WTI Crude Collapses To $30 Handle, Stocks Plunge As Rate-Hike Odds Tumble
With rate hike odds for March plunging from over 55% a week ago to just 38% now, it appears faith in The Fed has utterly failed. WTI traded down to $30.97 - the lowest ssince Dec 2003.
Fed #Fail...
WTI punched lower to a $30 handle for the first time since December 2003..
and that has dragged stocks back into the red...
(10 votes)
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TurmOIL is finally starting to happen. Took long enough...
Beds are burning - midnight oil.
https://www.youtube.com/watch?v=ejorQVy3m8E&index=120&list=PLEB62A95CB8D...
Hmmm, after that Fed rate hike seems like they've gotten themselves into a bit of a pickle.
Feds of folly fa- la-la- la-la La LAAAAA!!!!
sung to that famous christmas tune.
Fa la la Christmas Songhttps://www.youtube.com/watch?v=X0oFJXa26vY
Don't look for gas prices to drop anytime soon as corrupt and bankrupt grubbmints try to squeeze every last penny of taxes out of every single gallon of fuel sold.
Ask yourself why, if crude is only 30 bucks a barrell, how come gas is still around 2 bucks a gallon?
Indeed.
The Citizenry have been aclimated to the gouging.
$140/bbl. <> $4.00/gal.
$31 ÷ 140 = .2214 <> $4.00 X .2214 = $0.89
Stricktly speaking: IF the price of a barrel is the prime determinant in the price of gasoline at the pump the price is still approximately 100% HIGHER than what it should be.
How much of this 100% is pure gouging and how much is unrelated expense beyond pricing of the underlying commodity is open to discussion...
Gasoline futures dropped through the floor starting last Thursday. Gas prcies are getting there soon.
You still have taxes on all of it, and even if it went to zero, places like Chicago would still have at least a $0.50 take per gallon.
Dr copper needs a nurse , it's worse
Nonsense, this should be just the encouragement the Fed needs to jack it up 100 bps. After all, the real economy is merely a figment of our fevered imaginations......
The Fed done shocked da monkey!
That whacky weedus you grow comes in handy at such times.
Don't bogue out. Pass the bong!
As they say in Iran, "Holy Shiite!"
First comes the deflation..... THEN comes the hyperinflation!
GET THE FUCK OUT OF PAPER and hurry your ass into physical commodities.....
For it is all good, until it's not!
Go long beans and cornbread......
And Bean-O.
.... and long cowries shells!
Yeah, let's panic buy some historically overpriced commodities.
Nah, just sit on your fiat ass until it's only worth is to wipe it.
HISTORICALLY OVERPRICED COMMODITIES??? Come on brother.... pull it out.... and stop believing what the so called "experts" are saying, for they are trying to swindle you. Let history be your guide!
The "overpriced commodities" you are referring to has already capitulated and gone through it's deflationary cycle......
Here is a look at the S&P chart, inflation adjusted! http://www.macrotrends.net/1324/s-p-500-earnings-history
Notice that the price of stocks in the s@p right now is at the ALL TIME FUCKING HIGH and triple topped? Looking at the chart via the link I posted above, Dont you see stocks are due to deflate, just like the commodity sector has already done the for the last 3 years?
Economics 101..... buy low, sell high...... rinse and repeat
I know this is an unpopular message. But, this drop in prices is only a case of the sniffles. After the ensuing commodity countertrend rally, we'll see what real once-in-a-100-year deflation is all about.
In less than 20 years:
crude oil <$10/bbl
gold <$300/oz
Quick, without googling..... can you name the one company who's stock price actually INCREASED the most, multiple times more than every other company on the exchange, during the great depression?
History maybe wont repeat itself, but it will definitely rhyme.
Sure oil will take a dump, but the money of kings?
You might want to brush up on HIStory before posting more keyboard diarrhea.
Dayum.....
Jethro!! I saw your relatives in Kyoto and Nagano!
We are everywhere....
Tell me about it. Your cousin tried to climb my ass!
Another cousin was hanging on some dope's backpack swiping at his foodbag!
Would have made a great Youtube moment.
So far, the best chimpout videos are at Worldstar.
didn't think i would need my Dow 15000 hat quite so soon!!!
Me either but don't you love this shit? Justice is coming soon enough!
Cue the next Fed president to say how they messed up.
You forgot to hit the BUY BUY BUY button!
maybe someone will finally snuff cramer out, got to be one or two crazy enough m'fs that lost a shitload thanks to him...
dwti at 322/share....every penny down in price is now 31 cents higher in dwti !! those leveraged etfs are so dangerous!
when did dancing with the the stars go public? brilliant!
quick, some CB chair needs to say something, anything before this sucker goes down! (or not, that would be fine with me, best week in 3 years)
Or maybe someone from the biggest company in the world
TIM...... where are you buddy? Can you do us all a favor and email Jim..... so he can read it on air and calm everyone down!
what ever happened to the "stocks are ripe for a ripe your face off rally" guy that was called for back in Mid December?
turned out to be a rip your ass off decline.
Gregoery Mannarino - guess he failed pretty big on that Jan call. Whoops his other call will be rigth, dollar crisis
Calling EconMatters, EconMatters, please report to analyst school 101. This is NOT the bottom of the oil market, into the 20's it goes.
Imagine that, a blue collar dummy can look at a professional market analyst on ZH and call him on nonsense.
"Nobody told me there'd be days like these, most peculiar momma..."
That should keep the muzzies out of Canada.
Saudi and the West believe they have a six month window to push Russia into fiscal crisis by pushing oil down to single didgets. The push is on, the results remain to be seen. But it is obvious that global economic weakness combined with an oil surplus has made this "the moment" to pressure Russia to snap. Will it work? Well, there must be now violent outbreak that threatens a major oil producer. Otherwise, the USA has written off fracking as a feature of free money and a peak in oil prices. Saudi is pumping for all it is worth, oil that costs a buck at the well head. It's a desperate plan, with wide cosequences, but does show the real fear that Russia is rising as a world power that will not fall to the west's color revolutions.
This next half year will be interesting.
"This next half year will be interesting"....Understatement
Sometimes war starts becaue of scrap steel other times it starts because Oil prices are driven into the ground.
Jack, do you think Russia will foil? And if Oil hits 7 bucks like you said, what is your ideal thinking of the next half?
Sir, you said it much better then me^
Hint at QE4 in 5,4,3,2,1.....
Faith in the FED hasn't utterly failed as the article implies. Gold down today and under $1,100. When faith in the FED truly fails gold goes to $1,500 - $2,000. The price of gold is inversely correlated to the faith investors have in the FED. As the gold price indicates, the FED is still in control for now and thought of God-like by the investor crowd.
It sounds like what your describing is (at the least the beginnings of) a currency collapse. If that happens, then it's Katy bar the door
Crude oil is coming down to its true market price that corresponds to reality of collapsing world economy loaded with debt that devours almost all world's income of ordinary people. What's the price? 1$ a barrel.
That's right, one buck a barrel if FED wont' print the profit and cover exploitation costs via hyper bailout or bail-in or other financial/monetary trickery.
In such a case I am calling the market: S&P 100 and DJIA 3000, 1500 in 401k abolished, but that won't happen until they run out of lampposts to hang all those thieving oligarchs and their DC stooges.
More on that can be found here:
https://contrarianopinion.wordpress.com/economy-update/
COMMODITIES IN THE DEFLATIONARY COLLAPSE: NOT EXACTLY.
With that logic, if oil were free, then gasoline should be free. Despite refining and transport costs?