Goldman Sachs only wants to put out what it wants us to hear. Having been born in West Texas, raised in West Texas, and getting the heck out of there as fast as I can, I have observed the feast and famine cycles since the 1950's. With the price of oil dropping over the last few weeks and seeing reports that West Texas crude has posted a record amount of oil produced, it seems to me that the cycle is trending downward, albeit - I am not an expert. I do subscribe to a few newsletters and Brett Eversole (DailyWealth) said this today "The U.S. just produced its highest levels of oil in nearly a half-century. According to the latest report from the Energy Information Administration, daily production broke 10 million barrels a day in November – the highest production level since 1970. The U.S. is picking up OPEC's slack. And that could put a strain on oil prices from here." Also concerning is the Future traders are at all time high (usually indicating a ripe time for a pullback).
thankins replied to Butifldrm's topic in Iraq & Dinar Related NewsIraq's idiom: “the pot calling the kettle black.” This saying, which makes a point about hypocrisy, means “to criticize someone for a fault you also possess.”