Greetings from Jason Schwarz, asshats!
Mr. Schwarz knew that some IB was going to dump a bunch of its CR portfolio. Prices fell to $111. That does not change a thing. World oil production has been flat for four years, in spite of record prices. World spare capacity is ZERO, and has been for five years. The world’s greatest oil fields are in terminal decline, and no one is finding new Ghawars. The world economy is in a downward spiral that can not be stopped.
It certainly is heartening to see someone cheerleading the onset of the next Greatest Depression. Cheer on JD.
The asshats are the numerous folks in here who ignorantly failed to heed the warning, and got financially reamed.
The asshats are the fools that can’t correlate the facts with realility. The banking system has lost $470 billion in the last year and they have at least $3 trillion to go, assets are losing at least $10 trillion in value per year, and the entire world’s economy is shutting down. Autos, banking, real estate, airlines, shipping, and consumer spending are collapsing.
A little more good news like what we have seen lately and the best business recommendation that mr. schwarz will be able to give will be to open a funeral parlor.
“Sometimes it is hard to tell if a man is blind - or just stupid!”