Did you really have to specifically blame the middle class for the price increase? Though you are spot on with biofuels increasing price...for corn. If the government would get out of bed with agricorp and subsidize healthy foods instead, we might be able to reduce the overall consumption of meat and free up livestock grain. And maybe take a chunk out of our healthcare expenses over the long run as well.

Much is this is PR spin under the conclusion first, research second, facts last model typical of self-interested parties. But it does secure your exorbitant Goldman Sachs salary and annual bonus. So foie gras for dinner tonight? Or maybe some free range venison?

Back in the 90's whenever Wall street wanted some deregulation passed by Congress, the talking point that its flaks always used was something like, this additional money will allow us to create more jobs. Now we all know that most of those jobs were created in China and India.
The moral here is that if a Wall street brokers lips are moving, he's lying.

FATALITY

Sorry I just got done playing Mortal Kombat. And even someone as young as me can see right through to the issue here- Van Praag's utterly pathetic attempt to get GSach's out of the firing range with and OECD study is like Kobe Bryant citing a Lakers fan as proof he's a great player (more international example- like Messi citing a Barcelona FC fan). Moreover, it doesnt get to the heart of the issue. The index isnt the only reason food prices are going up- noone is stating that. But the index does play a factor; no one can argue against that. If it didnt, it wouldn't be a very effective financial instrument.

If GS would like to help farmers, they should contact a man named Paul Polak. otherwise they should shut up.

More than the middle class, I blame the environmental movement, or at least its radical fringe. Stressing the need for 'organic' and 'sustainable' foods (neither of which terms actually mean what they say) and bio-fuels (that result in as much or more pollution/ greenhouse gas production as normal fuels throughout their production cycle) has caused a large part of the upcoming crisis.

Mr Lucas,

I certainly would like to content that you are one heck of a PR person in coming up with this intellectually insulting stance on your firms role within the commodities bubble we are currently facing. You see sir, back in 2006 I was first introduced to the advanced world of commodities trading. I went through all the ropes and ran all the equations for the pricing of contracts and how those pricing algorithms determined the overall commodities on a given day. These courses were by far the most challenging one could embark on in a business degree, and as such are skipped by most not looking for answers as to how the markets work. In writing you're crock above you not only 1. Assumed you could posed as main street, but 2. Could trick mainstreet into believing that what you're doing is quite simple. In effect your firm is back to playing God in a world which never needed one. You have taken a market which produced fairly consistent and accurate pricing and changed it into a market rampent with invisible demand which you compare to home owners insurance. In running with this philosophy i simply have 1 question..... What would happen if every single person in the world could order multiple vehicles according to a sellers contract, but never actually take ownership of the title of that car? What would happen to the price of that car? I am well aware of the complexities and short comings of that statement, but since you insulted my intellegence first I'd like to hear your response, because for starters sir, quit playing dumb and acting like no one understands your marketplace. To those of us who have played on your field it's obvious what your firm is supporting.

Kind Regards,

Francois