Time to get ready to short the market... final blowoff better happen quick - as it will only last until likely the energy woes hit american soil - the SnP and Dow both slid about 45% over the following year after the embargo started.
On the chart, I highlight October 19, 1973, when the 12 OPEC members agreed to the embargo. Over the next six months, oil prices quadrupled. Prices remained at higher levels even after the embargo ended in March 1974.
Chris Martenson of peak prosperity has been warning about this energy shortage for months. Here is an update- things make more sense now whats going on.
youtu.be/03bCDEwLCTk
Very interesting look back into the past from old news story:
youtu.be/ClaNhx71XB8
On the chart, I highlight October 19, 1973, when the 12 OPEC members agreed to the embargo. Over the next six months, oil prices quadrupled. Prices remained at higher levels even after the embargo ended in March 1974.
Chris Martenson of peak prosperity has been warning about this energy shortage for months. Here is an update- things make more sense now whats going on.
youtu.be/03bCDEwLCTk
Very interesting look back into the past from old news story:
youtu.be/ClaNhx71XB8