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Today’s article at the Ludwig von Mises Institute discusses the financial crisis that they and other Austrian economist have been predicting all along, and the long, long road ahead of us. The severe financial crisis and resulting worldwide economic recession we have been forecasting for years are finally unleashing their fury.

Title: "H23 BB00934850 * ...my $100 'star note'."   (We had a power outage here in the Seattle, Washington, U.S., area this afternoon, so this post was delayed for Western-Hemisphere, Saturday-evening traffic.) Repost This Article On Your Site You may repost this article on… ...

Facts are funny things: In one of the broadest and most authoritative studies to date, the Commodity Futures Trading Commission has offered hard statistical data that financial trading hasn't been... [[ This is a summary. Visit BrainShavings.com for the full text. ]]

Wall Street Journal: Speculators Are NOT To Blame johnsblogs42closeAuthor: johnsblogs42 Name: John G Email: johnsblogs42@yahoo.com Site: http://hoopyfrooddude.blogspot.com About: A hoopy frood who really knows where his towel is! A plethora of Various remarks and observations about the "Still waters run stupid" society.See Authors Posts (224) Speculators!

Speculators! Speculators! Speculators! The fuel and oil price problems are all the speculators fault! Or, so we heard non-stop from the powers that be (in control for now) in the House. There's no other excuse they said. It has nothing to do with Supply and Demand they said.

As of this finishing of this article the Dow Jones is closed at 504 or 4.4% down. Most of you don’t remember the day in the 80’s when it dropped 600+ points in an afternoon based on an index of 3,000 or less. We survived and prospered thereafter. This sounds like a huge drop but is a relatively minor dip if taken in historical perspective.

As of this finishing of this article the Dow Jones is closed at 504 or 4.4% down. Most of you don’t remember the day in the 80’s when it dropped 600+ points in an afternoon based on an index of 3,000 or less. We survived and prospered thereafter. This sounds like a huge drop but is a relatively minor dip if taken in historical perspective.

Anti-capitalist Democrats (and regrettably the Republican candidate for president) won’t like hearing it, but speculators are not to blame for high oil prices in recent months.  So sayeth the Commodity Futures Trading Commission.

It should once again be an interesting week for crude oil. It appears that Hurricane Ike shutdown 19 percent of refining capacity, causing analysts to predict that gasoline may once again rise to $4 per gallon on average if the outages start to approach a month or longer (see Bloomberg article).

And now the rest of the story. Institutional investors drove oil prices to all-time highs this summer, and the same players are also responsible for much of the $44-per-barrel loss since then, according to a Sept. 10 report that is being used to bolster calls for greater trading regulation.