Saudis try for #oilpricehike but #oil runs instead into unmovable #recession. The real #economy continues to weaken which means demand is dominating market factors, not supply. Confirming the oil market’s view of the situation, key US services data tumbles.
Eurodollar University’s Money & Macro Analysis
CNBC:
Twitter:
RealClearMarkets Essays:
THE EPISODES
YouTube:
Vurbl:
Apple:
Deezer:
iHeart:
TuneIn:
Castro:
Google:
Reason:
Spotify:
Pandora:
Castbox:
Podbean:
Stitcher:
PlayerFM:
Podchaser:
PocketCast:
SoundCloud:
ListenNotes:
AmazonMusic:
PodcastAddict:
PodcastRepublic:
DISCLOSURES
Jeffrey Snider (The Promoter) is acting as a promoter for an investment advisory firm, Atlas Financial Advisors, Inc. (AFA). Jeffrey Snider is affiliated with AFA as a promoter only and is not in any way giving investment advice or recommendations on behalf of AFA. The Promoter is being compensated by a fee arrangement: The Promoter will receive compensation on a quarterly basis, based on the increase in account openings that can be reasonably attributed to the Promoter’s activity. The Promoter will not be receiving a portion of any advisory fees. The Promoter has an incentive to recommend the Adviser because the Promoter is being compensated. The opinions expressed on this site and in these videos are those solely of Jeffrey Snider and Eurodollar University and do not represent those of AFA….(read more)
BREAKING: Recession News
LEARN MORE ABOUT: Bank Failures
REVEALED: Best Investment During Inflation
HOW TO INVEST IN GOLD: Gold IRA Investing
Desperate act confirms global recession conditions
The recent news of a desperate act in a major city has cast a grim light on the current state of the global economy. In a stunning display of the impact of recession conditions, a man was reported to have stolen food from a local supermarket in broad daylight. This act, while shocking, is unfortunately only a glimpse of the economic struggles faced by people around the world.
The desperation and hardship of individuals and families living in recession conditions cannot be denied. The impact of the global recession is being felt in every corner of the world, as job losses, business closures, and financial uncertainty continue to plague communities. The recent act of theft serves as a stark reminder of the human cost of economic downturns.
The global recession conditions have been exacerbated by the ongoing COVID-19 pandemic, which has led to widespread unemployment and financial insecurity. Many businesses have been forced to shut down, leading to a wave of job losses and economic uncertainty. The resulting impact on individuals and families has been devastating, with many struggling to put food on the table and pay their bills.
The recent act of desperation serves as a wake-up call to governments and policymakers around the world. It is clear that urgent action is needed to address the economic struggles faced by individuals and families. This includes measures to create jobs, support small businesses, and provide financial assistance to those in need.
It is also a reminder of the importance of addressing the root causes of economic downturns, such as income inequality and lack of access to basic necessities. It is not enough to simply provide temporary relief to those in need; long-term solutions are needed to address the systemic issues that contribute to economic hardship.
In the face of global recession conditions, it is crucial for communities to come together to support those in need. This includes providing food assistance, job training, and access to social services. It also requires a commitment from governments and businesses to create sustainable economic opportunities for all.
The recent act of desperation should serve as a rallying cry for action. It is a stark reminder of the human cost of economic hardship and the urgent need for solutions. If we are to emerge from the current global recession conditions, we must work together to create a more equitable and prosperous future for all.
Ok…one thing about oil. The US buys almost no oil from Saudia Arabia. So dropping oil demand around the world has a BIG EFFECT on S.A. And really does show a non US/Mexico/Canada world wide recession. But because the 3 North American countries are basically energy independent. It does NOT show a major recession. That being said. I do believe that there will be some small pain for the 3. But not like the rest of the world, most of the rest of the world is in for some moderate or in some other's (like China) major pain.
Nice mullet.
Something something deflation.
