Reply to: Socialism

[NoddY]

The little people have free markets while the big people have socialism.

All losses in the City and Wall St. have been socialised. Risk is public, reward is private.

[d000hg]

It depends what exactly you mean by socialism. How extreme? For instance, I agree with things like free education/healthcare but I also think if I make the effort to improve my skills, I should be able to be rewarded.

[HairyArsedBloke]

If speculation was not pushing up prises then everyone who is buying oil futures should take delivery of the oil. They don’t, they don’t have even a barrel to put it in. Just before delivery the forward purchase is sold. Hence why the price of oil dropped after the boom.

To buy oil futures you only need 5% deposit then you either pay the difference on sale or gain the difference.

Initial Margin on WTI on NYMEX is closer to 10% (varies with the volatility of the contract), but that is being pedantic.

The % of Open Interest held by commercial hedgers is far larger than the speculators. The data is published every week and hasn't shown much change to suggest speculative manipulation.

[Paddy]

Not according to these guys: CFTC.


They were given instructions to find evidence that it was true so that Washington had someone to blame, but they couldn’t find any. When the Dollar stopped going down and reversed; oil, gold and other commodities went down in price.

If speculation was not pushing up prises then everyone who is buying oil futures should take delivery of the oil. They don’t, they don’t have even a barrel to put it in. Just before delivery the forward purchase is sold. Hence why the price of oil dropped after the boom.

To buy oil futures you only need 5% deposit then you either pay the difference on sale or gain the difference.

[HairyArsedBloke]

Prices for oil are not set by supply and demand but by speculators.

Not according to these guys: CFTC.

The ITF’s Interim Report on Crude Oil studied fundamental supply and demand factors and the roles of various market participants, and it found that fundamental supply and demand factors provide the best explanation for the recent crude oil price increases.

They were given instructions to find evidence that it was true so that Washington had someone to blame, but they couldn’t find any. When the Dollar stopped going down and reversed; oil, gold and other commodities went down in price.

[Paddy]

I voted for Socilalism Socialism is fundamentally flawed and can never work in practice.


However the same goes for capitalism especially as market forces don’t work.
Eg. Prices for oil are not set by supply and demand but by speculators.

[Diver]

Turn up at a cake baking competition with only a knife and fork and a huge appetite.

Cake! who said cake

[DimPrawn]

Socialists will argue about how to share the cake, but stop people from baking more of them.

Turn up at a cake baking competition with only a knife and fork and a huge appetite.

[HairyArsedBloke]

Socialists will argue about how to share the cake, but stop people from baking more of them.

[Ruprect]

Perhaps posting a poll on the merits of socialism in a forum chock full of people who earn 2-3 times the national average salary isn't the best way to get a good balance of opinion.

at least 4

[DiscoStu]

And "fairness" if anyone dares go above average.

Quite true. You're rewarded for your success by contributing more to the below average...

[chicane]

Perhaps posting a poll on the merits of socialism in a forum chock full of people who earn 2-3 times the national average salary isn't the best way to get a good balance of opinion.

[gingerjedi]

Socialism: Spend other peoples money, if they dare to complain put them in jail.

[DimPrawn]

Whenever I think of socialism my thoughts always seem to drift to scouse trade union leaders harping on about how badly done to public sector "werkers" are...

And "fairness" if anyone dares go above average.

[DiscoStu]

Whenever I think of socialism my thoughts always seem to drift to scouse trade union leaders harping on about how badly done to public sector "werkers" are...