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Page added on September 17, 2015
Is This The End Of The U.S Shale Gas Revolution
While everyone is watching the oil bust, there is another bust going on – one for natural gas.
Before there was a boom in oil production in the United States, there was the “shale gas revolution.” That is where we all became familiar with terms like “fracking.” And the Marcellus, Haynesville, and Barnett Shales were famous long before the Bakken or Permian.
The surge in natural gas production crashed prices, fueling a huge increase in activity in petrochemicals and causing a major switch from coal to natural gas in the electric power industry. Aside from a few brief moments (such as the winter of 2014), natural gas has mostly traded around $4 per million Btu (MMBtu) or lower since the financial crisis of 2008.
(Click to enlarge)
But unlike oil, the boom in shale gas did not stop with plummeting prices. U.S. natural gas production continued to climb. For example, production from the prolific Marcellus Shale – which spans Pennsylvania, West Virginia and Ohio – skyrocketed from less than 2 billion cubic feet per day (bcf/d) in 2009, to a record-high of over 16.5 bcf/d this year. And the dramatic ramp up in production occurred over several years when prices were extremely low.
Related: Oil Industry Influence Waning Amid Oil Price Slump
So only after oil prices busted did natural gas production start to slow down. In fact, while the markets are eagerly watching for declines in oil production, few are noticing that natural gas production is also declining. The EIA reports that in October, several of the largest shale gas regions will post their fourth month in a row of production declines. With a loss of around 208 million cubic feet per day expected in October, the four-month drop off will be the longest streak of losses in about eight years.
It is no surprise that the Eagle Ford will represent the largest losses, with a decline of 117 million cubic feet per day expected in October. That is because oil is a much more prized commodity in South Texas, so the decline is largely attributable to disappearing crude oil rigs.
While U.S. shale gas remained resilient through several years of low natural gas prices, the collapse in oil prices are finally putting an end to the boom.
By Charles Kennedy
101 Comments on "Is This The End Of The U.S Shale Gas Revolution"
augjohnson on Fri, 18th Sep 2015 3:38 pm
One tiny carbon footprint here, one tiny carbon footprint there; soon you’re talking a REAL CARBON FOOTPRINT. All the things you mentioned come from all the individuals added together. Yup, you are just looking for any way you possibly can to shift the blame off yourself.
By the way, your “debating” style reminds be very much of a crook that was preying off of my father-in-law. It was a nasty legal fight to get the things back that he’d stolen. Your animated figure (used to draw attention to yourself) and your flippant comments so remind me of this asshole.
End of comments
GregT on Fri, 18th Sep 2015 3:41 pm
planter says:
“You are totally wrong to claim that Obama only signed off on the Arctic Oil drilling because the public is demanding it.”
aug said:
“Obama wouldn’t have signed off on that Arctic Development if it wasn’t for you and millions like you demanding that oil.”
Reading comprehension has failed you yet again lil’ planter.
You just about finished sticking your foot in your mouth? Or are you going to continue on with your mindless stupidity?
Davy on Fri, 18th Sep 2015 3:42 pm
Planter, you carbon whore you should be ashamed of yourself. Why are you not crowing about those old growth forest carbon offsets you spoke of some months ago. Do the math on that and please and fill me in. Last you wrote that justified your carbon nasty lifestyle.
Personally, I travel but I hope the airline industry crashes soon so I don’t have to fly. I have no excuse planter and I am not going to hide the fact i fly 2-3 times a year. My carbon offsets are doing less and staying home on the farm every chance I can get.
Plantagenet on Fri, 18th Sep 2015 3:45 pm
HI Davy
I considered discussing carbon offsets, but most People here don’t have the math skills to understand the concept of Carbon offsets. People here can’t even understand that their own personal carbon footprint is a tiny fraction of that emitted by the US Air Force or that Obama’s decision to allow oil development in the Arctic ocean and off he easter seaboard will result in huge amounts of CO2 being emitted to the atmosphere and much more global warming.
CHEERS!
apneaman on Fri, 18th Sep 2015 3:49 pm
planty, thanks for proving (again) the two major points of my ongoing theme that apes can’t stop degrading energy and cannot stop rationalizing their self destructive behavior. BTW, I used to get the coke and other goodies delivered right to my house at no extra charge – but that was well over 20 years ago when gas was still relatively cheap and I was still relatively crazy.
