2011-04-09 — burlingtonfreepress.com
We find this sentiment indicative, but tragically, way off the mark. It is the Fed with its money-printing that has ultimately fueled this "speculation" (really a flight to hard assets), and the "too big to fail" bailouts that kept these "speculators" solvent that is to blame. With those conditions, it'd be insane for commodities prices not to skyrocket.
Food prices have risen so fast that many people are finding it difficult to survive. A few years ago, my wife and I noticed that although prices of specific items had not risen, the packages were made smaller. Sixteen ounces became 14 ounces for the same $2.99. In recent months the gloves came off, and food manufacturers and processors no longer have to try to fool us by reducing the quantity; they are now simply raising prices.
Who is responsible for all this? Are the increases a natural result of lack of supply and over-demand, of low harvests, or natural disasters? No, the same people who caused the financial meltdown are again responsible for people starving.
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