Speculation Offsetting Downside Factors in Housing

By: Monday October 8, 2012 7:45 am

We have heard so much about the positive prospects for housing over the past year, I thought maybe we should pay some attention to the downside case. Michael Panzner provides it, and it hinges mainly on the high supply of shadow inventory and the type of loans being offered these days: Needless to say, shadow [...]

Obama-Appointed Judge Strikes Down CFTC Commodity Speculation Limits

By: Friday September 28, 2012 3:59 pm

Everybody get on the commodity speculation train. A federal judge today threw out the Dodd-Frank provision that empowered the Commodity Futures Trading Commission to set position limits on commodity trading. Judge Robert Wilkins said in his ruling that the CFTC did not prove the necessity of position limits to curb runaway speculation, and that the [...]

Administration’s Steps on Oil Market Speculation Mostly Rely on Congress

By: Tuesday April 17, 2012 10:21 am

The President used a Rose Garden speech today to announce a new effort to crack down on rising oil market speculation. Here’s an excerpt from the remarks: We can’t afford a situation where speculators artificially manipulate markets by buying up oil, creating the perception of a shortage, and driving prices higher — only to flip [...]

Democrats Continue to Push Speculation Angle on Gas Prices

By: Thursday April 5, 2012 10:34 am

House Democrats have continued their efforts to keep the notion of oil speculation driving the run-up in gas prices at the head of the national conversation. Yesterday, the House Democratic Steering and Policy Committee held a hearing on over-speculation and its impact on the market, attended by, among others, Democratic Leader Nancy Pelosi. In remarks [...]

Speculation Responsible for Portion of Oil Price Run-Up, But Administration Looks Elsewhere for Solutions

By: Wednesday March 21, 2012 7:42 am

Economists at the Federal Reserve Bank of St. Louis estimate that Wall Street speculation is now the second-largest contributor to oil prices, accounting for 15% of the increase in oil prices over the last decade – correlating strongly with the expansion of commodity trading and speculation in oil futures. This makes speculation perhaps the most [...]

Yes, Gas Prices Do Have An Impact on Electoral Politics

By: Monday March 12, 2012 7:34 am

I’ve seen a lot of Democratic campaign operatives and even economic analysts talk themselves out of the idea that elevated gas prices represent a constraint on both the economy and the expected performance of the President in his re-election campaign. But new polling numbers make it tougher to spin this away. Despite trends that the [...]

Oil Speculation Can Be Right and Also a Problem

By: Thursday March 8, 2012 9:06 am

Matthew Yglesias has a piece making the fairly obvious point that geopolitical tensions cause the price of oil to rise. He adds that speculators are right to bid up the price of oil because of that: In the grand scheme of things, if the Iranian nuclear program really is a dire threat to American security, [...]

Romney Admits Presidents Cannot Determine Gas Prices

By: Wednesday March 7, 2012 7:35 am

The President correctly clowned Ed Henry for that absurd question yesterday about whether he secretly wanted gas prices to rise to bring about a renewable energy revolution. “Ed, just from a political perspective, do you think the President of the United States, going into reelection, wants gas prices to go up even higher,” Obama asked. [...]

HAMP for House-Flippers? Real Estate Speculators Can Access Loan Modifications

By: Monday March 5, 2012 11:39 am

You would think that the Administration would try to master how to deliver relief to struggling borrowers who need the help before moving on to another sector of the housing industry. But you would be wrong. Instead, Bloomberg reports that the Administration will open up the failed HAMP program to real estate speculators who got [...]

President Mostly Speaks Truth About Gas Prices

By: Friday February 24, 2012 7:36 am

So we’re going to have another fatuous debate about gas prices in this country, as if the President has a ticker on his desk that he can set to the 9/10 of a cent. President Obama made the effort to mock this. As a national politician he obviously feels he cannot say “there’s not much [...]

Pelosi Speaks the Unspoken: Wall Street Speculation to Blame for Rising Gas Prices

By: Thursday February 23, 2012 6:59 am

House Democratic Leader Nancy Pelosi went sharply after oil speculation late yesterday, taking up a strategy to answer Republicans on rising gas prices that has not been employed much in the political sphere. Take a look at Pelosi’s press release yesterday on the subject: Independent reports confirm that speculators are driving up the cost of [...]

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