Tuesday, March 29, 2016

These people are just batshit crazy.

Now I've heard everything!

"Oil watchers are eyeing a potential freeze by producers as the next catalyst for the commodity, but one oil bear says crude's biggest obstacle is already here.

"I think Uber is a threat to oil for the simple reason that millennials have embraced it dramatically," Dennis Gartman, editor of The Gartman Letter, told CNBC's "Fast Money" traders on Monday. "The millennials are saying 'I really don't need an automobile." Source.

Shut the fuck up. Last year we hit record auto sales. (outside of two crazy spikes) Here is a longer term chart. The cab industry has never caved oil prices. These people are just making shit up to hear themselves speak.

First Millennials weren't going to buy houses. Then they weren't going to buy cars. Once this generation realizes the "sharing" economy is really the "renting" economy their patterns will change. That would be like saying the 2 new BART stations the Bay Area is getting is a threat to oil.

Why doesn't he freak out about telecommuting? That's a threat to oil isn't it? Said in the most sarcastic way.

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