So when considering how this recession is emotionally or physically affecting us (in economic terms), it’s impact is less dramatic in the U.S. just based on the economies of scale and mechanized agriculture that we have built up over the past 30 years. This, and the U.S.’ status as the consumer of last resort, means that it gets food stocks that other countries may not immediately get offered. While the morality of this or any macro economic global decision can be debated, what cannot be debated is that while many in the U.S. are unemployed or underemployed, it affects the psyche & savings accounts more than the stomach.And compared to other countries, there’s no other place on the planet that has cheaper food than the U.S. (2008 data here). The 5.5% of disposable income that Americans spend on food at home is less than half the amount of income spent by Germans (11.4%), the French (13.6%), the Italians (14.4%), and less than one-third the amount of income spent by consumers in South Africa (20.1%), Mexico (24.1%), and Turkey (24.5%), which is about what Americans spent DURING THE GREAT DEPRESSION, and far below what consumers spend in Kenya (45.9%) and Pakistan (45.6%).
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