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Shares Outstanding In Biggest Oil ETF Plunge To 13 Month Low
How many times have I said that betting on further increases in crude prices is probably a bad idea at this point?
Between the Saudi's perceived reluctance to extend the output cut deal past six months (for what I contend are political reasons) and US shale's refusal to just roll over and die so the market can rebalance once and for all, it seems exceptionally unlikely that crude is going to get a sustainable bounce.
Well, consider the following re: inventories (via Bloomberg)...
WTI little
Thanks for tracking this. Oil is the best trigger for the deflationary cascade predicted by Dent since a high oil price blocks the effectiveness of just printing more money for free and pulls the rug out from under the financialization gimics that are driving stock prices ever higher and paying for excessive government.
Governments’ central bank puppets can print their way out of paper scams but they can’t print oil.