What we've learned in this era, is that Social Mood is all powerful. Not only can it overcome global Central Bank tightening, but it can recycle failed economic narratives over and over again. Each time expecting a different result. Right up until final burial.
Speaking of final burial, emboldened by his tariff gambit and departure of Gary Cohn, the weekend rumour is that Trump is mulling a purge of what remains of sanity from the White House. Following a year of the highest turnover in U.S. government history - and the fewest Senate confirmations in U.S. history, the Donny is going FULL MAGA RETARD. Starting with his chief of staff, John Kelly:
On the topic of serial insanity, in the past few weeks we got news that U.S. supply is surging, crowding out OPEC. The only thing missing from a repeat of the 2014 disaster was collapsing demand:
"The rise in global oil production, led by the United States, is likely to outpace growth in demand this year, the International Energy Agency said on Tuesday."
In just three months to November, (U.S.) crude output increased by a colossal 846,000 bpd and will soon overtake that of Saudi Arabia. By the end of this year, it might also overtake Russia to become the global leader"
"provided global growth remains strong...
most producers will be happy, but if not, history might be repeating itself”
Too late:
When oil prices were low, serial dumbfucks loaded up on gas guzzlers:
"Right now, there's a lot of big, heavy, thirsty vehicles out there on the road." Sinclair said. "That's going to play into ... whether or not they'll be able to gas those things up."
A new AAA survey asked consumers if there was a gas price point that would make them "change their driving habits or lifestyle to offset higher gas prices...we're there, we're at that level in a lot of cities, a lot of metropolitan areas around the country"
In an old age home, the bar keeps getting lower, and lower, and lower. Until there's nowhere left to go, except straight into the fucking ground...
"quarter-over-quarter annualized gross domestic product growth rates in the three largest advanced economies -- the U.S., the euro zone, and Japan -- have turned down. In all three, GDP growth peaked in the second or third quarter of 2017, and fell in the fourth quarter. This is what the start of a synchronized global growth downswing looks like"
