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Did We Just Witness The Last Great Black Friday Celebration Of American Materialism?

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Black Friday - Photo by PowhuskuAmericans are going to spend more than 600 billion dollars this Christmas season, and on Friday we got to see our fellow citizens fight each other like rabid animals over foreign-made flat screen televisions and Barbie dolls.  As disgusting as this behavior is to many of us, there may soon come a time when we will all fondly remember these days.  Most Americans are completely unaware of what is currently happening in the financial world, but right now there are deeply troubling signs that we could be on the verge of another major global financial collapse.  If the next great economic downturn does strike in 2015, that could mean that we may have just witnessed the last great Black Friday celebration of American materialism.  As you read this, stock prices are approximately double the value that they should be, margin debt is hovering near all-time record highs, and the “too big to fail” banks are being far more reckless than they were just prior to the last major stock market implosion.  So many of the exact same patterns that we witnessed back in 2007 and 2008 are repeating right now, and as you will see below, this includes a horrifying crash in the price of oil.  Anyone with half a brain should be able to see the slow-motion financial train wreck that is unfolding right before our eyes.

Every year, it has been my tradition to write an article about the mini-riots that erupt in retail stores all around the country on Black Friday.  This year things were a bit calmer because so many stores opened up on Thanksgiving itself, but there was still plenty of chaos.  For example, in the video posted below you can see women viciously fighting one another over discounted lingerie and underwear…

But instead of launching into another diatribe about how we are committing national economic suicide by buying hundreds of billions of dollars of foreign-made goods with money that we do not have, I want to focus on what is coming next.

You see, I believe that in the not too distant future many of us will be wishing for the days when the debt-fueled U.S. economy was healthy enough for people to be wrestling with one another on the floor over good deals in our retail establishments.

The next great financial crash (which many have been anticipating for years) is rapidly approaching.  So many of the same things that happened last time are happening again.  As I noted above, this includes a crash in the price of oil.

In the months prior to the last stock market collapse, the price of oil began plummeting dramatically in the summer of 2008.  This was an “early warning signal” that something was deeply amiss in the financial world…

Oil Price 2007 - 2008

Many people assume that a lower price for oil is good for the economy, but the exact opposite is actually true.  The oil industry has become absolutely critical to the U.S. and Canadian economies.  And in recent years, the “shale oil boom” has been one of the only bright spots for the United States.  If the shale oil industry starts to fail because of lower prices, a lot of the boom areas all over the nation are going to go bust really quickly and a lot of the financial institutions that were backing these projects are going to feel an immense amount of pain.

Unfortunately for us, the “shale oil revolution” simply does not work at 80 dollars a barrel.

And it certainly does not work at 70 dollars a barrel.

As I write this, U.S. crude is sitting at about 66 dollars a barrel due to OPEC’s recent decision to not cut output.

That is the lowest price for U.S. crude since September 2009.

So just like we saw during the summer of 2008, crude oil prices are collapsing once again.  The chart below comes from the Federal Reserve, but it is a few days out of date.  Now that the price of crude is down to about 66 dollars, you have to imagine the price actually going below the bottom of this chart…

Oil Price 2013 - 2014

Needless to say, this price collapse is having a huge impact on the stock prices of oil companies.  The following information about what happened in the markets on Friday comes from Business Insider

Here were some of the biggest losers on Friday:

  • BP (BP), down 5%
  • Royal Dutch Shell (RDS.A), down 6%
  • Total (TOT), down 5%
  • Statoil (STO), down 14%
  • Exxon Mobil (XOM), down 5%
  • ConocoPhillips (COP), down 9%
  • Marathon Oil (MRO), down 13%
  • Occidental Petroleum (OXY), down 7%
  • Anadarko Petroleum (APC), down 14%
  • Linn Energy (LINE), down 13%
  • Whiting Petroleum (WLL), down 28%
  • Oasis Petroleum (OAS), down 32%
  • Kodiak Oil & Gas (KOG), down 28%

And this list goes on.

But this could just be the beginning of the oil price declines.

The most powerful oil official in Russia believes that the price of oil could fall below $60 next year…

Russia’s most powerful oil official Igor Sechin said in an interview with an Austrian newspaper that oil prices could fall below $60 by mid-way through next year.

