Debt Rattle December 10 2014


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    Marjory Collins “Crowds at Pennsylvania Station, New York” Aug 1942 • China Inflation Eases To Five-Year Low (BBC) • Popping The Chinese Stock Market
    [See the full post at: Debt Rattle December 10 2014]

    V. Arnold

    Hmm, no mention of the U.S.’s role in this debacle.
    There is some speculation that the U.S. has gotten Saudi Arabia to hold the line on oil production to damage Russia’s economy (Russia being an oil exporting country) by driving the prices down, way down. This is just stupid.
    The U.S. is in a full court press for regime change in Russia.
    It should be noted that historically the U.S. did the same thing (sanctions, severe sanctions) to Japan prior to their attack on Pearl Harbor.
    The McCollum Memorandum;
    well documented by Robert Stinnett in his book, Day of Deceit, outlines FDR’s plot to incite an attack by Japan after severe sanctions against Japan.
    The overall picture is not complete without this information.
    The U.S. is playing with a man (Putin) who will not be bluffed or otherwise intimidated.
    The ignorance and blatant stupidity is breathtaking…


    @ Ken Barrows
    ISIS is (apparently), selling oil at a positive cash flow, ($30).
    If you make the original owners, (producers), eat their investment then you can sell the oil at a profit.
    The seller doesn’t care what is the production cost. The seller doesn’t care if the price of oil is causing you pain.
    All the seller cares about is making a profit. The more the better.

    E. Swanson

    Point of interest regarding one shale producer:

    Goodrich shares slump after company says to explore sale of shale asset

    Goodrich Petroleum Corp…. said it’s exploring strategic options for all or part of its Eagle Ford Shale asset in the first half of 2015. The company said it has a preliminary capex budget for 2015 of $150 million to $200 million, which may be increased if oil prices improve and it is able to monetize the shale asset. The company’s 2014 capex budget was $375 million, according to a February statement.

    Ken Barrows

    I don’t disagree that some oil production is less than $30/barrel. But where it’s at is the margin. I do think there’s a good number of barrels being produced in the USA and Canada that are being produced at a loss right now. (I used to be naive and think that activity should generally be positive cash flow.) So the question is whether world oil markets in a year or two reset at a lower level of production like 2008-09.

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