zenfarm - 12/13/2014 09:02
What really scares me and is a lot bigger than supposed economic stimulis by lower oil prices is the very speed and extent of the oil price drop and the unintended consequences which may come as a result.
“The Economic Consequences of Global Oil Deflation”:
“Oil deflation may lead to widespread bankruptcies and defaults for various non-financial companies, which will in turn precipitate financial instability events in banks tied to those companies. The collapse of financial assets associated with oil could also have a further ‘chain effect’ on other forms of financial assets, thus spreading the financial instability to other credit markets.” (The Economic Consequences of Global Oil Deflation, Jack Rasmus, CounterPunch)
ya got to let the good times roll !!!!!!!!!!!!!!!! deflation correcting inflation ?????? anyone that does not need a bank for daily operations will survive this mad experiment !
The last time oil crashed
