food rationing in the usa, page-12

quaor,

Good point, but that was related to a specific cyclonic event and you could still buy bananas - they just cost a bomb.

frank,

Funny you should mention that. I was just reading a very interesting article by Wolfgang Munchau said in the Financial Times, which used that analogy in showing how the western governments are cheating their own populations by using bastardized CPI methodology. Here's an extract:-

“I remembered the way out suggested by a great princess when told that the peasants had no bread: ‘Well, let them eat cake.’”

Jean-Jacques Rousseau, Confessions

When I saw reports of food riots, I was reminded of these immortal words, often attributed to Marie Antoinette, although there is no evidence that she used them. The modern equivalent to “let them eat cake” is: “Core inflation is well contained.” Core inflation is a measure that excludes goods whose prices are currently rising the most – food and oil. It is a popular concept among some central bankers and academics, and an insult to consumers: let them eat refrigerators.