Online:
Visits:
Stories:
Profile image
Story Views

Now:
Last Hour:
Last 24 Hours:
Total:

Dohaha, Slippery Oil Laughs at Nearly Everyone

Saturday, April 23, 2016 18:50
% of readers think this story is Fact. Add your two cents.

(Before It's News)

As predicted relentlessly here, the scuttled meeting in Doha to limit oil production broke up with no agreement at all. The meeting foundered like a tanker snagged in the dessert sands because of the singular obvious factor that should have sunken all hope weeks ago but did not: Saudi Arabia said, “No deal without Iran.

It’s absurd the people did not see with certainty that the meeting would founder. They simply didn’t want to believe Saudi Arabia would stay on the course that it repeatedly stated it would take. They didn’t believe the Saudis were ready to crash the market if that is what it takes to retain their market share and keep Iran in a weakened position. That shows the market is operating in a realm of make-believe and denial.

What I didn’t anticipate in this situation and what nobody anticipated (that I saw) was that a total failure of the Doha meeting would end with oil prices going up the next day. Yes, they have. The oil market dropped for less than a day, and then it yawned for the rest of the week, as if it couldn’t care less about the long-anticipated Doha meeting.

But does the strengthening in the price of oil and the resulting jubilance in the stock market make any sense? In my opinion, it proves the market is truly running on the fumes of euphoria and wishful thinking….

Irrational exuberance is a precursor to all great market crashes. If the above scenario is not proof that market exuberance has reached the zenith of irrationality, I’m not sure that anything could provide proof in the face of such irrationality, for it is the irrational who will be judging the proof harshly.

NESARA- Restore America – Galactic News



Source: http://nesaranews.blogspot.com/2016/04/dohaha-slippery-oil-laughs-at-nearly.html

Report abuse

Comments

Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Top Stories
Recent Stories

Register

Newsletter

Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.