The Food Bubble: How Wall Street Starved Millions and Got Away With It
By Heather Wednesday Jul 14, 2010 2:00pm
Thom Hartmann talked to author Frederick Kaufman about his cover story in this month's edition of Harper's Magazine The food bubble: How Wall Street starved millions and got away with it.
It's subscription only but you can read more about Kaufman and his work at his blog AmericanStomach.com.
Thom shared a little of the article during his interview with Kaufman.
Hartmann: "The history of food took an ominous turn in 1991, at a time when no one was paying much attention. That was the year Goldman Sachs decided our daily bread might make an excellent investment."
And then towards the end of the story, just a couple of sentences here. "Bankers had taken control of the world's food, money chased money and a billion people went hungry." Remember the food riots of a couple of years ago around the world?
"The world wide price of food had risen by 80% between 2005 and 2008 and unlike other food catastrophes in the last half century or so, the United States was not insulated from this one." Could it be because it was our banksters that were doing it?
"As 49 million Americans found themselves unable to put a full meal on the table, one in five kids came to be dependent on food kitchens. In Los Angeles nearly a million people went hungry. In Detroit, armed guards had to watch over grocery stores." And then the question, "Could this happen again?" more