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@wolfgang59 saidA title that describes the topic. You were the bearer of bad news. You would be the doctor saying good morning, you have cancer.
Good Morning is just a friendly greeting, what should I have said?
If I was meeting a doctor in the morning I would probably expect
him to say "Good Morning" - whether he had good or bad news
for me. It would be most peculiar for him not to.
@wolfgang59 saidYeah, it's still as bad as expected.
FTSE down another 7% after a few minutes of trading.
Back to 2011 level.
Crude down about the same .... that's -50% from its peak 3 months ago.
The US will open with a huge drop. And the next three weeks will be overall negative with a few days of mean reversion.
If the US is hit as hard as Europe with the Corona virus, we'll see the US closed down and then it will be more than three weeks. I fully expect his will happen. After this anything can happen.
@wolfgang59 saidWell, crude is just screwed. Aside from all this coronavirus stuff, for some reason, Mohammed bin Salman of Saudi Arabia decided to flood the market with crude, thereby effectively destroying OPEC. Prices tumulted.
FTSE down another 7% after a few minutes of trading.
Back to 2011 level.
Crude down about the same .... that's -50% from its peak 3 months ago.
@earl-of-trumps saidHence my opening post.
Well, crude is just screwed. Aside from all this coronavirus stuff, for some reason, Mohammed bin Salman of Saudi Arabia decided to flood the market with crude, thereby effectively destroying OPEC. Prices tumulted.
Why can't Trump intervene?
Not heard anything from him about this!
@wolfgang59 saidI don't see why falling crude prices is to be considered a bad thing for the consumer. Let's not forget that Trump allowed fracking in 2017 which made the cost of crude fall.
Hence my opening post.
Why can't Trump intervene?
Not heard anything from him about this!
Other than stock holders of crude oil, it's good for the economy, no?
@earl-of-trumps saidMany oil producers are on small margins.
I don't see why falling crude prices is to be considered a bad thing for the consumer. Let's not forget that Trump allowed fracking in 2017 which made the cost of crude fall.
Other than stock holders of crude oil, it's good for the economy, no?
Depressed crude prices can/will drive a lot out of business.
(That's a LOT of US producers.
Then US could be back to depending on oil imports again.)
Saudi produces oil very, very cheaply they can survive on low prices.