RE: Large sells14 Jul 2023 20:12
Gingy I will tell you there are two evils right now. Oil producing countries are cutting production to push oil prices up other countries are increasing interest rates on debt to take money out of circulation as a counter act. Basically so countries who import oil can’t and won’t pay. The main problem is oil producing countries needed 80$ oil but now due to the cuts selling less for more they now need something like 105$ to balance their books. Who will win?? The real economy need lower oil price around $50-60$ Oil producing countries now need over $100 who will snap first I’m out at the moment but if I was to bet it wouldn’t be on massive money printing exercise to pay for oil it would be on the economy having a massive contraction to prove the real value of natural resources. Time will tell are we going to see a massive push for the ftse hit 10,000 for the first time or 5000 again for the 6th time in the last 50 years?? With risk free 6 percent on savings where will the push to 10,000 come from? The next cycle and the next drop of interest rates not back to 1 percent. But most likely from 10 percent back to 5 percent that’s where we will see the next push up to 10,000.