Sechin, chief executive of Rosneft, Russia’s largest oil producer, also said U.S. oil production would fall after 2025 and that an oil market council should be created to monitor prices, the same day the OPEC cartel met in Vienna and left its output targets unchanged.

“We expect that a fall in the price to $60 and below is possible, but only during the first half, or rather by the end of the first half (of next year),” Sechin told the Die Presse newspaper.

And one oil industry analyst just told CNBC that he believes that the price of oil could ultimately plunge as low as $35 a barrel…

“When you look at the second half of 2015, that’s when you see oil beginning to dwarf demand by about a million, a million and a half barrels a day,” he said. “Thirty-five dollars is a possibility if they don’t get an agreement next spring because that’s when the oil really starts to build and you can have a billion barrels of oil with really no place to put it.”

This comes at a time when there are already a whole host of signs that the global economy is slowing down.  Three of the ten largest economies on the planet have already slipped into recession, and the economic nightmare over in Europe just continues to get even worse.  In fact, we just learned that the unemployment rate in Italy has shot above 13 percent for the first time ever recorded.

In addition, it is important to remember that the “real economy” in the United States is in far worse shape than it was just prior to the last financial crash.  Just consider these numbers…

-In the United States today, the number of payday lending locations is greater than the number of McDonald’s and the number of Starbucks.

-One recent survey found that about 22 percent of all Americans have had to turn to a church food panty for assistance.

-This year, almost one out of every five households in the United States celebrated Thanksgiving on food stamps.

-The rate of government dependence in America is at an all-time high and approximately 60 percent of U.S. households get more in transfer payments from the government than they pay in taxes.

-According to a report that was just released by the National Center on Family Homelessness, the number of homeless children in the U.S. has soared to a new all-time record high of 2.5 million.

If things are this bad now, what are they going to look like after the next great financial crash?

And without a doubt, the next crash is coming.  Hopefully we have at least a couple more months of relative stability, but many experts are now urgently warning that time is quickly running out.

By this time next year, Black Friday may look a whole lot different than it does today.


  • Guest

    “Most Americans are completely unaware of what is currently happening in the financial world….”

    I’ll say. I’m a manager at Joseph A. Bank Clothiers, and we were very busy this week, especially today. We opened at 8:00 this morning, and people started pouring in as soon as we opened the doors. And when I drove past the shopping mall this morning on the way to work the parking lot was packed. It’s astounding.

    I have known for many years now that hard times were coming to this nation. I started talking to others about it over 10 years ago. When the economy crashed in 2008 I thought that was “it.” I thought that I had been proven right. And when I saw how the Federal Reserve responded to the crisis, with ZIRP and QE, I was certain that we’d have runaway inflation, then hyperinflation and ultimately the death of the dollar. I never imagined that we’d have the relative stability that we have right now. Yes, things look pretty good out there right now, but this cannot continue indefinitely.

    Michael, your hard work in putting the truth out there day after day is much appreciated.

    • MichaelfromTheEconomicCollapse

      Thank you for those very kind words. I try to explain these things in a way that the average person on the street can understand, and I am always seeking to improve my writing. When I hear that people appreciate all of my hard work it makes my heart glad.


      • No country like USA

        You nail it on the head with this article. I do not agree with your opinion on many previous articles but this one is excellent.

      • guest ina house

        I appreciate your hard work Michael and I’m sure all of your visitors do as well. It was heart warming for me to find others who ‘get it’. Please keep on keepin on.

    • Pete

      “It can’t continue,” you all say, but somehow it does.

      • Guest

        Name one fiat currency in the history of the world that didn’t eventually fail.

        • Infidel51

          Spot on. From the Romans until now all paper money has always returned to its intrinsic value. The Romans wasn’t exactly paper per se but they did wash copper coins in silver to make them appear more valuable. Their version of fiat cash……it didn’t end well.

          • Juggernaut3000

            Toward the end of the Roman Empire, the Romans mixed sand and other impurities with the metal used to make coinage -very telling.

            Gold has been used as a form of currency for 2,500 years.

            It infuriates me when I hear so-called economist tell the American people that gold and other precious metals are a very bad investment.

            A good indicator of the strength/weakness of the dollar is the price of gold – high gold prices are not necessarily indicative of the price of gold but rather of a falling American dollar.

