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I have been ranting about this phenomenon for almost a year now and none of my friends seem to understand how stupid this tactic has become. Think back to the $4-$5 gas we were paying for last summer. Do you remember that wonderful time? Did you enjoy it like everyone else in the US liked it? Wall Street is incredibly corrupt people, it has been for a while and the oil prices were just an example of the feeding frenzy. Another good example would be the credit default swaps that ruined AIG. Basically, people drove the oil futures market up artificially and made a ton of money doing it. However, when people started losing jobs and other industries started crashing that practice had to stop drastically. It is not a coincidence that the prices plummeted so abruptly.

Well, I started griping about short selling last year and this is the new oil future gimmick that people are using to make tons of money. I have heard people talk about how they shorted companies because they didn’t like the way the CEO spoke. I heard a notable tech personality talk about how they shorted companies because President Obama wasn’t cheerful enough. Stupid!

The basics of short selling is:

In finance, short selling or “shorting” is the practice of selling a financial instrument that the seller does not own at the time of the sale. Short selling is done with the intent of later purchasing the financial instrument at a lower price.

Yes, you read that right. They are selling something that they do not own! They borrow the “instrument” and then sell it and you make money on the margins. You can make a great deal of money doing this and in the process you ruin the company. Now that is capitalism at it’s best! It’s also de-regulation at it’s best! Way to go Phil Gramm you moron. At any rate, check out the video and get an idea at how stupid this practice is and why these people need to be removed from earth.

Tags: Politics, Video