“A hair trigger away from economic calamity”

The great economist John Maynard Keynes once wrote:

Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation. When the capital development of a country becomes a by-product of the activities of a casino, the job is likely to be ill-done.

It seems paradoxical that while government is more intrusive than ever before into the lives of ordinary citizens, it gives free rein to powerful institutions and wealthy speculators to put the economy at risk.

Bart Chilton, commissioner of the Commodities Futures Trading Commission, gave interviews to The Real News Network describing how speculators and “dark markets” put the economy at risk, and drive up the prices of food and fuel.

The first interview in the series is above and the others are below.

Chilton was appointed commissioner by President George W. Bush in 2007 and reappointed by President Barack Obama in 2009.

Click on Bart Chilton wiki for Chilton’s Wikipedia biography.

The Real News Network is a not-for-profit on-line TV network, launched in 2007 by Paul Jay.

It doesn’t accept advertising, and is supported by donations.

Click on The Real News Network for its home page.

Click on Real News wiki for a Wikipedia article on the network.

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