Zoals ik al zei, er is niemand gebaat en zeker niet Europa bij een lage olieprijs !!!
OUTSIDE THE BOX GET EMAIL ALERTS
Opinion: Plunging oil prices will starve the world of its economic fuel
Published: Dec 5, 2014 12:55 p.m. ET
157 27 67 716
Low prices mean no new oil, and no new oil means no growth
Getty Images
If oil prices do not recover and quickly, the U.S. shale miracle will rapidly turn into a shale bust.
By
CHRIS
MARTENSON
The world economy is slowing down and the authorities are worried.
Besides the official gross domestic product statistics, we have further confirmation of this slowdown from the four big commodities associated with growth; oil CLF5, -3.52% (-40% from June 2014), coal (-52% from peak in 2010), copper (-14.4% in 2014), and iron ore (-41% year-to-date 2014).
Japan, Italy, and Greece are all in recession. China is slowing down according to its official statistics, and even more according to the whispers.
The days of rapid economic growth are behind us because the days of cheap oil are behind us.
Germany, France and the Netherlands are all at stall speed.
The U.S. is, according to the Commerce Department, doing just great at nearly 4% growth, but you wouldn’t know that from either the quality of the new jobs being created (which is low) or consumer spending (also low).
The worry, as always, has nothing to do with the central banks’ concern for you, your job, your children, wealth equality, or the future, and everything to do with the simple fact that the stability of the banking system absolutely depends on a steady stream of new loans being created.
The core of the problem is that we have a monetary system that is either expanding or collapsing. It has no steady state.
In 2008 and 2009, net credit creation was only slightly negative, but that was enough to very nearly cause the entire system of money and banking in the developed world to collapse.
Either money and credit are expanding and the banks are relatively happy or the banks are collapsing and demanding taxpayer bailouts. It’s really that stark.
Now after the most heroic run of interest rates forced to zero (ZIRP) and below (NIRP in Europe) and the grandest experiment with money printing in global history, credit growth is somewhat back on track but not enough to ease the bankers’ worries.
So they continue to pump, and jawbone, and panic at every slight downturn in wildly inflated financial asset prices because those are their only major successes in this drama.
The actual economy, the one that lives on Main Street, never really recovered, at least not compared to past recoveries. Growth, jobs and incomes all were anemic compared to prior recoveries. Capital expenditures by corporations were all but dead in the water throughout the “recovery.”