quote:

ORIGINAL: popeye1250

Well if it's Ethiopia, the Sudan or "pirateland" over there who cares? Fuck 'em!
It's not the responsibility of U.S. Taxpayers to be feeding people in foreign countries.
What do all the do-gooders want to do, feed them so that their population doubles, triples? What do you do then?
What happens when the U.S. and other countries can simply not grow anymore food than they currently are?
Do you think all the fat people would go on diets ?
Boy, it's easy to be charitable when you're using other people's money (Taxpayer Dollars), isn't it? This shit needs to end.

quote:

ORIGINAL: popeye1250

Well if it's Ethiopia, the Sudan or "pirateland" over there who cares? Fuck 'em!

quote:

ORIGINAL: calamitysandra

quote:

ORIGINAL: popeye1250

Well if it's Ethiopia, the Sudan or "pirateland" over there who cares? Fuck 'em!

This really shows your colours once more. You are a sad, sad excuse for a human being.

quote:

ORIGINAL: Nineveh

quote:

ORIGINAL: popeye1250

Well if it's Ethiopia, the Sudan or "pirateland" over there who cares? Fuck 'em!
It's not the responsibility of U.S. Taxpayers to be feeding people in foreign countries.
What do all the do-gooders want to do, feed them so that their population doubles, triples? What do you do then?
What happens when the U.S. and other countries can simply not grow anymore food than they currently are?
Do you think all the fat people would go on diets ?
Boy, it's easy to be charitable when you're using other people's money (Taxpayer Dollars), isn't it? This shit needs to end.

This doesn't even make sense.  The OP is not arguing for more food aid, what is being argued is that unregulated financial speculation drove up food prices.  You seem to be identifying your interests as in common with the speculators when it is far more likely that you would be more benefited by stable food prices.

It's this same sort of unregulated speculation that leads to huge jumps in gasoline prices in the US.  Should American car drivers also be fucked to preserve the speculators casino?

quote:

ORIGINAL: Sanity

In reality the left has locked up the majority of our energy reserves as well as shut down nuclear power plant construction, and so forth. Now theres a squeeze on the market, people are dying, and you want to blame capitalists?

And you think I'm the one who is insane?

Its you far left FREAKS who have lost it.

quote:

ORIGINAL: willbeurdaddy

Too bad the author of the article doesnt understand how speculation impacts current prices, and therefore places the "blame" in the wrong place. Futures/derivatives/speculation do not and cannot DIRECTLY impact current prices. Their actions are simply bets on future prices, sometimes to cover existing risk, sometimes just as a gamble. It is a zero sum game. Somebody wins and somebody loses on every futures contract.

So how does speculation INDIRECTLY affect current prices? If it is done in sufficient volume, then producers horde their product expecting that as the futures contracts eventually unwind, it will be at higher deliverable price than they currently command. The producers artificially lower supply, and if demand is inflexible, as it generally is in food and energy, then price goes up. So dont blame the speculators, blame the farmers.

Oh, I forgot, they arent as much fun to blame as Wall Street.

quote:

ORIGINAL: Politesub53

They also need to look at subsides, where cases of cheap grain from one country has reduced the farming ability of another, such as the cheap grain sold by the US to poorer nations, destroying local farmers livelyhoods.

quote:

ORIGINAL: flcouple2009

quote:

ORIGINAL: willbeurdaddy

Too bad the author of the article doesnt understand how speculation impacts current prices, and therefore places the "blame" in the wrong place. Futures/derivatives/speculation do not and cannot DIRECTLY impact current prices. Their actions are simply bets on future prices, sometimes to cover existing risk, sometimes just as a gamble. It is a zero sum game. Somebody wins and somebody loses on every futures contract.

So how does speculation INDIRECTLY affect current prices? If it is done in sufficient volume, then producers horde their product expecting that as the futures contracts eventually unwind, it will be at higher deliverable price than they currently command. The producers artificially lower supply, and if demand is inflexible, as it generally is in food and energy, then price goes up. So dont blame the speculators, blame the farmers.

Oh, I forgot, they arent as much fun to blame as Wall Street.

Oh Wilbbbuuuuur, remember it is better to remain silent and be thought of a fool than speak and remove all doubt.

But as we all know you erased the doubt ages ago.

You think all of these people were buying oil futures for 3 years from now?  there was a lot of speculation on 30, 60, and 90 contracts.  You think that doesn't effect the price now?  Not to mention that speculation like that effects the prices on the spot market.   

But wait, oh yes you know something magical that the economist who tell you these things don't know.  lol