Oil Price Plunge To Economy/Stock Market: LOOK OUT BELOOOOW…”When the fire does start it’s going to look like Biblical Armageddon.”

Friday, November 21, 2014
By Paul Martin

SilverDoctors.com
November 21, 2014

The price of oil (West Texas) dropped nearly $3 and hit it’s lowest level since the 2nd half of 2010. It’s dropped 31% since July. The explanations being promoted by the mainstream blogosphere for the price decline is either 1) the U.S. has manipulated the price lower to punish Putin/Russia or 2) the Saudis have flooded the market with supply to drive U.S. oil shale/fracking out of business.
Both of those rationales are nonsense.
Instead, the plunge in the price of oil reflects the collapsing global economy, which – by the way – includes the U.S. economy.
When the fire does start it’s going to look like Biblical Armageddon.

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