# oil prices and the mismaged economy

**URL:** <https://boards.straightdope.com/t/oil-prices-and-the-mismaged-economy/440483>\
**Category:** Great Debates\
**Created:** [March 7, 2008, 7:00pm UTC](https://boards.straightdope.com/t/oil-prices-and-the-mismaged-economy/440483 "2008-03-07T19:00:16Z")\
**Posts on this page:** 2\
**Page:** 7

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**Author:** ![flex727](https://avatars.discourse-cdn.com/v4/letter/f/258eb7/32.png) [@flex727](https://boards.straightdope.com/u/flex727)\
**Post date:** [March 17, 2008, 1:55am UTC](https://boards.straightdope.com/t/oil-prices-and-the-mismaged-economy/440483/121 "2008-03-17T01:55:22Z")

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[QUOTE=gonzomax]  
Why is gambling a better term. ? A toss of the dice is a better display of money management than guessing? If the knowledge Mace claims is what drives investors,if so they would all make money. Such knowledge does not exist. It is speculation.,gambling.  
[/QUOTE]

Okay, call it an educated guess based on analysis of available data. Those that do it well make money, those that don’t, don’t. Either way, the futures market is a benefit to society as a whole.

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**Author:** ![Voyager](https://sea3.discourse-cdn.com/straightdope/user_avatar/boards.straightdope.com/voyager/32/133_2.png) [@Voyager](https://boards.straightdope.com/u/Voyager)\
**Post date:** [March 17, 2008, 3:33am UTC](https://boards.straightdope.com/t/oil-prices-and-the-mismaged-economy/440483/122 "2008-03-17T03:33:42Z")

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[QUOTE=gonzomax]  
Why is gambling a better term. ? A toss of the dice is a better display of money management than guessing? If the knowledge Mace claims is what drives investors,if so they would all make money. Such knowledge does not exist. It is speculation.,gambling.  
[/QUOTE]

I like gambling because my brother used to be a card counter, and he gambled based on some information, though incomplete. A guess sounds like it’s pure luck - though educated guess is ok also. Bottom line, though, it is speculation, and on factors not necessarily directly related to the value of the commodity over time.

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