David Greenberg on how electronic and high-frequency trading is driving up oil prices
Welcome to Capital Account. An EU parliamentary committee voted unanimously to impose tighter restrictions on banks’ trading activities, including a proposed curb on so-called high-frequency trading. We talk to our guest David Greenberg, former NYMEX board member, about where the United States stands on high-frequency trading.
Also, oil rebounded from its lowest price in almost two months, on speculation over stimulus measures by China. In just a few years, average prices have surged from $50 a barrel in 2007 to over $90 today. We ask David Greenberg about what’s really exacerbating this spike in oil prices over last five years.
Plus, annualized US GDP revisions for the second quarter revised growth down to 1.3 percent. After the 1929 stock market crash, New York City’s Times Square was a good barometer for the troubles facing the average American. In a special episode of ‘Loose Change,’ Lauren and Demetri are in New York today, so we’ll hear from them on what they call the “peep show indicator.”