(I would submit this as evidence that the AI capex ROI trumps the Return Of Oil as the top-of-mind headache for the stock market)
Step 5: ???
Step 6: Profit
The oil down / futures up reaction seems predicated on assuming a world in which we just tack a buck or two onto every bbl going forward as the new toll, w/ everything else going back to normal.
And it’s weird that the futures and cash markets keep competing to be more naive and gullible.
Upon reflection, the gnomes actually had an infinitely superior strategic plan, as they were a) no worse off, and b) actually had control of a physical product.
Just getting caught up on everything after having been otherwise occupied all day, and today had to have been one of the most fadeable opens in a very long time.
4 BBG headlines as Office Space characters:
Trump Says Deal Will ‘Probably’ Be Reached (Lumbergh)
Trump: In Serious Talks With New Regime (Bobs)
Trump Threatens to Obliterate All Electricity Plants in Iran (Michael/Samir)
Trump: If Hormuz Not Open After Deal, Will Blow up Kharg Island (Milton)
Alternatively, this is also a possibility for the state of the global economic system w/r/t crazy choke points and supply chain fragilities.
I never thought we would RETVRN to nights-and-weekends pricing from early cell phone plans.
A/B testing of Vatican messaging yielding interesting findings?
I’ve started to think he’s under the impression that we do not read the FT in the US. Like he’s speaking to foreign press and it will be months before the printed papers finally arrive here via steamship, at which time nobody will care.
