He is right.
The oil melt down is caused by falling prices. Falling
prices are caused by lack of future demand because of
corona-virus. If the energy sector falls, it will spread
to the financial sector and then we are in trouble.
A 1,000 point rebound on a 2,000 point collapse is not
sustainable. The President must get engaged. A payroll
tax is always great — but, this will require more.
what do you suggest?
You completely ignore the oil production war between Pootie and House of Saud
That’s what drove spot to under 30
A war
Urals versus OPEC basket
The drop in oil prices was caused by the Saudis trying to stick it to Russia. There was a failure to reach agreement of the latest OPEC pact and the Saudis are trying to squeeze Russia. It doesn’t have anything to do with the coronavirus.