v21’s avatarv21’s Twitter Archive—№ 79,155

  1. …in reply to @mountain_ghosts
    @mountain_ghosts the "invisible hand" explanation is: invasion means less Russian gas, means less gas in general, means less supply and more demand, means people might not get gas if they don't pay more, means prices rise.
    1. …in reply to @v21
      @mountain_ghosts but the actual mechanics are probably as much that everyone expects this to happen and so adjusts their prices pre-emptively. also "the price" is both the price and also the obligation/option to buy it at a date in the future, which codifies the "guess what the market will say"
      1. …in reply to @v21
        @mountain_ghosts a game where you become very wealthy if you can guess in advance the same number everyone else will later guess