Editorial: Senator Brown goes after speculators - 19 Action News|Cleveland, OH|News, Weather, Sports

Editorial: Senator Brown goes after speculators

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(WOIO) - Our liberal democratic Senator Sherrod Brown has apparently decided to take the gloves off and attack the American Free Enterprise System head on.

Brown, who never saw a piece of anti-capitalist legislation that he didn't like, is now demanding that the Obama Administration crack down on investors who speculate on oil prices. Because Brown said the speculating is driving up gasoline prices which he says could hit four dollars a gallon this summer.  

Well it doesn't seem to dawn on Brown that speculating on the prices of commodities like oil is the principal reason for the very existence of commodity exchange markets in this country.

Well, certainly he ought to know that the free market system, including the right of investors to risk their money on the rise and fall of prices, is at the very heart of our capitalist economy. 

Well, in all likelihood, Senator Brown's rhetoric is designed to pander to those who believe that the big, bad business community is responsible for all of their troubles. But, you know that kind of rhetoric, as the president has finally recognized, is poisonous for a struggling economy.

Write and let me now what you think.  I'm Bill Applegate.

 

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