Actually I said Democrats. I believe they were in charge of the House, the Senate and the White House in 2010 were they not? But I will blame Obama specifically for the green speculation blunders. Any reason I shouldn't?

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Originally Posted by tomder55

I take it from your response that you are ok with such abuses ?

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You take from my response that the picture of a guy in a hotel room isn't damning to mean I'm OK with spending abuses? How did you infer that?

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Originally Posted by speechlesstx

Actually I said Democrats. I believe they were in charge of the House, the Senate and the White House in 2010 were they not? But I will blame Obama specifically for the green speculation blunders. Any reason I shouldn't?

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Geez Speech, some of those scandals are about long term civil servants going off the path, and we are all a bit outraged at the waste of money, but as far as the green speculations you better look deeper as I told Tom in another thread, because its not speculation, its manipulation largely by the Chinese government.

http://www.businessweek.com/news/201...e-imports.html

I mean is it too much to ask to get all the facts before you hand out the criticism??

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Originally Posted by speechlesstx

I'm not exactly sure me pointing out how government waste could be better used to fix the bridges Tal referred to is a red herring, but I'm sure you'll think of something irrelevant to say.

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If you're going to keep changing the subject please let us know. The red herring is that weird "Obama money" post. I'm pretty sure you knew that but avoided it altogether.

Speculation is agame not like baseball or football but more like a fixed boxing match. Large players can and as a rule of thumb do on every occasion possible play the speculation market to create sharp shifts in price to either sell for large profits or short for profits. In the general scheme of things this would not rise or lower prices much in the end because the speculator generally prayed on the novice and just took their money and in the end the commodity was sold at a point of or near to it's actual value. However with more and more people speculating in anything bubbles form and governments interfere to protect the investors that the real speculator saw as the rube.
The speculation market was a loan to producers with their future product to serve as collateral for a fee you could be granted the opportunity to buy a product at a given time in the future for a set price. The producer got money when they needed it the consumer of the product had their materials at a known price usually lower than the spot market price.
All the prophet going to the speculator does not get reinvested by the producer and it hurts the end user by setting a higher established price. Unregulated speculation is dangerous in that it raises prices to the end user and thus cuts demand to the producer as prices rise and people are forces to consume less of a product. A sensable approach to speculation could be to allow speculation as long as the speculator was the user of the product, say I speculated in corn and I am a distiller of corn whiskey. Another approach is to set high taxes on speculators prophets for those not using the commodity for their business in this case I speculated in corn and my business is a computer networking company so I would be forced to pay all gains above a certain point in taxes. Theses systems would preserve the needed benefits of speculation.
Without drastic reforms in our speculative capital system we are in for a real disaster in the near future