Posted on 04/21/2020 7:27:37 AM PDT by JV3MRC
Leave it to CNN Chief White House Correspondent Jim Acosta to look for any opportunity, even a coronavirus-induced oil crash, to get in an amateurish zinger at the president. When the price of oil crashed below $0 to mark the lowest level for a contract on record, Acosta took to Twitter to find an older April 2 Trump tweet to prepare his one-liner.
Trump tweeted: “Just spoke to my friend MBS (Crown Prince) of Saudi Arabia, who spoke with President Putin of Russia, & I expect & hope that they will be cutting back approximately 10 Million Barrels, and maybe substantially more which, if it happens, will be GREAT for the oil & gas industry!” Acosta retweeted the old tweet with the response: “Trump said he was working on stabilizing oil market back on Apr. 2.”
(Excerpt) Read more at newsbusters.org ...
Jim Acotsa could really use some Julius Streicher therapy.
The article does correctly point out that speculators (traders) holding contracts for delivery in May lost their shirts. THAT and the names thereof is what the media is NOT reporting. These guys need to face public hanging for the disinformation they have put out.
I don't see a lot of "I guarantee this will happen" in that statement by The President. Acosta is a dummy
“Bleat”. Perfect description for Acosta’s words, always.
CORRECT. This is traders “playing” the market. It has nothing to do with the actual market.
The folks losing their shirts should have known the risk.
We need to find some of Acosta’s fellow students in high school to find out what a huge, annoying prick he was.
Thank you for the reminder.
I don’t think we need only to go back a few hours in order to learn that?
“CORRECT. This is traders “playing” the market. It has nothing to do with the actual market.
The folks losing their shirts should have known the risk.”
Hey, if you choose to use the market like an extension of Las Vegas, you deserve to lose your arse.
There are those of us who “invest” in the market, try to choose wisely, and stay in for the long-run, sometimes taking our lumps. We don't have the time, experience, or desire to “play” the market. We make money when the market goes up.
Those who “play” the market can make money anytime the market moves - either down or up. If you do this, and are ‘playing’ with your own money, you need to have a gambler's resolve and need to pay a lot of attention. It's not for the faint of heart.
Good idea. I wish Trump would never call on him.
Better yet, send the little bastard to Cubar.
Feral people do things like that.
The problem is not with the Saudi’s. The problem is totally inside the US. They do have a problem outside the US as well. But that has nothing to do with the MAY price of WTI. Our refineries are not making gas. You are not buying gas. So our gas stations are not selling any. The trucks are not bringing gas to the stations. The refineries are stopped. The pipelines are full. The storage areas are full. There is nowhere to put the oil once its pumped. And they can’t stop pumping a well that is productive. We have to much oil here in America. Our just in time manufacturing can’t handle this abrupt stop. Its like a cartoon train when the engine suddenly stops and all the cars behind it crash into each other. Our system can’t handle an abrupt stoppage.
Acosta is a financial wizard and knows everything there is to know about the oil market. I am thankful that we have a media that knows so much through actual experience, after all they gave up lucrative careers as commodities traders to be journalists. Such sacrifice needs to be commended. I am so glad that they share their knowledge and expertise with us deplorables so that we can one day benefit from their wisdom. I only wish Trump would recognize these things, and, um, what’s the phrase I am searching for, ah yes! Rip them a new one.
So CNN has become a comic book.
I bet he attended Public Propaganda School.
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