Another Food Price Crisis On the WayBy Raj
<http://rajpatel.org/author/raj/> on 05/12/2010 in Uncategorized
<http://rajpatel.org/category/uncategorized/>
In these two videos Jayati Ghosh, whom I interviewed for Stuffed and
Starved and whose mind is filled with whip-smart insight, offers a short
primer on why financial market speculation drove up the price of food in
2008, and why it's likely to again. Very simply, there is once again
money with which traders can gamble courtesy of the bailouts
and while people are tired of bailing out banks, governments can't
credibly say that they won't intervene in food markets. So
there's tremendous moral hazard
<http://en.wikipedia.org/wiki/Moral_hazard> . Traders know that when it
comes to futures in food, they can't lose. A different story,
obviously, from the 1 billion who are already hungry. They're losing
every day. The majority of them: women and girls. Watch Jayati's
videos below, or read the transcript, courtesy of the good people at The
Real News Network
<http://therealnews.com/t2/index.php?option=com_content&task=view&id=33&\
Itemid=74&jumival=553> . [Updated with functioning video links)
