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View Diary: The end of austerity kabuki, and how to turn a victory into a rout (196 comments)

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  •  Could a restriction on speculators, (1+ / 0-)
    Recommended by:
    Reepicheep

    in regards to petroleum, be done by executive order? I've heard the price at the pump could go down as much as 1.50 if Wall Street wasn't allowed to buy oil if they didn't take physical possession of it.

    •  I don't think so, but not sure how much an effect (2+ / 0-)
      Recommended by:
      agoldnyc, MBramble

      that would have.  Oil is a global commodity, and the US share of the market buys shrinks daily.

      LG: You know what? You got spunk. MR: Well, Yes... LG: I hate spunk!

      by dinotrac on Sat Oct 19, 2013 at 10:05:51 AM PDT

      [ Parent ]

    •  The commodities (4+ / 0-)

      deregulation signed in by Clinton was a mistake.  They used the old "markets are in the 21st century, shouldn't have 20th century laws" bit to justify it.  Doing that added a massive amount of money in the commodities exchange, and it caused prices to go wonky.

      The entire point of the New Deal legislation that strictly regulated commodities, was to prevent speculation. Speculation is bad for everybody but the speculator.  We need to repeal the law that made speculation legal.

      "YOPP!" --Horton Hears a Who

      by Reepicheep on Sat Oct 19, 2013 at 11:56:13 AM PDT

      [ Parent ]

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