Thursday, January 15, 2015

It's too late to panic. We've been floating in space like Wile e Coyote for months. People just didn't believe it.

The thing that bothers me most about the oil collapse is how everyone in the oil industry was taken so by surprise. In The Valley, it's very hard to keep secrets in sectors. They all kind of roughly know what their competitors are doing. Sometimes they surprise you.

Mr S. and I were talking about this a lot  last night and we both came to the conclusion that they ( the oil people) must have been drinking the cool aid thinking the economy was getting better. It does no one any good if you cave the whole sector. You might risk putting yourself out of business in the process. No sane sector works that way. They must have expected demand to be much higher.

It doesn't matter now though. Copper and Cotton are telling the whole story.

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