandon buying several items. So basically the shortage on corn is going to increase the grocery prices in the near future.
The flooding that's destroying the corn isn't helping at all. It's causing the prices of groceries to rise, which affects everyone because groceries are another product that we have to constantly buy.
The flooding in the US has been horrible. Who knew corn loss could bring such pain on our economy? In the article, it said not just products produced from corn will go up in price, there will be a price hike with animal products because most are fed corn and products made with it. This will impact me because it will leave a rather pessimistic future. It will leave us with a limited grocery list and won't help those with food allergies in some ways.
Also, imported products will cause prices to go up and some of the products won't last long on the grocery shelves. This year hasn't been a good one for the US, and it is hard to be optimistic in such pessimistic times.
I think the effect this will have is being exaggerated just a bit. The article gave many examples of how the corn crop is used. 3 million acres may sound like a lot but spread that over the entire nation and into dozens of industries and most companies won't take a huge hit. Likewise I doubt grocery prices to rise too much, if anything they only reason they will is because companies will have found an excuse to do so.
This whole situation is very stressful. I, as well as many Americans will be effected by the floods in Iowa because corn is a huge crop in the market. 3 million acres were lost in this flood which is around 21%. This huge loss I am thinking will for sure increase grocery prices next year. People are already paying too much for gas and now we might have to pay too much for food too.
Its shocking how much of an inpack flooding can do for the economy. Of course America is going to see prices rise in 2009, but this situation also shows us that we need to be more prepared if it happens again. I also think that, since corn is used in numerous products that companies should begin looking for alternative ingredients to put in their products. That way we will have more to rely on.
It's amazing how much destroyed corn can effect the economy. It's also more disastroud because of oil companies using the corn ethanol. So it's really hurting more industries than one.
I had no idea how many different products use corn.. even toothpaste. Crazy to see how this flooding can affect so many things.
This would be very bad for us because of our crops and supply. The corn would be destroyed and it would be different next year because of the prices on groceries.
All the flooding has impacted the growth of corn. This will have a impact on me because the pricing will go up on the corn in the future.
The flooding is impacting the growth of corn which will rise yet another price. Also the grocery store prices will be rising 2009 so this is very hard for people to hear that live from pay check to paycheck.
The flooding is impacting the growth of the corn and also the meat and dairy products, which impacts us. The prices will increase and people have to spend more on groceries. It is just unbelievable that Iowa lost between 1 million and 3 million acres of corn production due to the massive flooding.
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