Something something economy.
memory is short
I will be forever grateful to you, you changed my whole life and I will continue to preach on your behalf for the whole world to hear you saved me from huge financial debt with just a small investment, thank you Mrs Claudia Jenkins.
If they really wanted to hurt the short sellers, they should have made, or at least announced their own commodity exchange.
One that isn't manipulated with loads of paper contracts, with no real commodities backing them. Now they will just spin this oil cut as bearish for oil because it's a sign of "recession", even though the actual fundamentals are extremely bullish.
Jobs are strong, we have a tight job market at the moment, people are not unemployed, we have inflation, and high demand.
But what do i know….
Can i prove that commodities are manipulated? Not really, do i know they are manipulated based on the data? i am absolutely certain, and it will bite us in the butt really hard when we have shortages.
But yea, keep doubling down and tripling down on stupid on the recession narrative. We are not in a recession like 2008, we are in stagflation.
Just curious Jeff… I thought Tracy Shukart was the oil expert with you and Steve… why do you not have her on your show explaining these oil details. Maybe give that some thought.
Do you mean backwardation?
https://youtu.be/1sCq9FJQQNA
Saudi Arabia has lost its nerve over a fight with Russia it is Russian rampant pumping of oil and dumping it on the market at any price it can get that's sinking the oil price
It just seems like he has his terminology very much mixed up…when prices are expected to go from a current low point to a high point later that is contango and when current prices are expected to go from a current high point to a low point in the the future that is backwardation.
Prices go from low to high in contango and from high to low in backwardation his terminology at least as I keep seeing him explain it is very mixed up.
they didn't do it for the immediate price hike.
Great info and presentation
Too much of same Blah Blah every day. I now just listen to the last three minutes.
I'm having a bad year; SBUX is down by $40k, ALLP is down by $35k, Draft Kings is down by $6k, NIO is down by $15K, ABML is down by $8K, and my husband is unaware. I'm only clinging to Jim Cramer's advice regarding opportunities during erratic market conditions in the hopes that I can either wait for a recovery or choose profitable investments to make up for my loss.
Bruh… it's only deflationary because oil is pegged to the dollar still. That's why it's called "petro-dollar". It's just pushing the oil producers to stop selling oil for dollars or measuring oil price in dollars, it just doesn't work anymore. So it's not "stagflationary new great Depression" it's just end of the petrodollar. What happens if you stop measuring oil prices in dollars you ask? The contango correlation sisappears and oil price in dollars shoots up ten times (or more) overnight so does all other prices. The hyperinflation is most likely scenario
what is wrong with Saudi trying to preserve their reserves and trying to stabilize the price? once the oil is pumped out and sold the depletion is noted…so as long as Saudi wants certain pricing they can definitely control their output… So when the rest of OPEC continues their merrily volume, Saudi tweeks their own 9 million barrels per day or even less… if they dont need the money they dont need to sell and why must the media have to be so jubilant that the "desperate act fails?" for all the years when Saudi was lap dog nothing was said but now that they are pricing their oil in PetroBrics -all hell breaks out… so sad the biaseness of the media and the vitriolic toxic comments – wow that is classy
Thanks for going into the item of oil contango.
Stupid amount of adds on this particular video.
Oil opened down almost 2% in europe. Saudis oil cut news didn't last long
You really don't have a clue do you?
Front month CL is about a dime in Contango, which is basically meaningless to even talk about.
You see, when you cherry pick a data point to fit your commentary, you miss the fact that CL is actually in Backwardation from Aug 23 all the way out. Let's not overlook BZ (Brent), which is also, you guessed it, in Backwardation…
can you discuss the effects of working from home on the economy? i would think it is a major deflationary force.
Faded the rip. OPEC toothless and clueless! Crude supply/demand balance is around $50
So it a recession or a dollar shortage after all? Snider is schizophrenic.
I don't think it is legal to call yours an university without actually being an university.
So… that petro-yuan didn't really work, lol.
Keep up the great work Mr. Snyder.