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nuckin_futz

Saudi Arabia declares oil price war on fellow OPEC (and non OPEC)members.

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21 minutes ago, AriGold2.0 said:

Oh boy.. The stock market just got shut down..

 

Recession is coming...

 

Image result for here we go gif

This isn't funny at all. Canada is so ill-prepared for a global recession. We have been piling up massive debt and we are running a huge deficit which makes a recession a very hard thing to cope with

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3 minutes ago, Ryan Strome said:

This isn't funny at all. Canada is so ill-prepared for a global recession. We have been piling up massive debt and we are running a huge deficit which makes a recession a very hard thing to cope with

But just remember the left will find a way to continue to blame Harper for all their current problems (ala Meanwhile In Canada on twitter)

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23 minutes ago, Ryan Strome said:

This isn't funny at all. Canada is so ill-prepared for a global recession. We have been piling up massive debt and we are running a huge deficit which makes a recession a very hard thing to cope with

more debt :)

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Posted (edited)
2 minutes ago, nuckin_futz said:

more debt :)

It's getting even worse. Oil company stocks are dropping 35 40% TSX and dow  are tumbling Canadian dollar is in free fall

Edited by Ryan Strome

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Nuttiest day I have seen in 11 years. Almost forgot markets are actually capable of this type of behavior. Things moving so fast I can barely keep up.

 

 

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2 minutes ago, nuckin_futz said:

Nuttiest day I have seen in 11 years. Almost forgot markets are actually capable of this type of behavior. Things moving so fast I can barely keep up.

 

 

Lots of discussion it will be short-term but no guarantees at all. But honestly I think this has the possibility of leading to a conflict. Here's something to think about that is getting no attention North Korea fired off some missiles this weekend. Shows how important what is going on really is there is plenty of countries in Europe that absolutely cannot handle a global recession. I imagine Venezuela will be completely bankrupt after this.

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Posted (edited)
6 minutes ago, Ryan Strome said:

It's getting even worse. Oil company stocks are dropping 35 40% TSX endow or tumbling Canadian dollar is in free fall

CAD was way worse last night. USD/CAD was 1.3763 it's back to 1.3530.

 

Wouldn't touch CAD with a barge pole. Falling oil, falling interest rates, no ty.

 

Oil has me confused though, almost $7 off the bottom. Even with news like this ..........

 

Russia plans to boost oil output within weeks

Mon 9 Mar 2020 13:31:16 GMT

 

This price war is insane

This price war in insane
Bloomberg reports that Russia's Rosnet is planning to boost oil production as soon as April 1.
 
The person, who spoke on condition of anonymity, said that Rosneft had prepared for any scenario and would be able to withstand the current plunge in oil prices. Asked how rapidly Rosneft could increase production, the person said analysts who estimate the company could boost output by 300,000 barrels a day within a week or two are well informed.
 Russia's finance ministry said earlier that the country's oil-wealth reserves would be sufficient to cover lost revenue "for six to 10 years" at oil prices of $25 to $30 a barrel.
 
This is an oil bull's dystopia.

 

 

Edited by nuckin_futz

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1 minute ago, Ryan Strome said:

Lots of discussion it will be short-term but no guarantees at all. But honestly I think this has the possibility of leading to a conflict. Here's something to think about that is getting no attention North Korea fired off some missiles this weekend. Shows how important what is going on really is there is plenty of countries in Europe that absolutely cannot handle a global recession. I imagine Venezuela will be completely bankrupt after this.

Venezuela was already teetering on the bring, this might throw them in a Greece like condition where everything there is right broke.

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5 minutes ago, Ryan Strome said:

Lots of discussion it will be short-term but no guarantees at all. But honestly I think this has the possibility of leading to a conflict. Here's something to think about that is getting no attention North Korea fired off some missiles this weekend. Shows how important what is going on really is there is plenty of countries in Europe that absolutely cannot handle a global recession. I imagine Venezuela will be completely bankrupt after this.

Yeah I saw that. Lil Kim doesn't want to be left out of all the fun today.

 

Any recession will be wallpapered over with lots more debt. Count on it.

