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Stockman's Prescient Prediction
This weekend, I was thumbing through my highlighted copy of David Stockman's The Great Deformation (about which I wrote a lengthy and over-the-top laudatory review last September here) when this passage caught my eye:
In case you've been helping Elon Musk establish the new Martian Colony over the past nine months, you might have missed what's been going on with black tea:
(Incidentally, I wouldn't get too excited about the bounce we've seen over the past couple of weeks; unlike Cramer, I don't think this "smells like a bottom" - - but that's probably a field of study about which he's better acquainted than me. But I digress..........).
On the one hand, oil has indeed fallen to $50 (and well below it) as Stockman anticipated; on the other, if there's a worldwide recession going on (and perhaps there is, the very beginnings of one), it sure isn't yet apparent from the mass media.
Perhaps, as in 2008, commodities are a very large canary in a very crowded coalmine. I am highly confident Mr. Stockman's prediction about North Dakota is going to come all too true. And, as a parting shot, I must suggest (nay, insist) to those who haven't bought and read the book - please do so. It is excellent, from beginning to end. There are many other predictions in the book which will probably unfold much as the one regarding crude oil has.
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If the Federal Government were thinking strategically it would hire all thos roughnecks and rigs and put them to work building up our strategic petroleum reserve with $45 oil.
Yes, and using Chinese and Russin money to do it.
Yes, and using Chinese and Russin money to do it.
With Uncle Sam in charge, it would " only " cost about $250.00 a bbl to get that $45 oil. And all the "new" .gov employees will get gold, eh, PLATINUM plated benefits and pensions.
The real costs will probably approach $4-500 a bbl.
Great plan.
If the Federal Government was thinking strategically, then hell just froze over.
I'd prefer that they work building the fence between the U.S. and Mexico...
A double fence, with land mines.
ISIS might could get through it. Just ask SA.
Yes. We let monopolies form all the time. But we need national buffers, national stock piles, and to recognize some things like food, water, energy, Credit as utilities we all need. Maybe Credit needs some exposure in this light along with banking.