If fundamentals mean nothing and the rules are brokenÂ… then what you're really saying is we just have one big casinoÂ…
Ah, no, I'm not saying that. This looks to me like a classic economic bubble, that's all.
No
rules have to be broken for that to happen.
why build a real business anymoreÂ… and aside from all those congressmen et al out for the gravyÂ…who are the big players?Â… are the motives solely greed or has the game become more dangerous?
It's waaaay more complex than that.
Usually the markets serve the public well. SOMETIMES, and I think the price in oil is one of these, the market becomes a casino.
You are familiar with the concept of
the tragedy of the commons?
I suspect that is what is going on right now with this oil bubble.
If the movers and shakers are deliberately playing games with our real estate marketÂ….our oil marketÂ…. our food marketÂ….one market after another...creating high costs where no shortages actually existÂ…..what happens after they've fleeced everyone...if not depression?
You have to understand that
no conspiracy is needed for a bubble to take place, right?
While each indisvidual investor is merely doing what is right for them, and they cannot be faulted for doing what they think is in their personal interests,
the collective outcome of many people doing what is right for them, can have terrible consequences on the society as whole.
(Â…and perhaps a whole new world orderÂ…)
More than an old world order, actually.
One where there is a rather small elite which has most of the power and control over resources; one where there is practically no middle class, and a huge class of people who are virtually peasants.
Yes, that is the inevitably outcome of a long period where income distributions highly inequitable.
Are we moving in that direction right now?
Looks to me like we are.
That is precisely why the American middle class is having a hard time.
Their real incomes are dropping in comparison to the elite incomes.