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“They Spent It All On Hookers, Blow And Fancy Toys” – Hedge Fund Manager Predicts Lower Oil For Longer, Quantitative Easing For The People, And A Gold Bull Market
“They Spent It All On Hookers, Blow And Fancy Toys” – Hedge Fund Manager Predicts Lower Oil For Longer, Quantitative Easing For The People, And A Gold Bull Market In 2011, as gold prices rocketed to $1900 and oil was trading above $120 a barrel, there were few analysts who saw anything but further gains. […]
B.C. LNG: AltaGas shelves Douglas Channel project near Kitimat
B.C. LNG: AltaGas shelves Douglas Channel project near Kitimat Company says decision due to poor economic conditions and worsening global energy prices. Another LNG project in B.C. has been shelved in response to falling global energy prices. (CBC) In another blow to B.C.’s nascent liquefied natural gas industry, AltaGas Ltd. is shelving the development of its Douglas […]
Widespread Credit Downgrades Likely For Oil Producing Countries
Widespread Credit Downgrades Likely For Oil Producing Countries Plenty of oil commodity producers are in trouble, and that includes more than a handful of countries whose economies are heavily dependent on oil, gas, and other natural resource exports. In the 1980s, a wave of defaults swept emerging markets, with a large portion of the blame […]
Europe Moving Into Meltdown?
Europe Moving Into Meltdown? QUESTION: Marty, now the OECD is predicting a financial crash worse than the 2007-2009 event in Europe because they say there is over €1 trillion in bad loans that cannot be collected. They seem to be also changing their opinion to fit your model. Were they there in Berlin? ANSWER: We cannot comment on […]
Loonie Lurches To 13 Year Lows As Crude Nears ‘2’ Handle
Loonie Lurches To 13 Year Lows As Crude Nears ‘2’ Handle Today’s renewed plunge in WTI Crude (on the verge of a ‘2’ handle any second) has extended the Canadian Dollar’s weakness (among many other oil producers). For the first time since early 2003, the Loonie is worth less than 70c… (anyone for skiing?) This can only […]
How Big is the Bust in Commodities Really?
How Big is the Bust in Commodities Really? Have all the “Supercycle” Gains been Wiped Out? We have frequently come across articles lately that are purporting to show that commodity prices have in the meantime declined below the lows that obtained at the start of the last bull market. Yesterday Zerohedge e.g. posted a chart from Sean […]
The Geopolitics of Cheap Oil
The Geopolitics of Cheap Oil The market was supposed to save the planet. That, at least, was the argument of many economists grappling with the problem of climate change. As fossil fuels became scarcer, they pointed out, the price of oil and natural gas would go up. And then other options, like solar and wind, […]
Canadian dollar dips below 71 cents for 1st time since 2003
Canadian dollar dips below 71 cents for 1st time since 2003 Oil and threat of global conflicts weigh on risky loonie The Canadian dollar is dropping to levels not seen since the summer of 2003. (Pawel Dwulit/Bloomberg) The Canadian dollar lost more than half a cent this morning, pushed down by oil prices and widespread […]
What Comes After The Commodities Bust?
What Comes After The Commodities Bust? The days of E&P companies using external debt financing to fuel growth have most likely come to a close. The one thing executives should have learned in 2015 is that Wall Street can for long periods of time remain disconnected from fundamentals and can swing to extremes. Another lesson […]
Nassim Nicholas Taleb on the Real Financial Risks of 2016
PHOTO: GETTY IMAGES Nassim Nicholas Taleb on the Real Financial Risks of 2016 Worry less about the banking system, but commodities, epidemics and climate volatility could be trouble How should we think about financial risks in 2016? First, worry less about the banking system. Financial institutions today are less fragile than they were a few […]
This Is Going To Happen In 2016: “One Of The Greatest Commodity Plays Of All Time”
This Is Going To Happen In 2016: “One Of The Greatest Commodity Plays Of All Time” While stock markets held strong near their all-time highs, the last year saw massive financial destruction in global commodities markets. Oil, gold, silver, steel, coal and other raw materials experienced price drops not seen since just before the the Crash of 2008. […]
America’s Top Shale Gas Basin in Decline
America’s Top Shale Gas Basin in Decline The natural gas drilling frenzy is grinding to a halt, as the industry struggles with excess supply. Natural gas prices have plunged to their lowest levels in more than a decade this month, dipping below $1.80 per million Btu (MMBtu). The shale gas revolution is an old story […]
Christmas Present
Christmas Present Theory du jour: the new Star Wars movie is sucking in whatever meager disposable lucre remains among the economically-flayed mid-to-lower orders of America. In fact, I propose a new index showing an inverse relationship between Star Wars box office receipts and soundness of the financial commonweal. In other words, Star Wars is all that remains of the US economy […]
