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Page added on January 10, 2015
The Oil Crash Looks A Lot Like 8 Other Classic Bubbles That Burst
Oil might have been in a bubble that’s now popping.
Gluskin Sheff Chief Economist and Strategist David Rosenberg observed in his Friday morning research note that:
“Well, with perfect hindsight, oil was in a classic bubble: parabolic price moves, tremendous excitement, widespread participation by the investing public, a ton of leverage.”
Rosenberg noted that, when bubbles in the past have burst and then led to further problems in the financial markets, there was a delay of at least a few months. If the bursting of the oil bubble has secondary effects, they may hit later this year.
He included a table showing the last nine bubbles, including the oil bubble that is currently collapsing. Assuming oil follows a similar peak-to-trough price trend as other bubbly assets in the past, Rosenberg believes that if oil already hasn’t hit its low, “then we are seemingly very close to a bottom in oil price.”
3 Comments on "The Oil Crash Looks A Lot Like 8 Other Classic Bubbles That Burst"
bobinget on Sat, 10th Jan 2015 8:57 am
Bullshit.
#1) USD: http://finviz.com/forex.ashx
#2) USA Consumption, over 20,000,000 B p/d.
Miles driven, highest in seven years.
The two numbers are, because of vehicle milage improvements, are not contradictory.
http://www.eia.gov/petroleum/supply/weekly/
#3) Unemployment stands at 5.6 %
http://www.huffingtonpost.com/2015/01/09/december-jobs-report_n_6438126.html
Only in the last few market days have foreign and domestic markets began to understand the nature
of this ‘Oil price War’. Because Americans chose to ignore World Oil Wars being waged in Iraq, Syria, Libya, Sudan, Yemen, Mali, potentially
South China Sea, Arctic regions etc. Traders keep pushing a ‘oil glut’ fiction. Long after Libyan production was effectively Shut-In. This RAT here
is the truth. No one could make this shit up.
Religion, specifically hi-jacked Islamic Faith is being used as a ‘Flag of Connivence’ by those
seeking to dominate market share… (in order to charge what-ever) If you need proof of this wild statement Google “ISIL Flag” quite literal.
V. Putin seeks to restore Russia to Super Power status of old USSR days by first gaining control of crude oil pricing first then ‘reclaiming’ now independent post Soviet nations.
Iran and Saudi Arabia are now and have been at war over Islamic Dominance. these two power are determined to fight to the death… of the last Syrian.
http://www.latimes.com/topic/unrest-conflicts-war/demonstration/syrian-civil-war-EVGAP00010-topic.html
WE are being set up for massive oil shortages.
Apneaman on Sat, 10th Jan 2015 12:38 pm
Saturdays, are All You Can Eat conspiracy theories at the “Golden Corral” buffet.
GregT on Sat, 10th Jan 2015 1:27 pm
A prime example of cherry picking data if there ever was one. I will do the same.
Oil price————2002 ~$25/bbl——2015 ~$50/bbl +200%
Gold price———-2002 ~$300/oz——2015 ~$1200/oz +400%