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The Attack On Prosperity: How Speculators Are Causing The Costs Of Living To Skyrocket

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posted on Jun, 14 2008 @ 03:37 PM
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The Attack On Prosperity: How Speculators Are Causing The Costs Of Living To Skyrocket


www.spiegel.de

After investing in high-tech stocks and real estate loans for years, legions of speculators have now discovered commodities like oil and gas, wheat and rice. Their billions are pushing prices up to astronomical levels -- with serious consequences for ordinary people's quality of life and the global economy.

(visit the link for the full news article)




posted on Jun, 14 2008 @ 03:37 PM
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This crap has to stop. These greed-mongers are going to bury this nation and the entire planet with their profiteering off of LIFE NECESSITIES if this isn't reigned in soon. Notice how there appears to be deflection and blame cast elsewhere every time this is brought up? Smells like a cover-up to me...



The question is whether price rises are inevitable, because demand exceeds supply, or whether other, less obvious forces are at work: speculators who are taking advantage of the growing scarcity of resources to make a lot of money fast.

This is about more than just economics. It is also an ethical and highly moral question. Much depends on the answer, including the credibility of our economic system.

Perhaps this is why there are so many voices seeking to defuse the issue and calm things down, those who admit that speculators are at work in the commodities markets, but who also insist that they have little influence over prices. And if they do have an influence, these people say, it can only be a good thing, because it will force humanity to prepare itself more quickly for the unavoidable: the growing scarcity of resources.




www.spiegel.de
(visit the link for the full news article)



posted on Jun, 14 2008 @ 06:28 PM
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Originally posted by DimensionalDetective


This crap has to stop. These greed-mongers are going to bury this nation and the entire planet with their profiteering off of LIFE NECESSITIES if this isn't reigned in soon. Notice how there appears to be deflection and blame cast elsewhere every time this is brought up? Smells like a cover-up to me...



The question is whether price rises are inevitable, because demand exceeds supply, or whether other, less obvious forces are at work: speculators who are taking advantage of the growing scarcity of resources to make a lot of money fast.

This is about more than just economics. It is also an ethical and highly moral question. Much depends on the answer, including the credibility of our economic system.

Perhaps this is why there are so many voices seeking to defuse the issue and calm things down, those who admit that speculators are at work in the commodities markets, but who also insist that they have little influence over prices. And if they do have an influence, these people say, it can only be a good thing, because it will force humanity to prepare itself more quickly for the unavoidable: the growing scarcity of resources.




www.spiegel.de
(visit the link for the full news article)

I agree that something has to be done. However, please remember that its not the average small investor that is causing this crisis but the big institutions. They have the money so they do it to make more. There should be some sort of law to stop speculators from doing this. I can understand making money but hand over fist is just hurting the small people who have to buy these food stuff.



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