Get Ready For U.S. Shale Oil Production To Plummet In The Months Ahead.
U.S. Oil Rig Count Fell a Whopping 9 Rigs this week.
So much for Trump's "Drill Baby, Drill."
https://x.com/SRSroccoReport/status/1931041403745812878
This is crazy: operating wells must be overflowing with water to drive such record output per well. This will end in tears and a sharp collapse in shale oil production
https://x.com/zerohedge/status/1931037212260360332
Unemployment rate in:
January: 4.011%
February: 4.139%
March: 4.152%
April: 4.187%
May: 4.244%
https://x.com/KevRGordon/status/1930966639303913917
US consumer confidence has only been lower than this once in the last 75 year
https://x.com/NorthstarCharts/status/1931097360387690500
The main message from today's employment report is that the US labor market continues to cool at a fairly gentle pace. As the chart below shows, such cooling is typical in the lead up to recessions.
If Trump further dials back the tariffs and the bond market snoozes at the prospect of ever-bigger deficits, we could get lucky this time and avoid a downturn.
Possibly, but I am not counting on it.
https://x.com/PeterBerezinBCA/status/1931031352968692149
The unemployment rate for recent college graduates has increased dramatically, as companies are replacing entry-level workers with artificial intelligence, per NYT.
https://x.com/unusual_whales/status/1931012455498498552
