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Stock Market Plunge Today..Is It All Planned
posted ago by charmed1 ago by charmed1 +268 / -0

I think back to Bill Maher's comment after Trump's election, that he wished the US economy would tank in order to force Trump out. The fight between globalism and nationalism is real, trillions of dollars and personal power are at stake. I wouldn't be surprised if all this is planned. Biowarfare extended to economic warfare...

But have no doubt Trump will prevail.

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– DisgustedByMisleadia 1 point ago +1 / -0

Unless you think Saudi Arabia and Russia colluded to cause this, I doubt it.

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– charmed1 [S] 1 point ago +1 / -0

Early this am I was still going by the "corona virus" drop last Friday. But on Rush today he said Saudi Arabia dropped prices to bring down both Russian and Iran. There was even a speculation that Pompeo was aware of this ahead of time.

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– DisgustedByMisleadia 2 points ago +2 / -0

I'm reading conflicting accounts about that:

https://dailycaller.com/2020/03/09/saudi-arabia-russia-oil-prices-coronavirus/

Prices fell into the $30s as the Saudis push for a cut in output to prop up prices, while Russia went the other way, and decided to infuse the market with hundreds of thousands of barrels of oil, according to The Washington Post. Moscow is worried that the U.S. will use shale oil to take advantage if Saudi Arabia ease off production.

I don't know which is true. I've asked in another thread for an opinion from someone in the industry.

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– charmed1 [S] 1 point ago +1 / -0

It looks like they dropped prices and increased output..in a reversal of policy

https://www.npr.org/2020/03/08/813439501/saudi-arabia-stuns-world-with-massive-discount-in-oil-sold-to-asia-europe-and-u-

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– DisgustedByMisleadia 2 points ago +2 / -0

Interesting. I first thought that contradicted the article I cited, but now I see that it's ambiguous. Consider this:

Prices fell into the $30s as the Saudis push for a cut in output to prop up prices, while Russia went the other way, and decided to infuse the market with hundreds of thousands of barrels of oil, according to The Washington Post.

vs.

Prices fell into the $30s as the Saudis push for a cut in output to prop up prices, while Russia went the other way and decided to infuse the market with hundreds of thousands of barrels of oil, according to The Washington Post.

The first one is as it was published by DC. In the second, I only removed one comma, after other way. In the second, it's now clear it was Russia, and that's how I interpreted it. With the comma intact, it's ambiguous.

The Washington ComPost article is behind a paywall, so I can't see what they actually published. But, this article makes it clear it was the Saudi's:

https://www.cnn.com/2020/03/09/business/oil-price-crash-explainer/index.html

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