Debt Rattle January 20 2015
- This topic has 5 replies, 6 voices, and was last updated 9 years, 3 months ago by
.
-
Posts
-
DPC The steamer Cincinnati off Manhattan 1900 • IMF Lowers Global Growth Forecast by Most in Three Years (Bloomberg) • Chinese Growth at 7.4% Is the S
[See the full post at: Debt Rattle January 20 2015]The head of Shell Oil said yesterday that we shouldn’t get too comfortable with cheap oil, because it’s going to hit $80/90 per barrel this year.
This is interesting because the Saudi oil minister said, not a week ago, oil will “never” hit $100/barrel again.
I mean, you just gotta laugh when all available information is blatantly contradictory.
Bottom line; I believe nothing and prepare for the absolute worst.
I live in a country that still grows its own food. And, I don’t need fuel to keep warm in the winter.
Gods be good, the insanity is all pervasive…Maybe Amaral-Rogers is overstating the impact on wild bees (after all, how could she possibly know about all of England and Wales?), but who knows.
The information you track here gets ever more ominous, Ilargi. Amazingly, you’re not even making it up, just pointing to it. 😉
I’m thinking oil (WTI) will bottom around $26. That would put it near an 82% drop from the top, right? I won’t ask if you’ve started a pool.
We heard similar things in the NE U.S. and while parasites and winter were hitting the colonies pretty hard, backyard bees overall weren’t doing all that much worse than usual. Looking at the alarmist crisis of bees going extinct and how we’z all gonna die!!!! without the humble honeybee, it seems that it’s largely the commercial colonies that were hit so hard. Question: why?
Two things come to mind: one, the bees are placed in the epicenter of poison: the herbicides and pesticides used for farming. Wild bees don’t, or have more alternatives that are less poisoned. Second, and far more interesting is that backyard bees don’t travel south on trucks all winter. Why does this matter? Well, there happens to be a pesticide that targets the honeybees’ closest relative: termites. It works by causing the termites to lose their sense of direction back the mound. Funny, that’s exactly what “Colony Collapse Disorder” is! What a coincidence! Of course Monsanto assures us this is entirely unrelated and they’re not responsible for hundred-billion$$$ in damages to I dunno, life itself on this planet, and I’m sure you believe their scientists just as I do. However, in the U.S. it is only bees that winter in the south that could–theoretically–pick up the pesticide, leaving the backyard bees up north unaffected. The ones that live in termite country year-round, well…
For Europe, I’m sure the near-total use and reliance on poison farming, coupled with concentrated breeding of bees away from their wild roots have nothing to do with the loss of bees. Probably sunspots or something.
Either way, goes to show that when you create poisons, someone has to stand over the barrel, and when you dump billions of tons of poison, well, it doesn’t stay neatly in one place in the ecosystem. Oh no. You may think you’re poisoning the other guy, but that other guy is ultimately yourself.
It seems money has a new cost. The cost of security. So EU bonds are sold with misleading pricing that confuses the big banks – I am not worried about them figuring this out but the domino effect once they price this out. Check bloomberg out
Now on to oil. People are forgetting oil priced at $150. The next few years changed the landscape. The damage was done quickly to refineries. Once hit no investor returned and they were dismantled. I predict the damage of oil under $50 will be the same.
Its a tipping point. Investors no longer feel secure about the price of oil. Just like the housing collapse where it no longer was true that houses always go up in price the same is true of oil. When investors no longer see price stability investment will stop. Guarenteed fracking companies that proceed to bankruptcy will not re-enter. Speculation will cool for a good period.
So long term the market will be less agile in oil. Opportunities will require less risk. Just like the other collapse’s this will remove large amounts of electronic currancy from the market. Kind of interesting QE puts the money in and volatile collapse removes it.
The NZ Prime Minister is certainly engaging in “hollow propoganda” which seems to be default setting for leaders everywhere these days. Of NZ’s top export products, 3 are tanking – Dairy and oil prices are half of what they were 12 months ago, wood prices are down and only meat prices remain firm but for how long? NZ’s 2 biggest trading partners are Australia and China and their economies are going south rapidly, with likely flow-on effects. So how the economic outlook can be rosy for a small exporting nation with this equation I do not know.
- You must be logged in to reply to this topic.
Sorry, the comment form is closed at this time.