Millions of families across North America are experiencing severe food shortages as irregularities within the corn futures market disrupted the global food supply chain this week. According to reports, users on the forum r/WallStreetBets organized a “short squeeze” after one commenter noticed that short interest in July corn futures was unusually high.
Other users, mostly amateur day traders, began buying up corn futures at a rapid pace. This caused a massive spike in corn prices across all markets, leaving food manufacturers scrambling. Many were unable to secure enough corn to produce cereal, bread, tortillas, and artificial sweeteners found in thousands of foods and drinks.
While many blame the reckless greed for causing a national crisis, many have applauded the Reddit users for standing up to corrupt market makers and hedge funds.
“Yes, people might starve, but one guy made a 300% profit in two hours. That’s just amazing!” said one Twitter user. “I think these huge profits can serve as reminder to all that the American Dream is alive and well.”
When a Reddit user who participated in the trades was asked how he felt about the negative consequences, he replied, “A bunch of people might die? Wait, I should go research some casket manufacturer stocks.”