JoeSpareBedroom wrote:
"Vic Smith" wrote in message
news
On Sun, 11 Nov 2007 23:22:24 GMT, "JoeSpareBedroom"
wrote:

"Vic Smith" wrote in message
...
On Sun, 11 Nov 2007 23:03:22 GMT, "JoeSpareBedroom"
wrote:


If a bunch of fools bid up the price of oil to a level that's
disconnected
from the physical reality of the supply chain, you (and I mean
specifically
YOU) do NOT have to buy higher priced gasoline as a result of the
games
played by the fools.

Do you agree with that statement?

Yes.

--Vic
Then, you either work at home or have excellent mass transportation,
because
millions of people have no choice but to buy gasoline at whatever price
it's
being sold for. Unlike other products, there is no competition.

Actually, I'm retired. Or I could have said my wife or one of the
kids buy gas for me. But you did say YOU.
Why are you willing to gamble on stocks, but not willing to gamble on
oil? Do you need gas? Or paper Citibank stock certificates?
Just curious.

--Vic
You already answered your own question, Vic. One investment (stocks)
doesn't
affect you, or anyone else. I suppose you could say that if Warren Buffet
buys a ****load of a certain stock, it becomes news, the stock goes up,
and
that might help you if you also own that stock. But, you didn't have to
buy
that stock or that mutual fund in order to get to work or heat your home.

You can't say the same for oil. Gamblers fiddle with the price, and it
affects millions of people who have no choice but to buy fuel. That is why
oil is unique among investments and comparing it to stocks is stupid.

If gamblers want to play with oil, let them do it at OTB, and disconnect
it
from the industry.
You might get an argument from many, many Americans that the purchase
of stock for speculative purposes doesn't affect millions of Americans
in a negative way.
I would be one of them arguing such.
You may think that supporting companies whose only interest is the
bottom line, even if it means the exportation of American jobs and the
destruction of American industry, or the inflation of real estate
prices and escalation of personal bankruptcy is good for you because
you may make some bucks from such speculation.
And I may think it is perfectly fine to make some bucks speculating on
the price of oil.
Which buck is clean?

--Vic

No buck is clean.

As far as the millions of Americans you mentioned, just over half of them
are stupid, according to some inarguably accurate surveys done since 2002.
Their thoughts about investments are irrelevent.

Doug, you need to return to the village.