Seems Like Old Times

Another ramp job on awful economic news which pretty much everybody recognizes understates how bad things really are…

…and a 46% spike in WTI futures in 4 days based on a Tweet referencing a deal: (1) which has yet to be confirmed by any of the parties; (2) could probably never get done; (3) which, if it were done, would simply slow down the rate at which supply vastly exceeds flatlining demand; and, (4) which, if it were done, would put the most vulnerable Americans deeper in an economic hole than they already are.

You’d never guess the economy was in dire straits – just like old times.

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