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July 16th, 2017 at 1:33 pm
Anyone long oil over the long haul, might want to read this… A massive contraction in ED (eurodollars, petro dollars), budgets, spending, GDP and potential SWF investment followed by three years of painful adjustment.
Following the balance of payments (monetary flows) demonstrates that most exporters break-even budgets have managed to adjust, but there are still some major short falls. The 2013 chart we had seen and almost used here. One must observe the difference between the 2013 and 2016 charts carefully, then read between the lines and Out.