            Price of an oz. of gold when Obama took office: $850

            Today an ounce of gold costs more than $1700 an ounce.

            Not a bad investment, I’d say for those who purchased gold. Mine was mostly purchased in the 80s when gold was far lower.

        • Pete

          I can’t name a fiat currency that has not failed.

          That’s not my point. My point is one of timing.

          We can all be dead and buried when the dollar finally collapses.

          This guy predicts 2015 as the year of the collapse.

          Maybe .. but my bet is that next year at this time will be here reading his latest prediction that 2016 or 2017 is THE YEAR.

          Please .. just be careful about going all in on predictions of doom and gloom. The system has far more resiliency than realized.

          And a final note. Physical gold and silver, in spite of their carrying costs, are a good & necessary form of insurance for people to have.

          • Guest

            Oh, I agree, Pete! I am astonished that the financial system is still standing. And I agree with you about gold and silver!

          • Hey You

            Some events develop more slowly. My guess is that 2017 – 2018 will witness the federal system imploding.

          • Hot Rain

            Collapse is slated for 2025. By the time we get there America will be a bad memory..

          • jox

            This is true, but the opposite is also true. Every year since 2010 is ‘the year of recovery’.

    • TtT Engine

      Jos. A. Bank advertises very heavily. 3 and 4 suits/jackets for the price of one. Is JA Banks profitable doing this or is it necessary to move inventory ? Men are wearing less business suits/jackets these days, are they not ? Did Jos A. Banks merge with Men’s Warehouse ? Merry Christmas !

      • Guest

        Joseph A. Bank was acquired by Men’s Warehouse in March of this year.

        I work there because I need to support myself. It’s just a job.

    • Eye opener

      Forget the Xboxes, iPhones and Tickle Me Elmos — Americans were really going crazy for guns this Black Friday, in record-setting numbers.

      The typical Black Friday boom in gun sales doubles the number of background checks handled by the FBI’s National Instant Criminal Background Check System (NICS), from one per second on an average day to two per second.

      By Friday afternoon, that figure had reached three checks per second, CNN reported, putting 2014 on track to blow past the prior Black Friday record of 144,758 FBI-processed gun transactions in a single day.

      • Mike D

        I bought a gun at Cabelas on Black Friday.. Had to wait 2.5 hours to get the back ground check run!! That’s how busy the system was.

    • Eye opener

      Forget the Xboxes, iPhones and Tickle Me Elmos — Americans were really going crazy for guns this Black Friday, in record-setting numbers.

      The typical Black Friday boom in gun sales doubles the number of background checks handled by the FBI’s National Instant Criminal Background Check System (NICS), from one per second on an average day to two per second.

      By Friday afternoon, that figure had reached three checks per second, CNN reported, putting 2014 on track to blow past the prior Black Friday record of 144,758 FBI-processed gun transactions in a single day.

    • O’Chamberlain LordO’PinkLines

      You never imagined it because you never imagined the impact of fracking, QE & ZIRP but all those bullets have been fired.

      There are no more bullets left to fire economically nor militarily without huge blowback for America.

      You’re going to be in serious trouble simply because you’re the most artificially inflated nation on earth so you’re going to fall, harder and faster than anyone else on earth.

  • K

    I have not done black friday since twenty years ago. And yes, I know all too well how many are relying on food pantries. Ferguson should show you who the police will protect. Hint, it is not you.

    • MichaelfromTheEconomicCollapse

      That last point is very true. When things really start falling apart, the police are not going to be watching out for the rest of us.

      • TJJackson1

        You are very true. Having been in emergency services (firepolice) for most of my adult life, I can assure you that when it hits the fan, our priorities will be family first. All else will be next. The brotherhood is intact and will become stronger when the pain starts.

  • Infidel51

    Good article Michael. I would like to see you write an article about the fact that when the next crash happens there won’t be a QE to save us. The fed toolbox is empty this time around. Could you speculate for readers what the government response might look like this time? I feel like we are so far into uncharted waters this time that there is no historical precedent to examine for clues. What do you think?

