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View Diary: Indymac Bancorp trading halted (mortgage disaster) (59 comments)

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  •  And if the speculators are stopped, and oil drops (2+ / 0-)
    Recommended by:
    aztecraingod, Stranded Wind

    you would put the pensioners at risk?  I thought pension fund managers are supposed to be conservative.

    We Changed The Course! Now we must hold their feet to the fire.

    by hcc in VA on Mon Jul 07, 2008 at 02:17:26 PM PDT

    [ Parent ]

    •  oil speculators is a canard (9+ / 0-)

      The oil speculators meme has been completely, totally, utterly debunked. No one is accumulating stocks of oil and the futures prices match the spot prices pretty much in lock step. There is inflation happening in commodities as the smart money flees the synthetic financial instruments, but that is not speculation.

      •  Thanks for This (1+ / 0-)
        Recommended by:
        Stranded Wind

        I felt like the lone voice in the Wilderness until now.

        Finger-pointing at old enemies is so easy.  Educating one's self is so hard.

        They burn our children in their wars and grow rich beyond the dreams of avarice.

        by Limelite on Mon Jul 07, 2008 at 02:26:01 PM PDT

        [ Parent ]

      •  I'm sure you said the same for Enron, no? n/t (1+ / 0-)
        Recommended by:

        We Changed The Course! Now we must hold their feet to the fire.

        by hcc in VA on Mon Jul 07, 2008 at 02:31:46 PM PDT

        [ Parent ]

      •  The old flight to quality (2+ / 0-)
        Recommended by:
        Creosote, Stranded Wind

        Now that they have screwed up they move the money again. Same as 1991.

        •  yup, commodities still sell (3+ / 0-)
          Recommended by:
          Odysseus, Creosote, marketgeek

          A whole lot of synthetic crap is coming apart but things that one can actually take delivery of will hold their value - food, fuel, precious metals with some caveats.

          This is why the speculation thing is dead - the money moving into those areas won't have anywhere else to go, as the make believe bankerworld we've let metastasize for the last two decades comes apart.

      •  What's the deal with the sudden plunge (0+ / 0-)

        of over ten dollars in oil prices this week? Is it hopes that dumping of oil futures will engineer some sort of short-term small-scale drop to resuscitate the Republicans fortunes and the happy motoring paradigm for a few short months to give the current political elite and particularly the Republicans a fighting chance to win in November and squeeze out another year or two of status quo, do nothingism.

        "Without our playstations, we are a third world nation"-Ani DiFranco

        by NoMoreLies on Tue Jul 08, 2008 at 10:33:22 AM PDT

        [ Parent ]

    •  gasoline prices are finally (6+ / 0-)

      back where they ought to be, after too long of a "price holiday".  Back in the '60s hamburger was thirty cents a pound, and gas was thirty cents a gallon.  At the local super last week "lean ground beef" was $4.99/lb., on sale.  I could walk you through the store pointing out similar ratios.

      Gas is not overpriced . . . the Dollar is worthless.

      Thank who you will for that . . .

      •  Doesn't matter much (1+ / 0-)
        Recommended by:
        Stranded Wind

        its the balance of payments and purchasing power that matters. The $1.60/hr minimum wage in 1968 could buy 5.33 gallons of gasoline per hour worked. Similarly, 5.33 lbs (roughly) of lean ground beef. Now, 1 hour at the $5.85/hour Federal minimum wage buys about 1.4 lbs of beef or 1.45 gallons of gasoline (at 4.12/gallon national average). Even the 7.00/hour wage at full phase in of the current minimum wage boost buys less than 2 gallons of gasoline, and that is assuming the price of gasoline does not continue to go up. The lower 90% of Americans have been screwed, blued and tatooed over the last 30 years of neoliberal economic policies. The last hurrah was the cheap credit era, just now ended, a tactic to wallpaper over wage deflation without forcing companies to actually compensate their employees fairly.

        "Without our playstations, we are a third world nation"-Ani DiFranco

        by NoMoreLies on Tue Jul 08, 2008 at 10:39:45 AM PDT

        [ Parent ]

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