Has oil seen the bottom? Where oil will be by Christmas 2016? Are lower oil prices a boon or bane for the economy? Will Electric Cars and Uber hurt or stimulate the economy? In an exclusive interview, Oilprice.com talked to award-winning economic commentator Mike “Mish” Shedlock about all this and more.
Mish on Oil, Lithium, Uber and More Read More »
In June 2015, when real estate billionaire Donald Trump announced that he was joining the host of candidates for the Republican Nomination for President he was considered to be either a “long shot” to gain the nomination or a joke. But on Thursday May 26th, the Associated Press announced that Billionaire and Republican presidential candidate Donald Trump has reached the magic number of delegates necessary to clinch his party’s nomination. The development comes after a small number of unbound Republican delegates told the AP that they would support Trump at the Republican National Convention this summer.
Trump Reaches Magic Number of Delegates Read More »
Traders who follow the price of gold and silver, should keep an eye out on the U.S. dollar index. Once the dollar starts to show signs of increased volatility (top) similar to 2000 – 2001 money will find its way into other currencies and precious metals as the new trade and safe haven.
Commodities Overtake Stocks and Bonds with Best Rally Since 2010! Read More »
In his first inaugural address, Thomas Jefferson said the purpose of government is to “restrain men from injuring one another” and “shall leave them otherwise free to regulate their own pursuits of industry and improvement.” Americans were to live under a presumption of freedom. A recent WSJ article said, “It was our boast that in America, unlike in any other country, you could live your life as you saw fit as long as you accorded the same liberty to everyone else.” But all that has changed now.
The More Corrupt the State, the More Numerous the Laws Read More »
Unfortunately, as soon as you put someone in control of the distribution of wealth… greedy, power-hungry individuals will gain control of it and take the majority share for themselves and their friends. Also as soon as you centralize the means of production it becomes inefficient and produces less… making everyone poorer. A lesson learned from the former Soviet Union (i.e. Soviet Socialist Republic): When the government mandated that a factory produce 1 million nails a month they produced a million tiny worthless nails. So the government mandated that they produce 100,000 pounds of nails so they produced 100,000 (equally worthless) 1 pound nails. On the other hand, a truly capitalist factory must produce what the consumer wants or it will go out of business.
Why America is no Longer a Free Capitalist Country Read More »
“What I have seen in the socialist country of Caracas, Venezuela,” Luke Rudkowski of WeAreChange wrote following his recent trip to the country, “has really rocked me to my core. “The government spends their resources on gun-free zones, no smoking areas, permits for everything, making sure people can’t protect and arm themselves, social planning, price controls on basic necessities that makes them nonexistent, bank controls so you can only take out $1 from an ATM, and you virtually have to wait in line for everything.
The Socialist Time Capsule Read More »
It was nice living in America before it changed the course towards the so-called “progress,” which, according to my compass, is pointing backward. All of a sudden, I find myself playing the role of a comrade from the “future,” helping my new compatriots to navigate the quagmire ahead.
The Six Contradictions of Socialism in America Read More »
Wall Street has done it again and today I’m writing to warn you about a hot new financial instrument backed by derivatives that has taken Wall Street by storm. And the aftermath may be just as devastating to investors who are unprepared.
Oil prices have rallied by about 50 percent from their February lows, topping $40 per barrel. But the rally could be reaching its limits, at least temporarily, as persistent oversupply and the prospect of new shale production caps any potential price increase.
U.S. oil production has steadily lost ground over the past two quarters, with production falling more than a half million barrels per day since hitting a peak at nearly 9.7 million barrels per day (mb/d) in April 2015. American oil companies have gutted their budgets and have put off drilling plans, with many projecting absolute declines in 2016.
Oil Rally Reaching Limit Read More »
Oil prices have shown signs of life over the past few weeks, as production declines in the U.S. raise expectations that the market is starting to adjust. As a result, Brent crude recently surpassed $40 per barrel for the first time in months.
A growing list of companies are capitulating, announcing production cuts for 2016. Continental Resources, for example, could see output fall by 10 percent. A range of other companies have made similar announcements in recent weeks. The energy world has been speculating about declines from U.S. shale, and the declines are finally starting to show up in the data.
Oil Won’t Stage A Serious Rebound Until… Read More »
