brotherpeacemaker

It's about our community and our spirituality!

Speculators

A lot of people believe speculation is driving the price of oil to exorbitant amounts. With the housing bubble popping like a birthday balloon after speculators wreaked havoc and inflated home prices exorbitantly and the credit marking shrinking like a cashmere sweater washed and dried on the hottest setting in the Maytag, many speculators in control of large sums of money to invest are looking for something that will maximize their returns. Hey! It’s perfectly reasonable. Oil is something that’s getting more and more precious each and every single day! With so many investments petering out why not buy oil at a reasonable price and jack it up in the future’s market for all people think its worth?

For all of us who never thought about it, financial speculation is a fundamental part of capitalism. Buy low and sell high. The vast majority of people in America are looking for each and every advantage over their neighbor. Most people believe that it is their god given right to make a dollar by screwing everybody else on the planet. Didn’t Mahatma Gandhi become the icon of India because somebody in Britain wanted to make money for the government by taxing India’s salt, a staple for the vast majority of people and a rather plentiful commodity? Somebody was actually thinking, screw’em, if they want salt they gotta pay!

In a free market, people will look for any advantage to gain wealth as quickly as possible, as exclusively as possible. Everybody is looking for some kind of handout. Billionaires in mansions big enough to have their own zip codes will stay up at night doing their best to figure out ways to develop business ventures that would take a homeless man’s last nickel. Don’t look now but somebody is out there trying to figure out a way to pass a cardboard box tax. Get ready to pay up homeless man! It is saddening to see that the chief motivating factor of human nature these days is insatiable personal greed.

Somebody has figured out that investing in oil is permission to virtually print money. The funny part is that many of these people who are speculating in oil are using our own money as a weapon against us. Many of the investment funds that hold our 401k savings, Individual Retirement Accounts, money markets and other financial instruments that are above my understanding are taking our individual pools of money, lumping them into a giant tsunami of wealth to speculate in the oil futures, and are now drowning us in four dollar plus oil when just two years ago we were paying less than two bucks.

Speculators who invest other people’s hard earned money are ruthless. They insist that companies screw people for every cent their worth. Case in sad point, when Exxon/Mobile only made twelve billion dollars the quarter after it made eleven billion dollars, its investment rating was downgraded a bit because investors were expecting fifteen billion dollars. Investors are fueling Exxon/Mobile and the other petrochemical giants to make as much money as they can at the expense of the public’s welfare. Investors are speculating that they can inspire the oil companies to make as much money as possible if they want to keep growing their already considerable stock prices. More, more, more!

Speculation has driven up the cost of healthcare. Healthcare is one of the most precious commodities these days. Healthcare is almost more valuable than oil. Most countries have instituted a universal healthcare system that has eliminated the chance that insurance companies can make considerable profits on denying people adequate medical care. But here in America there are so many people willing to defend insurance companies’ right to make a dollar by denying medical care. Profits are down? Just say no! Instead of using healthcare premiums to hire doctors to provide more services to more people most companies hire lawyers to cover their legal exposure when they deny coverage. We are willing to allow people to make money at the risk of someone else’s life. Now that is nothing but the most despicable form of financial speculation at its finest.

American speculators are willing to tolerate people losing their lives and suffering immense financial losses because of the high cost of medical care. But when gas goes up to four dollars a gallon then we need to get some answers from the oil company executives and get our politicians involved so we get to the bottom of things. Even the American people have standards as to how far we’re willing to let things go. We have seen the speculators, and they are us.

As a people, we are willing to let speculators run amok and do whatever. For years we have allowed greed to turn other people’s lives upside down and even snuff them out without the slightest peep of dissent. Many of us are willing to let speculators turn our worlds upside down because if the situation was reversed we probably would not hesitate to take every advantage to make money at the expense of even our poorest neighbors. God bless capitalism!

Friday, June 27, 2008 Posted by | Economy, Life, Oil, The Economy, Thoughts, Universal Healthcare | 4 Comments