Comments On The OPEC Meeting, The USD, and Why Trade Wars Will Result In Deflation
Chris Temple joins me today to share his thoughts on the recent OPEC meeting and some of the more important markets. We address the overall oil sector strength even in the face of an output increase from OPEC. Also we get Chris to elaborate on his comment earlier this week that trade wars and tariffs will results in deflation.
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Crude Oil Leaks Into Floodwaters After Train Derails In Iowa
Jun 22, 2018 – Associated Press
Jeff Sessions Floats Federal Law that Would Protect States that Decriminalize Marijuana
June 18, 2018 – The Hill
Hungry rat shreds more than $17,500 of cash inside ATM in India
(Rat now being pursued for a promising management position and career at the bank)
I was thinking at first it may be Templeton the rat from Charlotte’s Web:
A rat that hangs out with pigs and eats money sounds like the ideal banker resume:
Time magazine rings Anti-American
Chris, you talk about the demand side but continue to ignore supply side. Based on your argument you are saying that the U.S will see a greater decrease in demand than the decrease in supply of goods.
I think industries, especially in China, will be completely ready to drop production when more tariffs come on line. I also think there is a chance (with Trump going after oil prices, the EU, China, Turkey, Canada, Mexico……) that some of these nations may just say “enough is enough” and cut off supply. With people submitting complaints to WTO / United Nations there is also a small chance for a call for trade sanctions. Trump has been continually pushing America towards isolationism.
Do you really believe the decrease in demand will outpace the decrease in goods supplied to America? Even if you believe the result of deflation you skipped the next step that comes after a decrease in demand, a multitude of companies going out of business… also causing a supply decrease.