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Tuesday, June 24, 2008

Are You An Evil Speculator?

Have you ever purchased something thinking you were getting a good price on it and you thought that the price of the item would increase in the future, so you bought it at a price you believed was a good deal and you stocked up on its inventory? Well then, you were speculating.

Did you ever purchase something that was sale-priced, so you stocked up on the item? Well then, you were speculating.

Did you ever pay in advance for a commodity - say, heating oil - because you believed that by the time winter rolled around the price of heating oil would be higher than the price you would pay in late summer or early fall as winter approached? Well then, you were speculating.

In many northern states, individuals and businesses pre-pay a set fee for snow-plowing long before winter arrives. No one knows if the winter will bring large and heavy snowfalls or light ones. But if you prepaid for snow-plowing and snow-removal, well then, you were speculating.

Did you pre-qualify for a home mortgage at what you thought was a good rate before you purchased a home? Did you do this because you suspected that mortgage rates would increase, so you locked into a good rate? Well then, you were speculating.

So does anyone - especially all the speculator-bashers - want to take a stab at justifying why it's acceptable to speculate on your special and personal interest, but it's somehow unacceptable when a business tries to protect its costs by speculating?


Anyone buying into all the energy ETF's, ag ETF's, or any ETF is a speculator. Doesn't matter if you do it for a daytrade or for your retirement account. Republicans who speculate are evil Bushies. DemocRATS who speculate are god like heros of the common idiot. Ask Dodd how it works. He'll tell you.
Hey, Dodd! Great example! Thanks for bring him up! Among so many other things, he being "Mister I didn't know I was getting any special VIP favors in my mortgage." What a fucking piece of shit.
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