Do you think that the propaganda narrative which explains the collapsing price of oil as being due to a supply glut has any basis in reality?
If you do, the answer this question – where did this come from?
Australia’s biggest coal exporter Glencore will suspend its Australian coal business for three weeks in a move never before seen in the Australian market, to avoid pumping tonnes into a heavily oversupplied market at depressed prices.
Another supply glut, perhaps? Or could it, just possibly, be a global demand issue? Think about it. Think again.
Oh, and you Keynesians, that 2% inflation thing? Good luck with that…