And so it begins,…….
- it was sparked off by a 9% drop in china’s new stock market which had posted incredibly stupid gains over the past 2 years.
- that plus the fact that the durable goods orders were much shittier than expected. durable goods data logs the amount of sales of big stuff like cars, fridges, tv’s and washing machines in the US.
- what that basically means is that the american consumer isnt going to survive the $60 price tag on oil like everyone thought they would in ‘06. theyre spending more on gas and getting to work, and spending less on buying stuff from other sectors.
- if you think thats good news for the oil producers,…. well you’d be wrong since a big chunk of crude oil actually gets turned into synthetics and plastics.
- if they dont buy shit, shit dont get turned into plastic to make shit to be bought.
- although i thought something might happen this year in china,….. i didnt think it would happen this early, nor have such extreme repurcussions so quickly.
- and while tomorrow is a new day, i think we can assume that they’ll be panicing even more after they check out what happened in the US today.
- buckle up folks, its gonna be a bumpy ride
- mwuahahahahahahaha!
