Comment Text:
Please take the actions needed to curtail speculation in the commodities market before we see the same crash we saw caused by speculators in the housing market.
In 2004 I retired and plan to move back to Tampa Florida my birthplace and my home until my company transferred to the Northeast and then the Midwest. I happen to see a for sale sign in one of my neighbor’s yards and asked them where they were moving, they said Florida. I said I was planning on moving back and buying a home in the Tampa Bay area and they said you’re going to be shocked we just closed on a house there saw prices there jumping by $2,000/$3,000 each month because of the flipping conducted by property speculators. We paid $350,000 for the condo we purchased in 2005 which is now valued at $180,000. Speculation ultimately killed the value of our home while most of the speculators enriched themselves of our hard earned retirement savings.
Don’t let commodities speculation continue artificially escalating the price of the everyday items that those of us on fixed incomes have to purchase every week. I not sure how much more of our savings you want to transfer to the wealthy but we can’t take much more.
W. Collins
9805 Meadow Field Circle
Tampa, Fl 33626
