Economy

Macro-economic data is useless to entrepreneurs, but it feeds government intervention in the economy.

I'm skeptical that OPEC has collapsed. I'm skeptical the Fed is done. Entrepreneurs have successfully driven down the price of oil and natural gas.

"Francisco Blanch, the bank’s commodity chief, said Opec is “effectively dissolved” after it failed to stabilize prices at its last meeting. “The consequences are profound and long-lasting,“ he said.

The free market will now set the global cost of oil, leading to a new era of wild price swings and disorderly trading that benefits only the Mid-East petro-states with deepest pockets such as Saudi Arabia. If so, the weaker peripheral members such as Venizuela and Nigeria are being thrown to the wolves."

Like the free market creates wild price swings. This story is ludicrous.

"The bank said in its year-end report that at least 15pc of US shale producers are losing money at current prices, and more than half will be under water if US crude falls below $55. The high-cost producers in the Permian basin will be the first to “feel the pain” and may soon have to cut back on production. "

They'll at least cut costs. My confidence is with the entrepreneurs. They'll innovate and find a way to keep making profit.