RE:irrational exuberance....
saudi looking to keep taps open ..which will keep pressure on iran and russia..am thinking they really are focused on hurting iran...russia getting help from china...with currency swaps..re bloomberg:china has 3.7 $trillion reserves..russsia 375$billion.....good energy source for china....perhaps iran could do similar deal with china using chinese currency..this would add to size of chinese influence...china just helped argentina..with a currency swap.....demand side is open question..will china economy grow...low 7% or high 6% on a larger base..they are using low oil price to stockpile oil ... ..will india grow with new govt direction..india is big ship ..takes time to put new plan into action with all its inertia and corruption.... europe is dead in the water...euro central bank doesn t seem ready to move big time on a form of QE....germany doesn t want to bail out weaker eu members...ECB.prefers to talk about what it might do if pushed....it s only a short time since opec meeting..more time needed to see how much this will hurt iran and russia and how they respond.....to me venezuela .. nigeria ..US frackers are collateral damage..not primary reasons for the saudi policy.....nigeria production could be hit by boko..libyia unstable..lots of factors at play...good hunting to all.