I don't think the traders - not many of them - are rich either. Just like the folks who bought houses with loans they couldn't afford, the house market went up, they felt rich, now the loans blew up, the house market went down, and they agian are poor & have no house. Had a few years of glory, but are about where they were.
So too the traders.
Enron went bust, the money that soaked into it went bust with it.
Your & my retirement funds got socked into the dotcom bubble, the recient fund buying bubble, the housing bubble, and rose way up high, now sank way back low.
I think the poor, the rich, and those in between all have pretty much ridden the same wave.
Currently the govt wants us deperately to spend money. Down the road a few years they will use inflation to cure the problems 'that' will cause.
Then they will need to do something to cure inflation.
It's always a bandage game, fix up the symptoms.
The cure would be pretty painful right now. The govt won't do that - let things filter out & start new.
We likely seem to be argeeing more than disagreeing.
My only point is that we should not ban speculation of commodities. That would be a long-term bad thing for the ecconomy.
I believe the past 15 years of ecconomic bubbles were enjoyed by everyone on the way up, including your & my retirement fund, and we are just as guilty of riding along with the crooks as the crooks were????
In times like this it is easy to point a finger & blame 'someone else' for the problems, and say they need to pay the price to fix this while we are as pure as the driven snow.....
Really, it is all of us. We all let it happen, the govt set up polices that everyone knows can't work, but we all went along with it. The traders were using our money to trade with after all. Perhaps they figured out a way to skim off more for themselves, but the investment was still our money, and we let it happen too.
Anyohw, enjoy the different opinions, short messages on a forum make us all sound like shouting lunitics, and that's not my point - or yours, I appreciate your view of things and seem to agree with a lot of it. :)
I think we need to keep traders, and I think the whole bunch of us are somewhat to blame - when it comes down to it. Certainly much better regulated & watched than has been, but I think the system itself is a wise one. That's all.
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Today's Featured Article - Listening to Your Tractor - by Curtis Von Fange. Years ago there was a TV show about a talking car. Unless you are from another planet, physically or otherwise, I don’t think our internal combustion buddies will talk and tell us their problems. But, on the other hand, there is a secret language that our mechanical companions readily do speak. It is an interesting form of communication that involves all the senses of the listener. In this series we are going to investigate and learn the basic rudimentary skills of understanding this lingo.
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