Lieberman Discusses Commodity Boom

Naturally, I dislike Joe Lieberman. However, this was a good interview.

In it, he and Sue Herrera discuss the commodity rise and ways in which speculation in commodities may have led to an undue increase in their prices.

Lieberman contends that "it's not just supply and demand" driving the commodities markets anymore, but instead "financial speculators are the largest single factor on the increase in commodity prices." He says many have simply been "buying commodities as a hedge on dollar weakness" and that Congress is considering "prohibiting pension funds from index speculation in the commodity markets" altogether.

Still, oil is up near $130 today, so I guess the commodity markets don't give a shit what Joe Lieberman has to say...