Wednesday, July 12, 2006

more than just gouging

Nieman Watchdog
They say that a large part of the increased prices is due to oil speculation rather than supply and demand or even gouging. I dont know enough about economics for this stuff so ill just say this. If nothing else Enron showed us what speculation (and deregulation) can do to prices. Once again Im not sure exactly how seculation works but Im getting the impression that its not a good idea, unless your a speculator, then it probably means a lot of money...

P.S. If this is true then its a rather critical story that needs to be in the public eye, why has this not been talked about more? why is this not in the media.. oh GE is probably one of the speculators... we really are fucked.

Ok I had only read the first paragraph when I wrote this ( i do this sometime when I basicly just want to save the article to read later) and as I read I find out that it is a case of deregulated speculation, which is pretty close to what I had said. I gotta say, while it sounds like the excessive speculation can drive up prices (as it is currently) there is also the point that if I had money to throw at the stockmarket I think I would want to buy into oil, because its my bet that while prices are bad now, they are probably going to go up. From a capitalists point of view it looks like a great investment, sure it might be killing our economy but as capitalist the nation is not my concern, my worries are those or me, myself, and I, and if screwing everyone puts a few (or a lot) more dollars in my pocket then fuck 'em this is america and its my right to ruin this country as long as I can make money.

And thats why im not a capitalist.

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