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Are Central Banks Running the Oil Market or Just the World?
The question begs for conspiracy theories to satisfy it, but one might more aptly say that central banks beg for conspiracy theories to explain them, since they operate in the shadows while being given charge of all the financial systems of all the world’s greatest economies. Central bankers have the unchaperoned power to create the greatest fortunes ever known […]
Dohaha, Slippery Oil Laughs at Nearly Everyone — Myself Included
As predicted relentlessly here, the scuttled meeting in Doha to limit oil production broke up with no agreement at all. The meeting foundered like a tanker snagged in the dessert sands because of the singular obvious factor that should have sunken all hope weeks ago but did not: Saudi Arabia said, “No deal without Iran.” Doha disaster predictable yet not the disaster that was […]
More Pressure Builds Against Oil Prices
Saudi Arabia has moved beyond its original statement that it will only support a production freeze if “other major producing nations” sign on to the agreement. It has now clarified what I believed to be intended by its initial caveat all along, stating that it will only sign on to a production freeze if ALL nations sign […]
Perfect Storm for Oil Started on Schedule and Continues to Build
The perfect storm I predicted against the price of oil in the Ides of March has not fully developed, but all the forces I spoke of are continuing to build. The balmy days that prevailed for oil prices in early March have gone away, replaced by a downdraft that is once again suppressing prices more and more since their peak in mid-March. […]
The Perfect Storm in Oil Prices Will Hit in the Ides of March
While some business / economic publications, like NewsMax are saying that, “Oil is pulling away from the market’s biggest storm in seven years,” I say, “Don’t believe it.” Not for one second. The real storm begins near the middle of March.
13 Black swans swirling above the US economy
The black swans are circling like vultures now. Dark economic events seem to be flying in out of nowhere for those who have vision to see them. Even dovish New York Fed President William Dudley, who cannot tell the difference between money and hot air, sees a lot of black in the skies now and says that he […]
Sheen on the Oil Slick Getting Darker
Last week, I wrote that the day would come soon when oil prices would take another nasty dive because there is nowhere left to store oil, causing the spot price for immediately delivery to dive toward the zero bound. This week we see how close that day is as oil continues to be oversupplied by […]
The US Oil Slick is Getting Wider: Oil Boom Going Bust
Only about a week ago, one reader scoffed at me because oil prices had stabilized (or so the market theory d’jour went). The big stock market crash I had predicted had run its course, he thought. The Saudis and Russia had entered a deal on oil, and Iran was coming on board; the stock market […]
Hell Week for the Global Economy Gives Signs of Things to Come
The developing Epocalypse will become the super-volcano of economic history, and this week revealed cracks in the surface that give hints of the eruption to come. It was a week of crumbling throughout global stock markets that has challenged records. Thursday, Hong Kong stocks suffered their worst start of a Chinese New Year since 1994 in […]
Entering the Belly of the Epocalypse
Only a couple of weeks ago, I said we were entering the jaws of the Epocalypse. Now we are sliding rapidly down the great beast’s throat toward its cavernous belly. The biggest economic collapse the world has ever seen is consuming everything — all commodities, all industries, all national economies, all monetary systems, and eventually all peace and […]
Stock Market Stupidity Stoops to New Lows as Does Oil
Lot of people riding the stupid train right now. The stock market opened its third week of the year up 150 points on the Dow and, by midday, proceeded to trip all over its feet again. It is getting funny to watch investors continue to bang their bullheaded, brainless, upper-respiratory junction they call a head against the market’s ceiling. […]
The Epocalypse Spreads its Gaping Jaws and Smiles
If it weren’t so serious for the world, it would have been funny to watch on Thursday as the stock buy zolt ambien online market rose sharply upon news that oil prices were rising. Robotraders with silicone brains, I thought. Do people really believe today’s rise in the price of oil means anything? There must be a built-in […]