Courtesy of Joshua Brown, The Reformed Broker
Since falling oil prices are great and terrible for the global economic recovery and consumers, it follows that rising oil prices (they’re up 60% in a few months) will be equally great and terrible for the global economic recovery and consumers.
That’s just basic math, player.
The consumer did not benefit at all from the drop in oil, but might be greatly hurt by the rebound. Or vice versa – the consumer did benefit, but the rally higher won’t hurt at all.
Similarly, the plunge in oil prices was not meaningful for the global economy, but the rise is signaling economic health!
We can have it both ways because it’s 2016 and nothing matters. You can literally say whatever you want.
