Hello traders everywhere! Adam Hewison here, co-founder of MarketClub with your mid-day market update for Tuesday, the 9th of October.
Have you ever try stuffing a gold bar in your fuel tank?
I am sure you haven't, and that is the point I want to make today. America runs on number two diesel fuel, not on gold bars. Without fuel, America's economy is dead in the water.
Every year the world needs more and more energy. China and India provide good examples as the working class are moving from bicycles to mopeds and in some cases, even cars. All this upward mobility takes energy, and the energy for now is petroleum based.
India and China have a combined population of 2.9 billion, representing 36% of the world's population. To put that in perspective, that is 9.2 times the size of the United States.
And here's the wild card, and it's a big one: "The Middle East". What is going to happen in the most unstable part of the world? Any major disruption in that area will cause oil prices to skyrocket. Continue reading "Daily Video Update: America doesn't run on gold, it runs on …"