Times are tough in DAVOS. The little rich guys and their families are over their for their annual "HOW WE ARE GOING TO FUCK THE REST OF THE PEOPLE" meeting where the price of a hot dog is $43. Yep times are tough in Davos.
One of the I got rich off of Hedge Funds fellows in a speech said we are going to have to learn to do with less. (he flew his wife, children and two nannies to Davos) yep that's less.
They meet in secret, countries craft treaties in secret, countries lie through their asses on national statistics and we the masses soak it up like good beef gravy on bread. Some do understand we are mushrooms being fed bullshit to make us grow. News flash , we are still being fed bullshit but it don't cause growth anymore.
2015 is not going to be a fun year by any measure. Failures I have been talking about may finally show up this year ironically by the surprising drop in oil prices.
The drop in oil prices will make one of my very early predictions that Shale oil was not the great 100 year supply of oil and certainly will not make us energy independent. You can already see the decline in drilling rigs and the dramatic decline of aging wells. Three years and done is the general rule. Their costs run about $80/bl to produce they weren't making money at 100 oil , they sure won't make it at 40 dollar oil. Their bankruptcies will cause huge market disruptions as they have been financed by funny money vehicles, that have the ability to bring down the TBTF banks.
Needless to say if you have been reading this blog for long you know I don't have a rosy horizon for the US or the world.
The US has mounted a ill disguised attack on Russia by using Ukraine as the bait, the anticipated results have not happened. Instead Putin set out to make huge deals with China, Turkey and others that will make our puny efforts to bring him down fail. In gives me great pain to root for Putin in this ill planned attempt to bring him down. Not thought about by us was how the rest of the EU would react to the sanctions placed on Russia. Some of the EU folks lost 50% of their exports do to those sanctions and will probably drop out one by one making us look like fools . Which we are.
So as a reward for your faithful reading of my blog I am enclosing the following link to JAMES HOWARD KUNTSLER'S 2015 PREDICTIONS
His piece is quite long but tough it out, you will end up with a clear picture of what to expect the coming year and how you should be planning to survive in the future.