This is fitting. Speculators look out for trouble while gamblers seem to look for it. It is a play on words I understand, but it s the difference between trading and gambling. As I said yesterday, where there is a difference of opinion on the value of something, the breeding of speculation occurs. It is important to realize that speculation is a social thing, not an economic thing.
Traders don t speculate to provide the economy with some sort of boost in consumption.
They do it to raise monies for declaring greater stature. Many of us declare that we want to trade for a living out of desire to stay home with our children and to avoid corporate America. However, many of us still buy the new cars, live in the bigger homes and travel more. It s a natural tendency to consume more when one derives more resources to do so. I do not see it as a bad thing, but let s not fool ourselves in our reasons for choosing speculation as a trade.