kebu77

Why Stagflation Has Already Begun

"Does it not seem odd that oil prices are as high today as they were in 2007 following a 4-year world-wide economic up cycle?"

Not if you consider - -

> Peak world oil production occurred in 2008

> Opec production cutbacks, including Nigeria crashing due to bad govt.

> Mexico crashing, soon not to be an exporter

> China just completing its first SPR build out, and other large amounts of oil being hoarded at sea

> Substantial cutbacks in oil E&P investment

> failure of peoples and their govts. to recognize the need to transition to "declining oil" economies

As an old boss once asked, "What are we pretending not to know?"