"The press has been routinely creating fake news reports to start a war," exclaims Armstrong Economics' Martin Armstrong, pointing to a recent report exposing The BBC allegedly faking news over chemical attacks in Syria...
With the last day of OPEC pre-negotiations almost over, the latest from Vienna is that Iran and Iraq appear to have softened their positions ahead of a crucial OPEC meeting on Wednesday, however as the WSJ reports, "it may not be enough to satisfy Saudi Arabia’s demands for a broad-based oil-production cut."
The two main wildcards remains Iran and Iraq, the latter of which has agreed to use independent estimates of its output at 4.55 million barrels a day, however Iraq has said it would only freeze from that level, not cut.
By EconMatters
So let me get this straight a $1 difference in the oil price means an additional 1 Billion extra to Iran and Iraq`s annual oil revenue and they are fighting over a measly 200,000 barrels per day oil production delta. OPEC has to be the most incompetent organization on the face of the earth! Split the freaking difference people, and move on!!
Democratic representative Tim Ryan of Ohio is a long shot to unseat Nancy Pelosi in the vote for the minority leadership position to be held tomorrow, but he's convinced that "a lot of people are going to be surprised" by the vote tallies.
“I think a lot of people are going to be surprised tomorrow.”
“I think we need a change. Again, we’re at the smallest number we’ve had in our Democratic caucus since 1929.”
Following former Goldman Sachs' partner Steve Mnuchin's visit to Trump Tower this morning (as the decision over Treasury Secretary looms), the Trump transition team just announced that Donald Trump and Mike Pence will meet with Goldman Sachs COO Gary Cohn (but provided no details on whatthey would discuss).
As Bloomberg reports, Cohn joins a long line of people who are offering advice or being considered for administration positions.