When profits come up against morality…

…it’s rare that profit loses… (Shirley Chisholm, first woman presidential candidate)

commondreams has the story here on the banks’ speculation on food:  corn, soy, and wheat.  Be sure to look at the comments–someone has posted on the Federal Reserve bailing out foreign banks, as well as Goldman Sachs, Citigroup, Morgan Stanley, JPMorgan Chase…the list goes on…

I’m a little skeptical, however, of the person who lists the quotes against the Federal Reserve…sounds too civil libertarian, right-wingish for my liking…

If you recall, I wrote about the drought here in Indiana, but how the ag undersecretary was saying that it shouldn’t affect corn because there were record numbers of corn planted this year.  But after that declaration, they suddenly started saying that there was, indeed, a corn crop shortage and prices at stores were going to reflect that.

About six months ago, a resident of the building I’m in said something prophetic—when Social Security gave a cost-of-living increase…she said that grocery prices were going to go up–they always went up after s.s. increased their checks.  I’ve seen more than one single item jump $2.00 in a month’s time…and they weren’t corn, soy, or wheat or anything that depended on those three…

 

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