You can see the trendlines.
White (hot) trendline is formed by the irrational exuberance of the dot-com bubble. Oil prices ran hard, then the global economy collapsed.
Then we see that trendline touched again in 2008, during another period of irrational exuberance.
So where are we today?
Irrational exuberance - GameStop, bitcoin, GameStop, global housing prices, GameStop, S&P rally, GAMESTOP.. I think there is irrational exuberance.
Inflation - M2 has gone up 40% in the last 19 months. We have a generational inflation event inbound right now.
Oil supply crunch - Demand is running hard, even with every tap wide open, it's reasonable to expect demand to outrun supply by summer 2022.
So.. oil is going to $325!
Call me crazy. Tell me why it won't happen. What did I miss?
White (hot) trendline is formed by the irrational exuberance of the dot-com bubble. Oil prices ran hard, then the global economy collapsed.
Then we see that trendline touched again in 2008, during another period of irrational exuberance.
So where are we today?
Irrational exuberance - GameStop, bitcoin, GameStop, global housing prices, GameStop, S&P rally, GAMESTOP.. I think there is irrational exuberance.
Inflation - M2 has gone up 40% in the last 19 months. We have a generational inflation event inbound right now.
Oil supply crunch - Demand is running hard, even with every tap wide open, it's reasonable to expect demand to outrun supply by summer 2022.
So.. oil is going to $325!
Call me crazy. Tell me why it won't happen. What did I miss?