Is Goldman Sachs profiting from a global food crisis?1/23/2013
Banking giant Goldman Sachs is profiting from a global food crisis, says a U.K. activist group. The World Development Movement accuses the investment firm of fuelling spikes in food prices by speculating on the markets for staples like corn, rice and wheat. But the well-meaning left-wing group may have bitten off more than it can chew. Even liberal-darling economist Paul Krugman dismisses speculation as a cause for food price inflation, saying the real culprit is global harvest failures. So unless the Goldman Sachs cafeteria is hoarding the globe’s grub, they probably have zero to do with its current food crisis. [Source]
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