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.
Thursday, October 13, 2016
OilPlosion Update
OPEC reported a increase in its oil production in September to the highest in at least eight years and raised its forecast for 2017 non-OPEC supply growth, pointing to a larger surplus next year despite the group's deal to cut output.
"Inventories stand near all-time highs worldwide,"
In the report, OPEC also raised its forecast of non-OPEC supply next year, saying output from outside the group would rise by 240,000 bpd, up 40,000 bpd from an earlier forecast due to a higher forecast for Russia.
ZH: Oct. 13, 2016
U.S. Oil Inventories, Biggest Build In Six Months
Inventories (red) reversed higher in the exact same week as last year and at the exact same price. Although inventory levels are a tad higher this year...
A year of massive buying power squandered on OPEC bullshit...