Frost over the World - Oil prices & Myanmar - 23 May 08
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Man, did he ever blow this call. Oil is inelastic. Yeah, right. Three months after this interview it fell to 30 a barrel. I had watch Halligan take on Hugh Hendry on a clip from 2009. Thought Halligan had the better of it. Wanted to learn more about him. Well, he has feet of clay like most economist. Hendry was right about one thing. Nobody knows nothing.
mandatum 1 year ago
Speculation is an aspect of the market the general public is clueless bout and most seem to be daft about the absurd regulation demands on refineries and drilling that cause domestic production to be nearly impossible.
Speegs23 2 years ago
Of course, we could go to the source of the real problem with the inflation as well? People thinking its their god giving right to hoard money for no particular reason other than to allocate and hoard more money. I mean, if the government came down on exxon and lockheed martin for their role in shaping politics to their advantage.. then simply destroyed all the money they took.. the currency would correct.. but.. americas politicians are how to put it? Out to lunch permanently?
Xakryn 3 years ago
oil prices ... take the bus !
BIGMEL1981 3 years ago
That economist is deliberately trying to beat up the price of oil. Supply and demand are factors, sure, but only minor ones, at this point. There have been no dramatic changes in either supply or demand, in the last two years. So what's causing it? Simple: Ben Bernanke and the Fed, flooding the world with USD to try to delay a major market correction. Every USD they create out of thin air devalues every USD in existence, making commodities that trade in USDs more expensive: oil, wheat, rice, etc
lastnymleft 3 years ago