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World Bank Warns Of Extreme Volatility In Oil Markets
World Bank Warns Of Extreme Volatility In Oil Markets After several months of oil price rises and then a sharp reversal over the last few weeks, world oil markets are in for more heightened volatility next year because of scarce spare production capacity among OPEC members. This warning comes from the World Bank, which in […]
Charles Hugh Smith: Preventing The Final Fall Of Our Democratic Republic
Charles Hugh Smith: Preventing The Final Fall Of Our Democratic Republic Fighting against the obscene concentration of wealth & power There’s mounting evidence that the Age of American Exceptionalism is grinding to an end. Demographically, in the U.S. (as well as many other developed nations), the prospects of the younger generations are substantially less than […]
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm
Loonie Slumps As Bank Of Canada Folds On Economic Enthusiasm Amid near-record-low Canadian crude prices and a housing crisis, The Bank of Canada appears to have finally given up its narrative that ‘everything is awesome’. The BoC walked back much of its enthusiasm about the nation’s outlook in a decision that kept interest rates unchanged, […]
Empty Words Are Failing. A Timeline For What Comes Next
Empty Words Are Failing. A Timeline For What Comes Next A quick recap of the past couple of months: Stocks plunge. The politicians, bureaucrats and bankers who depend on artificially-elevated financial asset prices start to panic. The Fed announces that maybe it won’t have to raise interest rates any more, and the president announces a temporary […]
Alberta’s Problem Isn’t Pipelines; It’s Bad Policy Decisions
Alberta’s Problem Isn’t Pipelines; It’s Bad Policy Decisions Bitumen prices are low because the province has ignored at least a decade of warnings. In 2007, an Alberta government warned that bitumen prices could eventually fall so low that the government’s royalty revenues — critical for its budget — would be at risk. Photo via Government […]
Blain: “Are We Backing The Wrong Country In The Saudi-Iran Race”
Blain: “Are We Backing The Wrong Country In The Saudi-Iran Race” As excerpted from Blain’s Morning Porridge, submitted by Bill Blain Where do we go from here? I’ve said it a few times already – 2019 is likely to see the start of the New Market Reality. Although some pundits claim yesterday’s sell-off was due […]
Stability without Growth: Keynes in an Age of Climate Breakdown
Stability without Growth: Keynes in an Age of Climate Breakdown What do Keynesian Democrats think about the movement for post-growth and de-growth economics? Dean Baker, a senior economist at the Center for Economic Policy Research in Washington, DC, has given us some insight into this question. In a recent blog post, republished by Counterpunch, he […]
Iran: Oil To Fall To $40 If OPEC Fails To Reach Deal
Iran: Oil To Fall To $40 If OPEC Fails To Reach Deal A fractured OPEC is meeting later this week to discuss a deal to cut oil production—yet again—to rebalance the market and lift oil prices that have recently slipped to below most of the cartel members’ budget-balance points. OPEC needs a unanimous vote to […]
Is This The Next Disaster For Canadian Drillers?
Is This The Next Disaster For Canadian Drillers? The government of Alberta this week took an unprecedented decision to enforce a crude oil production cut so excess inventories could be shrunk and the price of western Canadian grades could improve, but the industry’s problems are far from over. They will be among the hardest hit […]
Do Coins Reveal the Futility of our Times?
Do Coins Reveal the Futility of our Times? The study of coins, numismatics, has constantly expanded our knowledge of antiquity in recent decades through new discoveries which have proven so many old theories wrong and turned academics on their head when it comes to their theories. Without the consideration of the coins, many questions of […]
The Art of Defaulting
The Art of Defaulting … the debt-financed overspending of the 1960s had continued into the early 1970s. The Fed had funded this spending with easy-credit policies, but by paying back its debts with depreciated paper money instead of gold-backed dollars, the U.S. effectively defaulted. Ray Dalio Principles for navigating big debt crises Ray Dalio of […]
Macron Folds: France Suspends Fuel Tax Hike After “Yellow Vest” Riots
Macron Folds: France Suspends Fuel Tax Hike After “Yellow Vest” Riots With his popularity rating at record lows (recent polls put it at around 26%, on par with Hollande), his capital city burning and the populists he defeated during his stunning electoral victory last year making serious electoral inroads, French President Emmanuel Macron finally caved, […]
IT BEGINS… Rapidly Falling Oil Prices First Guts Tar Sands, Then Shale Oil
IT BEGINS… Rapidly Falling Oil Prices First Guts Tar Sands, Then Shale Oil The rapidly falling oil prices have finally claimed the first victim, but it won’t be the last. The Alberta Canadian government announced late yesterday for a substantial cut in tar sands oil production to stem the hemorrhaging low oil price. The price paid […]
