Two months ago I predicted that oil prices would eventually drop. It turns out I was right... for the wrong reason.
I thought that a recession in the U.S. economy would be the cause of slowing demand and falling oil prices.
It turns out that a speculative rise in prices was cut short by speculation that prices wouldn't rise any more.
Another bubble bites the dust.
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Everyone touts the benefits of a free market without truly understanding the consequences of what they endorse.
They emphasise the positives without weighing them with all the possible negatives.
Quite often negatives are not actually seen as negatives.
Bubbles in stock prices, home prices or any prices are seen as a way of letting the market breathe.
Until greed is permanently eliminated from the English language, too much freedom will always be a very dangerous thing.
Thursday, December 09, 2004
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