Mike Martin has a piece on speculation at Huffington Post today arguing that the movement of oil prices is just the result of supply and demand and that speculators are taking the rap unfairly.
Read the Article at HuffingtonPost
This was my comment:
Good piece.. We all speculate, to different degrees, and over different time frames. Some of us do it consciously, others do it more unconsciously.
I think it’s fair to say that speculation in certain things – food and land, for starters – has social consequences we shouldn’t brush aside. But as long as money is not being priced correctly (the interest rate is held artificially low), people have an incentive to get a better return.
The underlying problem is created by the government….
How could one survive, indeed how could “society” survive without speculation? The Orwellian demonetization of the word is foolish at best, and evil at worst.