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.

​There are two kinds of failure – but only one is honorable

Malcolm Gladwell teaches "Get over yourself and get to work" for Big Think Edge.

Big Think Edge
  • Learn to recognize failure and know the big difference between panicking and choking.
  • At Big Think Edge, Malcolm Gladwell teaches how to check your inner critic and get clear on what failure is.
  • Subscribe to Big Think Edge before we launch on March 30 to get 20% off monthly and annual memberships.
Keep reading Show less
Photo by Alina Grubnyak on Unsplash
Mind & Brain

Do human beings have a magnetic sense? Biologists know other animals do. They think it helps creatures including bees, turtles and birds navigate through the world.

Keep reading Show less

The culprit of increased depression among teens? Smartphones, new research suggests.

A new study, led by psychologist Jean Twenge, points to the screen as the problem.

A teenager eyes her smartphone as people enjoy a warm day on the day of silence, one day prior to the presidential elections, when candidates and political parties are not allowed to voice their political meaning on April 14, 2018 in Kotor, Montenegro. Citizens from Montenegro, the youngest NATO member, will vote for a new president on Sunday 15 2018. (Photo by Pierre Crom/Getty Images)
Surprising Science
  • 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.
Keep reading Show less

U.S. reacts to New Zealand's gun ban

On Thursday, New Zealand moved to ban an array of semi-automatic guns and firearms components following a mass shooting that killed 50 people.

(Photo by Spencer Platt/Getty Images)
Politics & Current Affairs
  • 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.
Keep reading Show less