Hyperinflation: Iran's way out – possibly – Telegraph Blogs. Iran's national currency, the Rial A fifty eighth country will soon have to be added to the brilliant Hanke-Krus hyperinflation table, which documents every known case of hyperinflation to have taken place in the last century.
That country is Iran, which according to Steve Hanke, professor of applied economics at The Johns Hopkins University in Baltimore, is now experiencing price inflation of close to 70pc a month. For those interested in taking a look at all the others cases of hyperinflation, click on the table beneath. Enjoy. click to enlarge. Commodity market’s algorithmic challenge. Photo Credit:Reuters/Mosab Omar Dubai's gross domestic product is expected to reach USD 107.1 billion, posting a growth rate of 6.1% in 2014 and exceeding Dubai government's estimates of 5%, according to Citibank.
Latest available data from Dubai Statistics Department pegged the emirate's economy at nearly USD 45 billion in the first half of 2013. Dubai's economy has been on a tear over the past 12 month with a slew of data pointing to a new surge in construction activity and a rapid increase in overseas demand for the emirate's travel, logistics and tourism industries. Corporate earnings in Dubai also rose 36.8% last year, highlighting the fast pace of growth across the economy.
The policies of successive governments have worsened this situation.
The “dash for gas” in the Nineties accelerated depletion of our gas reserves. Labour’s dithering over nuclear power put replacement of our ageing reactors at least a decade behind schedule, and a premature abandonment of coal has taken place alongside an inconsistent, scattergun approach to renewables. By Joel Guglietta While global financial markets are still levitating somewhere between the stratosphere and the Kingdom of Asgard, by 60°24′31″ North and 172°43′12″ West, in the middle of nowhere, an isolated island of 137.857 sq-mi holds the key of three major economic developments and risks: November 2013, Lawrence Summers raised the question whether the “secular stagnation” and the impossibility for the US and other major economies to grow without the help of recurring bubbles was not doomed to become the “new normal”.March 2014, the Conference Board released a study (figure 1) showing the falling trend in global total factor productivity, i.e. in the share of output not explained by the “accumulation of factors” (more on this economic jargon below).March 2014 again, the NASA published a research paper answering to “widespread concerns that current trends in resource-used are unsustainable, but possibilities of overshoot/collapse remain controversial”.
Source: NASA, 2014. Commodity market’s algorithmic challenge. © Reuters Current gas prices are shown at a Shell gas station in Encinitas, California2/2 By Dmitry Zhdannikov and David Sheppard LONDON (Reuters) - Demand for oil in 2015 will grow far slower than previously forecast as global economies remain weak, the International Energy Agency said on Tuesday, and prices may extend their sharp fall so long as OPEC shows no sign of countering a supply surge.
The IEA said it cut its 2015 estimate for oil demand growth by 300,000 barrels per day (bpd) from its previous forecast and now expects demand growth of 1.1 million bpd to 93.5 million. It cut its 2014 estimate by 200,000 bpd to 0.7 million bpd. US Gasoline Sales Show No Sign Of Economic Recovery. The Department of Energy's Energy Information Administration (EIA) data on volume sales is over two months old when it released.
The latest numbers, through mid-October, are now available. However, despite the lag, this report offers an interesting perspective on fascinating aspects of the US economy. Gasoline prices and increases in fuel efficiency are important factors, but there are also some significant demographic and cultural dynamics in this data series. Because the sales data are highly volatile with some obvious seasonality, I've added a 12-month moving average (MA) to give a clearer indication of the long-term trends.
The latest 12-month MA is 8.7% below the all-time high set in August 2005, fractionally off (by 0.25%) the interim low set two months earlier in August 2014. (Click here for the latest commodity prices.)
The CRB Index, heavily weighted with age, has also declined measurably from its recent peak. Likewise, despite geopolitical hot spots around the world, energy prices have also dropped from recent highs. While oil remains stubbornly above $100 a barrel, both at home and abroad. Were it not for recent events in Ukraine and the Middle East, oil prices may have continued their recent dip below that century mark. Natural gas prices have slumped to below $4 per thousand BTUs, the lowest level in months, if not years.
Power bills are likely to fall this summer — a boon to disposable income. Even more telling is the level of interest rate and the slope of the yield curve. Effect of Declining Oil Prices on Oil Exporting Countries By Roy Mathew Introduction The price of oil is of critical importance to today's world economy, given that oil is the largest internationally traded good, both in volume and value terms, creating what some analysts have called a hydrocarbon economy.
In addition, the prices of energy-intensive goods and services are linked to energy prices, of which oil makes up the single most important share. Finally, the price of oil is linked to some extent to the price of other fuels. The Failure Of QE2: A Look At Gold, Oil, Equities, Treasuries, Emerging Mar. PDF: What is driving oil futures prices ? OPEC leader sees oil prices shooting back to $200 a barrel - Feb. 3, 2015. Not only that, but he sees a real possibility that oil prices could explode higher to upwards of $200 per barrel in the future.
