Speculative Investors have always been with Us, spurred by Profits derived in enterprise where little further expansion can be utilized. Such Speculators lack expertise in the areas which they enter, and turn to what little help they can find; the slick Investment Counselor--an Individual with Standards generally on a par with Used Car Salesmen. This fact does not truly matter--as the adage about a Fool and his Money is amazingly resilient. Trouble does arise, though, in that Republican-brokered Tax Cuts have placed far to large an amount of Speculative funds in the hands of Those without understanding of mechanisms of Markets.
A real Case in Point is the current Crude Oil Price. It is pushing over $60/barrel, when it's real Market worth is less than $40/barrel. The real problem does not reside in the current Pricing, though, but in the fact $60/barrel does not do its job of restricting Oil usage. It becomes further complicated so that a mild drop in Demand would bring an incredible drop in Oil price. The level of Speculation has brought a increased level of corruption to the Market process itself. lgl