Holiday gloom.

There is enough shitty stuff in the economy to read about so I wasn't going to post about that today. That is until I saw the oil inventories from last night. Which were bloody frightening. Of course, we don't really know what the real story is any more about financial data because President Money Bags is in full propaganda mode. BUT - this is the read I believe. Emphasis mine.

"The U.S. Energy Information Administration reported that crude supplies climbed by 3 million barrels for the week ended Nov. 22. Analysts polled by Platts expected a decline of 1.5 million barrels.

Late Tuesday, however, the American Petroleum Institute late Tuesday had reported a much bigger 6.9 million-barrel increase so crude futures managed to pare some of the earlier losses that sent prices to a low of $92.04."

They expected a decline of 1.5 million barrels. That is a huge miss. Almost 8.5 million barrels.  This kind of a miss is as big as during the deepest parts of the recession. Enjoy your holiday to the fullest because things are about to get real. If we are having a build like that, deflation is back to breathing down our necks. Which means the printing presses will start in earnest. And us much as people hate inflation - it feels a million times better than deflation. I'm not saying it is.

People are geared towards status, so the more expensive something is - the more people want it. Hey - it's not my rules. Look around. They may bitch about it, but that doesn't change the stupid impulses that we all have.