Have a look back on the 27th July at this
POST. I do hope vfenext went safe in the market!!
Re Oil, the race to the bottom and $20 is on. The ME countries don't want to be bullied by the 'fracking' nations and continue to pump oil and have control of the cost on their own desk, they are too keen to be the ones in control. The fracking nations are keen to pump their own oil, drop the global price and buy that oil at a cheap price and store it.
The ME knows that oil is slowly being taken over by other sources of energy and I believe that at some stage the demand for oil will "dry up" (pun intended) and the sale at any price will happen to profit from the oil reserves.
Interest rates are at ZERO, there is no other way to prop up the failing global economy other than try to promote cheap oil. This makes goods and their transportation cheap and drives the economy onwards. As the markets fail then people will slow down on their own spending and the economy will fail more.
No more interest rate drops possible (rate hike talks just hot air as being seen to be in control), oil was $150 and is heading to $20, there is almost no further leverage in the defunct system to try to keep the failed capitalist experiment alive. The only reason that the last 7 years have seen the markets raise through the roof is to make the masses believe that the world is all fine fine fine. QE 1.2.3>infinity in the western world has been in full swing for years. The experiment is almost over I believe and the only safe way going forward is hard assets and do not trust banks with anything.
Truth behind 7 year bear market timing
Jack