[lbo-talk] Transformation problem

Charles Brown cbrown at michiganlegal.org
Tue Sep 19 14:23:42 PDT 2006


Think of it this way. Oil prices factor in perceived risk to the stability of the oil supply. Purported information about that risk is very abundant, changes very rapidly, and predicts the future very, very badly. Add to that the futures markets in which people speculate about future perception of risk and the ways the changing perceptions of risk will affect the rate of change in oil prices....and you have a recipe for a commodity market where prices go apeshit crazy. Michael McIntyre

^^^^ CB: Oh, now I see how the market can do things that planning can't do.



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