Markets in a tailspin

[Scarpozzi]

In the 70s as a kid, I was taught that the oil would run out by the year 2000.

Hairstyles actually made the big difference there. After this movie came out in the late 80s, it was clear that something had to be done and billions of gallons were saved.

 

[shady28]

Debts as assets tend to go bad....


WORSE THAN 2007': Top banker warns of looming wave of worldwide bankruptcies

William White, chairman of the OECD’s review committee and former chief economist of the Bank for International Settlements, who suggests the stresses in the financial system are now “worse than it was in 2007”.

Speaking to the UK Telegraph’s Ambrose Evans-Pritchard before the start of the World Economic Forum in Davos, White warned that macroeconomic ammunition to fight further economic downturns is essentially “all used up”.

“Debts have continued to build up over the last eight years and they have reached such levels in every part of the world that they have become a potent cause for mischief,” he told the Telegraph.

“It will become obvious in the next recession that many of these debts will never be serviced or repaid, and this will be uncomfortable for a lot of people who think they own assets that are worth something.”

I like this part :

White believes governments hold the key, telling the Telegraph that “they should return to fiscal primacy – call it Keynesian, if you wish – and launch an investment blitz on infrastructure that pays for itself through higher growth”.

As opposed to what they did last time - cash giveaways to Wall St....

 

[brianmanahan]

so like new deal 2.0?

 

[MongGrel]

A strong president would have withheld benefits to the Arabs when they started attacking our oil producers. Meanwhile, Obama is blissfully unaware, or worse, complicit.

Obama has always hated the oil industry, and has fought the Keystone pipeline with his every breath.

Spout some Global Warming; Fear, Uncertainty, Doubt...

Here we are, with a decimated oil industry.

-John

I just read derp myself.

My mind works that way I suppose. Maybe you should hang out with DW more.

 

[Fern]

You can't be serious haha! Obama doesn't control the oil market. OPEC does. Or at least, they're shooting themselves in the foot to try and keep it that way. All we can do is drill or not drill. At these prices... not gonna happen.

Lifting sanction on Iran results in more supply etc.

Govts can most certainly influence markets.

Fern

 

[boomerang]

I just find it funny the 35 year benchmark has been used my entire life over 35 years ago. We should had run out of oil a few years ago by now from predictions decades ago

The human mind is fairly easy to manipulate on both small and large scales. But thank goodness there's none of that going on now. :sneaky: