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Because nothing says global demand is picking up like the biggest collapse in crude oil prices since April 2009...
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1987 style dow crash
One can only hope - it should have happened long before now since 2008. Nothing has been repaired and the debt and leverage are now higher than they were in 2008.
DavidC
Drop it like is hot
These idiots are putting us straight into a forced recession.
Hey as long as the Liberal Progressive Dems die a painful death, who gives a shit.
Bring the pain.....
May the dipshits like you who still buy into the false Team Red/Blue paradigm die the most painful death. Stupid fucks like you don't know the difference between liberal and progressive nor that your supposed GOP saviors are anything but conservative.
If stupidity was painful you'd be bringing it to yourself 24/7...
If stupidity was painful we would all be in flying cars and have second homes on mars by now.
or as my dad used to say "if God shit little nickles, I'd be rich by now".
+3000
US has 2 things going for it, fracking and weapons manufacturing. Get ready to learn how to Love the Bomb boys!
If there are any dipshit in the world you are it. People who claims independent or nonalign with any party. You're what's wrong with this country with your socialist tolerance that's destroying the rest of us. Just shut your Obama piehole and go back to your Ferguson riot.
You proved your GOP sychophant credentials right there. A post full of stupidity and grammatical errors. You're the Team RED target demographic for sure :-)
Can we have it monday? PPPLLLLEEAAASSEEE
Great Depression+ 2015-....
a crash is a good thing, not a bad thing
Down down down. Into the ring of fire! Sing it cash!
http://hedgeaccordingly.com/2014/11/saudis-block-opec-output-cut-oil-pri...
please explain
I guess you mean October 1987 style crash. The dow ended up 8 points over the year 1987.
Ahhh, Nooooo!
Took 2 years for the Dow to regain post crash levels.
hmmm Saudi must not be happy with US
saudis are engineering this
Justr wait until the House of Saud announces they will be going with the new BRICs bank. Then its over.
Saudis are getting the two birds with one stone.
1) They are monkeyhammering Putin for meddling with Iran/Syria.
2) They are trying to squish Shale and US oil production as a "two-fer"
What do you think decades of Saudi savings are for? Throwing the weight around. Most Americans are ok with this because its savings at the pump...oil companies might be okay because just because oil is worth less, doesnt mean they lower refined gas that much and preserve margins
my logic agrees as they are NOT trying to control the price in markets they can no longer control. OPEC now has desparate members than can not/ refuse output cuts(venz, liby iran). SA knows that the price will be temporary as the marginal producers will snuff themselves via cheap credit overextension. billions will disolve to stronger hands. outcome predetermined? hmmm...
If you like your depression you can keep your depression.
Silver's gettin' takin' to the woodshed too. In unrelated news, JMBullion has Libertads on sale...Black Friday and all...
I think both falling oil and Swizz votes are playing on Silver and Gold.
Someone knows how the Swiss vote is going to turn out ahead of time.
lots of press and words, but reality is front run once again...
gold should be stabble with all else moving around radically, but hence
signs of the time;, back ass backward manipulated markets...
fuckit all, on sidelines with a smirk!
I felt a huge disturbance in the force, like millions of neoconservatives crying out...
Yep, just one more reason to start WWIII! The question is, who is funding the Russians this time? US banks and corporations basically financed and equipped their entire military complex for most of the Cold War, including the Vietnam War. The whole, "funding both sides" thing.
Pull it.
Anyone quoting Larry Silverstein will always get a +1 from me, I can't help it.
Can always turn it into Vaseline. We'll be needing plenty, soon.
What a horror show all of these fucked up markets have become. Death throws. Twitch twitch twitch.
And with the $5 I saved at the pump, I am going to BestBuy to pick up another $500 flat screen TV that I don't need!
I saw an ad for 40" flat screens for $119 at Target. How the fuck do they make money on that?
Look at it another way, you are paying them to put a device with questionable components in your home.
...they'll make it up in volume.
But seriously folks...big screen tv with wifi, streaming movie service, etc built in? Sounds like giving away coffee makers...just don't forget it's a paperweight lest you buy the pods from the manufacturer.
If the Chinese factory owner makes $1 and sells a million units he's a millionaire.
Besides, they're moving inventory to crush any competition and production elsewhere (Japan, Korea).
Also, it is a "loss leader" that gets you into the store, and when your Spouse buys a 3-pack of underwear for $15 and your kid buys a $30 iPhone accessory, and you pay $25 for a 6' HDMI cable the store made what they need.
That's what Amazon is for.
It should surprise nobody that OPEC wouldn't cut production. The frackers are killing themselves.
This is nothing more than a plan to knock down huge part of Russian economy. We'll show tnem it's not polite to sell oil inRubles. We just won't attack you like we did Saddam! At least not yet. In the meantime we'll just take over your old satellites
Unfortunately, it's working great our highly leveraged home grown industries. The Russians debt to GDP is only about 16%, and they have practically no debt held by other countries. Hmm... who's going to win this one?
Good points, but they also have almost no exports, except oil and some highly suspect military crap.
Putin may yet get rolled on Syria, but the oil price is a sea change. May not have started out that way, but it will change many power balances.
agreed. question to y'all? planned by s/a merica, or let it roll market forces of extinguishing the marginal producers withh billions of debt fallout?
That is different from US how?
I don't think it is that simple, this is OPEC not just KSA... and it's actually not just OPEC since KSA, Venezuela (somewhat), Russia and Mexico are also on board, and announced that agreement on Tuesday. Venezuela (understandably) might not be entirely happy, but the drama queen performance would appear to be show, given the earlier events. Moreover, if this was primarily targeted at Russia, Venezuela probably would have mentioned it during the temper tantrum.
It looks to me like Algeria, Angola, Ecuador, Iran, Iraq, Kuwait, Libya, Nigeria (who was forced to devalue and whose overnight lending rates doubled), Qatar, Saudi Arabia, United Arab Emirates, Venezuela, Russia, and Mexico are all in this together -- which would imply bathhouse hasn't been bowing deep enough or sucking the right cocks...
boy o boy- no way to control that many theives all at once. but surely some blow and jobs in castles far away...
This is nothing more than a plan to knock down huge part of Russian economy. We'll show tnem it's not polite to sell oil inRubles. We just won't attack you like we did Saddam! At least not yet. In the meantime we'll just take over your old satellites
"If you have a milkshake, and I have a milkshake, and I have a straw. There it is, that's a straw, you see? You watching? And my straw reaches across the room, and starts to drink your milkshake ... I ... drink ... your ... milkshake! Sschhlllluuuuurrrrrrp. I drink it up!"
I loved this movie. I loved just how brutal this guy was. I would love to see him go up against Heisenberg
I guess that Swiss gold vote has the silver stealer's panties in a wad. There is no break from the continuous dumpage today.
Gold has been thumped, silver is lying in a pool of blood and they're going after its family.
Nobody wants it higher now, weak hands have already puked, strong hands will just pick away and the banks need to cover about a billion ounces.
You guys are missing the point. The OPEC cartel WORKED....until a marginal amount of Baaken oil/ ISIS oil got into the marketplace. Price colusion / ripoff has marked the price of the stuff up for decades and now those inefficencies/thievery is breaking down. Oil is actually very plentiful....the lower price bound is production cost/profit. You don't think so? Look at diamonds for another example. Peanuts. Sugar.
Demand has an influence too but with the cartel markup in play it was take it or leave it. So high price throttled demand. Now watch as the price wobbles as demand adjusts to a 'free market'.
From the WTI chart one can clearly see, when QE started and when it ended. It can crash to $10 in a very short time (it took 6 months from $140 to $30 last time), too little time for the FED to turn around again.
And the "cheaper gas is a tax cut for consumers/they will increase consumption" meme will not die; 9 lives, Morris.
While targeting Russia and Iran, CIA-Obama will get rural social unrest with the collapse of the rural shale and oil boom--two birds with one stone.
Him, and his CIA, and Zionist, masters, will then be able to man their "ReadyReserve" and FEMA camps with angry and destitute young, white, rural youth. I wonder if their uniforms will be brown? Add a bit of evangelical Christian ideology, and...
An American, not US subject.
If one studies the rise of the Nazis, one will find that most early supporters, the Brown Shirts, were angry and destitute rural youth.
BREAKING NEWS....
the Dow just went green again!!!!!!!!
Alibaba Massive Fraud
Unrelated, but I believe highly important none the less. We have some smart people on ZH and curious if anyone else has heard or read about this. I am hoping someone that has the time and resources can look in to this and do some homework.
I was listening to The John Batchelor Show one night about a week or so again. He is on the radio and can be found online. Incredibly well versed on many international topics and world history. I highly recommend you tune in to him when you have a chance.
In any event, he had three guests (from China) on and the discussion was surrounding a massive fraud at Alibaba. The story goes something like this. Alibaba is a marketplace and they collect a fee on each purchase from merchandisers that operate via their website. Alibaba understands net profits and margins are of little concern to Wall Street, but growth in revenues and now we are talking. Many multiples for "growth" in a global economy that is barely creeping along. So, Alibaba hires a network of thousands to simply buy and return products all day. If Alibaba held inventory this fraud would be somewhat more difficult to pull off, but with thousands of businesses connected to Alibaba it is very easy to hide the costs of labor and returns in underlying (most likely very closely held) companies. Afterall, billions of $'s in stock price appreciation will pay a lot of people to sit on a computer all day and buy and return stuff on their website.