    • MichaelfromTheEconomicCollapse

      I will have to start rattling that idea around in my head. 🙂


      • Michael, if we didn’t have a lightbulb
        in out head, we would totally be
        zombies, just like the ones we see on
        Black Friday! 🙁

      • 1johnconnor1

        My understanding is WE the bank account holder wil be expected to bail out the banks the next time they crash, Uncle Sam won’t be there. A la Cyprus

    • alan

      Looking into the Fed’s tool box I see a huge functional printer, lots of ink, paper and a tool labelled 401k.

      • Infidel51

        Ya I agree with you. Kiss your retirement account bye bye.

      • kfilly

        Welcome to MyRA. The tool you speak of to empty those 401k’s.

      • Ace

        Patriotic donations greatly appreciated. And encouraged, in a certain way.

  • jakartaman

    I agree that the economy of the world is going to collapse and sooner rather than later – 2nd/3rd quarter of 2015.
    However, that is only one of the catastrophes that is going to converge. The Middle east is about to explode. Israel will have to bomb Iran – no options left – regardless of what this administration does or does not do. We have not seen the end of Ebola – It has mutated – Yes you can get it from a sneeze.
    Russia is flexing its nuclear saber and becoming very provocative. Turkey our Muslim Nato partner is adding and abetting ISIS and talking harshly about Israel.
    I am thinking that its not going to take too much to propel the world into a nightmarish hell

    • MichaelfromTheEconomicCollapse

      The elements of a “perfect storm” are definitely starting to come together.


    • alan

      Stop watching the Fox/CNN network and all those problems will go away.

      • jakartaman

        Your right – Just like most Liberals walking around with their head up their rear orifice

      • 1johnconnor1

        Lol, what an ignorant statement

    • Priszilla

      Russia is pushed into a very tight corner by eu and usm sort of like Japan before pearl harbour. However. Russia us selling oil to China and buying goods from china. This will help Russians to increase their living standards. Don’t forget that Russia and China are secular states, keeping a lid on islamism, while Germany is a traditional ally of Arabs and Muslims, having financed the jihad against the British in the 20s and 30s. The Muslims still admire the Germans for having killed so many Jews.

      • The Russians can’t make a profit on oil at current price levels. So they’re in trouble. Some experts say that Russia needs over $100 a barrel to meet production costs.

        The same applies to many US oil producers.

        • Priszilla

          From Russia to China oil can go in a pipeline, from China to Russia goods can go by train.

          • I obviously didn’t explain the problem clearly.

            At current price levels it costs Russia more – a lot more – to produce oil than they can sell it for.

            That is unsustainable. It’s also a recipe for disaster considering all the other factors involved: US relations, Ukraine, Russia’s economic woes….

    • Afi Keita James

      WWIII is coming.

    • Hey You

      Although our time predictions are different, we do seem to agree that the USA federal system is due to collapse. Also, my guess is that the federal election of 2016 will not include all 50 states.

      • jakartaman

        First I hope you are right on the timing – need more time,
        Second, very interesting comment about not all 50 states not participating in 2016 election.
        Third you maybe interested in reading “the end of america” by john price

    • ST

      I think it’s important to note we will not go straight into a “collapse”. We will be hit by the normal indicators of a slowing economy.

      Jobless, deflation, consumer confidence… all of those things and not necessarily in that order. Then when things are getting bad enough, all the QE money the FedRes pumped into the banks and the stock market will be made available to keep corporations and banks afloat. We’re experience a latency of euphoria before we’re smashed in the face with an excavator bucket.

      We’re peaking right now. Stock market is up big time and approximately 60% over valued according to experts. Oil prices are dropping in a price war to put the US out of business. All the signs you mentioned are working simultaneously and the fuse has been lit.

      I won’t make any predictions with exact dates or years, but we won’t survive as the America we know today through another Presidency. We are on the verge of our own civil war and lets hope we don’t have to fight the world while we’re trying to sort out our own issues.

  • Rick Smith

    I’d like some of that “church food panty”!

  • Sandbagger

    Use the coming crash in fuel prices to stock up on any fuels you may want store for when the SHTF.

    Same as the “sale” gold and silver are/will be going through.

    • alan

      Christmas hype, February dump when the real numbers come out.

  • Renee

    Wednesday on my way home from CVS pharmacy I saw a ton of cars on both sides of the road. I thought to my self what is going on here I never see this many cars. Lo and behold the line coming out of the food pantry was wrapped around the building. I was stunned we live in a somewhat affluent city here in Wisconsin. It made me grateful for what we have and hope next year I won’t be joining them.

