Topic: Wheat Prices

French President Emmanuel Macron warns the French public about the economic blowback of sanctions against Russia, including rising prices for wheat and fuel. The EU is preparing for a massive influx of over one million Ukrainian refugees, mostly women and children. The hosts argue that Europe is "hosed" by these policies, which were avoidable through earlier diplomacy.

Ukraine and Russia account for nearly 30% of the global wheat market, leading to warnings of significant food price increases. Global oil prices approached $100 a barrel, with European gasoline prices exceeding 1.60 euros per liter and California prices nearing six dollars per gallon.

Since the 2011 revolution, illegal construction on fertile farmland in the Nile Delta has risen exponentially, with 20% of arable land reportedly lost. The Egyptian government claims the law prohibiting construction is impossible to enforce without a "society movement." This loss of farmland threatens the country's food security, particularly regarding wheat and bread production.

The hosts mock Rick Perry's unique pronunciation of "Israel" in a campaign clip. They transition to news of massive protests in Tel Aviv over rising food costs, noting that protesters have brought out a guillotine to signal their anger toward the government and speculators driving up wheat prices.

Severe weather and flooding in the English Midlands and Northern regions have devastated the local wheat crop. Estimates suggest a third of the normal harvest has been wiped out, causing wheat prices to triple and forcing imports from Germany. This agricultural crisis is expected to drive up global food prices significantly.