He's far from the only one that sees a return of triple-digit oil prices. Finding a bottom: According to recent comments by the Secretary-General when he was in London, the oil market doesn't need to look for oil prices to bottom as the market has already bottomed. From Jawad Mian of Outside the Box Investment Observations The precipitous decline in the price of oil is perhaps one of the most bearish macro developments this year.
Any Seasonality for Oil Prices? - CXO Advisory. A reader asked whether oil prices exhibit seasonality. To check, we investigate three monthly series: (1) spot prices for West Texas Intermediate (WTI) Cushing, Oklahoma crude oil since the beginning of 1986 (26+ years); (2) nearest expiration futures prices for this same crude oil since April 1983 (29 years); and, (3) and prices for the iPath S&P GSCI Crude Oil TR Index exchange-traded notes (OIL) since August 2006 (only about six years). Using monthly prices from the respective inception months through June 2012, we find that: The following chart shows average change in WTI crude oil spot price by calendar month over the available sample period, and over two equal subperiods. Chart of the Day: U.S. Gasoline Consumption Tanks in 2011. Which Oil Producers Are Breaking Even? - WSJ.com. US shale oil and gas producers are victims of their own success - FT.com. FACTBOX-Oil prices below most OPEC producers' budget needs.
China’s Oil Hoarding Is Raising Prices. Petroleum Insights: U.S. Crude Oil Production, 1970-2010. These countries are getting killed by cheap oil prices - Oct. 30, 2014. NEW YORK (CNNMoney) Oil is selling for roughly $83 a barrel on the global market. That's bad news for Iran, Nigeria, Venezuela, Russia, and Saudi Arabia, among others. They need the black stuff to trade at far loftier levels in order to balance their budgets. Iran's budget, for example, is built on oil at $135 dollars per barrel, according to data from Deutsche Bank and Thomson Reuters compiled by DoubleLine Capital. Shale Oil: Expensive, Over-Hyped, & Short-Lived. Submitted by Adam Taggart via Peak Prosperity blog, If you've watch the previous video chapter on Peak Cheap Oil, you may be wondering how any of that could be still be true given all the positive recent stories about shale oil and shale gas , many of which have proclaimed that “Peak Oil is dead”.
The mainstream press has faithfully repeated every press and PR statement made by the shale producers. And if you simply followed the headlines, you might even believe this about the US: Oil trade in throes of historic shift - FT.com. Could Gasoline Prices Trigger A Recession. Yesterday I pulled into my local gas station and went through the automated motions of filling up my non-green, oil consuming, emission generating vehicle while thinking about my day of meetings ahead of me. While the pump did its job I checked my email and scrolled the web for the latest headlines out of Europe. As the pump shut off I extracted the nozzle from my car and replaced it on the pump while looking up to see what the damage was going to be to my credit card.
What? I had to look twice as the pump read $39.02. U.S. to become biggest oil producer and energy independent - Nov. 12, 2012. Oil and gas boom puts US on track for energy independence. World Crude Oil Consumption by Year (Thousand Barrels per Day) Guest Post: Where Is Our Oil Price Collapse? Commodities. 'Perfect storm' on the horizon for commodity FX bit.ly/1rGjzYe.
With global growth stuttering, there is increasing concern US plans to raise rates could undermine global growth expectations further, putting downward pressure on commodities. While the European Central Bank and Bank of Japan have been tipped to keep rates low and even provide their own quantitative-easing stimulus, few believe this will be enough to fuel global growth with the Fed on the sidelines. On Tuesday, Brent crude briefly traded below $87 per barrel, its lowest levels since late 2010. Average natural gas prices compared for the US, UK, France, Germany and Jap. In the last month the “Big 6″ utilities in the UK have raised natural gas prices and electricity prices by 8-11%. The American Myth of Cheap Oil and Gas - Bloomberg View. In recent years, U.S. business and political leaders have giddily talked of a “Saudi America” gurgling with domestic oil and gas. These countries are getting killed by cheap oil prices - Oct. 30, 2014. OPEC leader sees oil prices shooting back to $200 a barrel - Feb. 3, 2015.
Any Seasonality for Oil Prices? - CXO Advisory. Petroleum Insights: U.S. Crude Oil Production, 1970-2010. Shale Oil: Expensive, Over-Hyped, & Short-Lived. By Joel Guglietta While global financial markets are still levitating somewhere between the stratosphere and the Kingdom of Asgard, by 60°24′31″ North and 172°43′12″ West, in the middle of nowhere, an isolated island of 137.857 sq-mi holds the key of three major economic developments and risks: November 2013, Lawrence Summers raised the question whether the “secular stagnation” and the impossibility for the US and other major economies to grow without the help of recurring bubbles was not doomed to become the “new normal”.March 2014, the Conference Board released a study (figure 1) showing the falling trend in global total factor productivity, i.e. in the share of output not explained by the “accumulation of factors” (more on this economic jargon below).March 2014 again, the NASA published a research paper answering to “widespread concerns that current trends in resource-used are unsustainable, but possibilities of overshoot/collapse remain controversial”.
