from Kitco NEWS:
by Peter Schiff, Schiff Gold:
US stock markets took another nosedive last week. Analysts blame the selloff on fears that the arrest of a Chinese businesswoman could derail apparent progress in resolving the trade war between the US and China. But during an interview on RT America, Peter Schiff said that while the arrest of Meng Wanzhou might have sparked the selloff, it wasn’t the underlying reason.
This is a bear market. That’s why the market went down. If it wasn’t that, they would have found another excuse. If we were in a bull market, I think the market would have shrugged it off. So, we’re going lower.”
by Steve St. Angelo, SRSRocco Report:
Has Peaked Diesel arrived? Well, if so, it is terrible news for the automobile and trucking industry as well as the overall economy. I came across this information from an article written by Antonio Turiel on his The Oil Crash website. The article provides some sobering data suggesting that the global production of diesel fuel may have peaked.
Furthermore, due to the peak of conventional oil in 2005 and the considerable increase of U.S. shale light tight oil, the production of heavy fuel oil (not diesel, rather bunker fuel for ships, etc.) has also declined. Turiel explains in the article The Peak of the Diesel: 2018 Edition, that the refineries cannot make as much diesel from the U.S. light tight shale oil, so they are forced to crack the heavier fuel oil to make diesel. If true, what we have here is the cannibalization of the refinery system to continue to produce diesel at the expense of the heavier fuel oils.
by Dave Kranzler, Investment Research Dynamics:
I chuckle when the hedge fund algos grab onto “positive” trade war headlines and trigger a sharp spike in stock futures. Settlement of the trade war between the Trump Government and China will do nothing to prevent a global economic recession – a recession which will likely deteriorate into a painful depression. The Central Bank “QE” maneuver was successful in camouflaging and deferring the symptoms of economic collapse. Ironically, treatment of the symptoms made everyone feel better for a while but the money printing ultimately served only to exacerbate the underlying financial, fiscal, economic and social problems that blossomed after the internet/tech bubble popped.