Gas Fantasy land

Races for the Senate, U.S. House, etc. and other issues of national importance.
Crockett
Forum God/Goddess
Posts: 1206
Joined: Fri Jul 24, 2009 9:37 am

Re: Gas Fantasy land

Postby Crockett » Tue Feb 21, 2012 3:11 pm

fisticuffs wrote:
I disagree, the speculators are doing the tricky work of price discovery, and they are doing it with their own necks on the line.


At what price? 40% of what I pay at the pump? Find a new system.


Speculators are the boogeymen. The Fed is devaluing the US$ to stoke inflation to monetize govt debt while bailing out the zombie banks. Rising gas prices are collateral damage.

Get used to inflation, you're about to see much more of it. Its the only way out. You can thank your local Bank of America executive and those Wall St guys who are making more and more money while we CONTINUE to bail them out.

Don't fall for politicians blaming the boogeyman.

Stebben84
Forum God/Goddess
Posts: 5986
Joined: Thu Mar 02, 2006 12:59 pm
Contact:

Re: Gas Fantasy land

Postby Stebben84 » Tue Feb 21, 2012 3:21 pm

Crockett wrote:on't fall for politicians blaming the boogeyman.


I guess the fact that speculation can often cause an economic bubble, and when that bubble bursts we can fall into a hard recession or depression(cough, housing market). The speculators are not doing this as a benevolent act towards society. They are doing this solely to make a profit. They are the ultimate in gamblers. The only difference is when enough of them fuck up about certain commodities, we all get screwed.

Crockett
Forum God/Goddess
Posts: 1206
Joined: Fri Jul 24, 2009 9:37 am

Re: Gas Fantasy land

Postby Crockett » Tue Feb 21, 2012 3:28 pm

Stebben84 wrote:
Crockett wrote:on't fall for politicians blaming the boogeyman.


I guess the fact that speculation can often cause an economic bubble, and when that bubble bursts we can fall into a hard recession or depression(cough, housing market). The speculators are not doing this as a benevolent act towards society. They are doing this solely to make a profit. They are the ultimate in gamblers. The only difference is when enough of them fuck up about certain commodities, we all get screwed.


And why are they all speculating in inflation-sensitive commodities right now?

ArturoBandini
Forum God/Goddess
Posts: 2256
Joined: Sun Jan 27, 2008 11:54 pm
Location: near west

Re: Gas Fantasy land

Postby ArturoBandini » Tue Feb 21, 2012 3:29 pm

pjbogart wrote:
ArturoBandini wrote:I disagree, the speculators are doing the tricky work of price discovery, and they are doing it with their own necks on the line.

Ok, now say that again, this time without laughing hysterically.
I wasn't kidding. If you think that making money on oil speculation is like shooting fish in a barrel, then I urge you to try it. If there is so much money being made here for little-to-no work, then someone smart like you should be able to get a piece of the pie.

ArturoBandini
Forum God/Goddess
Posts: 2256
Joined: Sun Jan 27, 2008 11:54 pm
Location: near west

Re: Gas Fantasy land

Postby ArturoBandini » Tue Feb 21, 2012 3:38 pm

fisticuffs wrote:
I disagree, the speculators are doing the tricky work of price discovery, and they are doing it with their own necks on the line.

At what price? 40% of what I pay at the pump? Find a new system.
Where do you get the 40% figure? From my perspective, it is hard to say what fraction of gas prices are due to speculation. I would argue that the price of gas not as much "driven up" by speculators, but rather it is driven toward the socially-optimal market valuation.

pjbogart
Forum God/Goddess
Posts: 6558
Joined: Thu Sep 04, 2003 4:57 pm

Re: Gas Fantasy land

Postby pjbogart » Tue Feb 21, 2012 3:51 pm

On a side note, what's with the right-wing's recent fascination with Zero Hedge? Voodoo economics carefully crafted (sans the usual spelling and grammar errors) by an anonymous guy who names himself after Brad Pitt's character in Fight Club? That's your authority on economics? Perhaps you should ask a firebreathing Truckasaurus if he has anything to add.

Crockett
Forum God/Goddess
Posts: 1206
Joined: Fri Jul 24, 2009 9:37 am

Re: Gas Fantasy land

Postby Crockett » Tue Feb 21, 2012 3:53 pm

pjbogart wrote:On a side note, what's with the right-wing's recent fascination with Zero Hedge?


Ha, that site is FAR from right wing...but that's fine, make sure you color within the little boxes you've been given...

rabble
Forum God/Goddess
Posts: 7676
Joined: Tue Jun 10, 2008 7:50 pm

Re: Gas Fantasy land

Postby rabble » Tue Feb 21, 2012 4:41 pm

Crockett wrote:
pjbogart wrote:On a side note, what's with the right-wing's recent fascination with Zero Hedge?


Ha, that site is FAR from right wing...but that's fine, make sure you color within the little boxes you've been given...

Ha, he didn't say the site was right wing, he said the right was obsessed with it. Are they? The two concepts are far from identical. But that's fine. Continue to stay within your own little boxes.

Oh, and dot dot dot.

On a slightly different note, the tyler durden identity is actually a group of people writing under that pseudonym. Or so says its wiki page.

Crockett
Forum God/Goddess
Posts: 1206
Joined: Fri Jul 24, 2009 9:37 am

Re: Gas Fantasy land

Postby Crockett » Tue Feb 21, 2012 5:00 pm

rabble wrote:Ha, he didn't say the site was right wing, he said the right was obsessed with it. Are they? The two concepts are far from identical. But that's fine. Continue to stay within your own little boxes.


He also called the site's content 'voodoo economics' which is synonymous in most circles with right-wing philosophy. He attacked the quality of the economics within the site solely because the right-wing has begun to cite it.

Anyway, begone, back to your trolling for semantical arguments.

ArturoBandini
Forum God/Goddess
Posts: 2256
Joined: Sun Jan 27, 2008 11:54 pm
Location: near west

Re: Gas Fantasy land

Postby ArturoBandini » Tue Feb 21, 2012 5:11 pm

Well, I liked the firebreathing Truckasaurus thing in any case.


Return to “National Politics & Government”

Who is online

Users browsing this forum: Yahoo [Bot] and 3 guests