Surprise drop in global oil demand

TarJak · 09-12-14, 02:05 AM

http://www.abc.net.au/news/2014-09-1...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.

Wolferz · 09-12-14, 04:58 AM

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.

Skybird · 09-12-14, 05:47 AM

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

Jimbuna · 09-12-14, 05:55 AM

Someone better inform Salmond asap.

em2nought · 09-13-14, 11:23 AM

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

Buddahaid · 09-13-14, 11:41 AM

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

TarJak · 09-13-14, 03:27 PM

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 · 09-13-14, 04:28 PM

LINK - The Fed has a surprise for you

LINK - Oil price plunge? Its the 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.

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 · 09-13-14, 05:20 PM

Fiscally speaking : are we in the rapture or the tribulation? What is Fraqqin' going on?

My financial advisers have deserted me completely and I don't trust anything with "IN GOD WE TRUST" written on it!

Jimbuna · 09-14-14, 06:45 AM

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

Skybird · 09-14-14, 07:15 AM

Quote:

Originally Posted by Aktungbby

Fiscally speaking : are we in the rapture or the tribulation? What is Fraqqin' going on?

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 · 09-14-14, 07:24 AM

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

Jimbuna · 09-14-14, 08:25 AM

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

09-12-14, 02:05 AM	#1
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	Surprise drop in global oil demand http://www.abc.net.au/news/2014-09-1...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.

09-12-14, 04:58 AM	#2
Wolferz Navy Seal Join Date: May 2007 Location: On a mighty quest for the Stick of Truth Posts: 5,963 Downloads: 52 Uploads: 0	Hoisted by their own pitard... 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. __________________ Tomorrow never comes

09-12-14, 05:47 AM	#3
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,679 Downloads: 10 Uploads: 0	There seems to be a discrepany between real world economy trend and money printers' statements… __________________ If you feel nuts, consult an expert.

09-12-14, 05:55 AM	#4
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,732 Downloads: 63 Uploads: 13	Someone better inform Salmond asap. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

09-13-14, 11:23 AM	#5
em2nought Ocean Warrior Join Date: Mar 2004 Posts: 3,485 Downloads: 0 Uploads: 0	About time we stop exporting prosperity, and keep it for ourselves. LOL __________________ em2nought is ecstatic garbage!

09-13-14, 11:41 AM	#6
Buddahaid Shark above Space Chicken Join Date: Jun 2008 Posts: 9,331 Downloads: 162 Uploads: 0	Paint me skeptical but this smells like a setup to transfer more control to fewer players. __________________ "However vast the darkness, we must provide our own light." Stanley Kubrick "Tomorrow belongs to those who can hear it coming." David Bowie

09-13-14, 03:27 PM	#7
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	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.

09-13-14, 04:28 PM	#8
Skybird Soaring Join Date: Sep 2001 Location: the mental asylum named Germany Posts: 42,679 Downloads: 10 Uploads: 0	LINK - The Fed has a surprise for you LINK - Oil price plunge? Its the 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. 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. __________________ If you feel nuts, consult an expert.

09-13-14, 05:20 PM	#9
Aktungbby Gefallen Engel U-666 Join Date: Jul 2013 Location: On a tilted, overheated, overpopulated spinning mudball on Collision course with Andromeda Galaxy Posts: 30,039 Downloads: 24 Uploads: 0	Fiscally speaking : are we in the rapture or the tribulation? What is Fraqqin' going on? My financial advisers have deserted me completely and I don't trust anything with "IN GOD WE TRUST" written on it! __________________ "Only two things are infinite; The Universe and human squirrelyness?!!

09-14-14, 06:45 AM	#10
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,732 Downloads: 63 Uploads: 13	Print more money and make good the shortfall on the rising price of timber. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!

09-14-14, 07:24 AM	#12
TarJak Fleet Admiral Join Date: Jul 2006 Location: Sydney, Australia Posts: 17,052 Downloads: 150 Uploads: 8	How is that currency tied to gold working for you? https://www.bullionvault.com/gold-price-chart.do

09-14-14, 08:25 AM	#13
Jimbuna Chief of the Boat Join Date: Feb 2006 Location: 250 metres below the surface Posts: 190,732 Downloads: 63 Uploads: 13	^That may well drop further if the Scottish Yes vote wins. __________________ Wise men speak because they have something to say; Fools because they have to say something. Oh my God, not again!!