Thursday, February 24, 2011

What a crock of bologna


Gas prices are at around $3.30 here and climbing but from what I'm hearing demand is down and supplies are rising. That seems to contradict the laws of supply and demand. But oh I forgot about the speculators who just can't resist messing with the market to make a buck. And we've seen their handy work in everything from beef cattle to toilet paper over the years. The original function of the futures market was to provide protection to farmers in the event of a bad season but now it's a different story. What was once an insurance for farmers has now become a casino game of hot potato. Buy and hold a contract until the very last minute then dump it and make huge profits and don't worry if the price goes down because you can always buy a hedge against that happening and you don't even need to pay for that hedge up front. Pretty slick game if you know how to play it. Sorry but I have to many scruples for that casino.

Sorry if posting is light I'm working 8 hrs and doing a 4 hr recert. Plus I'm a bit out of shape so these 13 hour days are killing me. Got to factor in at least an hour for travel you know.

5 comments:

Randal Graves said...

Muh muh muh my bologna woo!

I wonder if Comic Sans' Casino will sell fried bologna sandwiches, those sonsofbitches are tasty.

an average patriot said...

This is the rich man's world we are just a minor inconvenience. It is sad to watch the dire future develop for us and the world but oh well. Good luck with all that and go slow!

S.W. Anderson said...

Moammar Ghadafi — the speculators' best friend right now. Never fear, when he can no longer serve as an excuse, they'll find another one soon enough.

Supply and demand? That would require a market where actual competition takes place. Competition is something most big corporations use as a talking point. What they do is everything they can manage to avoid having to compete.

BBC said...

Those playing the markets and doing well don't give a shit cuz they can afford gas for their Hummers and BMW's.

I got a little rest the last few days so it's back to work tomorrow, and with the camper out there I don't have to drive back and forth.

Bustednuckles said...

WTF?

I seem to have missed this "working" thing.

Good on ya.

I have a gig brewing too, I went clear to Eugene from The Dalles to do a little something last week, looks like it may turn into something.
Turned in my app for extended benefits the other day, the timing couldn't be more perfect.

Good luck Bud.