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Business news without the bullshit
More monetary mayhem
courtesy of Wall Street
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Playing games with people's hunger
Not everyone gets billions of dollars in interest free money from the Fed.
Most people work for the money they get. This creates a real problem for people whose wages have been stagnant (or declining) while the US government shovels trillions of dollars to banks to help them cover their gambling losses.
What do banks like Goldman Sachs and JPMorgan do with the free money?
They "play" ... with wheat prices, with corn prices, with oil prices.
There is no supply/demand reason for commodities to be as high as they are now. It's all speculation based on free money given to bankers.
Note: The prices will come down eventually - precipitously - but in the meantime hundreds millions of people go hungry and have had their standard of living decimated.
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