What about energy-hungry tech in huge cloud data centres?
Limit that. Cap energy consumption per unit user time.
3 publicly visible posts • joined 12 Feb 2011
Kudos to who wrote this comment:
"I would contend that the losers in the "zero sum game" are thus the buyers who turn commodities into actual food. "
Since these buyers are not in it to lose money, the real losers are us all, especially the poor.
This story is flawed on so many levels. It basically ignores the fact that injecting too many traders, *all* (on the whole) making money through speculation, into a supply chain eventually results in the actual end-buyer paying much more than they should. Remember the money the traders earn *has to come from somewhere*.
The second silly part of this story is the lauding of the same overloaded market processes -- criticised in the GFC-- as necessary for people to watch what they eat!
Does the author think everyone in the world is an overweight American (or Briton)? This is food we are talking about -- there isn't much elasticity of demand - remember, we're talking wheat not caviar. The overweight people of the world will simply get cheaper ingredients in their junk food. The ones who will suffer the most are the poor and hungry of the world.The author just glossed over this.
Finally, a small quibble --what's with the comparison with DRAM markets (don't we have a glut there? is that caused by speculators too).