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/biz/ - Business & Finance

File: 2.49 MB, 1895x1053, Oil Contracts April 2020.png [View same] [iqdb] [saucenao] [google]

Anonymous Mon Apr 20 14:35:15 2020 No.18576446 [Reply] [Original]

The economy is about to crash

Unironically prepare to leave the city soon

>>	Anonymous Mon Apr 20 14:37:02 2020 No.18576526 File: 30 KB, 300x301, nervapu.png [View same] [iqdb] [saucenao] [google] Apaches just flew over my house

>>	Anonymous Mon Apr 20 14:38:58 2020 No.18576616 >>18576446 Cheap gas woooo

>>	Anonymous Mon Apr 20 14:39:13 2020 No.18576633 >>18576446 >Unironically prepare to leave the city soon why?

>>	Anonymous Mon Apr 20 14:40:25 2020 No.18576679 >>18576446 Based as fuck. Accelerate China's rise.

>>	Anonymous Mon Apr 20 14:41:55 2020 No.18576748 An oil barrel just flew over my house.

>>	Anonymous Mon Apr 20 14:42:47 2020 No.18576785 >>18576748 Kek’d

>>	Anonymous Mon Apr 20 14:42:51 2020 No.18576792 >>18576446 lol how do you calculate percentages on shit that goes positive to negative values

>>	Anonymous Mon Apr 20 14:43:49 2020 No.18576838 Oil companies are going to burn their oil because no one will take it and they won't have room to store it. This is going to turn into an environmental disaster.

>>	Anonymous Mon Apr 20 14:44:04 2020 No.18576853 >>18576633 Rabid packs of niggers

>>	Anonymous Mon Apr 20 14:44:39 2020 No.18576887 >>18576446 Why are so many people exiting futures contracts before they settle, to lose the least amount of money possible?

>>	Anonymous Mon Apr 20 14:44:48 2020 No.18576895 >>18576446 Factorio players understand what is happening to the economy now

>>	Anonymous Mon Apr 20 14:45:55 2020 No.18576970 The only way for America not to go bankrupt over this is by starting a war with Russia. But of course dumb Trump won't do anything against his best buddy Putin.

>>	Anonymous Mon Apr 20 14:47:39 2020 No.18577064 >>18576792 Not sure if trolling or serious. What is an absolute or abs() aka \| \| So if from +20 to -10 its a drop of 30, so -30/+20 means -1.5 or 150% drop I am drunk so excuse if I fucked that up somewhere along the line but you get the point

>>	Anonymous Mon Apr 20 14:50:06 2020 No.18577224 >>18576895 Kek

Anonymous Mon Apr 20 14:50:42 2020 No.18577258

Lol I'm so glad I didn't buy futures yesterday like I was going to. Was literally 1 button press away. Instead I bought etf's, which I'm probably still fucked on, but I should be able to sell before I'm totally fucked.

I wish I had a warehouse where I could store barrels of oil at... I even have a dangerous goods transport certificate, so I could legally drive trucks with thousands of litres of oil on them

>>	Anonymous Mon Apr 20 14:50:50 2020 No.18577266 >>18577064 so if it went from +1 to -10, which is a smaller drop, it would be -11/1 = 1,100%, a higher percentage? A smaller absolute drop but a higher percentage drop?

>>	Anonymous Mon Apr 20 14:52:16 2020 No.18577353 >>18576970 Trump won't fight China.

>>	Anonymous Mon Apr 20 14:53:19 2020 No.18577415 I live in Alberta. It's fucked. We're going down.

>>	Anonymous Mon Apr 20 14:53:41 2020 No.18577440 File: 146 KB, 750x735, 2C672ABF-C4C6-48AB-881B-2F185DEFC727.jpg [View same] [iqdb] [saucenao] [google] >>18576970 Hmm.. nope can’t think of any big glaring issues with this!!

>>	Anonymous Mon Apr 20 14:54:07 2020 No.18577471 >>18576526 pics or never happen

>>	Anonymous Mon Apr 20 14:54:37 2020 No.18577500 >>18576887 >Why are so many people exiting futures contracts before they settle Because if they keep the contract until expiration they'll have to take delivery on how many barrels of oil they were long.

