Debt Rattle December 27 2014


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    John Vachon Billie Holiday at the Newport Jazz Festival Jul 1954 • Natural Gas Drops Below $3 for First Time Since 2012 (Bloomberg) • Oil Caps Fifth W
    [See the full post at: Debt Rattle December 27 2014]


    I posted a question for Ilargi over at my place.

    Now, you all know that I am kind of a fanboy of Ilargi and Stoneleigh over at the Automatic Earth.

    I do like the Debt Rattle part of the process there.

    But sometimes I would love a little more… I am going to ask questions here.

    Here is the headline in the “Debt Rattle”

    • Saudi Arabia Maintains Spending Plans in 2015 Despite Oil Slide (WSJ)

    So, since this is a paywall link to a status quo economic cheerleader , I ignore it and go poking over to the “Grey Lady” and find this…..the applicable quote is:

    The Finance Ministry said the “budget was adopted under international economic and financial conditions that are challenging.” The 2015 budget reflects an expected cut in revenues of around $88 billion from 2014, mostly due to the slump in global oil prices.

    So, the Saudi’s dip into the big pot-o-dollars and start spending them…..looks as though they have enough to cover bad oil prices for 6-8 years, which I firmly believe will not be the case.

    But what will be the effect of spending all these dollars? What will spending these dollars do to the value of the dollar as they start flooding the market?

    BTW: Here is a $$-SDR conversion

    V. Arnold

    I thought the Daily Bell was spot on.
    No doubt the U.S. will try to foil the Panama canal alternative.
    As to search engines; I’m using DuckDuckGo and find it really, really works. They claim no tracking or other shenanigans and that seems to be true..
    I ditched Yahoo and Google as my main mail. Now all I need is to find a browser to get away from Chrome. Thinking of Fire Fox…

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