Obama administration trying to increase the instability of commodity market prices
How can these guys not understand that speculators make money by smoothing out swings in the market? The BBC has this:
A US regulator is to hold hearings to decide whether it should clamp down on speculation in the energy market.
The Commodity Futures Trading Commission (CFTC) imposes limits on trading positions in agricultural commodities but not on oil or gas. . . . .
The hearings are being seen as part of the Obama administration's attempts to stabilise financial markets.
They will take place in July and August. . . . .
Labels: Economics
posted by John Lott at 12:21 AM
2 Comments:
The left believes whole-heartedly that the speculators create the instability of the market prices.
How convenient that they're going to hold the hearings during the middle of the summer when demand for (and hence price of) gasoline is higher...
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