Automated Oil Markups & Speculation
Trader Anthony Grisanti claims that market consolidation and electronic trading have driven up the price of oil and taken the power out of the hands of the traditional pit trader.
Gone from the building are the traders who dealt in silver, gold, orange juice, cotton, cocoa and sugar. The change has not been for the better, says pit trader Anthony Grisanti. "The market can be easily manipulated. The transparency level has gone right down—black boxes control the market now." Hedge funds and big banks such as Goldman Sachs pile in and out in fractions of a second; speculation is at an all-time high and prices have never been so volatile, he says. According to Grisanti, the market is now full of "icebergs"—trades that appear small on the surface but turn out to be huge on close inspection. Prices are driven up by wild speculation and there appears to be no accountability, he says.
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Do you have a magnetic compass in your head?
A new study, led by psychologist Jean Twenge, points to the screen as the problem.
- In a new study, adolescents and young adults are experiencing increased rates of depression and suicide attempts.
- The data cover the years 2005–2017, tracking perfectly with the introduction of the iPhone and widespread dissemination of smartphones.
- Interestingly, the highest increase in depressive incidents was among individuals in the top income bracket.
On Thursday, New Zealand moved to ban an array of semi-automatic guns and firearms components following a mass shooting that killed 50 people.
- Gun control supporters are pointing to the ban as an example of swift, decisive action that the U.S. desperately needs.
- Others note the inherent differences between the two nations, arguing that it is a good thing that it is relatively hard to pass such legislation in such a short timeframe.
- The ban will surely shape future conversations about gun control in the U.S.
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