wiping out all your savings, which you were "forced" to put into SToX, 'cause there woz ZERO Yield everywhere else.
Sorry boy, good luck surviving on the street.
Manny I Pulation
posted from DAVOS...where else!
dc CB 01:54:16 GMT - 01/20/2016
so the logical conclusion: The Need to Cull the Herd.
India/China: Air you can't breathe without risking an early death.
USA The in the Former Industrial Heartland, Chevy's Fords, Chryslers Built here: Lead in the Water...not just the recent Press about Flint Michigan. But a variation of that happened in Wash DC, when they changed the formula at the water treatment plant.
dc CB 01:44:57 GMT - 01/20/2016
This dosen't happen without a plan.
62 individuals now hold the same amount of wealth as 3.6 billion people.
when true price discovery dosen't exist then wild irrational swings occur. This of course is the the reason that TPD(true Price...) has been banished from the market. A he]] of a lot more money can be extracted when there are wild swings unfounded in basic fundamental ANALysis.
Why woz Oil at $100+++, Why was Gasoline well over $4, why did NE retirees have to chose between eating or heating their homes?
we are now in the downswing... yeh it cud go to $10...
Islael Dil 01:20:41 GMT - 01/20/2016
Plesident Tlump sounds OK, especially with Lassie (outsoulcing) comes back home theme he stalted balking
Israel Dil 01:10:56 GMT - 01/20/2016
BuyCrude Entry: Target: Stop:
Botex is China version of Botox, same same only little diffelent
Israel Dil 01:07:25 GMT - 01/20/2016
BuyCrude Entry: Target: Stop:
"Petroleum products include transportation fuels, fuel oils for heating and electricity generation, asphalt and road oil, and the feedstocks used to make chemicals, plastics, and synthetic materials found in nearly everything we use today."
what's the average daiy closing price of the last 20 years (DMA 7300 / 5000)?
USA held USD 300m of Iranian funds, with interest the Iranian side got back 1.7b... looks like some believes that with Chinese made Botex the price of oil also be untouched :-)
Mtl JP 00:16:24 GMT - 01/20/2016
any next time the Brits get in a dust up w/ the Germans would likely be cyber type making MR President useless
Sydney ACC 00:09:15 GMT - 01/20/2016
As you correctly pointed out oil is probably in its sunset years as an energy source. As a component in the manufacture of synthetics that will go on forever, that, however, provides a fraction of its current usage.
If at current levels US producers can't turn a dollar its inevitable some will shut down with a rally occurring in the normal course of events. Where that leads us its anyone's guess.
Livingston nh 00:04:45 GMT - 01/20/2016
JP - next time the Brits get in a dust up w/ the Germans they better hope Trump isn't referred to as MR. President
Mtl JP 00:00:13 GMT - 01/20/2016
at least so far in his bombasts
Livingston nh 23:57:14 GMT - 01/19/2016
ACC - good point but the more foreclosure/bankruptcy actions result in cheaper assets for buyers so breakeven drops more -- a $55 breakeven could go as low as $45 // the real risk is a new US administration that is carbon friendly (no do-gooders allowed) and maybe protectionist, i.e., import tariff on oil
Of course nobody believes in protectionism anymore but ....
Mtl JP 23:55:25 GMT - 01/19/2016
shutting wells also means no barrels of oil sold ie no cash flow however meager to pay if only interest on creditor / bank loans ...
Sydney ACC 23:35:15 GMT - 01/19/2016
I'd look for the banks foreclosing on the more leveraged drillers as a sign that we may be nearing a bottom.
At some of the prices being bandied about its likely some drillers won't be able to meet their covenants.
Foreign nationalised drillers are another matter entirely.
Indeed, producers will be forced eventually to shut wells, or the wells will shut them, until clearing excess from markets.
Shutting wells means no income, against losses resulting from keeping their systems operational.
The lowest oil may reach on Tech. for me is 5$/Pbl, which is a price squeeze on the exchange only.
More I do expect, is a sudden collapse in gold prices, as a result from cash starved states and individuals affected by drop in crude prices.
If on top of that, Stox will continue to decline,it will add more selling pressure on gold.
Livingston nh 22:35:50 GMT - 01/19/2016
RF - oil as energy is in its sunset years -- for more than a year the market has been populated with Bagholders and Bargain Hunters (and that subset known as Bottom Pickers) -- the term you never hear from the analysts or economists is elasticity -- oil is inelastic - high price doesn't constrain consumption as much as say beef but neither does a low price encourage people to consume enough to take down excess supply
Until producers blink we will easily hit 19 // 10 is the panic cycle price that Bernanke aborted
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