Speculation and Greed

The politicians are at it again. This time it’s the Germans, but, sooner or later, most of them get around to it. In order to deflect blame from themselves, they like to shoot the messenger. And when the messenger is the financial markets, the pols trot out those evil twins, speculation and greed.

Let’s be clear: all investment is speculative. There is no such thing as an investment without  risk. And all investors want to make money rather than lose it. They’re greedy. And I certainly don’t know any investor looking for a certain way to lose money! But if there were such creatures, they would avoid the financial markets and look to government and politicians, who seem to have mastered that art!


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