This is massive securities fraud and according to the guests, the scheme is "well known" in China. Besides the financial statement fraud, one would have to wonder what type of due diligence was done by the investment bankers that brought Alibaba to market?
I don't know about you, but I think this could be a watershed Enron-like, Madoff-like story.
That's China for you, and Wall Street.
Due dilligence and banks - never the twain shall meet.
But I love Jack Ma. He's not Forrest Gump, he's better. Ronald McDonald comes to mind.
I am shocked, shocked I say,
that they are no different from the rest of the Chinese "market."
Sales must be great from the ghost cities.
And then think about it, if they truly wanted to stop this, which they don't, but if they did, they couldn't, as the resulting "fire" would bring down the whole stinking edifice.
An American, not US subject.
And thinking about it a bit more, imagine this call to CIA-Obama from Xi: "Lick our boots or we'll reveal the fraud at Alibaba and topple your skyscrapers of cards markets."
the most interesting - that's is actually very funny for me. because i have an experience/knowledge that it seems few people have (and many don't want to hear, because they want to believe that 'their' favorite hit was a favorite hit. (who cares??)
the recording industry in the 60 - 70- 80's
airplay was based on how many records you sold 'top of the pops' was supposedly based on sales.
so some of the major record companies would get their interns (meaning working for free) to run around to all the record stores and physically by up all the chosen records available. think how many records they could round up. and there was no loss, they box them up and ship them out again the next day.
amazing how mankind learns a scam and repeats it.
The Christmas shopping is getting front run in a big way... I'll bet the numbers after this weekend turn to complete shit.
Even if retailers and the MSM talk about volume and try to pump overall numbers their margins are so thin I could shave with them.
Look at the prices they have to charge to get Grandma on her Little Rascal scooter, into the store in the first place.
exactly
last night and today high water mark
retailers have been pulling forward sales ever more recently ... NRF reported that 40% of people started holiday shopping BEFORE halloween
But, but, but runaway INFLATION from MONEY PRINTING! This can't be happening. They are faking the oil prices. Oh, what a world, what a world!
Forced recession? We are in a depression and have been. Oil price decline just finally confirms it.
But talk to Lady Ladue at the gas station filling up. She doesn't get it as long as long as she can fill up for less--it's a good thing that prices are declining. Means there's more to spend of husband's money at Needless Markups and Saks.
The eyes just glaze over when you talk about the implications of an oil price crash.
Enjoy the holidays.
10yr yield @ 2.18%
What's really getting scary is that the usd/jpy <>US Treasury correlation is diverging.
That means the BOJ is starting to lose control of the situation and speculators are jumping on the MOMO trade that usd/jpy has become.
Things are moving so fast now it's hard to see the wheels staying on for much longer...
+7.
Lagardes' little prophesy about 2014 still has time to unfold.
I'm still thinking over the Xmas holidays.That when I would pull something if
I were planning it.
If WalMart sold affordable health care, advanced education, and safe neighborhoods, there would be a good reason to shop there. Every time you set foot in a WalMart, you exacerbate income inequality and strengthen plutocracy in America.
Nobody sells that stuff you referenced...
Celebrate, OPEC is done! Panic, because the oil age is in its death throes!
Need wheat prices to spike and make this sh!t interesting in the Opec countries.
FIre back up the printing presses.
Yup, Checked the gas, spark plug is ok. Don'r know why its not starting. One last pull on the chain...it's just gotta catch this time.
Attention all Zero Hedgers -
Oil's down BIG
Gold's down BIG
Ruble's down BIG
Vlad's crying himself to sleep tonight with his finger on the trigger. Hope he doesn't lose all hope and put a bullet through his head!
If each of you Western Union the Russian government some money, perhaps it can soldier on a bit longer. Remember, Vlad's burning through his currency reserves like crazy now that everything he trusted in is going tits up.
Let's all pull together for Vlad! In return, he'll probably expedite our citizenship applications and pay us a visit in Novosibirsk for a victory lap!
When financial problems occur in the energy sector it is often accompanied by political instability and sometimes her ugly sister war. As a rule the economy loves stability, bottom-line dropping oil prices means more risk for an already shaky world economy. All this is being complicated by the recently strong dollar. The dollars strength and the rising American stock market could also be taken as a sign of an unstable global economy.
When a strong shift in currencies occurs someone usually gets hurt and this can lead to bankruptcy, default, or contagion. A great deal of the shadow banking world overlaps and falls into the grey world of derivatives. The total derivatives market has grown to a massive size. It includes hundreds of trillions of dollars in over-the-counter non-reported agreements and private contracts and is estimated to be over 20 times larger than the global economy. Everyone paying attention knows that even a slight problem in a market this size could collapse the whole economic system. The article below delves deeper into the problems caused by falling oil prices.http://brucewilds.blogspot.com/2014/11/dropping-oil-prices-increase-risk-to.html