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Days of Futures Past Episode 1 | Scott Irwin, Professor, University of Illinois and Author of “Back to the Futures”
SmarterMarkets™
The Anti Speculation Cycle
When markets behave in an unexpected way, we often see what you call the anti speculation cycle. If prices go very high, then consumers experience some significant pain and a natural human psychological tendency is to look for the villain. But on the downside, if you have unusually low prices, then the group that's experiencing the economic pain is on the producer side. And producers will complain about the evil speculator driving prices well below fundamental economic value.
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