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Reply #55: I tried to point that out at the time [View All]

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Warpy Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Sep-15-11 09:55 PM
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55. I tried to point that out at the time
that commodities bubbles were being created in all sorts of commodities by the big investment banks and hedge funds because commodities were relatively easy to manipulate, especially once Phil Gramm changed the rules.

I've disagreed with Krugman over the past year because this present crop of commodities bubbles are following the same damned pattern the last one did. Krugman denies it's taking place. I know it is from watching the patterns of large amounts of money in and how it's also taken out.

The problem is that commodities prices are being manipulated worldwide, increasing the costs of such staple foodstuffs as rice and wheat. The price bubbles are largely the cause of the Arab Spring. Populations had put up with brutal regimes for the sake of order until food prices went through the roof. Add hunger to repression and you get revolution.

The Koch boys were some of the smaller players in this, actually. The big banks had much larger positions in this stuff. Together, they created bubble markets.

The psychology behind a bubble market has the small fish rushing in as it's being noticed and the big fish use that opportunity to pull out with their profits. Then the small fish lose their shirts when the price corrects without all the big money inflating it. It's how the last vestiges of wealth are generally bled off the upper middle class.

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  -Leaked Documents Reveal Major Speculators Behind 2008 Oil Price Shock: Hedge Funds, Koch, Big Banks, kpete  Sep-15-11 05:46 PM   #0 
  - how about now?  ixion   Sep-15-11 05:47 PM   #1 
  - No This Time It's Different!  wellst0nev0ter   Sep-15-11 05:56 PM   #5 
  - Matt_Taibbi_Hater =EQUALS= Corporatist Shill  vets74   Sep-16-11 07:06 AM   #86 
     - +1000  valerief   Sep-16-11 04:07 PM   #108 
  - Yep, gas is almost as expensive now  DissedByBush   Sep-15-11 07:59 PM   #27 
  - it's 3.85 in CT, very close to price in '08 when oil was at $150/barrel  wordpix   Sep-15-11 11:44 PM   #66 
  - Now, dems blame the speculators, and repugs blame the dems  bhikkhu   Sep-15-11 09:44 PM   #52 
     - No, Paul Krugman said that oil speculation had nothing to do with it.  The Doctor.   Sep-15-11 11:25 PM   #64 
     - Krugman has good points on most things  bhikkhu   Sep-16-11 12:10 AM   #68 
     - Document your assertions  CAcyclist   Sep-16-11 09:49 AM   #92 
     - Here is Paul Krugman's actual opinion from 2009  CAcyclist   Sep-16-11 09:53 AM   #94 
     - "Blame" ties to criminal acts. Goldman/Aleynikov "secret sauce" breaks exchanges' security  vets74   Sep-16-11 07:53 AM   #87 
  - Kick and Rec one time for the teabaggers  Kingofalldems   Sep-15-11 05:51 PM   #2 
  - Won't do much good  Andy823   Sep-15-11 09:20 PM   #46 
     - That must be why none of the MSM  dotymed   Sep-15-11 09:57 PM   #56 
     - Elucidate, my dear Watson.  raccoon   Sep-16-11 09:59 AM   #95 
        - Not at all.  dotymed   Sep-16-11 01:14 PM   #101 
     - Teabaggers have been told to  Enthusiast   Sep-16-11 02:08 AM   #70 
  - kr nt  bananas   Sep-15-11 05:53 PM   #3 
  - kr  Norrin Radd   Sep-15-11 05:55 PM   #4 
  - A veritable who's who of criminal high rollers n/t  Hydra   Sep-15-11 05:57 PM   #6 
  - The extra money out of our pockets went to these named speculators.  Waiting For Everyman   Sep-15-11 06:00 PM   #7 
  - Nobody could have imagined...  yardwork   Sep-15-11 06:03 PM   #8 
