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Wall Street Behind High Food-Oil Prices Causing Global Instability.

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HolyCity2012 Donating Member (378 posts) Send PM | Profile | Ignore Mon Apr-25-11 03:02 PM
Original message
Wall Street Behind High Food-Oil Prices Causing Global Instability.
 
Run time: 09:54
http://www.youtube.com/watch?v=brR_AEUFA_E
 
Posted on YouTube: April 25, 2011
By YouTube Member: Geddy008
Views on YouTube: 0
 
Posted on DU: April 25, 2011
By DU Member: HolyCity2012
Views on DU: 788
 
Making Fortune on Poverty: JP Morgan's Big Food Stamp Business

While most Americans are struggling hard to overcome the hardships of the recession, the profits of national banks continue to rise. JP Morgan is among those cashing-in ... and it's a contract to process food stamp payments that's helping it on its way. RT's Maria Portnaya found out how the rich benefit off the back of the poor.

http://www.democraticunderground.com/discuss/duboard.ph...
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Food Prices Rise to 'Dangerous Levels'

If the saying is - 'you are what you eat' - what are you if you have nothing to eat? That may be the predicament facing tens of millions of people in developing countries after a 15 percent food price index increase - a rise the World Bank says hits 'dangerous levels'.

http://www.democraticunderground.com/discuss/duboard.ph...
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Republicans to America: Poor Kids Don't Have Enough Pain

60 Minutes" aired a special on the record number of children falling into poverty due to the recent recession.

http://www.democraticunderground.com/discuss/duboard.ph...
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Vinnie From Indy Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 03:12 PM
Response to Original message
1. Goldman Sachs truly is a "vampire squid jamming it's blood funnel into anything that smells like...
money".

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dkf Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 03:36 PM
Response to Original message
2. This is what Al Gore warned us about: Soaring food prices and global warming.
As my colleague William Neuman reports, the United Nations Food and Agriculture Organization announced this week that food prices hit a record high last month. Its Food Price Index was 214.7 for December, the highest level since the organization created the index to measure the price of a standard basket of goods in 1990.

Some environmental groups are attributing this partly to an increase in extreme weather that scientists say is probably linked to global warming.

OxfamAmerica said that a major contributor to this price surge has been the disastrous effect of extreme weather events on harvests of certain crops. The record rise in food prices is a grave reminder that until we act on the underlying causes of hunger and climate change, we will find ourselves perpetually on the knifes edge of disaster, said Gawain Kripke, policy director for the organization.

This summer, for example, Russian wheat crops were devastated by a season of unusual drought and wildfire. Pakistans crop yields were reduced because of floods. In Laos and Cambodia, food production was compromised by delayed and erratic rains, the Food and Agriculture Organization said.

http://green.blogs.nytimes.com/2011/01/05/extreme-weath... /

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girl gone mad Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Apr-25-11 05:51 PM
Response to Reply #2
3. Disruptions caused by weather have not impacted production significantly enough..
to explain the large spikes in prices.

We have a plentiful supply of most goods and demand is still suppressed post-crisis.
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