Posted on 08/16/2015 4:24:40 AM PDT by SkyPilot
Maybe Trump believes this too, so is willing to spend a billion to be part of the solution.
It puts a lot of people out of work.
Naw, the republicans in Congress will be blamed for not going along with dear leader.
No democrat will ever get any blame for what’s their fault so long as there’s a single republican in office with them.
Red herring. Anyhow, the doom and gloom crowd will always eventually be somewhat right. Though they probably missed the Dow from 6.4K to 17.4K ride.
These people are perpetually scaremongering. In weak people it causes a type of mental paralysis. They sit at home reading the same crap over and over. They would be better off reading nothing.
Same with Fahrenheit 451.
The only difference is they don’t burn the old books anymore, just “deconstruct” them.
Usury burns those who practice it.
Anyone, including companies that moved manufacturing to China are instantly loosing 10% of their investment.
Look for companies having to take huge charges at quarter end and year end. Some will choose to take it all one lump to clear their books of it, while others will try to spread it’s impact over the year.
This change both makes it harder for companies to remove capital valued in RMB out of the country and also makes them think twice about turning their dollars into RMB investments.
Chinese Manufactures have to import almost all their raw materials in dollars. So their price in USD will remain almost the same since most items manufactured in China have <5% labor content.
Bottom line, their estimates on what this will do to their exports are way off, these estimates are based on the old model of larger labor content for Chinese Manufacturing.
In the end, we will see how spectacularly this fails and just creates a race to devaluation in the region.
Lower prices for gas/diesel is a blessing for the "regular guy", we are getting a break for once. And we have more $$$ for other things.
Statements like below drive me crazy.
And back in December 2014, “Bond King” Jeff Gundlach had a serious warning for the world if oil prices got to $40 a barrel. “I hope it does not go to $40,” Gundlach said in a presentation, “because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be — to put it bluntly — terrifying.”
I know it irritates you when folks predict the doom and gloom, but many of us were/are acting out of self-defense. Funny how the economy can suck so bad and the markets do the yo-yo deal time after time where the big money folks who can keep a minute-by-minute finger on the pulse (and even add impetus to the pulse in both directions) can keep vacuuming profits out in each direction. Why does it seem that we head for new highs and once a certain trigger point is reached, it all goes back down: time after time after time? It feels like the big players know there is a saturation point and that they can play all they want as long as they don't push it too far. The average person isn't well versed enough to know which signs are part of the "new normal flow" and when it might actually tumble down around their ears - hard to blame them for being skeptical after a couple bad burns..
Unless you live in West Texas, invested in American oil companies, and don’t want to go back to dependence on on the Saudis for oil.
Only to those that are in the oil industry. I live in oil country here in Texas and I can tell you the panic is setting in.
Obama is smiling that the oil industry is in deep trouble.
I read recently that besides mortgage debt, 80% of all debt owed by consumers is automobile debt.
That is a staggering number.
People are taking loans for 72 months, on cars and trucks!
Some people are shelling out close to $80K for a new truck. The average price of even your "turtle" look alike clone car is over $30K.
The auto industry has ramped up production, but the cars are not selling. They currently have massive quantities of unsold inventory.
I am with you, in that I like paying less for gasoline and energy.
I do also concur with many economists, however, that the crashing price of oil is a sure and certain sign that the global economy is on its death bed.
The price of oil is one of the key barometers of the economic weather, like it or not.
As it says in the article posted:
"And back in December 2014, “Bond King” Jeff Gundlach had a serious warning for the world if oil prices got to $40 a barrel. “I hope it does not go to $40,” Gundlach said in a presentation, “because then something is very, very wrong with the world, not just the economy. The geopolitical consequences could be — to put it bluntly — terrifying.”
The following are 10 things that are going to happen within 15 days of the end of the Shemitah…
September 14th – Rosh Hashanah
September 15th – The Jade Helm military exercises are scheduled to end.
September 15th – The 70th session of the UN General Assembly begins on this date. It has been widely reported that France plans to introduce a resolution which will give formal UN Security Council recognition to a Palestinian state shortly after the new session begins. Up until now, the U.S. has always been the one blocking such a resolution, but Barack Obama has already indicated that things may be different this time around. If alarm bells are going off in your head as you read this, then you probably already understand how significant this event could potentially be.
September 20th to September 26th – The “World Week For Peace in Palestine Israel” sponsored by the World Council of Churches.
September 21st – The UN International Day Of Peace. Could this be the day when the UN Security Council resolution establishing a Palestinian state is actually adopted?
September 23rd – Yom Kippur
September 23rd – Pope Francis arrives at the White House to meet with Barack Obama. Some have suggested that the timing of this event is highly unusual…
“Francis is the 266th pope who will be meeting with President Obama on the 266th day of the year, leading one Internet preacher to wonder if “something is being birthed” on that day, since 266 days is the typical human gestation period from conception to birth.”
September 24th – The Pope addresses a joint session of the U.S. Congress.
September 25th to September 27th – The United Nations is going to launch a brand new sustainable development agenda called “The 2030 Agenda“. The following is an excerpt from an article that I just wrote about this insidious new plan…
“If you didn’t like “Agenda 21″, then you really are not going to like “The 2030 Agenda”. Next month, the United Nations is going to launch “The 2030 Agenda” at a major conference that will be held from September 25th to September 27th in New York City. The Pope is actually traveling to New York to deliver an address which will kick off this conference. Unlike Agenda 21, which primarily focused on the environment, the 2030 Agenda is truly a template for governing the entire planet. In addition to addressing climate change, it also sets ambitious goals for areas such as economics, health, energy, education, agriculture, gender equality and a whole host of other issues. As you will see below, this global initiative is being billed as a “new universal Agenda” for humanity. If you are anything like me, alarm bells are going off in your head right about now.
September 28th – This is the date when the Feast of Tabernacles begins. It is also the date for the last of the four blood moons that fall on Biblical festival dates during 2014 and 2015.
What China did this week solidified a horror - that the charade is over, and every other economy (especially ours) will be hit, hard.
Amen.
I drove past three abandoned strip malls this week, and all I could ponder in my mind was that the Depression we are in is deep, but no one acknowledges it.
I wonder if the coming crash will make the Great Depression of the 1930s look like a cake walk.
Since last spring, North Dakota has been feeling the panic as well.
http://www.the-american-interest.com/2015/03/14/oil-price-crash-sends-north-dakota-reeling/
Amen.
Markets Vs Economy - The Great Disconnect
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