We don't learn and that's frightens Sox First. Greed is pushing up oil prices which have reached their highest level for the year at $74.48.
Forbes has jumped on that, claiming its a sign of optimism about the recovery. As things pick up, there'll be greater demand and that will drive up the price of oil. So the theory goes.
But that's clutching at straws because it doesn't make sense given the state of the world's biggest economy and economists warning that our dependence on stimulus packages could see us dipping into another recession in 2010.
The only reason oil is rising is because of speculation by commodity trader traders, according to this report.
Part of the problem is we don't know how much speculation is going on because those markets are not transparent.
But what makes it even worse is that these traders are benefiting from the market's rebound and at the same driving up the price of oil which will hurt businesses and consumers. There's something very wrong with a system that allows that.
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