"JoeSpareBedroom" wrote in message
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"Wayne.B" wrote in message
news On Fri, 21 Jul 2006 11:39:59 GMT, "JoeSpareBedroom"
wrote:

So, a bunch of
suits are playing games and sending a ripple effect throughout the
economy.

Time for the law to change.

Ahhhh yes, government price controls. Great idea, have you ever seen
it in action? You wouldn't be able to buy oil at any price because
everyone would be on allocation, and another giant federal
bureauacracy would spring up to (mis)manage the whole mess.

If you think commodities are such an easy get-rich-quick scheme, why
not put on your own "suit" and throw some money in the ring. A quick
call or two to your broker and you can be a master of the universe
also.


I'm not talking about price controls. I'm talking about eliminating
the trading of one particular commodity for "sport", by people who are
in no way connected to the business. You know as well as I do that the
majority of the price jumps have been "on concerns about" things in
places like Iraq which, in your wildest dreams, could not have
materially affected oil production in any way, shape or form. The
concept is as stupid as private investors selling all their mutual
funds because Home Depot reports bad earnings for the last quarter.


Ah, but if problems in Iraq expand to other oil producing countries in
the region, there could be a "real" problem in the oil supply pipeline.

That's "if". In the past, they have not. Here's a question: What are
your 3 favorite main courses for dinner?

The past does not always indicate the future.

"If" Bush 43 hadn't been elected. "If" Gore HAD been elected. "If Kerry
HAD been elected.

Chicken, Fish, and Pizza....

Chicken - perfect! Hypothetical headline on the radio news as you're
driving home tonight:

"The price of chicken jumped 4% today. Our reporter covering the Chicago
Board of Exchange explained that speculators are worried about new reports
indicating bird flu was found for the first time in Greenland"

This continues, and a year from now, whole Perdue roasting chickens are
selling for $32.99 per pound, with no end in sight.

See...certain industries and professions think they're entitled to special
treatment. Doctors don't like it when patients are called customers. Oil
companies think they're special and should be insulated more than other
businesses from the vagaries of raw material costs.

I don't buy Perdue, the yellow color turns me off 80.