FDR ran for office during the Great Depression saying, ‘The only thing we have to fear is fear itself…that terrorizes’. We live in a society today that is driven crazy with fear. For example, during the Great Depression, our country experienced one of the worst droughts in 200 years mainly in the Midwest bread basket. FDR was cautioning people to NOT panic! Here we have a slight drought in the sliver of land along the California coast and we are told we are all going to roast to death and die and we must all PANIC like crazy due to fairly normal weather. No hurricanes, even, for years! A somewhat warm early part of winter on the East Coast is cause for pure PANIC and now we have Europe in understandable panic due to terror attacks and a million plus Muslim males invading and we are told to NOT panic over this but Europe is in a panic with borders closing and business falling off a cliff thanks to all this. Not the weather which has been very gentle until this week.
As China intervenes to support yuan due to a typical retraction in business which happens, willy-nilly like clockwork and is a fundamental part of modern capitalism, has caused fear across the board since any contraction causes hysteria in traders on exchanges due to their insane belief that everything must go up and up and up. Contrary to recent reports that we all need to panic, Asia Pacific to lead global growth in 2016, IHS economist says and part of this is due to Oil slumps to 12 year low Oil could crash to $10 a barrel,warn investment bank bears which benefits China. Saudi Arabia May Fall Victim to Oil Price War It Started in an attempt at destroying Iran which is, due to the US/EU attacks on Iran’s businesses, has little to lose, unlike Saudi Arabia, if oil exports to these countries is reduced for some reason.
Scotland is an energy producer and is being hit hard by all this, too: RBS issues ‘sell everything’ alert as fears mount of $10 oil price | Daily Mail Online
RBS tells investors ‘In a crowded hall, exit doors are small. Risks are high.’ The bank told investors stock markets could fall 20 per cent this year.
The British media and politicians are rubbing their hands with glee: BP job cuts ‘prove Scotland would have been in a financial mess if it had gone independent’. This only makes the Scots madder.Notorious ‘uber bear’ Albert Edwards warns world is headed for another 2008 crash which hurt mostly investors who panicked and ran for the hills screaming.
Stocks rally and oil rises on signs Chinese exports are in better shape than feared is the latest news of this hour. No shock to me.
Another oil country run by dictators like Saudi Arabia is in trouble in South America: Venezuela’s first lady Cilia Flores accuses US DEA of KIDNAP of her two criminal sons who are drug smugglers. Many countries depend on keeping drugs illegal since this is highly profitable. I can’t believe this stupid ‘war on drugs’ continues to roll ever-onwards. It is killing the last remains of our former manufacturing giant cities which now are illegal drug dens, for example. But then, this was created by our own rulers who lied to Americans about jobs (Ronald Reagan being the #1 to do this).
Texas doesn’t like low oil prices any more than Venezuela. Low Oil Prices Beginning to Harm the Texas Economy but due to luring many Northern businesses to the state, this isn’t causing a crash there so far. On the other hand, Europe is doomed to have chaos for a while thanks to stupid leaders who did very stupid things. Invasions are always quite destructive. I would have thought Europeans figured this out after WWI, WWII and the Cold War. Maybe European brains aren’t very bright.
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