04-Feb-2011

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Egypt

+ Roughly 40% of Egyptians survive on less than $2 per day.

+ The price of unsubsidized bread rose by 10X in 2008 and the cost of rice doubled in 1 week.

+ National Minimum wage is virtually unchanged since 1984.

+ Represents more than 15% of Europe’s natural gas supply and 4% of world’s crude oil supply.

Tidbits

+ Canadian business bankruptcies fell 26% in 2010 to a record low of 3.4 per 1,000 businesses.

+ If the US creates 425,000 jobs per month, it would take at least 10 years to bring the unemployment rate down to 6%. If they create 325,000 it would take at least 20 years.

+ UN food price index hit a record in January and upward pressure is not abating.

+ Look for the price of t-shirts and jeans to rise as cotton prices are at a 140 year high. Also, farmers may switch some of their crops to cotton from corn or soybeans.