Wealth Today » G7 http://www.wealthtodayblog.com Personal Finance Advice On Being Rich, Investing Wisely, Reducing Debt, Repairing Credit, Budgeting, Taxes, Savings Tue, 28 Oct 2008 04:50:31 +0000 en hourly 1 http://wordpress.org/?v=3.2.1 The G7 Discusses the Dollar and Rising Food Costs http://www.wealthtodayblog.com/the-g7-discusses-the-dollar-and-rising-food-costs http://www.wealthtodayblog.com/the-g7-discusses-the-dollar-and-rising-food-costs#comments Tue, 15 Apr 2008 16:35:06 +0000 joshuak http://www.wealthtodayblog.com/the-g7-discusses-the-dollar-and-rising-food-costs Much of the world’s economy is based on the dollar and the dollar’s value has dropped. As a result, the price of food is increasing on a global scale. The economic advisors from seven of the largest economic-countries met along with the International Monetary Fund and the World Bank Group.

All members recognized the impact that the falling dollar has had on food, and more important the all agree that price control and subsidies are not the answer because they “tend to create fiscal burdens and distortions.”

Interestingly enough, for the first time in a long time, the G7 is breaking the mold by bringing into action a move to slow the foreign exchange markets, hoping to put a halt to the dollar’s decline.

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