Wednesday, July 05, 2017

That's Oil Folks

You May believe that we have reached the end times because we have been DUPed. You may believe that we are all going to Hell in a Hand Cart because Washington has turned into a dystopian Trumpington, Mr Kim's ICBMs or whatever. I bet  if you  go to sleep worrying about oil, it is   burning too much of it, getting enough of it,  fighting for it,  stealing it or using it on that squeaky bottom bracket. However, the reason we should have night sweats and terrors is that Central Bankers are at a complete loss as to how to decouple the system and environment of financing (low interest rates, QE and its effects) and our addiction to the oily stuff for the economy and anti-squeakyness.
I am alerted to this by the exceedingly informative podcast - Talking Politics- of a Mr Runciman and in particular by a discussion ( the last 15 minutes of the podcast if you are pushed for time) of the book - Oil and the Western Economic  Crisis- by a Ms Helen Thompson. Both I believe hold professorial posts at a nearby university.  Others are available!
Sweet dreams.