Both excellent articles. They present both sides of the arguments well.
Can anyone explain why going from 86 mill b/d to 83 mill b/d ie 3.5% reduction is "Incredible".
Id say its incredible its not more of a reduction, given the climate we are in, but i dont think thats what he means.
Did anyone watch "Teleb"s interview on CNBC tonight, author of "The Black Swan" a book about rare events.
He tried to explain it in the most simple terms, and I find it amazing that the media and public and govts cant grasp mass deflation. His concept was simple: "we need to convert debt to equity and start again"
Anyone care to state what that will do to the price of oil?
oilprice, page-3
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