    • MichaelfromTheEconomicCollapse

      Thanks for sharing that Renee. That is very sobering to hear.


    • Although I’m not an American, so I can not really judge by seeing it, but it looks to me that what you describe is what we, in Europe, knew a lot just after WW2, or even the US after the 1929 crash…

      That’s pretty convincing to me that something is terribly wrong in the US economy – the real world (the one with real people, dealing with real problems) seems way different than the fantasy world they make us believe about how well the USA are doing…

      Hope for all of you, – even all of us, – that some kind of solution will be found. However, having read so much on the History of nations and Empire of the past the only LOGICAL solution to the present problem is the one everyone, understandably, does not want to go through – A WAR… this time on a global scale.

      And as far as I can see that is exactly where we are heading fast…

      • Hey You

        Your comments on war being the only logical solution makes sense. Declining empires are notorious for implementing such.

  • alan

    I am going to make a guess next years Black Friday will be at Safeway, Public’s, Kroger’s etc. You’ll see $10 off a pound of chicken, three ears of corn for $9.99.

    Where is our “Mockingjay”

  • Margaret Collins

    Greed, greed, greed and more greed. All of this is polar opposite of what Jesus Christ taught — the One we are to honor at Christmas. If we were to do as He would do, we would give the vast majority of our gifts to the down and out. Any takers?

    • Teresa Ann Ramsey

      I have been thinking that the churches really need to get on board and reign in their members. A few sermons on money, maybe take back the holiday from it’s commercialism, they could even teach the sin of greed being a sin. Some of the worst people I had to deal with in the black friday sales were “good christians”

      • guest

        The ‘church’ gratefully gave their charge to help the poor over to the gov’t back in the 60’s.
        Your ‘preachers’ don’t write their own sermons, their ‘leaders’ send them to them.
        Little Bible and no Holy Spirit.
        Don’t tell me what I need to hear, tell me what I want to hear.

        • Teresa Ann Ramsey

          Your right they have shirked on their responsibility and with attendance at an all time low they are afraid to rock the boat and lose more.

    • guest

      Hmmmm, I recall Jesus saying that ‘you will always have the poor amongst you’ and that ‘If a man will not work that man shall not eat’. Let us not forget that the Hebrews were to leave the last bit on the vine, for the poor, (gleaners).
      They could gather it and maintain their dignity. The point being that they still had to work for their food.
      I have a great deal of compassion for those less fortunate, (But for the Grace of God there go I). However, what passes for poverty, need in America is absolutely satanic, with an agenda.
      Your post reads like the deluded social justice warrior, ( sjw), with the standard marxist propaganda.
      Charity begins at home.
      Show me what you’ve done, don’t tell me what I ought to do.

      • kumar

        oh so u were alive 2000 years ago talking to jesus? or you believe what they call bible which was written and modified over the years by men?

  • Do yourself and your family a favor. Stay out of the stores this season and buy silver and gold. What’s in your safe?

    • Guest

      That’s the best advice!

    • neal

      Which safe?
      The PMs are swimming with the fishes and the safe holds other precious metals (lead and brass)

    • Joe Kleinkamp

      I agree. We’re all sick of that question being asked by the actor on his horse, his farm, his plane his bike etc. but the time to buy any investment is when it is out of favor with the masses and at a depressed price.

    • 1johnconnor1

      I totally cringe whenever someone asks me, ‘ are u ready for Christmas?’ Because I know they are referring to shopping for gifts. That’s not what Christmas is about for me.

  • John

    Tuesday going to the post office I saw police lights flashing ahead. As I neared the intersection I realized what was going on, it was the Thanksgiving turkey give away to the needy. The number of cars I saw in the parking lot was huge and the line of people wrapped around the building was very long. As I returned back on my way back home I could see people putting turkeys into their cars and other people pulling wagons with boxes of food. There were so many cars it took police to control the traffic in and out of the give away location.

  • FortuneSeek3rz

    The general public needs lower energy prices. The majority have no position in the stock market but their debt levels are over extended. Falling crude prices are a good thing. Even with today’s crash in energy stocks the overall market didn’t budge.