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5 minutes ago, Russ said:

Venezuela was already teetering on the bring, this might throw them in a Greece like condition where everything there is right broke.

Apparently there is insane inflation in that country

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3 minutes ago, nuckin_futz said:

finance ministry said earlier that the country's oil-wealth reserves would be sufficient to cover lost revenue "for six to 10 years" at oil prices of $25 to $30 a barrel.

 
This is an oil bull's dystopia.

 

 

Well there goes the Canada oil sands.  I guess KoS will be happy that we will stop extracting, problem is thats a lot of jobs and revenue and we aint getting any money from it going into green energy now... Plus loads of people are gonna be jobless looking for work pretty quick here at this point if our oil sands crash bad.

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Posted (edited)
4 minutes ago, Ryan Strome said:

Apparently there is insane inflation in that country

Is 9585% still considered insane these days?

 

Inflation elsewhere is practically non existent.

Edited by nuckin_futz

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Posted (edited)

Day wouldn't be complete without some excuses from this Fruit Loop  :lol: ............

 

Trump says Russia, Saudi Arabia and fake news are the reasons for market drop

Mon 9 Mar 2020 14:39:56 GMT

 

Tweet from the President

Inspiring tweet from the man in the White House:
Tweet from the President
Edited by nuckin_futz
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15 minutes ago, Ryan Strome said:

Lots of discussion it will be short-term but no guarantees at all. But honestly I think this has the possibility of leading to a conflict. Here's something to think about that is getting no attention North Korea fired off some missiles this weekend. Shows how important what is going on really is there is plenty of countries in Europe that absolutely cannot handle a global recession. I imagine Venezuela will be completely bankrupt after this.

Well the second horseman of the apocalypse is war. Pestilence is already riding in.

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Economy lost a few billion dollars today

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6 minutes ago, nuckin_futz said:

Day wouldn't be complete without some excuses from this Fruit Loop  :lol: ............

 

Trump says Russia, Saudi Arabia and fake news are the reasons for market drop

Mon 9 Mar 2020 14:39:56 GMT

 

Tweet from the President

Inspiring tweet from the man in the White House:
Tweet from the President

Another one...

 

 

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53 minutes ago, Russ said:

But just remember the left will find a way to continue to blame Harper for all their current problems (ala Meanwhile In Canada on twitter)

This is about as stupid as blaming all of this current issue on trudeau.

 

When you sound dumb you sound dumb

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6 minutes ago, Canorth said:

Another one...

 

 

Yeah great news for all the shale producers who'll be driven out of business.

 

MAGA

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28 minutes ago, nuckin_futz said:

CAD was way worse last night. USD/CAD was 1.3763 it's back to 1.3530.

 

Wouldn't touch CAD with a barge pole. Falling oil, falling interest rates, no ty.

 

Oil has me confused though, almost $7 off the bottom. Even with news like this ..........

 

Russia plans to boost oil output within weeks

Mon 9 Mar 2020 13:31:16 GMT

 

This price war is insane

This price war in insane
Bloomberg reports that Russia's Rosnet is planning to boost oil production as soon as April 1.
 
The person, who spoke on condition of anonymity, said that Rosneft had prepared for any scenario and would be able to withstand the current plunge in oil prices. Asked how rapidly Rosneft could increase production, the person said analysts who estimate the company could boost output by 300,000 barrels a day within a week or two are well informed.
 Russia's finance ministry said earlier that the country's oil-wealth reserves would be sufficient to cover lost revenue "for six to 10 years" at oil prices of $25 to $30 a barrel.
 
This is an oil bull's dystopia.

 

 

Our only saving grace will be how much gold is listed on our index.  This run will lead to a stampede for gold/silver of which we list more than most stock markets.  The yoyo effect over the next week will be interesting to see

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1 hour ago, CBH1926 said:

Those of us that own stocks better grab biggest tub of lube today. Do not use hand sanitizer unless you are Sanders fan and like to "feel the bern" 

Yup! I’m buying this morning. Trying to pull a Buffet. Would love to be in his war room this morning.

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