Let’s see... Demand drops 47% and price drops 50%.
Hmmmm.... makes no sense to me. Cannot get my head around it.
G-D puzzle.
“Let’s see... Demand drops 47% and price drops 50%.”
Did you even watch the report? The oil supply expert on 60 minutes said demand had dropped 5% and the price had dropped 75%.
Not that facts matter to anyone determined to worship at the altar of Wall Street investment banks, as many here are ...
Anyone doubting that investment banks had the capital to influence markets like this is very naive. The combined wealth of the big investment banks and hedge funds is staggering, and then you add in the fact that they were allowed to be leveraged by ratios up to 30:1. So you multiply the aggregate wealth of all these huge institutional investors, pension funds and billionaires by thirty and you get an idea the amount of capital at work here.
Demand has not dropped 47% by any stretch of the imagination.