  • Handog

    Household income down 8.2%

    Holiday spending up 16%

    What could possibly go wrong?

  • TtT Engine

    Is Opec manipulating oil prices down to drive out competition [i.e. North Dakota/Shale/US gas/oil production] and to punish Putin for Ukraine ? Also, people are driving their cars less because overall disposable/discretionary income is so far down. Many people have given up their cars because of the high cost of gasoline, maintenance and rip-off car insurance. “If you give me 15 minutes, you COULD save 15% on car insurance”. These commercials would be better than waterboarding.

    • Lennie Pike

      The World’s bankster cartel of which Russia is the only superpower that is not a member is responsible for starting the trouble in Ukraine as they have in all the other countries who are (were) not members which have been conquered.

      The Malaysian Airliner that disappeared was probably the exact same aircraft that was shot down probably by Ukraine fighter jets. All countries must be on board for the one world fascist government, and Russia and Freedom Loving Armed Americans are pretty much the only real obstacles standing in the way of these Godless fascists.

      The main reason the price of oil is artificially low is to pressure Russia. They do it with the price of gold and silver for similar reasons.

  • Bill

    It is so interesting reading these comments that give the truth about what is happening across the country. Our government propaganda gets deeper by the day. Today’s market data looks like nothing is wrong until oil stocks are considered.

  • Erik Bergum

    All of the mess we are currently experiencing means that it is a stage for a set up of a one-world governmental system. I completely agree the economy is bad. The sad reality is that many people are living in denial that it is really bad. Our secular mainstream media continues to tell us that the economy is getting better, which is not true at all.

  • Rufus T Firefly

    The American boobissiie will take advantage of lower gas prices by buying expensive SUVs and pick up trucks that get 8 mpg. They will use them to drive. To the end of the driveway to pick up their junk mail instead of walking 100 feet. But hey, we are God’s chosen people…He won’t let us down

  • Von

    I saw the cars posted outside the stores during Black Friday on my way to work and I just SMH at the madness. These people have succeeded in alienating us and dividing us socially and politically and we buy nothing made in America and they wonder where these jobs went? They laugh them because of their stupidity. They have programed them quite well.

  • jeffy

    Actually it was the inflationary spike in oil from 2007-2008 that sent the economy into a recession. Whenever the price of energy rises 80-100% in a short period of time it is too big of a shock and collapses the economy into recession which drove demand down which caused the price of oil crashing in 2008.

  • Priszilla

    Declining oil price could reduce costs for businesses and therefore an increase in business activity.
    Just don’t focus so much on the financial market. Speculation does not create any value.
    Agricultural machines need fuel. Removal companies need fuel. Construction machines. So falling fuel price will be good for all of them.
    And even renewable energy benefits from falling fuel prices as construction will be cheaper. Invest when the costs are cheap, profit when the costs for fuel are high.

  • Priszilla

    Falling costs are also an opportunity to save money, change the lifestyle, invest in the home, get rid of debts.

  • Priszilla

    Payday lending makes more profit than drug dealing and is legal.
    4000% per annum! Of course these shops crop up everywhere.


    Back in the late Seventies and Early Eighties, the oil industry in Texas and Louisiana was giving the Saudis a run for the money. I tell you money grew on trees in Houston in those days as 1000 people a week moved in. Now, the House of Saud does not cotton to competition and in a classical capitalist maneuver flooded the market and dropped the price. The Saudis can make money at 5$/barrel. North Dakota can’t. Back then, the price went from $45 to $10 and that was end of the Oil Boom. Houston and Texas in general went into foreclosure. (The Bush Family was right smack dab in the middle of the machinations.) I remember it well. The Sauds are doing it again. Afterwards, they will recover nicely. Their attitude is we shall take the short term pain for long term gain. Besides they own us having some 2 trillions invested in our markets. Now, Common Sense would dictate that we keep prices at $80/barrel so we can become energy independent. Yes, we might pay $4/gallon but the money would be spent here and not sent over there where the Wahabis and Jihadis plot our DOOM! Common Sense doe not exist which explains why we go to war periodically in the Middle East and we hear all kinds of enlightened talk about bringing Jeffersonian Democracy to the Fuzzie-Wuzzies. Good luck with that…

    • According to many news sources, the United States of America has been putting pressure on the Saudis to keep prices down in order to destroy Russia’s economy. Russia’s oil industry cannot survive at current price levels.

