Thom Hartmann - Is Food the Next Bubble?

[thomhartmann]

Run time: 03:14 https://www.youtube.com/watch?v=hN_UIMuC37M   Posted on YouTube: November 11, 2010 By YouTube Member: thomhartmann Views on YouTube: 222   Posted on DU: November 12, 2010 By DU Member: thomhartmann Views on DU: 674

 
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[avaistheone1]

1. From the big rises we are experiencing in food prices

it sure looks that way.


Cool that you are on RT, Thom.

k&r

[ClayZ]

2. K and R

[social_critic]

3. Flawed analysis

This is a flawed analysis. Blaming Goldman Sachs for rising food prices is childish. There are deeper underlying reasons. For example, the US mandate for biofuels is shifting corn to make ethanol. Another reason is economic growth in China and India, their people consume more food as they get richer. It also ignores another fact: if food prices go up, then farmers profit, if they profit, they tend to plant more crops and work harder at it, many who move to the cities to work as gardeners and maids stay home and work the fields. This market signal increases supply, and moderates prices. In conclusion, I don't find this guy to have the proper background to discuss the subject, he leaves too much out.

[BigD_95]

4. did you listen to what he said?

You wrote "This market signal increases supply,"

There wasnt a shortage is what Thom is saying. They made it seem like that to make a profit.