Flimsy Sanity: Too bad. so sad

Flimsy Sanity

In individuals, insanity is rare; but in groups, parties, nations and epochs, it is the rule. - Friedrich Nietzsche

Monday, August 04, 2008

Too bad. so sad

As America jumps from one bubble to another, many people hoped the next one would be alternative energy. Too bad it is to be food and water.
Crisis Looms as Corporations Seize Control of Commodities by Barbara L. Minton

Some onlookers blame the financial speculators for driving up the prices of commodities related to agriculture as wealthy investors have piled on looking to cash in on the rising stock prices. And in many ways, today’s commodity market resembles the dot.com boom seen at the turn of the century, as well as the housing boom now in the throws of its bust.

The Commodity Futures Trading Commission recently held a hearing to investigate the role that index funds and hedge funds are playing in driving up the prices of agricultural commodities. Total public fund investment in corn, soybean, wheat, cattle and hogs has risen by 37 billion dollars since 2006. This figure does not include the huge investments of hedge funds which don’t have to make such disclosure. It also doesn’t include the massive world wide investments in farmland made by the wealthy.

Of course the other commodity you can’t get along without is water, which is now the focus of huge multinational companies seeking to privatize water world wide, perhaps even patent it as Monsanto did with seeds.

1 Comments:

  • At 12:44 PM, Anonymous R J Adams said…

    Meanwhile, ADM grows fat pumping out its noxious chemical effluent gases to poison the air of the American Heartlands. One has to wonder how it will end.

     

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