Food bubble

I ran across this interesting Washington Post article via Little Blog in the Big Woods. Greenpa (blog writer referenced above) has been railing against the commodities speculation market for the past month or two because they have been a source/cause of the current very high food prices. As a hedge against declining stock and bond markets due to our looming recession, fund managers, universities and other institutional investors have been speculating on food commodities (from what I understand, anyway. I'm not sure I totally get it). Basically, according to the Washington Post article, we have a food speculation bubble going on.

The article is really important. And you should go read it, especially if you are apt to complain about the high cost of, say, flour or rice. Or the fears of food shortages (or, if you are laughing at those who are fearful of food shortages and think they may be crazy). This is one of those things that effects every single one of us, and no one is immune. I was going to highlight the important sections and post them here as a teaser, but in all honestly, I started copying the entire article, which is not helpful. So go read it. Please.

Here is the link to the whole Washington Post Series on the food crisis. You might have to take that one in little bursts.