GregT on Fri, 18th Sep 2015 3:50 pm
“People here can’t even understand that their own personal carbon footprint is a tiny fraction of that emitted by the US Air Force or that Obama’s decision to allow oil development in the Arctic ocean and off he easter seaboard will result in huge amounts of CO2 being emitted to the atmosphere and much more global warming.”
And planter doesn’t have two brain cells left to rub together to figure out that it is all of the people’s personal carbon footprints together, that will result in ‘much more global warming’.
Plantagenet on Fri, 18th Sep 2015 3:56 pm
@Apey
Do you really think that if your have your cocaine delivered to your house that no carbon is emitted?
I hate to break it to you, but †he guy driving to your house emits Carbon just like you would if you went downtown to buy it.
Think about it. A car is involved either way you do it. Gasoline is consumed and CO2 is emitted whether you drive downtown to buy it, or the man drives to your house to deliver it.
SHEESH—think it through when you aren’t too stoned to think. Carbon is emitted either way.
CHEERS!
Plantagenet on Fri, 18th Sep 2015 3:58 pm
Thanks APey for that hilarious post.
I got a really good laugh out of that one.
HAHAHAHAHAHAHAHAHAAHAH!
Cheers!
GregT on Fri, 18th Sep 2015 4:01 pm
Not only are you intellectually challenged planter, you are irresponsible, and you have an extremely childish sense of humour.
apneaman on Fri, 18th Sep 2015 4:06 pm
planty, as a resident of Alaska don’t you stand to benefit if Shell strikes it big and transports the oil through your pipeline? What would the neighbours think of your anti-Arctic drilling rhetoric? I mean how else are you going to pay for all the firefighters and repairs on the AGW hammered infrastructure? The Alaskan Red Queen.
Plantagenet on Fri, 18th Sep 2015 4:42 pm
Apey
Once again,I advise you to travel more or at least read more to learn about the things you are discussing. Please think for a second—- start with the idea that Alaska is a huge place. The area where Shell is drilling is in the ocean and far far away from the northern terminus of the trans Alaska Pipeline system. You’d have to build a whole new trans Alaska Pipeline system to get that oil to the existing trans Alaska Pipeline system—and that ain’t gonna happen.
Your fantasy about Shell pumping Arctic Ocean oil down the Alaska pipeline makes no sense at all— its just more nonsense.
CHEERS!
Plantagenet on Fri, 18th Sep 2015 4:44 pm
Why are you GregT and augjohnson etc. so determined to back Obama’s plan to open the Arctic Ocean to oil drilling anyway?
Don’t you understand that global warming is a real threat to the planet?
Cheers!
augjohnson on Fri, 18th Sep 2015 4:53 pm
OK all, it’s time to stop trying to discuss anything with plant. These conversations are exactly the same as the ones we had with my father-in-law. He had dementia. We kept trying to explain to him why he wasn’t allowed to run away to Mexico or to Europe.
We tried to explain to him why this crook was stealing his property. It a long time to finally get it through our heads that he no longer had the ability to reason, therefore it wasn’t possible to reason with him.
This crap with plant feels exactly the same, you present a clear argument and he comes back with some totally off the wall reply. My father in law kept telling us that he was the smartest man in the world, he was just waiting for a letter from the President that would confirm it.
You just have to let this crap go by and ignore it. Plant is either a complete plant/bot or he has no reasoning ability. If the management won’t ban him, he just needs to be ignored.
GregT on Fri, 18th Sep 2015 4:54 pm
“Your fantasy about Shell pumping Arctic Ocean oil down the Alaska pipeline makes no sense at all— its just more nonsense.”
More of the world according to lil’ planter, seems like that high carbon footprint isn’t helping much. Maybe you should stop wasting your time, and the environment.
“If all goes well, Shell will drill through in late September, at which point Pickard says she’ll order the fleet to move south for the cold months. Shell will have to come back for 15 summers before “first oil” flows through an as-yet-unconstructed 70-mile seafloor pipeline to the Alaska coast and then a 350-mile overland connector (also yet to be built) to the Trans-Alaska Pipeline.”
http://www.bloomberg.com/news/features/2015-08-05/inside-shell-s-extreme-plan-to-drill-for-oil-in-the-arctic
apneaman on Fri, 18th Sep 2015 5:06 pm
Ahaw planty, you’re dumber than a sack of potatoes.
ghung on Fri, 18th Sep 2015 5:07 pm
What Aug said.
ghung on Fri, 18th Sep 2015 5:09 pm
…. and no need to insult potatoes.
onlooker on Fri, 18th Sep 2015 5:35 pm
“Open your eyes. NO one demanded Obama open the Arctic except Shell Oil.” Only cow beyond dumb this statement. I cannot believe you guys even give Planty the time of day. Definitely second the motion to just ignore him, someone so dense or in denial is beyond hope.
