Blaming speculators for inflation is like blaming surfers for tsunamis.
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Some Chicago Boyz know each other from student days at the University of Chicago. Others are Chicago boys in spirit. The blog name is also intended as a good-humored gesture of admiration for distinguished Chicago School economists and fellow travelers.
Blaming speculators for inflation is like blaming surfers for tsunamis.
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Exactly! Shoot the surfers!
Short term fluctuations in the price can be attributed to “speculators,” but the last time I checked, the laws of economics were still in force. The price will, eventually, reach equilibrium. And it’s those pesky little things called studies, and research, and facts, that confuse our MSM friends.