Oil Drops $10/bbl.
Ah panic. Can you smell it? Nope. But its happening just the same. I wonder if this is some retarded market response to the death of Bin Laden, hardly the only terrorist in the world, or the last one. Considering that Pakistan was sheltering him there for 10 years, it seems the time has come to yank their $1.3B/yr subsidy. They're clearly the enemy here. It is time to treat them as a proper enemy, not pretend they're an ally.
As for oil, how long before realization that the debt ceiling rise and continued monetization of the debt makes the rest of the world remember that the dollar is worth that much less, so more of them are required to pay for things like oil. Inflation of the oil price is ALSO a big pressure, not just lack of supply. Though decreased demand, as they cynically call it, is a downward pressure. Of course, won't India and China need that oil? Then again, if the USA pulls out of the 'Stans and lets them go back to full time butchery, and then spill over into India, that should do a good job repressing further growth and stifle their oil demand. What with Pakistan having nukes, and India too, us pulling out is kind of like removing the pin from a grenade in a crowded theater. India and China have both done their parts to destroy the USA's economy, but that wouldn't have happened if Globalism hadn't been pushed by the last three administrations. Globalism is good for evil business empires. Its not good for America, or the EU either. Time for those trade tariffs.
As for oil, how long before realization that the debt ceiling rise and continued monetization of the debt makes the rest of the world remember that the dollar is worth that much less, so more of them are required to pay for things like oil. Inflation of the oil price is ALSO a big pressure, not just lack of supply. Though decreased demand, as they cynically call it, is a downward pressure. Of course, won't India and China need that oil? Then again, if the USA pulls out of the 'Stans and lets them go back to full time butchery, and then spill over into India, that should do a good job repressing further growth and stifle their oil demand. What with Pakistan having nukes, and India too, us pulling out is kind of like removing the pin from a grenade in a crowded theater. India and China have both done their parts to destroy the USA's economy, but that wouldn't have happened if Globalism hadn't been pushed by the last three administrations. Globalism is good for evil business empires. Its not good for America, or the EU either. Time for those trade tariffs.