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« Book podcasts | Main | What OLPC now needs »
Global food crisis
Category: Prime Stream
Posted on: April 24, 2008 9:26 AM, by Selva
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A large part of the problem is that speculators are cornering the market on basic foodstuffs, trying to maximize their profits by taking supplies off the market to drive up prices. It used to be this kind of thing was illegal. Now it's standard business practice.
Posted by: Bill the Cat | April 24, 2008 10:24 AM
Bill, Various talking-heads have stated that this is not the case and that commodity traders provide useful market fluidity. That increased demand in developing countries like India and China is driving prices up.
They're lying.
The rise in rice prices gives it away. This is a engineered crisis. There's no way that demand has doubled in six-months, it's a physical impossibility.
The problem is that through manipulation of options it's possible to control the market with just a small amount of money. Enron manipulated the energy crisis in California a few years ago (remember that? blackouts and brownouts) until they got greedy. All the same excuses were trotted out back then too - increased demand, low supply.
Where's the California energy crisis today? gone. And I guarantee you the state of California has not reduced their energy consumption.
Posted by: NoAstronomer | April 24, 2008 11:18 AM