But it's Ok, Wall Street will set commodities prices for us, including a hefty profit margin for themselves. And if their price setting doesn't reflect the outcome of actual buyers and sellers of the good, well no worries because you can't stop 'em, Washington protects them.

http://news.yahoo.com/drought-reaches-record-56-continental-us-235924965.html

Comments

anonymous green 3 years 47 weeks ago
#1

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

OBAMA!!!! WOLF!!!!! FIRE!!!!!!! DROUGHT!!!!!

anonymous green 3 years 47 weeks ago
#2

Elliott,

So, Capitalism is a PROFIT SCHEME?????

Why didn't someone tell us this in the sixties?

Gee, thanks!

We're 'forever in debt to your priceless advice'.

telliottmbamsc's picture
telliottmbamsc 3 years 46 weeks ago
#4

And furthermore, don’t forget that concentration of wealth has lead to (i) an increase in the availability of investable funds to financial markets. It has also lead to a corresponding decrease in risk aversion when it comes to all sorts of gambling activity.

Now, we all know that when we sit down to a card game and everybody at the table has loads and loads of cash that they are willing to spend it like water the pot is going to tend to be pretty darn high. Well on Main Street that size of the pot correlates with the price we are going to pay when we go to the store to buy something that includes the underlying commodity like, sugar, corn, flour, grain, crude oil, and the like. Wall Street distorts the price! Wall Street and all the fun money they have inflates the price the 99% has to pay for these commodities.

Another analogy is the item on E-bay that attracts bids from 1% who have tons of cash to burn. They bid like dollars were dimes and the price of the auction item inflates.

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