There is a growing body of opinion that financial speculators are the major cause of the large increase in oil and commodity prices. These new financial bubbles will burst one day. In the meantime, the speculators make a lot of money and the ordinary people have to pay for their greed, through the high inflation and cost of living. The capitalist, free market system is falling apart. It will not stay long in this manner.
George Soros Says Rocketing Oil Prices is a Bubble
ReplyDeletehttp://hongjun.blogspot.com/2008/05/george-soros-says-rocketing-oil-prices.html
hongjun
Capitalism will never fall a part.
ReplyDeleteIt is the best system in the world so far to create material well-being.
Capitalism is about nature. Nature that human is a selfish being. The law of nature takes place in capitalism world.
You see, communism idea is noble one, but it could not work to produce material well-being because it goes against human natures.
So I think capitalism is still the way to go to improve material well-being, to grow the economy, to produce more things, to improve productivity, etc.
But we need some right dose of buddhism teachings...being compasionate, consume only what is needed, avoid killing (even animals) and to control our own mind (human biggest enemy is our very own self)...
Who direct the oil wayang?
ReplyDelete- politician
- capitalist: Investment Banks & Energy Companies
All from USA!
铁幕背后的石油交易：四大投行操纵国际油价
http://news.xinhuanet.com/fortune/2008-06/07/content_8323708.htm
Speculators thrive when there are certain conditions eg FED interest rate cut, Middle East politics, etc. This is only natural. Just like our property speculators when hot foreign money flow in, integrated resorts, MM Lee's "Golden Age" comments etc. Of course the bubble will burst when these conditions turn the other way.
ReplyDeleteWith inflation set to stay for some time, I wonder if property is a good hedge against inflation :)
ReplyDeleteTo learn more about history of capitalism, please buy a copy of DVD title "大国届起Rising of Great Powers", produced by CCTV. It give a different perspective support with historical facts. This series had been broadcasted by channelNews Asia & MobTV in 2007.
ReplyDeleteThe DVD would befefit those who concern sustainable economic growth for our present and next generation.
PRODUCT OF USA= the deepening economic downturn + anxiety among everyday folks.
ReplyDeletehttp://money.cnn.com/galleries/2008/news/0803/gallery.real_stories/index.html
Just read about Richard Rainwater sold his oil stocks and made billions. Is this tell-tale sign of the oil bubble burst?
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