Tell us genius... WHAT level of speculation is 'too much'?
You are friggin insane if you think people are going to stop looking at 'what can happen' or 'what should happen'. Only an idiot would look at past performance and say 'that is good enough for me'.
Here, my Super Freak-ing Dunce....learn something from a farmer, who says it better than I:
Speculation is good when the speculator trades with someone in the real economy and therefore bears real economic risk. Speculation is bad when the market is dominated by speculators trading with each other and, as they become a tiny fraction of the contracts traded, contracts bearing real economic risk stop determining prices. Futures markets are successful only if the amount and nature of speculation is careful monitored to ensure that “enterprise [does not become] the bubble on a whirlpool of speculation” and “the capital development of the country [does not become] a by-product of the activities of a casino.”
http://syntheticassets.wordpress.com/2010/08/11/good-speculation-vs-bad-speculation/
Well toodles, for the last 30 years the "speculation" has done a lousy job for the vast majority of average wage earning consumers at the gas pump, the grocery store, etc.
You demonstrate my point quite well. You are a fucking moron.
Oil prices were well below $20/brl for the bulk of the 1990's. It got down UNDER $10 in 1999. Tell us moron.... how did that hurt consumers? For the 1980's it was well below $25 for the bulk of the decade.
We kept oil artificially low for decades. how did that hurt the 'average wage earning consumer'????
Artificially low for decades.....how old are you? Were you drunk during the 1970's and 1980's, or do you just don't want to deal with that? Do some honest research as to the Oil crisis in the 1970's, or the Oil Glut in 1982....or are you that Super Freak-ing in denial of what speculation can do in combination with other factors. Oh and in case you don't understand what's going on currently:
http://www.nytimes.com/2009/07/08/business/08cftc.html?_r=1&hp
Speculation created the false price gouging and barrel price inflation in the first place...you Super Freak-ing Dunce! So people are suppose to be giddy and grateful that speculation falsely pushes up the price, then lowers itself slightly while in the end leaving the gas pump price a little higher than before? Jeez, you are one Super Freak-ing ass kisser for the corporate/neocon causes, aren't ya bunky?
Yes, speculation can indeed get out of control... both to the upside AND to the downside (the point you continue to ignore). It typically happens when there is great uncertainty.
I didn't ignore anything, you Super Freak-ing liar. I stated plainly that speculation falsely pushes up prices, then lowers itself slightly while in the end leaving the gas pump price a little higher than before. The only real up side is for the oil companies...the consumer is just getting screwed a LITTLE less.
The prime example is 2008. Oil was jacked up to $148/brl on supply shortage speculation. Then the financial market collapsed and oil plunged under $35 brl.
Again, you bitch and moan when it goes up to the $148, then you pretend that the move back down to $35 is 'lowering itself slightly'. That is a massive move to the downside you moron.
So the greed and avarice of Wall St. and international Banks caused a meltdown that lowered prices, and Super Freak-ing dopes like YOU say that's a good thing? WTF is the matter with you? Had the financial collapse on the Shrub's watch NOT happened, we'd be more or less just as screwed as we are now...or have you not seen the papers regarding gas prices and the job market? Uncontrolled speculation is STILL screwing us over, but Super Freak-ing toadies like you just bend over and smile, because hey, the ideology is everything to POS like you.
This has ZERO to do with corporations you idiot.
