Tuesday, October 16, 2007

The Futures

http://finance.yahoo.com/charts#chart2:symbol=^tnx;range=1y;compare=^gspc;charttype=line;crosshair=on;logscale=on;source=undefined

Is cash that good?

I guess if you're terrified... Take oil for example, which is a physical thing. It's price should be a factor of supply and demand. Our problem is that futures have overshadowed supply and demand as the lead factor in the price. The rising price has nothing to do with the markets of actual oil. It's all futures! I seems to me that all our markets have become meta-tized one level out, at least one. Even markets that where already based on speculation, like currency markets, are now driven by speculation about future speculation. Everything you buy is really a future now.

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