Boat on Fri, 18th Sep 2015 7:34 pm
Since ya’ll are throwing around insults again let me give you a real reason to cuss. Obama has been aligned with big oil and nat gas. Here is how Obama and the new Dem machine works.
He picked the biggest evil polluter, coal, and in order to get legislation passed he gave oil and nat gas the green light.
He also got cleaner refineries by demanding CHP in trade for shutting down coal in refineries. Just a part of the green energy initiative.
He has stopped the Keystone pipeline but there are already tar sand pipelines and new ones on the way but they are not on the public radar. To save face on Keystone he gives them the Arctic. This is how the man works. He usually wins. There are many more examples like how he saved the US car companies but forced them to build better mph cars.etc
Boat on Fri, 18th Sep 2015 7:38 pm
Plant,
Don’t let the apeman out of N America. Give N America a bad name.
Plantagenet on Fri, 18th Sep 2015 7:39 pm
@onlooker
Who do you imagine “demanded” that Obama open the Arctic to oil drilling?
Your fantasy life is your own business, but when you make things up and post them here without backing up your fantasies with some facts, then you look the fool.
CHEERS!
Plantagenet on Fri, 18th Sep 2015 7:42 pm
@Boat
I have no control over where Apey goes. However, I don’t think you have to worry about him travelling—-the only kind of “trip” he’sever gone on has involved him mainlining cocaine—or so he claims.
Cheers!
apneaman on Fri, 18th Sep 2015 9:36 pm
Boulder Weekly “Frackademia” Investigation Reveals University of Colorado for Sale to Oil and Gas Industry
“The “Documents…reveal that the studies were conceived of, edited and strategically used by PR firms to influence fracking policy in Colorado, yet CSPR’s financial ties to the oil and gas industry were not disclosed to the media or in the published studies,” wrote Coleman in an article piggy-backing off of the Boulder Weekly investigation. “CSPR set priorities for the researchers, prioritizing oil and gas work. The studies were aimed at politically contentious topics, like local regulation over fracking wells.”
http://desmogblog.com/2015/09/17/boulder-weekly-frackademia-investigation-university-colorado-for-sale
GregT on Fri, 18th Sep 2015 9:37 pm
You and Boat should hook up plant. You’re both at about the same level.
apneaman on Fri, 18th Sep 2015 9:40 pm
BEHIND THE CURTAIN
“To understand how a handful of wealthy, influential individuals, along with the oil and gas industry and a few key political operatives, have managed to play puppeteer over our state government and even the electorate is quite complicated. That’s why we’ve included seven full pages of what I refer to as “influence maps” at the end of this article.”
http://npaper-wehaa.com/boulder-weekly/2015/09/17/#?article=2605642&page=1
GregT on Fri, 18th Sep 2015 10:03 pm
Thanks for backing up Onlooker’s assertions with links Apnea. If planter wasn’t such a complete moron, she would actually read them, instead of spreading constant misinformation and lies.
Plantagenet on Fri, 18th Sep 2015 11:21 pm
@GregT
All you’ve done is prove once again you don’t have the intellectual firepower to even understand what you are reading.
Onlooker claimed that mysterious unknown players “demanded” that Obama open the Arctic to oil drilling, and poor powerless Obama complied.
Ape posted a link to a story about local Colorado state politics.
I hate to break it to you GregT but the state government of Coloado is not the same thing as the Federal government of the USA. The White House isn’t in Denver. The story linked to Apey says nothing about who the mysterious folks are in Onlooker’s fantasy that Obama supposedly yielded to.
But you didn’t get it. Your reading comprehension is clearly zero so you just flunked reading 101.
CHEERS!
GregT on Fri, 18th Sep 2015 11:32 pm
President Jimmy Carter: The United States is now an Oligarchy.
https://www.youtube.com/watch?v=hDsPWmioSHg
apneaman on Fri, 18th Sep 2015 11:36 pm
What Exxon Knew About Climate Change
http://www.newyorker.com/news/daily-comment/what-exxon-knew-about-climate-change
GregT on Fri, 18th Sep 2015 11:46 pm
Big Oil, governors joined forces to promote offshore drilling
“The governors’ pro-drilling campaign had significant help from Big Oil: A recent Center for Public Integrity (CPI) investigation found the OCSGC has a close relationship with HBW Resources, an energy lobbying firm acting on behalf of the Consumer Energy Alliance (CEA), an oil industry-funded advocacy group.