  - "We need to end all regulation and let the 'free market' rule. Smirk." - Republicons  SpiralHawk   Sep-15-11 07:09 PM   #18 
  - Just like planes into buildings.........nt  Enthusiast   Sep-16-11 02:11 AM   #72 
  - I am quite certain that OPEC had nothing to do with it...  Cool Logic   Sep-15-11 06:03 PM   #9 
  - But...High prices are Obama's fault!  lindysalsagal   Sep-15-11 06:14 PM   #10 
  - Well, of course, Obama isn't pals with any of these anti-democractic corporations ... is he?  defendandprotect   Sep-15-11 10:56 PM   #60 
  - Koch criminal enterprise.  sarcasmo   Sep-15-11 06:15 PM   #11 
  - Quite the group of players. eom.  Hotler   Sep-15-11 06:35 PM   #12 
  - The speculators are scum .... but ....  cosmicone   Sep-15-11 06:39 PM   #13 
  - No, we'd just be paying $8.00 a gallon like they do in Europe.  bluesbassman   Sep-15-11 08:06 PM   #30 
     - The $8/gallon in Europe is not due to demand  cosmicone   Sep-15-11 10:29 PM   #59 
     - what does this have to do with driving SUV's? And $8 gas in Europe & Canada gets you health care &  wordpix   Sep-15-11 11:48 PM   #67 
  - Thank you , Bernie. Now can we hang someone?  aquart   Sep-15-11 06:46 PM   #14 
  - Not as long as there are reality shows and millionaires posing as journalists.  SomeGuyInEagan   Sep-15-11 11:11 PM   #63 
     - Three words: Barack Hussein Obama  tcaudilllg   Sep-16-11 01:00 AM   #69 
  - 'Brunch with Bernie' should be good tomorrow.  santamargarita   Sep-15-11 06:52 PM   #15 
  - Surprise!!!! Oh ya....NOT!  SoapBox   Sep-15-11 07:03 PM   #16 
  - Republicon Family Values = Screw America and Americans  SpiralHawk   Sep-15-11 07:07 PM   #17 
  - These people should be in prison.  glinda   Sep-15-11 07:13 PM   #19 
  - K&R  davidwparker   Sep-15-11 07:13 PM   #20 
  - And this should be posted to the canada group. Bank of Montreal huh?  glinda   Sep-15-11 07:14 PM   #21 
  - They 'play' the same game as all the others...  Amonester   Sep-15-11 10:10 PM   #58 
  - The Return of Koch  EvilMonsanto   Sep-15-11 07:28 PM   #22 
  - This is a perfect example of why the corporate mafia want another  INdemo   Sep-15-11 08:06 PM   #28 
  - Duplicate  INdemo   Sep-15-11 08:06 PM   #29 
  - Bet they did it because they knew everything was near collapse anyway  catzies   Sep-15-11 07:41 PM   #23 
  - Sounds plausible......nt  Enthusiast   Sep-16-11 02:14 AM   #73 
  - The rich are fucking everyone.  sakabatou   Sep-15-11 07:45 PM   #24 
  - In every orifice. And when they're done with them, they break skin and make more. nt  valerief   Sep-15-11 09:03 PM   #42 
  - Simple fix  bl968   Sep-15-11 07:46 PM   #25 
  - They used to have position limits.  subterranean   Sep-15-11 09:33 PM   #49 
  - I'm all for your solution.  Enthusiast   Sep-16-11 02:15 AM   #74 
  - RECOMMENDED. Bookmarked. Everyone should read and bookmark and re-read.  JohnWxy   Sep-15-11 07:46 PM   #26 
  - If we had a real Justice Dept. - or even a real FBI, this list would be investigated. nt  cyberpj   Sep-15-11 08:13 PM   #31 
  - If we had a real media they would report on it.  Enthusiast   Sep-16-11 02:18 AM   #75 
  - If they found out coffee was going to run short, they'd speculate on that  bhikkhu   Sep-15-11 08:20 PM   #32 
  - Legal, but hardly normal to trade bits of paper which represent items you never  plumbob   Sep-15-11 09:43 PM   #51 
     - Bob, you are plumb!  Enthusiast   Sep-16-11 02:21 AM   #76 
  - an economy....  unkachuck   Sep-15-11 08:22 PM   #33 
  - so we finally we have the details......  madrchsod   Sep-15-11 08:28 PM   #34 
  - Shocker  Mr Gerrity   Sep-15-11 08:32 PM   #35 
  - Can we sue them? Class action?  McCamy Taylor   Sep-15-11 08:34 PM   #36 