Source: NASA, 2014. Hyperinflation: Iran's way out – possibly – Telegraph Blogs. Could Gasoline Prices Trigger A Recession. Oil trade in throes of historic shift - FT.com. Chart of the Day: U.S. Gasoline Consumption Tanks in 2011. - Game Changer. America is fortunate to have abundant energy resources. Combined with technological advancements and increasing capital investment, these vast resources are helping to create employment, expand private sector business investment and grow secure onshore U.S. energy supplies. These “game-changing” trends are positive for U.S. consumers and businesses as the domestic economy becomes less dependent on foreign energy over time and accelerates its transition from coal to cleaner-burning natural gas, and they are also likely to spur growth in new infrastructure investments, manufacturing industries and other businesses throughout America, benefitting our overall economy.
In our opinion, numerous opportunities exist for investors willing to do on-the-ground research on the companies and industries that stand to benefit from the strong growth in the energy sector, particularly in onshore U.S. oil and gas shale developments as well as throughout the global energy industry.
U.S. to become biggest oil producer and energy independent - Nov. 12, 2012. 14 maps that explain ISIS. The Islamic State in Iraq and Syria (ISIS), which now controls a vast swath of both countries and is at war with nearly every government in the region as well as the United States, did not come from nowhere. Its rise is rooted in history, in the wars that have torn apart governments and societies in the region, and in a series of disastrous choices made by the very forces now fighting ISIS.
Hend on Twitter: "The best #ISIS political cartoon I've seen. The Economist on Twitter: "The price of oil has been tumbling. The cost of finding it has not. Saudi Arabia Can Afford to Keep Oil Prices Low for Years to Come. Mr. Crude Meet Mr. Minsky. The Importance Of The Cancellation Of South Stream. Master Stroke by OPEC. Mish's Global Economic Trend Analysis: Russian Ruble, Turkish Lira, Ukrainian Hryvnia Hit Record Lows; Global Currency Crisis on Deck << Posted from @EconomicsReddit.
On the eve of 2015, oil and the US economy are already dictating the shape of investment - Perspectives Pictet. Khamenei.ir sur Twitter : "Photos of today’s visit made by Air Force commanders to Ayatollah Khamenei. نسخه قابل چاپ - دیدارکارکنان و فرماندهان نیروی هوایی با فرمانده کل قوا/ مجموعه تصاویر. Imam Khomeini sur Twitter : "February 11, 1986 Have you imagined that Iran was such as in current state from very begin… Instagram. George Dorgan sur Twitter : "#OPEC learned in 1997/1998 #oil crisis.Now they coordinate prices, Crude=55$, Brent=60$ for years, too low for #Shale.
George Dorgan sur Twitter : "Did #OPEC want to drive sbody out of #oil market in 1997/1998, same as they do with #Shale today? Russia, Venezuela? George Dorgan sur Twitter : "Speculators still have a desire to create a #contango. High valuations of equity markets help to think #oil rebounds. George Dorgan sur Twitter : "#Shale production until reserves are depleted & firms bankrupt is pretty similar to stock piling in 1997/1998 #oil. Exclusive - U.S. airlines confront cheap oil's flip side: costly hedges. Oil hits April 2009 low, then pares loss on U.S. oil rig data. SAFE sur Twitter : "& here's a #chart RT @JKempEnergy: Massive decline in US oil drilling.
Chapter 2: Religion and Politics. Views of the United States and American Foreign Policy. Conrad Hackett sur Twitter : "2006 cartoon controversy: Muslims blamed Western disrespect, others blamed Muslim intolerance. Conrad Hackett sur Twitter : "How people in 7 Muslim-majority countries say women should dress. George Dorgan sur Twitter : "#Iran Dresscode, in 1978 very Western (No6) , but still today quite modern (No5) @IRKhomeini. Imam Khomeini sur Twitter : "February 11, 1985 Today, when the breeze of wakefulness is blowing throughout the world an… Instagram. Imam Khomeini sur Twitter : "February 22, 1989 mission of the theological seminary; charter of the clergy At the relig…
Instagram. What ISIS Really Wants. Oil companies: Unsustainable energy. Emerging Markets and Global Oil Demand. Forget U.S. Energy Independence, Chinese Consumption Growth Will Drive Prices too High. Uk.businessinsider. Oil. Dr. Ed's Blog. World Crude Oil Consumption by Year (Thousand Barrels per Day)