1202-dre-blog

Don’t Bet on $70 Oil Lasting Long

Outside of the big oil exporting countries and the US shale-oil business this big drop in prices is widely seen as good news.

Consumers fill their tanks at lower gas prices and have a few bucks left over – money that can be used to buy things. According to the current and conventional delusions of the economic profession, this leads to sustained higher economic growth, more jobs and a cure for impotence.


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Puttin’ the Hurtin’ on Gold Miners

The yellow metal lost nearly 1.8% of its value on Friday. And the big precious-metals miner stocks ETF, GDX, plummeted 8.7%.

Meanwhile, Thanksgiving was a success in the Bonner household. In Maryland, tobacco barns are falling down faster than World War II veterans. Your correspondent had planned to try to rescue one of them – using the strong backs of his sons, two of their friends visiting from France and our regular weekend helper, Fernando from Honduras.