High Food Prices One More Thing We Can Blame On Big Investors
Oct. 27 2008, Published 7:07 a.m. ET
SWEET IOWA GOLD Corn America's crappy housing market, weak dollar, and troubled finance sector have forced institutional investors to look elsewhere for places from which they can draw their rapacious profits. What's hot for spring? Commodities like food and fuel. And that's a big reason for rising prices of those two vital categories: Speculators are dumping their money into the markets and creating a bizarre feedback loop in which speculator demand increases as prices rise. Or so says Michael W. Masters a hedge fund manager who testified before the Senate Homeland Security and Government Affairs Committee yesterday.
- WNBA Rookie Caitlin Clark Fields Cringey Comment From Reporter, Awkward Exchange Goes Viral
- Halle Bailey and Rapper Boyfriend DDG Going Strong Despite Breakup Rumors: 'Not True at All'
- Jenna Jameson Breaks Her Silence After Wife Jessi Lawless Files for Annulment Over Alleged Drinking Issues: 'Empathy is Better Than Shaming'
Of course, not everyone believes this to be true: