The globalized economy is a colossal Ponzi Scheme in which the vast majority survive on the bread crumbs falling off the table. The possibility of 7 billion people achieving a consumption-oriented lifestyle is zero, so the World Bank conveniently set the poverty line at $1.25/day to legalize global slavery. As long as someone else's children are doing the suffering, it's "all good". Post-2008, this illusion was extended merely by plundering all future generations.
Tuesday, September 13, 2016
To Summarize
Matt Parry, IEA senior oil economist, told MarketWatch that the key takeaway from the report is that global oil demand growth is “slowing very sharply.”
Year-over-year demand growth for the third quarter of 2015 was at 2.3 million barrels a day, he said. That is down to growth of 1.6 million in the first quarter of this year, 1.4 million in the second quarter and, “worryingly,” a projected growth of 800,000 barrels in the third quarter of this year, he said.
Based on the forecasts, “both Chinese and European oil demand growth have all but vanished by 3Q16,” said Parry.
Oil and Energy stocks
Emerging Market stocks and Energy stocks
Junk bonds and oil
As investors continue to chase yield anywhere they can get it, the high-yield bond sector remains red hot, despite sharply higher risk levels.
Exxon is the only remaining profitable Oil stock
Bonus Chart:
Retail