Thursday, May 06, 2010

Is Wall Street Engineering a Food Bubble for the Third World?

This is the rotten, predatory face of a financialized economy - extracting wealth from bringing misery to the poor.

At some point we're going to have to come to grips with the need to rein in the financial sector to keep them out of critical areas. Wall Street is already up to its neck in the carbon trading industry and now it's wreaking mayhem by gaming food futures. I'm sure all of this is going to make the vastly rich vastly richer but at what cost?

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