  - Greed isn't a crime, esp. When you rig the laws  Demeter   Sep-15-11 09:49 PM   #54 
  - When are the big media conglomerates going to pick  rainy   Sep-15-11 08:37 PM   #37 
  - Yeah!  Enthusiast   Sep-16-11 02:22 AM   #77 
  - It's just awesome that the Democrats have told us about this!!11!!  Fumesucker   Sep-15-11 08:43 PM   #38 
  - Koch werent speculators to the upside  dd2003   Sep-15-11 08:51 PM   #39 
  - Leaked? This is an official statement of fact.  WhiteTara   Sep-15-11 09:01 PM   #40 
  - Make them take delivery...  farmbo   Sep-15-11 09:02 PM   #41 
  - It is not fair that we can't clone Bernie. K&R  Jefferson23   Sep-15-11 09:07 PM   #43 
  - +1000  Luciferous   Sep-15-11 09:21 PM   #47 
  - Senator Sanders  classysassy   Sep-15-11 09:13 PM   #44 
  - No, but it is a short list imo. Marcy Kaptur, the Congresswoman is another favorite of mine  Jefferson23   Sep-15-11 09:18 PM   #45 
  - Favorite here too..........nt  Enthusiast   Sep-16-11 02:24 AM   #79 
  - That makes two total.  7wo7rees   Sep-16-11 10:27 AM   #97 
  - Close.......nt  Enthusiast   Sep-16-11 02:23 AM   #78 
  - Bernie is a hero.  russspeakeasy   Sep-15-11 09:31 PM   #48 
  - Google [sanders community health center ]  vets74   Sep-16-11 08:09 AM   #88 
  - Can we call it racketeering now?  Arctic Dave   Sep-15-11 09:41 PM   #50 
  - Not unless there is the appearance of illegality.  SnakeEyes   Sep-16-11 11:55 AM   #100 
     - It is if the result is price fixing, which this seemed to be their planned outcome.  Arctic Dave   Sep-16-11 03:36 PM   #106 
  - Who knew?  Octafish   Sep-15-11 09:45 PM   #53 
  - I tried to point that out at the time  Warpy   Sep-15-11 09:55 PM   #55 
  - I took issue with Krugman on his blog in 2008..  girl gone mad   Sep-16-11 03:32 PM   #105 
     - Thanks it's nice to know I'm not the only one.  Warpy   Sep-16-11 05:38 PM   #109 
  - It's how the GOP funds their presidential elections.  Hubert Flottz   Sep-15-11 09:57 PM   #57 
  - +1000% --- Costs corporations a lot to buy our government and elected officials -- !!  defendandprotect   Sep-15-11 11:02 PM   #62 
  - SO much happened in 2008 yet it's seldom mentioned  young_at_heart   Sep-15-11 11:00 PM   #61 
  - You're right.  Enthusiast   Sep-16-11 02:47 AM   #80 
  - And let me guess, nothing will be done to them because they fund everyone's campaign.  Arthur3284   Sep-15-11 11:26 PM   #65 
  - Did you figure that out all by yourself?  Enthusiast   Sep-16-11 02:50 AM   #81 
  - kr nt  Enthusiast   Sep-16-11 02:10 AM   #71 
  - Ed and Rachael should be talking about this...  Sancho   Sep-16-11 04:00 AM   #82 
  - What we were saying, but now confirmed....  dmosh42   Sep-16-11 04:10 AM   #83 
  - Quelle surprise. Non?  Somawas   Sep-16-11 04:28 AM   #84 
  - Hey, don't employees of some of those companies now work in the White House??  progressoid   Sep-16-11 06:54 AM   #85 
  - I recall a story of some speculator who stated  Javaman   Sep-16-11 08:14 AM   #89 
  - Top 25 when all four groups are added together includes China??? as fourth?  Festivito   Sep-16-11 08:28 AM   #90 
  - Caaaaaaaaptainnnnnn Obvious flies in.  obxhead   Sep-16-11 09:02 AM   #91 
  - GREED  blkmusclmachine   Sep-16-11 09:53 AM   #93 
  - Let's blow that list of players up a little more  chill_wind   Sep-16-11 10:23 AM   #96 
  - k&r  KansDem   Sep-16-11 10:38 AM   #98 
  - No to new taxes, but yes to higher gas prices?  SpankMe   Sep-16-11 11:09 AM   #99 
  - where is koch in that list? i don't see it.  DrunkenBoat   Sep-16-11 01:20 PM   #102 
  - K&R... Love the pic  disillusioned73   Sep-16-11 01:46 PM   #103 
  - Kicked and recommended.  Uncle Joe   Sep-16-11 02:06 PM   #104 
  - K&R n/t  myrna minx   Sep-16-11 04:06 PM   #107 

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