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