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December 10, 2014
The News Entire World Waited For – Perfect Storm From China Has Arrived
By Live Free or Die
In the brand new video below from Bloomberg News, we’re immediately warned this is the news all of the world markets have been waiting for as 2015 demand for oil will be the weakest in 12 years and oil prices continue to tumble. While many believe the continuing plunge in oil prices to be a good thing, this linked story from Zero Hedge gives 10 reasons why plunging oil prices is actually a huge economic problem. Vladimir Putin warned only a month ago $80 a barrel could lead to global economic collapse (3rd video below). Meanwhile, Iran warns of oil dropping to $40 a barrel if either a price war occurs or divisions emerge within OPEC.
Here Nobel Laureate Michael Spence of the NYU School of Business joins Bloomberg News to talk about OPEC and its’ cutting on crude oil demand forecasted to its’ lowest level in 12 years while Kuwait is offering even more discounts to their customers in Asia. Meanwhile, the Saudi Arabian oil minister is questioning why they should cut production.
“Why should I cut production?” Ali Al-Naimi, Saudi Arabia’s oil minister, said in response to reporters’ questions today in Lima, where he’s attending United Nations climate talks. “This is a market and I’m selling in a market. Why should I cut?”
Will these falling oil prices lead to disaster and a further collapse of the US economy? The 2nd video below from Stefan Molyneux shares THIS IS the sign of economic collapse we need to watch for while a month ago, Vladimir Putin warned that the world economy would COLLAPSE if oil stayed at $80 a barrel as shared in the 3rd video below.