>>	Anonymous Mon Apr 20 14:56:35 2020 No.18577605 maybe COVID19 is getting revenge on the oil industry for destroying the planet

>>	Anonymous Mon Apr 20 14:59:41 2020 No.18577766 >>18577500 Why were regular people allowed to buy industrial grade material contracts?!?! The past 60 years has been a fucking free for all

>>	Anonymous Mon Apr 20 15:00:09 2020 No.18577797 >>18576838 Kys, that oil would have been burned regardless. Reddit is that way ---->

>>	Anonymous Mon Apr 20 15:00:29 2020 No.18577816 >>18577266 Well going down 11 from 1 is a higher percentage yes, Its like going down 220 to -200 from 20 in our case before

>>	Anonymous Mon Apr 20 15:01:21 2020 No.18577857 >>18577415 Albertans deserve it

>>	Anonymous Mon Apr 20 15:01:42 2020 No.18577870 >>18576446 No, you're wrong. Ride out the initial panic for a week or two and then flee the city, OP.

Anonymous Mon Apr 20 15:01:44 2020 No.18577875

>>18577605
Naw this is just what happens when you have the (traditionally) highest demand commodity on the planet operated by what boils down to cartels/mafias. All this is going to do is make the rich richer. The economy won't be shut down forever, and demand for oil won't be 2/3 what it normally is forever. If you don't think oil warlords aren't paying themselves to buy up their own stock at "heh negative price per barrel goy" prices and then storing it in their own private warehouses to 20x their investments in a couple months, you're delusional.

They will just push off the pain to everyone else, (probably act like they're hurting and fire all their employees to get that sweet sweet bailout money, which they will immediately use to give themselves 8 figure bonuses) but oil companies and the oil industry will be just fine

>>	Anonymous Mon Apr 20 15:02:03 2020 No.18577897 >>18577766 I guess for 60 years it wasn't a problem, but now it is.

>>	Anonymous Mon Apr 20 15:02:11 2020 No.18577908 >>18577258 Where do you live

Anonymous Mon Apr 20 15:03:03 2020 No.18577963

>>18577766
It's not regular people that are causing this, as far as I understand it.
From what I understand there is too much oil around in the USat the moment, hence storage capacities of the big players who usually buy up oil and store it are full. This leads to everyone wanting to get out before expiration, since they wouldn't be able to store the oil they would be obliged to.
And so everyone started selling, domino effect.

>>	Anonymous Mon Apr 20 15:03:26 2020 No.18577979 Is this actually a nothing burger? There's technically a good reason oil went negative.

>>	Anonymous Mon Apr 20 15:03:33 2020 No.18577989 File: 458 KB, 680x650, 1571061293452.png [View same] [iqdb] [saucenao] [google] >>18577857 Fuck you faggot. We are the life blood of Canada.

>>	Anonymous Mon Apr 20 15:04:04 2020 No.18578018 why don't they just TAKE all the oil and PUSH it somewhere else?

>>	Anonymous Mon Apr 20 15:04:04 2020 No.18578019 >>18577797 >burning oil is the same as burning gasoline, benzene, or kerosene

>>	Anonymous Mon Apr 20 15:05:37 2020 No.18578112 >>18577797 nigga its fucking crude oil

>>	Anonymous Mon Apr 20 15:06:29 2020 No.18578153 File: 44 KB, 640x786, 1574901009916.jpg [View same] [iqdb] [saucenao] [google] >>18578018 The ocean perhaps

>>	Anonymous Mon Apr 20 15:06:30 2020 No.18578156 Alberta budget requires $50/barrel oil. Alberta government will be bankrupt in less than 6 months. Short Alberta and all companies located in Alberta. Provincial government will cease to exist.