CPI reviewed thousands of pages of documents obtained through public records requests and discovered that “much of the governors coalition work has been carried out by HBW Resources and CEA, a group that’s channeled millions in corporate funding to become a leading advocate at the state level for drilling.”
CPI likens the governors’ coalition to the American Legislative Exchange Council (ALEC), a controversial group that brings together conservative state lawmakers and private-sector representatives to draft business-friendly legislation. Both ALEC and the OCSGC “allow powerful corporate interests to gain a direct line to state policy makers not available to common citizens or other
stakeholders,” CPI writes, “all under the banner of a generic advocacy organization.” In fact, CEA is actively involved in ALEC.
And the OCSGC is just one of many tools the oil and gas industry uses to influence policymaking in Washington. Among the others, according to the Center for Responsive Politics’ ”
http://www.southernstudies.org/2015/01/governors-big-oil-assisted-lobbying-pays-off-in-ob.html
apneaman on Fri, 18th Sep 2015 11:54 pm
Poor widdle planty, still stuck with an elementary school, Pledge of Allegiance, version of how your country works. It’s a completely corrupt Oligarchy. No matter what they do you just refuse to think anything has changed. Bill Clinton signs away the Glass Steagall – Everything is still awesome. Corporate personhood – Everything is still awesome. Crash of market by criminal bankers – Everything is still awesome and it’s BAU – more of it in fact. Patriot act – Everything is still awesome. NDAA – Everything is still awesome. Those are but a few of the highlights. It’s an Oligarchy and the few remaining laws don’t mean shit because all the checks and balances that mattered are gone and so is your freedom planty. Comprehend that bitch?
Testing Theories of American Politics:
Elites, Interest Groups, and Average
Citizens
http://scholar.princeton.edu/sites/default/files/mgilens/files/gilens_and_page_2014_-testing_theories_of_american_politics.doc.pdf
GregT on Sat, 19th Sep 2015 12:04 am
Big Oil’s Stranglehold on America
“Big Oil is a powerful puppet master that controls the automobile industry, American consumers and even the United States government on its strings. If these seemingly powerful CEOs and government officials are under the reign of Big Oil then it is impossible for the average American consumer to go up against this dominant force. Questions may arise about how one industry could manage to severely influence the United States government. Yet, it is plain to see that Big Oil is laying down the laws for everyone, and they do not seem reasonable.”
http://www.studentpulse.com/articles/353/big-oils-stranglehold-on-america
Davy on Sat, 19th Sep 2015 5:34 am
We talk bad about “Big Oil” but let’s remember that when “Big Oil” is over we have some truly “Big Problems” awaiting us. There will be little good happening. Big Oil is going to pay her dues by being relegated to a fallen status soon enough. I imagine we are going to have oil companies for a long time maybe just not big ones.
We love and hate oil. Many hate big oil but it is really an amalgamation of diverse range of firm sizes. So many people at all levels are under its influence. It is a foundational industry dealing with our foundational commodity. In that respect it commands the economy significantly. In this day and age of concentration of power, privilege, and wealth it is a perfect place for influence to concentrate. Many hate this and it clearly is a potent sign of the times.
What we must remember is what is next? Oil is clearly in its last years before a working retirement. I say working retirement because we will continue to have oil just now big oil. We can complain all we want about big oil but what about what is next. Without big amounts of oil from Big Oil our lives change drastically. There are no substitutions for oil and Big Oil for a complex and energy intensive status quo.
How quickly this comes about is significant. I imagine it will unfold over several years because Big Oil is not going to go easily. Ideally we would start winding down operations now. We would not pull the plug on oil we would just begin the process of weening ourselves from it. This process would be so disruptive and irreversible as to end the status quo. It would be a rebalance event of consumption and population that must happen. It could happen in a predictable way by policy or a less predictable way by chance. This is fate because it will happen either way. The status quo will end.