      Unfortunately, the plan seems to have backfired.


        Oh, I think it’s all going according to plan. Most of the fracking occurs on private land. This does not comport with the script. Obama would love to put ND out of business!

      • 1johnconnor1

        By design. why would the Kenyans administration give a rats behind for America? please.

  • euroclydon

    I wish I could feel sorry for the oil companies after gouging us at the gas pump and suppressing cold fusion technologies while making billions in profit and people poorer, but I just can’t.

    • Cold fusion is a pipe dream euroclydon. However, your point is still valid.

      If our corrupt politicians were to fund research into alternative energy (including hot fusion) with the same enthusiasm that they apply to giving billions in incentives to the fossil fuel industry we’d be in a better position to fix the mess.

  • john

    I’m looking forward to the collapse of our economy just so next year I don’t have to hear about the animal heard rushing to buy Chineese mad crap at top $$$ prices with money they don’t even have. Maybe by next year they’ll all be dead from starvation.

  • Kelli Couch

    Michael, I read your blog almost daily, as often as you post. I find your articles to be informative and easy to follow. Economics and marketing are definitely not my specialties, and I like the fact that you write in ways that the average person can understand.
    With that being said, I have a question and I am hoping you can explain it better for me.
    I do understand that if oil prices go lower that it hinders growth of smaller companies and ultimately limits further exploration if their profit margins shrink. The average American would benefit from lower fuel prices, at the gas pump, and for heating oil. How would that be a bad thing?

    Again, thanks so much for writing articles that are interesting, informative, and engaging!

    • treeguy100

      IMO. When the mines can’t mine cause the price is to low and the oil industry can’t produce cause the price is to low and the farmer can’t farm cause the price is to low and no one can work cause the price is to low that is not good.

  • Charles Reece

    Let us PRAY for financial “mercy” for the American Church in the midst of God’s economic judgments upon America for sin throughout the land. The Lord is right now “judging” the hedonistic/materialistic greedy Laodicean churches in America; as He is right now also “judging” the entire United States with ECONOMIC COLLAPSE, for all of her incessant LOVE for MONEY – and endless LOVE for luxuries and creature comforts; and amongst many OTHER sins as well!

    Unfortunately, today’s American Church HAS NOT prepared Christians for facing the “possibility” of the “righteous” having to SUFFER going through “hard times” along with the “wicked” – even while God’s judgments are actually primarily DIRECTED towards the “wicked” themselves. This spiritual principal has been going on ever since God judged the world with the Great Flood. God-fearing believers of the Mosaic Old Covenant – and believers of Jesus Christ under the New Covenant – ARE NOT – nor have they EVER been – IMMUNE to some form of the NEGATIVE consequences of God’s judgments. The “righteous” ALWAYS suffer some kind of “collateral damage” of LOSS – along with the “wicked” – even while God Himself directs His judgments primarily against the “unrepentant” portion of Mankind.

    • T.

      Amen. It is as you say in Laodicea Church of the USA. What’s sad is that most evangelical Churches here believe that they are the Philadelphia Church. Bad teaching but it is the predominant doctrine of our day here in confused America.

    • guest

      The great Flood eliminated satan’s seed from Earth, temporarily.
      Jesus said it would be as in the times of Noah. What does that mean ? All of men’s hearts were directed to evil.
      Only Noah was found to be righteous and PURE, (genetically), in his generations.
      The Bible tells us that there is nothing new under the sun, ( what you see now has already been done). Told in Genesis.
      I do not pray for the lukewarm curdely milk ‘church’ that is America. I am disgusted by it.
      The only ‘collateral damage’ that Christians will suffer is that which offers the opportunity to build their Faith and purify them.
      If they have any sense, they will flee from the cult of ‘church’ in it’s present incantation.

  • Darth Maul

    currently happening in the financial world

    I can tell you what is happening:

    Dow Jones, NASDAQ, S&P500 – ALL have record highs.

    So much for crisis mode…


    • guest

      When the balloon is stretched to it’s limit, it will explode.
      The markets are artificially expanded. Reality is a kick to the groin and is coming.
      The trick is in the timing, on both sides.
      Think of it as musical chairs.