>>	Anonymous Mon Apr 20 15:06:52 2020 No.18578173 File: 86 KB, 878x650, image.jpg [View same] [iqdb] [saucenao] [google] >>18577989 Nah

>>	Anonymous Mon Apr 20 15:09:05 2020 No.18578315 File: 61 KB, 512x369, unnamed.jpg [View same] [iqdb] [saucenao] [google] >>18578156 Alberta government is a meme anyways

>>	Anonymous Mon Apr 20 15:09:43 2020 No.18578365 File: 2.95 MB, 960x1080, 1583351565935.webm [View same] [iqdb] [saucenao] [google] >>18578173

>>	Anonymous Mon Apr 20 15:11:12 2020 No.18578463 >>18576446 A nuclear bomb just stopped by to have a cup of tea and biscuits.

>>	Anonymous Mon Apr 20 15:13:09 2020 No.18578593 just launch the oil into space

>>	Anonymous Mon Apr 20 15:14:21 2020 No.18578658 >>18577415 Well well well, look whos the welfare province now >t.Ontario chad ready to buy your women for 5 dollars and a mcdonalds large coffee

>>	Anonymous Mon Apr 20 15:15:08 2020 No.18578709 >>18576446 lol, I can't be fired or replaced and I'm essential. Good luck dying for me, fags.

>>	Anonymous Mon Apr 20 15:15:23 2020 No.18578724 >>18578365 based heemposter

>>	Anonymous Mon Apr 20 15:17:31 2020 No.18578852 File: 732 KB, 1066x1318, 1587410155365.png [View same] [iqdb] [saucenao] [google] >>18576446 Is Chinese hegemony here?

>>	Anonymous Mon Apr 20 15:19:02 2020 No.18578937 >>18576446 From commodity capitalism to intellectual capitalism: https://m.youtube.com/watch?v=7nFbKzt-uwE

>>	Anonymous Mon Apr 20 15:22:02 2020 No.18579114 >>18576970 how the fuck will this bankrupt america? im pretty sure oil is not as a substantial part of gdp and this changes nothing with the petro dollar or the dollar being the reserve currency

>>	Anonymous Mon Apr 20 15:22:24 2020 No.18579135 >>18578937 ideas are not property and cannot ever be because it's impossible to tell the origin of an idea. just because your the first to patent it doesn't mean the idea is yours. it's literally legalized theft.

>>	Anonymous Mon Apr 20 15:23:28 2020 No.18579197 >>18577415 don't worry bro, we'll "buy" your oil, then use it for mining in ontario you know, a province with a real economy

>>	Anonymous Mon Apr 20 15:23:31 2020 No.18579205 >>18576446 YES YES YES!!!!! I want to see it all burn, until all those damn boomers are forced to sell their houses for a few thousand $.

>>	Anonymous Mon Apr 20 15:25:06 2020 No.18579294 >>18578156 the gibs will run dry

>>	Anonymous Mon Apr 20 15:27:51 2020 No.18579462 >>18577857 >>18578658 >>18579197 >bragging when you have Toronto in your province Roaming hordes of shitskins and Muslims are going to flood into the Ontario country side and slaughter your farmers.... And you're happy about this?

>>	Anonymous Mon Apr 20 15:31:48 2020 No.18579689 >>18579462 >thinking rural ontariuh good ol boys arent all packing heat When this kicks off lines will be drawn

>>	Anonymous Mon Apr 20 15:33:25 2020 No.18579767 >>18579205 boomers deserve to lose everything. they are the most backwards generation in American history. all their gains and wealth is compliments of their parents and they have the nerve to tell others to wage slave for $10 an hour.

>>	Anonymous Mon Apr 20 15:49:11 2020 No.18580549 >>18579767 I make $16.10 an hour. Am I a good goy?

>>	Anonymous Mon Apr 20 16:14:49 2020 No.18581723 >>18577989 >We are the Texas of Canada. fixed

>>	Anonymous Mon Apr 20 16:17:17 2020 No.18581843 >>18578852 At least until China inevitably collapses upon itself like every other century

>>	Anonymous Mon Apr 20 16:17:29 2020 No.18581850 >>18576748 lul

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