I'll take 1 million barrels please, that will be 37 million dollars.
https://www.cnn.com/2020/04/20/investing/premarket-stocks-trading/index.html
https://www.cnn.com/2020/04/20/investing/premarket-stocks-trading/index.html
Oil falls to negative $37 a barrel
- Thread starter fried-chicken
- Start date
Oil is now less valuable than my dick picks. I would only have to pay someone $20 to agree to receive a dick pick from me. You have to pay someone double that to take a barrel of oil.
Nobody does. Nobody. This is going to crash the farm economy and every bank that is leveraged against derivatives that came from inflated land prices and commodity projections. That means every investment bank in the country. Imagine 2008 x3 and the FED is out of bullets.
Frackers are now getting paid by the government to NOT take oil out of the ground.
Isn't it funny how fast we went to socialism when we have a need. We are trying to build a parachute as we free fall. Sure would have been nice to have a reasonable safety net in place before all of this.
We are way past the point of that. I dont care how much money the government sends out or what 'they' pay for, the market has finally forced the crash that should have happened 3 times since 1980.
And yet, SPY sits at 280
When this mess is over the only solution will be to inflate ourselves out of this.
We already did. Being the world's reserve currency is a double edged sword. I'm not kidding when I say 2-3 years worth of MASSIVE deflation, followed by hyperinflation that would make Venezuala blush.
Better late than keep this nonsense going longer. Take the lead from Sweden
The virus is a minor factor now. What happens now is inevitable regardless of what we do.
The government is a minor factor you mean. The virus will decide. Sweden may not have had mandated restrictions, but they sure stopped going out in public as much and began social distancing.
i emptied my pool and filled it with oil.
Both are. I'm not talking about the number of people that will die from the virus, I'm saying we are going to deal with 40 years worth of poor economic policy. We might be able to stop the virus, we can't stop the rest of this.
I’m just saying the government restrictions that we have for a month or 2 will be small potatoes compared to the long term economic impact this virus presents without a vaccine. There will not be a sense of normalcy for a long time and some businesses will never recover. This will be global. There isn’t a thing a government can say to convince the 66% of people who think we are relaxing lockdowns prematurely to go back to business as usual.
Even with a vaccine we are screwed. This virus is like .0001% of the impact. It was just the last straw.
People will go back to work when their houses are threatening foreclosure and their cars are being repossessed. This can’t go on forever. People aren’t going to stay home even several more weeks, let alone until a vaccine is developed. 66% say it’s too soon, but that’s number will drop everyday. The new norm will be to get out and be careful. Following guidelines.
Nobody seems to understand that 40 years of garbage economic policy got us here.
Nothing will save you when the economy is partially unable to open and unemployment is flying higher each day.
I know. It is going to get worse. I work in one of the safest industries and massive layoffs are coming this week. They just don't know it yet.
Probably goes back to the 1930s, but yeah the last 40 years have been an experiment that just consolidated wealth without using full-bore socialism to do it. I'll stop short of calling it nefarious, but I can't spell nefarious without spellcheck so what do I know.
There are no safe industries, only businesses that will survive this. Any business in any industry that is overleveraged and trying to cashflow their way out wont survive
I put politics aside to see people have jobs, money, and a future.
The Gov't is the one who shut down the economy and caused it. We have never done to this country what we just did. And snowflakes are about to enjoy their socialism. Welcome to Venezuela.
