I agree with you on most of what you say... But remember we have had speculators in the market place before on many other items. Remember the Hunt Bros? Got the price of Silver waaaayyyy up there..and then the price went to hell in a handbasket. I made great money on silver...and got out while the getting was good. But I was selling an actual commodity with intrinsic value(US coins). Same with land in the past...the housing market has been through the same thing in my memory at least 4 times. On a downswing right now...and it adds to economic woes. Speculation is a risky business. If you are at the top of the pyramid..you'll be ok..if you remember to get out while the market is still up there. Remember Emron or whatever it was?? Same thing for all intents and purposes. Just a bit smaller scale. Speculation!
Bad for (real) business