[lbo-talk] Reality check, please

Doug Henwood dhenwood at panix.com
Sat Dec 22 05:26:44 PST 2007


On Dec 22, 2007, at 1:48 AM, Colin Brace wrote:


> Among other things, it appears that speculative capital, which has
> forsaken the credit market, is now focusing on commodities.

Speculative capital can never forsake the credit market - you can't get a good speculation going without borrowed money. That aside, though, speculation typically exaggerates underlying trends but it doesn't create them. The food problem is real, though traders are also trying to make money off it.

Doug



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