Tuesday, January 6, 2015

Cheap Oil Symptom of Failing Confidence

Cheap oil, killing jobs and leverage within sector, will soon force liquidation in other areas. This will, in turn, erode confidence within within a fragile economic/financial system plagued by failing debt/credit, a shrinking money supply, and leadership's inability to recognize these trends.

Headline: Cheap oil is killing my job

Marcus Benson moved 1,500 miles from his home in Philadelphia to North Dakota for the shale boom.

He made the lengthy drive -- with no job and nowhere to live -- in April 2012 after hearing on the news that the state had the lowest unemployment rate in the country.

"I felt like it was a good opportunity. I wasn't doing much," Benson, who had been working odd jobs after dropping out of college, told CNNMoney.



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