Speculators and Our Food: E-I-E-I-O!
Thursday, January 8, 2009 : PermalinkThe Austin Chronicle – Oh, this is just dandy! Hedge-fund schemers and Wall Street manipulators – the very characters who brought us the Great American Housing Collapse – have a new target for their fast-buck profiteering: farming. E-I-E-I-O!
Speculators have long messed with farmers by artificially manipulating prices on everything from corn to soybeans. But now they’re pooling up billions of dollars from global investors to go after the farms themselves, as well as fertilizer plants, grain elevators, ships and barges, and other basic tools for producing, transporting, and storing our food supply. As one hedge-fund operator says: "It’s going on big time.
Tags: american housing, austin chronicle, barges, basic tools, big time, billions of dollars, collapse, farmers, farming, fertilizer plants, food supply, global-investors, grain elevators, manipulators, schemers, soybeans, speculators, target, wall street
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