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Well, there are at least two interesting problems with "speculator theory".
First, is that while one frequently hears the claim, and even named culprits like Goldman Sachs, to my knowledge noone has ever provided anything that looks like a proof of the claim.
I'd be interesting in looking at proofs if anyone has them.
The second is, even if it is speculators, what can be done about it in a global marketplace, especially in an era in which the republicans and neoliberal centrists have declared that regulation is an evil that destroys jobs?
The global marketplace naturally allows speculators to thrive, and who's going to regulate american and european companies from commodities speculation?
I often find it interesting that neoliberals are an even bigger proponent now of speculator theory than republicans and tea baggers.
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