Markets have not fully priced in the current drop in oil supply of...100 million barrels per WEEK! According to CEOs of Exxon and Chevron.
An old joke: "how do you become a millionaire?" START with a billion dollars and buy an airline.
The run on gasoline is gonna cause rain, a hard rain. The result will ( not maybe) cause an economic depression. We are currently short 100 million barrels a week! This is the source of worldwide price increases including those in Ottawa that will really become apparent around election time.
Food is high and will become unaffordable, housing is unaffordable. Jobs are getting scarce. The impact of 30,000 federal workers being laid off will begin to be felt. Transit is currently ineffective and unreliable.
People need to drastically cut their spending. Travel, entertainmemt, luxury spending, repairs and maintenance- all will need to be cut.
People will need to work hard for every scarce dollar and derive self esteem from basic lifestyles, relationships and community.
Everything is going to get a lot more expensive. Even if the strait of Hormuz opened tomorrow, the effects of oil shortages will be earth shaking.
Into this current air pocket steps would be politicians. In six months all hell is going to break loose. Choose wisely. Forget about diversity, equity and inclusion - Shit is about to happen.
You want a representative who will not quit when the going gets tough, who can make tough and fair decisions based on a strong moral code, who communicates clearly...without notes, who has a track record of achievenent.

The US bond market is pushing 30 year yields have incresed to over 5%.
ReplyDeleteThis applied to their 39 trillion dollar debt out strps its ability to pay their bills.
660 families are living in hotels and motels now.
ReplyDeleteThey find life unaffordable at current rates, foodbanks are hard pressed to keep up, what will happen?
A wakeup call - AI will eliminate 89% of Business Process Outplacing jobs in the Phillipines. That is a $30 Billion a year shot to its GDP. 1.7 million Phillipinos will be affected.
ReplyDeleteHow many jobs will be impacted in North America??????