A simple pleasure these days is watching US Financial TV channels as the markets implode. CNBC’s Maria Bartiromo is smarter and prettier than Fox’s Neil Cavuto, but both of them remind of us the kind of people who drove us up the wall in high school: not terribly smart, totally ignorant of the rest of the world, chirpy to the point of distraction and unrelentingly optimistic,although Maria is wavering lately. She may be a closet socialist.
Neil is doubly annoying in that he makes sporadic sense, although it’s probably due to the broken clock twice a day syndrome at his frenetic pace. But then he blows it big time, as he caters to the Fox demographic, which isn’t aimed at people with money (they watch Bloomberg), but at bitter, disabled veteran types watching him in a bar at the VFW, which may be the only place they can afford.
Yesterday however he had a drop in guest by phone, probably from a yacht cruising offshore: Donald Trump. We mention this in the context of predictions: as we never make any, we can’t in good faith argue with those who make them. Unless of course that someone has as a tenuous grip on reality as the Donald.
CAVUTO: Now what?
TRUMP: Well, I think there is always a silver lining, and the beautiful silver lining to this is that oil is going to drop down to nothing, it’s about time. And there is nothing OPEC can do about it. And they’re taking tremendous losses like everybody else. And I love the fact that it is almost a cleansing action.
It’s cleaning up — oil got up to a phony price of $150 a barrel, and I think oil could go down to $20 or $25 or lower depending on the severity of the so-called recession, meaning depression. I love the fact that oil dropped, I guess, over $10 a day, and it will continue to drop, and that is the beauty.
So there you have it: Donald Trump predicts oil at $20. Buy pig poo on the windscreen futures while you buy the future on that.