Arbitrary Rice Prices
April 24th, 2008 by robinAbout 10:00 this morning I heard Cathie Lee Gifford talking about the sudden rationing of rice by supermarkets. She stated that fuel costs and low harvest were likely the culprits.
Well, who believes that… and who’s behind the mechanism of this new assault on our wallets?
Obviously rice is scarce in a large part of the world, but since the impoverished regions haven’t expanded exorbitantly in the last 24 hours, please don’t claim that the worldwide food shortage actually caused the current US rice shortage. It just ain’t so.
It is far more likely that commodities speculators, encouraged by the recent discovery of their superpower: the “Ability To Arbitrarily Raise the Price” (ATARP). ATARP worked great on oil, so the vulnerability of other commodities is being tested. Another possibility: A cadre of commodities players may have conspired to precipitate this event. Or possibly: ConAgra is taking one last big dip into the pot while G-dub stands by grinning.
Regardless of the underlying causes, we must not stand idly by while vast numbers of people starve worldwide because what is likely to be no more than a financial shenanigan perpetrated by very wealthy Americans.
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Posted in Greed | |
