Is the economy fake? What do the numbers even mean? How does it translate into reality...

how is what he said wrong?

Yeah, let's just ascribe random opinions to people that they didn't communicate and them attack them for those opinions. Cool. Yeah, let's play that game. I'll go next:
>"What do you MEAN you like to fuck children! You sick fucker!"
Yeah. Cool. That's a fun game to play, I guess

It means nobody wants to buy oil in the immediate short term but they will later.

Because it applies to anything, so its fundamentally irrelevant. Anything anything anything anything is a liability if you're over invested in it. And that goes double if you're over invested in it at the wrong time.

So it's just Republican mental gymnasticking to try to downplay the seriousness of the situation. Same shit they always do

Master degree in Economics.

Negative prices generally do not exist in most markets. Oil is different.

Oil has all sorts of crazy competition structures, oligopolistic, with a lot of "games" being played among producers. Also, the production chain of oil is complex and once you decide to produce it, it takes a while to interrupt the production. Also, storing it is expensive, since it is flammable, liquid, etc..

So, put all this togheter:

(1) No demand due to coronavirus
(2) Fracking production from US skyrocketed
(3) Price war between Russia and Saudi Arabia

And suddenly you got what you see today, a bunch of producers competing instead of cooperating in cartels, and NOWHERE to stock it. And you can't just throw it anywhere.
So they are literally paying who can store it.

>Because it applies to anything, so its fundamentally irrelevant. Anything anything anything anything is a liability if you're over invested in it. And that goes double if you're over invested in it at the wrong time.
It's similar to how IDK water is something vital that your body needs, but if you drink too much of it then it becomes a poison and you die from it. What he said is basically just the economic version of that. It's fundamentally meaningless

Yes it’s literally fake and central banking institutions can literally do whatever they want. They just do what’s best to control the populace

Man, understanding crude oil effects in your life is fucking easy.
Crude oil price changes up, you pay more for gas. Crude oil changes down, you still pay more for gas. When you pay more for gas, prices go up, cause some fucking idiot thought getting rid of horses was good.

> Ancap
> Implies he does know economics

LOL

It's about futures. They can't sell, they can't store so who the fuck will pay now for future asset?

It's transitory, Rothschild Family will administer all of this tomorrow form london 9:30 greenwich time

trust the plan, I suppose

LOL
People should have migrated to something else decades ago. It certainly can't be replaced by a single alternative but all known and viable alternatives together can replace it easily.

Lmfao at a Brazilian masters degree

It's simple, only may contracts are negative and you'll have to date delivery in 10 days. No one wants to take physical delivery of the oil this soon as most storage is filled due to weak demand and high supply.

So future contract traders are willing to pay to get out of the position, that's it. They want to sell because they can't take the physical oil in may, and pretty much willing to pay anything to go out. Paying someone 18 bucks to take the oil is better than getting barrels and having no where to store it, you'll pay more up the ass to store it than to simply pay a guy to take it off your hands. June, July, etc. Oil is fine

>mfw when I have more money than the UAE

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>Man, understanding crude oil effects in your life is fucking easy.
Gas prices around here are under $2. That's the first time I've ever seen them so low in my life. Now if only the housing prices would go down...

Time to build some oil containers

Why don't they just flush it down the toilet

>Is the economy fake?
Yes

do you have any degree?

anyone from a communist to a fascist to an anarchist to a liberal to a conservative would have given you the exact same answer

So when oil price is negative that means when I put gas in my car the gas station is gonna be paying me?

It means if you want some literal oil barrels right now they will pay you to take them off their hands.

Master's degree in Econometrics. So like an Economist, but understanding basic math.

If someone with no nobel prize in Economics tells you they understand the Economy, it's lying, go check Econ nobels and count those with Economics degrees below PhD. Right, it makes sense now. Also most nobel prizes dont understand the Economy, cause they are doing actual work in Economics, the discipline, not the study of the Economy.

The economy is too complex of a system for most human beings to grasp, specially ones with econ degrees.

>Hurr durr I'm too stupid to understand your answer so I'm going to insult your intelligence and link it to a political group I don't like
Okay, faggot

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No bing bing wahoo means one term president

Those numbers mean... you will be eating from catfood tins and living in a tent in about 3 months.

It's going top be shitty, but something good will hopefully come of it in the long run. We obviosly need big changes in society and you need a crisis to make things happen.

Oil value dropping will hurt the disgusting subhuman jews that control the oil industry as well as the rest of the world so I'm surprised you commies aren't dropping to your knees and crying in sorrow because of how much you defend kikes.