Banks needing cash temporarily pawn off treasuries to get it – usually just for a day or two. The system is under strain because the Fed has bought so many bonds and also because regulations require many financial institutions to hold bonds as collateral for deals. This is causing deals to fail at unprecedented rates. Plus, Archer Daniels Midland, a major US food processor has agreed to buy a company called Wild Flavors, which specializes in natural flavorings for food products. We pull back the curtain on the business of flavor, and along the way find out about what’s in, what’s out, and the tastes that are trending. Also, some foods are at recent highs, others are cheaper than they’ve been, but overall, the USDA reports, Americans spend far less on food than people in most countries – an average of 6.6 percent of income. Even poor Americans don’t spend appreciably more of their income. We look at what makes food in the U.S. so inexpensive.
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