On Feb 16, 2011, at 7:01 PM, Doug Henwood wrote:
> |
> Farmers who hedge can get creamed. See p. 49:
>
> http://hsgac.senate.gov/public/_files/REPORTExcessiveSpecullationintheWheatMarketwoexhibitschartsJune2409.pdf
>
> Grain elevators too.
>
> Also, the failure to converge hurts farmers and elevators, but
> that's another story.
Populist capitalist demagogues (Sarkozy out in front, even of the Coburns and Levins) love to blame "speculators" for the fact that they just can't help transferring speculative *losses* (but never speculative profits) onto workingclass taxpayers via TARP etc.
Shane Mage
"All things are an equal exchange for fire and fire for all things, as goods are for gold and gold for goods."
Herakleitos of Ephesos, fr, 90