Every country should be stockpiling crude. They’re never going to see an opportunity like this again. It’s basically free energy.
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COVID-19 STRESS TEST – 2020-04-23
COVID-19 STRESS TEST – 2020-04-23
Countries over 5,000 cases, inc. Taiwan, and Hong Kong. Included is the 2020-04-13 stress test CFR, as well as the difference.
Previous stress test.
https://www.methylated.net/2020/04/13/covid-19-stress-test-2020-04-13/
Payroll taxes pay for Social Security and Medicare. 13% unemployed is 13% not paying payroll taxes. 20% pay cuts further reduce payroll tax contributions.
Coronavirus to accelerate Social Security, Medicare depletion dates, U.S. officials say
Job and revenue losses prompted by the coronavirus will likely accelerate the depletion of Social Security and Medicare reserves, U.S. officials said on Wednesday as they released reports showing little change in the federal benefit programs’ pre-pandemic finances.
https://www.reuters.com/article/us-health-coronavirus-usa-benefits-idUSKCN224368
Iran’s threat to shut down the Strait of Hormuz isn’t much of a deterrent when crude oil is selling for less than $0. Quite the opposite, it’s an incentive that will help raise the price of oil, helping to support US oil producers.
Trump says US will ‘destroy’ Iranian gunboats that harass American ships
President Trump warned that the United States would destroy Iranian gunboats that harass American ships at sea.
The petrodollar conspiracy theory just died a hard death, though its adherents are too illiterate to realize it.
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First growth in the vegetable garden
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Eren ruining my grass
Crude oil is -$17.53. It’s not only free, they’re paying you to buy crude oil. Was as low as -$40.32.
Not much I can add to that other than to note how nuts this is.
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Crude oil is now $11 a barrel
Crude oil is now $11 a barrel.
At this point, you’ll save a lot of money barbecuing burgers with a barrel of crude oil than with a tank of propane. Might taste funny, but that’s alright.
Who knew solving climate change was this easy. All you have to do is detain everyone forever. Well connected people exempted, of course.