Tuesday, March 13, 2012

Thom Hartmann: Are Wall Street Speculators Inflating The Cost of Food?

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Food prices have increased 4.4% in the last year - nearly twice as much as all other consumer goods. And a new study out of the New England Complex Systems Institute argues that Wall Street speculators are the ones driving up the price this year - just like they did in 2008 - when a billion people around the planet were pushed to the brink of starvation, and unrest and food riots swept the globe.
The new study forecasts another food bubble to be inflated by 2013 - that could once again create turmoil around the world. From the ongoing debt crisis in Europe - to rising gas prices in the United States - to increasing food costs around the world - Wall Street is destabilizing the entire global economy - and making huge profits by doing it. Just like they did when they crashed the world in 2008.
(Do you think speculators are to blame? Tell us here.)

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