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The day (Dec. 16th) Yellen announced the rate hikes oil was selling near its lows of the 2008 financial crisis....

172.77.180.89

In Reply to: RE: When she mentioned the 4 rate hikes... posted by mkuller on February 02, 2016 at 12:13:44

"Markets | Wed Dec 16, 2015 3:10pm EST, U.S. crude futures settled down nearly 5 percent, or $1.83, at $35.52 a barrel, not far from the $32.40 hit during the financial crisis in 2008."

Moreover, at that point oil had already plummeted from its January 2015 high of $53. Yeah, I blame the Fed. Who do you blame? Bush?

"who know (sic) oil prices would drop below $30 and China would devalue the Yuen?"

Pssst, China devalued four months **prior** to Yellen raising rates.

http://www.pbs.org/newshour/making-sense/whats-happening-chinas-currency/

http://www.reuters.com/article/us-global-oil-idUSKBN0TZ03P20 (Open in New Window)

Follow Ups:

Jan. 12, 2016... - mkuller 13:38:06 02/02/16 (2)
...first time in 12 years oil drops below $30 a barrel.
- Oil Drops (Open in New Window)
- Prior to her rate hike, we know Yellen was aware oil could plummet below $30 per barrel... - regmac 14:39:26 02/02/16 (1)
  ...because many of the top analysts in the business had predicted it.
  
  In September of last year Goldman Sachs warned that $20 oil was a distinct possibility.
  
  http://www.bloomberg.com/news/articles/2015-09-11/-20-oil-possible-for-goldman-as-forecasts-cut-on-growing-glut
  
  Citigroup warned us of $20 oil **last** February.
  http://247wallst.com/energy-economy/2015/02/15/could-oil-still-drop-to-20/
  
  Moreover, dozens of analysts were on the financial channels warning of sub $30 oil throughout 2015. (You don't stay abreast of these things, do you?)
  
  Sub $30 was not a surprise. Yellen suspected it was coming and still raised rates. Big mistake.
  - And did you know that trail parks cause tornados? : ) nt - jdaniel@jps.net 18:55:36 02/02/16 (0)
    .

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