Bill O'Reilly Got OWNED today
Bill O'Reilly had on Economist Ben Stein on his program today to talk about "those greedy oil companies price gouging consumers."
Bill has NO clue how the markets work. When Bill was told that the market prices fluctuate on expectations of supply shortages, Bill said "Oh, so now we're paying on anticipation." Ben replied, "but that is how the markets work!"
Bill O'Reilly claims to understand the supply and demand factors which determine a price. But he is missing a big piece of the puzzle: expectation. Why do stock prices go up and down every day? Do they 100% reflect the actual worth of the company? No. A lot of it is expectation and speculation.
I used to have a lot of respect for Bill O'Reilly but damn...he sure is slipping lately.
Bill has NO clue how the markets work. When Bill was told that the market prices fluctuate on expectations of supply shortages, Bill said "Oh, so now we're paying on anticipation." Ben replied, "but that is how the markets work!"
Bill O'Reilly claims to understand the supply and demand factors which determine a price. But he is missing a big piece of the puzzle: expectation. Why do stock prices go up and down every day? Do they 100% reflect the actual worth of the company? No. A lot of it is expectation and speculation.
I used to have a lot of respect for Bill O'Reilly but damn...he sure is slipping lately.
posted by Unwilling Participant at 5:48 PM
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