Friday, November 28, 2014

Oil And The True State Of US Economy

As you may know, the price of oil has been tumbling down:

We should be glad the price of oil has fallen the way it has (losing another 6% today as we write this). Not because it makes the gas in our cars a bit cheaper, that’s nothing compared to the other service the price slump provides. That is, it allows us to see how the economy is really doing, without the multilayered veil of propaganda, spin, fixed data, and bailouts and handouts for the banking system.

It shows us the huge extent to which consumer spending is falling, how much poorer people have become as stock markets set records. It also shows us how desperate producing nations have become, who have seen a third of their often principal source of revenue fall away in a few months’ time. Nigeria was first in line to devalue its currency, others will follow suit.

http://www.zerohedge.com/news/2014-11-28/price-oil-exposes-true-state-economy

The Saudis have us over a barrel (pun intended).

But what is their real goal? Is it just to counter our shale oil play, or to get us to attack Iran?

Considering the overall ineptitude of the Obama ad-Dajjal administration, I don't think they are able of divining the answer.

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