While the media continues to blast the occasional OPEC production-related headline, the reality is that crude supply is increasingly becoming a shale story, as the US, now tens of billions in debt lighter - has rapidly emerged as the low-cost, marginal oil producer.
Via Christof Gisiger of Finanz und Wirtschaft,
James Bianco, president of Bianco Research, thinks that the Federal Reserve will have to jack up interest rates and the US stock market is running into trouble.
By EconMatters
Via Charles Hugh-Smith of PeakProsperity.com,
In the past, I've warned about the coming Great Wealth Transfer. But now we need to talk about it in the present tense, because it’s here.
And it will only accelerate from here on out. The Rich will get richer at the expense of everybody else.
This isn't personal. It's simply a feature of what happens near the end of a debt-based monetary system run by corruptible humans.
There were no surprises in Yellen's speech in Chicago on Friday in which the Fed chair confirmed the sudden and dramatic hawkish turn hinted at earlier in the week by Dudley and Williams, and which sent March rate hike odds from the low 30s to nearly 100% in the span of days.