Still Renting

John Hussman: Is There a Possibility of $60 Oil?

Opec is not the only source of oil.

I also suspect it could go to 60 or even lower. Two years ago everyone was saying housing was merely slowing it's pace of increase and anyone that said it could or would drop was a "doom and gloomer".

Well, so was Isaiah.

If we stop buying, China stops making, and if China stops making, China stops importing from other small countries. There is no disconnect. And as we all get used to using less oil, and worldwide demand plummets, I would not be surprised to see the price pendulum swing the other way. And as someone else said, a swinging pendulum does not stop at equilibrium.