Are Prices "Engines of Chaos"?
Deconstructed
The Intercept
4.8 • 4.7K Ratings
🗓️ 18 March 2022
⏱️ 54 minutes
🧾️ Download transcript
Summary
In standard economic theory, prices are simply expressions of information about the scarcity of (and demand for) goods. But in his new book “Price Wars: How the Commodities Markets Made Our Chaotic World,” writer and filmmaker Rupert Russell argues that the modern era of algorithm-driven speculation has normalized unpredictable price swings in commodity markets and turned prices into “engines of chaos.” Russell joins Ryan Grim to discuss.
https://join.theintercept.com/donate/now
Hosted on Acast. See acast.com/privacy for more information.
Transcript
Click on a timestamp to play from that location
| 0:00.0 | This week in Washington, War Fever fully took hold. At briefings this week, members of |
| 0:09.0 | the White House press corps took turns trying to find new ways to push the U.S. into direct |
| 0:13.8 | military conflict with Russia. |
| 0:15.8 | So, once again, other Ukrainian officials have made so clear that what they believe they |
| 0:21.1 | need the most is more warplanes and fighter jets. So why is the U.S. believe they know better |
| 0:27.5 | what Ukraine means than what Ukrainian officials are saying they need the most? |
| 0:31.8 | It sounds like we're pretty dug in on our position when it comes to the no-fly zone, when |
| 0:36.6 | it comes to the MIGs, to put it bluntly as Lensky wasting his time tomorrow. |
| 0:42.2 | On the aircraft specifically, the Pentagon said last week that Secretary Austin said they |
| 0:46.6 | do not support the transfer of additional fighter aircraft at this time. Is that still |
| 0:51.9 | the United States' position? |
| 0:53.8 | Did a strike in Poland on supplies or anything really automatically met with a military |
| 1:00.5 | forceful response, which is the conversation amongst allies about how to respond? |
| 1:04.5 | There are reports that a Russian drone made its way into Polish airspace before going back |
| 1:10.8 | to Ukraine and being shot down. |
| 1:12.7 | Does a drone into Poland count? |
| 1:16.2 | Is the President showing enough strength against Putin? |
| 1:18.8 | Putin wore to use chemical weapons. Would it change the President's thinking when it |
| 1:23.2 | comes to these MIGs taking the no-fly zone on the table? |
| 1:26.1 | But if we stand as if you prepared, can you give us any more details about what that threat |
| 1:30.3 | means of severe consequences? The President obviously made the same threat last week. Is |
| 1:34.8 | that purely economic consequences? Or would there potentially be a military cut? |
... |
Please login to see the full transcript.
Disclaimer: The podcast and artwork embedded on this page are from The Intercept, and are the property of its owner and not affiliated with or endorsed by Tapesearch.
Generated transcripts are the property of The Intercept and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.
Copyright © Tapesearch 2026.

