Professional Left begins the call to demonize speculators
Chris Hayes leads the futile charge of anti-capitalist, anti-free market fervor.
When you’re done with that, read the debunking here, as just about everything Hayes says is wrong.
This really comes as no surprise. With a Democrat in the White House, and Democrats running Congress for the better part of five years, there’s really not choice but to find somebody else to blame for the volatility in oil.
I think it’s humorous and disingenuous for Hayes to cite warnings by people like George Soros on the dangers of speculation. It was Soros after all, who famously earned a hefty profit by speculating on the British pound in 1992, nearly devastating England’s economy in the process.
You see, speculation for profit is okay so long as liberals are the ones profiting.
As long as that double standard exists, nobody should take the professional Left seriously when they whine about fairness in financial markets.