Wednesday, April 18, 2012

Speculators! Evil, evil evil

Obama is blaming gasoline prices on "speculators" and wants to "invest" $52 million of our tax money in fighting them. Wow.
It used to be, in the United States of America, that buying stuff and selling stuff was legal. We have commodity exchanges to facilitate buying and selling of pork bellies, wheat, gold, oil, and a bunch of other stuff. Anyone can see that oil is getting scarce, and Obama is working to make it even scarcer. If you took a course in real economics in college, you know that when things get scarce, the price goes up. This ain't rocket science.
So plenty of people are buying oil , expecting the price to rise, and they to make money. That used to be legal. Still is legal far as I know. Ought to legal even if Obama doesn't like it. Freedom we call it, freedom to buy and sell as we please. Should not need a government OK to buy and sell anything, anytime.
This is also called speculation (boo hiss).
Druther have a few speculators make some money than not be able to buy any gasoline at all.

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