The economic problems right now are very serious, as I indicated back in October.
But the supposedly expert analysis? Perhaps less so.
This is from Reuters [ht: ja]:
“In my view, crude is still just a number on screen with little implications for most of the people and computers that are actively trading,” said Scott Shelton, energy broker and commodities specialist at ICAP in Durham, North Carolina.
“It will keep going down until the equity world stops selling off.”
Yes, that’s right: according to the experts, the price of oil will keep going down until. . .it stops going down.
You just can’t beat such an analysis, however crude and slimy.