And now we begin to see the decline of capitalism and the free market system. From my limited understanding of economics, the reason for the recent increase in prices, especially fuel and food, is due to speculation, not actually low supply. Hence, supply and demand as an economic reality as been effectively debunked. Why are we paying higher prices when gas and oil supplies are not low? Because we have no choice and a few certain select members of the elite are raking in huge profits. Why are we paying more for food? Food supplies are not low, but speculation and economists think that it might become low in the future, hence the price goes up, and the lower classes suffer. This is the final straw. While the majority of Americans and people in the world suffer under higher prices over which they have no control, the inklings of revolution must be forming.
This warped economic system must be placed under the control of a state that has the people’s best interests at heart, not in the hands of wealthy speculators with their own interests at stake. A few hundred million or billion dollars to a wealthy businessman may mean the suffering of millions of humans. It is time for the state to take control and work for the people. If this is does not happen it is time for the people to take control and implement a system that keeps their interests and welfare at the forefront of policy. We are still held by the chains of prices — prices that we have no control over — and the time is coming when we must break these chains.
It was confirmed by my friend, The Great Steven Parker, who has studied and is studying economics, that speculation has indeed caused this price increase in oil and gas. He said that he had heard that without speculation, oil would currently be around $60 to $70 per barrel.