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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 07:19 AM
Original message
Food inflation a threat, regulation questioned
Source: Reuters

Officials meeting at the World Economic Forum expressed concern on Thursday about soaring food prices stoking social unrest, but corporate figures rejected calls for curbs on speculation.

"Higher food prices and volatility are one of the biggest threats to the global economic recovery and social stability," Ngozi Okonjo-Iweala, managing director at the World Bank, told Reuters on the sidelines of the meeting in the Swiss resort.

U.S. wheat futures rose to a new 29-month high on Thursday as buyers scrambled for supplies amid harsh weather in major producing countries like Australia and Russia.

Street protests in Egypt -- in part stoked by surging prices -- continued into a third day on Thursday following unrest in Algeria and in Tunisia, where President Zine al-Abidine Ben Ali was deposed earlier this month.



Read more: http://www.reuters.com/article/idUSTRE70Q1YF20110127?type=GCA-Davos2011




The important sentence.....

"but corporate figures rejected calls for curbs on speculation"

Government officials better understand that there will be hell to pay if they don't reign in the corporate bastards and stop them from raping the human race.
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wilt the stilt Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 07:59 AM
Response to Original message
1. RW Mantra- let the markets decide
So a few people starve to death. It's the markets that will find the solution.
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molly77 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 08:53 AM
Response to Reply #1
3. More family farms and farmer's markets!
I do not want the World Economic Forum near my kitchen. They screw up everything they touch.
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Joanne98 Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 09:04 AM
Response to Reply #3
4. Great idea.
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 08:03 AM
Response to Original message
2. Another opportunity for the GOP to scream deregulation
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fasttense Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 09:34 AM
Response to Original message
5. Let them eat cake.
The banksters and uber rich are playing games, trying to cash out the few remaining crumbs from a broken economy, while the people starve. And when our duly elected government officials ask them to stop, the banksters and corporate aristocracy say HELL NO!

What will the starving people to do?
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n2doc Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 09:58 AM
Response to Original message
6. Great- So we can eat more Shite and maggots in our "food"
And of course, laws will be passed to "protect" the consumer from finding out where the "food" is from, and what sorts of processing (radiation) it has undergone. "Here, have your Soylent Green, and be grateful for it!"
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BumRushDaShow Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Jan-27-11 11:03 AM
Response to Original message
7. It's ALL speculation
They are sitting on trillions. Rather than invest that $$ into businesses in the U.S. to rehire the laid-off workers and/or increase capacity, they take the money, buy random stocks, and run up the stock market. Then they sell, make a quick profit, and throw it all into oil to run that up. Then they sell that, make a profit, and then throw it into gold to run that up. Then they sell, make a profit, and then throw it into pork bellies or cocoa beans or coffee futures or wheat or other commodities to run those up, then they sell, make a profit, and...

Wash. Rinse. Repeat.

Greedy bastards.
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