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many of you may remember back in two thousand pages are connie was heading in
the fall meltdown
there was also a foreign crisis for the entire lol
the price of wheat skyrocketed creating panic around the world
two thousand eight became the first year in human history
but the population of those who went on greek increased
an increase of more than two hundred fifty million people a quarter of a
billion in just one year
more than a billion people around the world bordered on starvation
buffoon crisis is even felt here the united states of america with forty nine
million people
struggling to feed themselves
and demand for food stamps in soup kitchens exploded
whose chaos
there were four right sir
there's something strange about that two thousand eight food crisis
and the price of wheat because dad
simply
there was no shortage of wheat
in fact two thousand eight yielded the largest amount a week
in the history of the world
six hundred fifty seven million bushels
work sold at all
it was a record-breaking surplus
so was such an enormous apply a week
what caused the prices to shoot
answers phone on wall street
in nineteen ninety-one goldman-sachs was looking for another financial instrument
that they could sell
a retired speculating with debt realestate and realize that the new
horizon was food
so they created an index of commodities
cattle corn wheat but they could then sell to investors
as more more investors bought into their sport index
prices began to rise so despite there being funny a wheat
prices continue to climb because investors were purchasing more more
future commodities futures on the obvious commodities and two thousand
eight
the economist that the the magazine noted that the food prices had increased
to a level not seen since eighteen forty five
a bubble has been created
thanks to goldman sachs
but as then chairman of the kansas city board of trade pointed out
isn't just any commodity its phone and people engaged
he was right
wall street bankers had manipulated the price of the most basic need for
everyone on the platform
and the effects of that gamble
rippled across the entire glow
with hundreds app bows ins of people
donnie of starvation
in two thousand
me well goldman made a killing in profits
eventually the bubble burst and prices return to normal but the damage is
already done from christ two thousand eight
as merely a byproduct of loose oversight in our markets and millionaires in
billionaires who had
far more money than they knew what to do with thanks for the reagan bush tax cuts
this should be a lesson learned right
well today's financial times newspaper there's a story about food prices in the
u_s_ biking again
too extreme weather
climate change u_s_ agriculture department once again cut crop forecasts
and word of a shortage in grain production
corneal estimates of now been cut for a third month in a row caused the price to
jump to six dollars a bushel for the first time
since two thousand eight
cotton soybean also
jacking up as food prices are on the rise will wall street jumpy to begin
again after all what else are you going to do with ur billions
rinse wash repeat
that's the big picture