A spaghetti speculation scandal
While the US CFTC aim their regulatory cannons at crude oil speculators, their Italian cousins have their daggers out for “spaghetti speculators.”
Roberto Sambuco (aka “Mr. Price”), Italy’s so-called Guarantor of Price Surveillance launched a fresh investigation into manipulation of the dry spaghetti market. See:
“The price of pasta is a scandal and the result of speculation,” Bloomberg News quotes Italy’s National Farmers’ Association. Bloomberg says Italians eat an average 62 pounds of pasta each year.
Rocky has been known to “throw around his weight” in the crude oil market, but if the spaghetti scandal heats up and boils over, he’ll be forced to start watching his carbs.
He also added an Olive Oil (EVOO) / Marinara Sauce “spread” to both his Bloomberg monitor page and a loaf of Italian bread.
Lest the speculators and collusionists drive prices even higher, Rocky’s “Plan B” will be a switch from Linguine #7 to Capellini #9. Alternatively, he may purchase the Ronco Pasta Maker Kitchen Appliance. (As seen on TV.)
Is there a housing-like bubble in the spaghetti market?
No. But there’s bubbles aplenty in Rocky’s boiling pasta pot.
[Disclosure: From the Ronco Pasta Machine User Manual: “With a powerful yet quiet motor, this incredible machine also makes sausage, cookies, and small bagels.” Trophy Wife notes that Rocky’s fagottini already resembles a day-old bagel with cream cheese.]