Surprise drop in global oil demand

[TarJak]

http://www.abc.net.au/news/2014-09-12/remarkable-drop-in-oil-demand-slashes-prices/5739186

Bugger the Spanish Inquisition, nobody was expecting this. The economists keep showing they struggle with prediction. Maybe they need a better crystal ball.

The warning at the end of the article though should surprise no-one. The other thing I won't find surprising would be no massive downward change in the prices of petrol at the pump. :shifty:

[Wolferz]

In their never ending greed, big oil has effectively cut their own throats.:-?

Artificially inflating the price on the product with every excuse and trick in the book has inevitably backfired. It was only logical that this would occur with so many industries shedding their workers in favor of profits, there are far fewer people able to buy gasoline or any of the myriad of products made from crude oil.
My philosophy: Stop feeding their greed and let them choke on their stocks until they come to their senses.:smug:

[Skybird]

There seems to be a discrepany between real world economy trend and money printers' statements…

[Jimbuna]

Someone better inform Salmond asap.

[em2nought]

About time we stop exporting prosperity, and keep it for ourselves. LOL :D

[Buddahaid]

Paint me skeptical but this smells like a setup to transfer more control to fewer players.

[TarJak]

Oh I'm sure it's a setup to transfer a few more dollars in to to bank accounts of a few players.

It's a signal to produce less oil thereby bumping the price.

[Skybird]

LINK - The Fed has a surprise for you (http://www.zerohedge.com/news/2014-09-12/fed-has-big-surprise-waiting-you)

LINK - Oil price plunge? Its the global economy, stupid! (http://www.zerohedge.com/news/2014-09-12/oil-price-plunge-its-global-economy-stupid)

The solution? Inflate money by letting the money printers print new money faster! Inflation means devaluing of the dollar, a devaluing of the dollar works counter-effect against falling oil prices. :D

Now what would Austrian economists say to this - ah, no, don't get me started, they described it already half a century ago, and before... The world chosed party-oracle Keynes instead, so let Keynes' fairy tale party complete the funeral of the economy.

[Aktungbby]

Fiscally speaking : are we in the rapture or the tribulation? What is Fraqqin' going on? :k_confused:My financial advisers have deserted me completely and I don't trust anything with "IN GOD WE TRUST" written on it!:/\\!!

[Jimbuna]

Print more money and make good the shortfall on the rising price of timber.

[Skybird]

Fiscally speaking : are we in the rapture or the tribulation? What is Fraqqin' going on? :k_confused:My financial advisers have deserted me completely and I don't trust anything with "IN GOD WE TRUST" written on it!:/\\!!
Distrust anything that one can print ink on. ;)

People really should learn to understand again the difference between credit money, and commodity money.

Also it would be essential to learn again the difference between investing based on uncovered credit, and investing what before has been saved in true value/commodity. The latter works well, but forms lasting increase of values in a slower fashion. The first seems to go fast, but only builds illusions that necessarily must collapse.

There is no money worth the name that can be created out of nothing.

Any boom necessarily gets followed by a bust.

No matter how poor somebody is, credits will not get him out of it. He needs to save a little bit - and once having saved a bit then he needs invest that.

You cannot consume yourself out of debts. Not personally, and not national-economically. Claiming that that is possible is probably the most destructive part of Keynes' big fairy tale. No matter whether the negative consequences are quick or take a while to form up: they always come - sooner or later.

[TarJak]

How is that currency tied to gold working for you?
https://www.bullionvault.com/gold-price-chart.do

[Jimbuna]

^That may well drop further if the Scottish Yes vote wins.