There is no predicting how the system will land after such an event. There is little chance of a controlled winding down of oil but it is useful to explore what it means because it will happen either way. When food and fuel go into shortage we will have no choice but to make other arrangements. This will be a crisis situation by definition. We cannot restrict or be restricted of food and fuel without crisis. I say food and fuel because food is significantly fuel today. Food is ultimately the final product of fuel for us humans.
Globalism and markets will be changed beyond recognition. Consumerism as we know with box stores and the high mobility will end quickly. Economies of scale cannot hold up in such an arrangement. Comparative advantage is null and void in these situations because consumerism is not possible.
We will then see comparative advantages of locals that have the right ingredients. Those ingredients are common sense but little understood by most people that have become habituated to fossil fuel life. We are talking reasonably sustainable carrying capacity issues of climate, food, water, and population levels. These conditions allowing localized agriculture.
Things may crash hard initially or crash hard after an initial few years of recessionary decline. A hard crash cannot be avoided at some point it is the recovery that matters. There is no way around this. If we are lucky this will be a soft rebalance of a descent that is hybrid of what is worth saving of our modern life and those skills and knowledge of pre fossil fuels. A soft rebalance would include a hard crash but with a healthy recovery. Most of these pre fossil fuel skills revolved around food production and preservation.
If a food culture is adequate you have the basics of skilled crafts to produce the tools we need for living. Of course you have administration, security, and learning. This hybrid arrangement will be interesting at least in the beginning. Descent of a complex social, economic, and political system is characterized by economic abandonment, irrational policy, and dysfunctional networks.
This is important to understand because it is the reduction of those entropic decay variables that will be the most important achievement we will make. When you are talking descent you are talking limiting the decay not achieving wonderful achievements of production of art, technology, or development. Your achievements are limiting decay, suffering, and loss. This is a key variable that is lost on most all policy makers.
How can we go from the growth meme to a descent meme and hold together something civilized. When it comes down to the brass tax it takes a degree of civilization to put food on the table. This is what it is going to come down to in the most distilled form and that is food on the table. We can get very elaborate with these discussions but it is really quite simple. The devil is in the details of getting from here to there but let’s at least know where we need to go and that revolves around food in a collapsing world.
Makati1 on Sat, 19th Sep 2015 5:40 am
Another view on population, if you have a few minutes this weekend…
“Population Growth, Pollution and the Global Environment”
http://www.globalresearch.ca/population-growth-pollution-and-the-global-environment/24467
“… “Keeping fossil fuels in the ground will mean defeating the world’s most powerful corporations and institutions.” (14 ) “Rather than rise to this challenge, populationists fear that it’s too difficult.” (15) Population control has one big advantage: it seems easier…. :
Assertions presented in the article are referenced for further review.
onlooker on Sat, 19th Sep 2015 6:15 am
Thanks AP and Makati for those important links especially for any newcomers who wish to know some of the pertinent issues of our current predicament.
peakyeast on Sat, 19th Sep 2015 6:55 am
We are damned if we do and we are damned if we dont…
…
Starvation or broiling in our own fat.
Thanks a lot to the religious and political “leadership” for bringing us to this choice.
onlooker on Sat, 19th Sep 2015 8:17 am
Yep peak it is an impossible situation just hope the deniers and cornucopians shut their trap already with their wishful delusional thinking.
Makati1 on Sat, 19th Sep 2015 9:10 am
Saw a new shop in Manila today? I wonder if it will become an international chain?
UNICORN PAWNSHOP
Plantagenet on Sat, 19th Sep 2015 10:48 am
Right up there with the peak oil problem is the global warming problem. Contrary to the belief of cornucopian, we aren’t going to solve the peak oil problem by drilling for oil in the Arcic Ocean, and contrary to the naive belief of many posting here, Obama’s decision to start tapping oil from the US Arctic Ocean is going to make Greenhouse Warming much worse.
CHEERS!
Boat on Sat, 19th Sep 2015 10:56 am
By allowing drilling in the Arctic Obama took away the argument from the Republicans. That and military spending. US politics. Flaring causes more pollution anyway. Nobody likes to talk about that.
GregT on Sat, 19th Sep 2015 11:05 am
“3.49 tons of CO2 generated by you planter, during your return flight from Anchorage to Spain. Your two little trips alone added 7.35 tons of CO2 into the environment. Which is the equivalent of driving some 30,000 miles. The equivalent of driving some 30,000 miles in less than 3 days, I might add.”
If everyone was as irresponsible as you are planter, your little cabin in the bush would have burnt to the ground already. Those of us that are doing our best to reduce our carbon footprints aren’t going to stop people like you who don’t. Kind of stupid, don’t you think, to be shitting in your own nest.
