I personally think they should wait until Bush is out of office b/c I'm sure we all haven't forgotten what happened to good 'ole "Scooter".

Posted at July 30, 2008 11:44 AM in response to In Contempt Vote on Karl Rove, the Ayes Have It

I happen to trade oil and I absolutely believe that speculation increases prices. With any traded security there is "smart money" and "dumb money". A problem occurs when there is more "dumb money" trading a commodity than "smart money". They will either over buy or over sell based on principles not truly rooted in the factors that affect the pricing of the commodity.

At the end of the day it just creates another bubble. I believe that a stock bubble is fine, sure people lose money but they knew what they were getting into. A commodities bubble is very bad because people who are not trading the product are affected. So basically every dollar I make trading oil is at the expense of the average joe. Every dollar I make trading stocks is at the expense of other people trading stocks.

My co-workers (derivatives trades), btw, don't believe speculators are responsible for the rise in oil prices but methinks they're a little biased.

I can go into more detail of why we are in a commodities bubble if need be it's quite a long story. :)

Posted at July 30, 2008 9:30 AM in response to New Obama Response Ad Uses Same Tactics That Worked Against Hillary