    • 1johnconnor1

      Hey darth, u have a clue WHY the stock market is going up? Do u really feel in your gut the economy is doin well? Are there jobs plentiful? Do u feel u can afford the necessities and still have discretionary cash extra ? With all the international and domestic mayhem going on, do u really feel the stock market boom is justified? Believe me, I ain’t holding my breath for your answer. I KNOW we r in it waist deep, I just he u wake up soon as well. God bless

      • retired22

        Hey Johnconnor,
        His real last name is Vader & he comes from a Galaxy that is far,far, away!Viewed from over there the stock market makes perfect sense!

  • retired

    I noticed none of the posts mentioned the obvious.It is my belief that the Arab oil states,with Saudi Arabia leading the way, are keeping their prices low in order to bankrupt their mortal enemy Iran.Iran has 1 main source of income,oil.If they can bankrupt the Iranian regime & destroy it’s Nuclear program they can remove the threat to themselves!

    • guest

      Most don’t understand that the Iranians are Persian, not Arab.
      Most don’t understand that the Saud family was declared royalty by Britain in exchange for the promise to keep the radicals in check, ( Hence the name Saudi Arabia, radicals = Wahhabi ).
      What you say has a measure of value to it.
      Unfortunately it won’t happen.

  • Joe Kleinkamp

    What happens when all of those countries that depend largely if not entirely on oil can no longer pay their bills? OPEC met last week and even though a cut in their production would have boosted prices they won’t cut because they need all the oil revenue they can get to keep their economies running. Some say their decision to keep pumping is to hurt U.S. producers. But OPEC talks about cutting always result in each country saying “you first” to the others and it never happens. Russia, Venezuela, the Saudis, Iran may become very aggressive as their lifeblood loses value.

  • America has become a zombie nation full of loser
    who care more about entertainment, sports then anything in there lives. Its slavery and its not
    good for our society.

  • Orange Jean

    I was a bit surprised when I read the article… since from the title I was expecting it to be a lament of the materialism now associated with “Christmas” by so many in this country. So on that topic I say… I think “Black Friday” is insane!

    Personally, I hate shopping… and I hate crowds!! I always plan it so I stop going to malls and department stores from about the week before Thanksgiving to around mid-January. Don’t do much online shopping either.

    I never quite understood why those who say they are Christians get all tied up in the Black Friday and similar shopping frenzy. Why not spend more time focusing on what that means, plus time with family if at all possible, and less on shopping?

    I’m not saying I’m not concerned about what’s happening to our economy, as I am.

  • rick

    Have no fear, Batokeback Obola is here………….

  • grumpyhillbilly

    Despite the hardships of a financial collapse, the end of black Friday might actually be a good thing.

  • Michael Dubin

    If demand for oil is falling, why is OPEC producing more oil? Are they trying to destroy the shale industry in the US? Or are they working with the US to destroy the Russian oil economy?

  • Joe

    Gold & silver are absolutely essential in times like these. The system is failing slowly but surely. I believe the irrational price swings come from misinformed investors who think sunny days are just around the corner. Not the case. Buy & hold.

  • BudDye

    This is by design to hurt America’s shale energy efforts, they know what they are doing.

  • TLC

    Yes. The dollar as all paper currencies will have its run and die.
    For now this thing keeps going because the elites want to keep it going. Their biggest fear is the lower classes uniting- so keeping them dumb and distracted about what is really happening is necessary. The elites want to keep what they have so will do anything to keep this game going.

  • Priszilla

    One German approach is to insulate buildings, in order to save on heating costs and reduce demand for gas.
    They also install alternative heating systems, such as solar collectors, heat pumps, heat recovery from air exchange, pushing down energy demand for heating and hot water to 30kWh per squaremeter and year. Thats about 500l of oil per year for a 100sqm house.

  • Truegrit

    Why wouldn’t a collapse and re-set of the oil based economy on sounder footing with a means of production and a tighter monetary policy be a good thing?
    I thought we liked competition (Global or otherwise)
    If the Saudis want to drive the price of oil down… To Bad!
    Or should we return to mercantilism. It did work for hundreds of years.

  • kumar

    the problem with doomsday predictors is they are right 1 out of 10 times and wrong 9 out of 10.

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