Manipulation is the Real Issue
There’s an article in Tuesday’s edition of The Wall Street Journal that announces that Traders Blamed for Oil Spike.
It highlights more of the speculation-is-bad commentary that’s been in vogue since at least the Spring of 2008. In fact, we recall hunting for and posting the following John Maynard Keynes quote during that time:
“Speculators may do no harm as bubbles on a steady stream of enterprise. But the position is serious when enterprise becomes the bubble on a whirlpool of speculation.… Read the rest

















