Davy on Sat, 19th Sep 2015 11:15 am
Greg not to diminish our exposing of Planter’s evil carbon whore ways but wouldn’t the 7.35 tons be devided by say the 250 or so passengers? I want to know for myself also so I can feel that much worse when I have to fly.
augjohnson on Sat, 19th Sep 2015 11:22 am
Stop it people! You’re just feeding the troll!
GregT on Sat, 19th Sep 2015 11:22 am
No Davy,
That would be planter’s individual contribution. She put more CO2 into the atmosphere in 74 hours, than my wife and myself together contribute in about two and a half years.
http://www.carbonbalanced.org/calculator/flights.asp
apneaman on Sat, 19th Sep 2015 11:57 am
Davy, spare yourself – it won’t matter. That door was closed a couple of decades ago. I found that out well after I made changes. No, nothing you or I or anyone does to reduce their carbon footprint will matter now and never did. It’s like putting band-aides on shotgun wounds right before bleeding out. Individual reduction schemes to “save the planet” are just hopey stories deep from the ape psyche that have been capitalized on by the green gatekeepers and corporate and government forces. Some of them may even believe it. We just didn’t evolve to deal with this type of situation.
Big Picture = Nobody’s fault
“The real problem of humanity is the following: we have paleolithic emotions; medieval institutions; and god-like technology. – E.O. Wilson
GregT on Sat, 19th Sep 2015 12:33 pm
“Davy, spare yourself – it won’t matter. That door was closed a couple of decades ago. I found that out well after I made changes.”
I’ve come to the same conclusion Apnea, but I still have kids that I need to face. To continue on doing now, what I didn’t understand back then, doesn’t sit right with me anymore. Regardless of the ultimate outcome.
The above is more about planter’s hypocrisy, than it is about trying to save our dying planet.
Davy on Sat, 19th Sep 2015 12:59 pm
Ape man, I have no allusions of change happening at least in the macro. I do believe we have to give a solution even if it is not practical per the status quo. You must offer something people can relate to.
Back to the land localization with its consumption reductions and simplifications is relevant to small communities and individuals. In any and all cases consumption and population rebalance is what it is. It is a die off scenario with less resources within a future of descending resource levels and economic activity. The best one can do is adapt, avoid poor decisions, and endure a shit storm.
apneaman on Sat, 19th Sep 2015 1:06 pm
Yes Greg, one’s conscience is another matter entirely.
keith on Sat, 19th Sep 2015 1:45 pm
Shale only existed because of QE
BC on Sat, 19th Sep 2015 4:36 pm
Plant, Obummer/Obomba was hired by Wall St., The City, Big Oil, and the Israel lobby (and others), as was Dumbya, Slick, and Daddy Bush. Merkel, Cameron, and Draghi were also hired by the RR syndicate, Wall St., The City, and Frankfurt. Come on, brother, it’s so obvious.
Your silly for my silly. There. We’re even. All is right with the universe. 🙂
GregT: Understood.
Keith: As for shale and QE, yes, or shale was extracted because of Peak Oil, which caused the conditions that prompted QE, which in turn has resulted in the largest bubble as a share of wages and GDP in world history. All bubbles burst. The largest bubbles burst spectacularly.
https://app.box.com/s/ztgvh9e0u9skbdctnnrm29h2xpuq3854
https://app.box.com/s/cik3teki4u11tj7erkxqh1t1lw0eayvj
https://app.box.com/s/euac8q55blf7wq221oomse06073grb7d
https://app.box.com/s/rvlhbckx959xahjysa30zwyallimx0qb
In the words of the venerable Dumbya Bush, “this sucker could go down”. The S&P 500 is rolling over, financial risk is increasing, real house prices are in another bubble, and the monetary base is trending towards the rate at which the Fed commenced QE, “Operation Twist”, and “All In”.
Assume the crash position and prepare for “All In II” from the Fed, BOE, ECB, BOJ, and PBoC, NIRP for short rates, and the 10-year Treasury at 1% or below. The next global deflationary recession and big bear market is ahead.
The Anglo-American and European elites will likely do what they’ve always done so as not to waste a good crisis to consolidate their power: shut banks and markets, declare a state of emergency, confiscate gold and/or impose “bail-ins”, start a war, and perhaps assassinate one or more politicians just to make a point.