Tag Archives: Off The Cuff

In this week’s Off The Cuff podcast, Chris and Art Berman discuss:

• Shale Oil’s Chronic Profit Drought
  • Nearly all companies are cash-flow negative
• Why Drilling US Oil Isn’t Profitable
  • Oil service costs eat your lunch
• Why Drillers Can’t Stop Drilling
  • They need cash to service their debts
• Shale Oil Is A Business Model With No Future
  • When credit tightens, the whole industry will implode

Right now, the US is still producing a record amount of oil, due mostly to shale fields developed within the past decade. But that bonanza won’t last — it can’t last — explains petroleum geologist Art Berman. Nearly every shale driller has been and will remain to be unprofitable. The nature of shale wells and the nature of oil service costs will ensure that.

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In this week’s Off The Cuff podcast, Chris and Wolf Richter discuss:

• Tesla’s Woes
  • A harbinger of what’s coming for many other overvalued companies
• How Bad Could A Trade War With China Get?
  • There will be lots of unintended consequences
• Why The Smart Bet Is On Currency Devaluation
  • Governments will print forever to prevent catastrophic losses from happening
• Recession Ahead!
  • The global macro data continues to look worse and worse

In this excellent discussion, Chris mentions “It feels like we’re so far down the state intervention pathway that I’m not sure that there is a way back to free and fair markets at this point in time. And it would take something fairly cataclysmic I think to upend that, something like an out of control currency accident for China, taking it out of their hands, for instance. ”

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In this week’s Off The Cuff podcast, Chris and Mish Shedlock discuss:

• Next Up: A Currency War With China?
• Recession Warning
• A War With Iran, Too?
• More Cracks In Europe

The self-delusional “Everything is awesome and getting better!” narrative that has pushed markets ever higher for the past years is suddenly unravelling. The current China tariffs will undo any remaining salubrious impact of the Trump tax cuts, a global recession appears underway, and — seriously — are we about to go to war with Iran??

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In this week’s Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

• What’s driving the latest breakdown in trade talks
• The 2 Chinas: and why it can no longer have it both ways
• The dollar shortage in China
• The great global slowdown

The big news driving the markets this week is obviously the breakdown in trade talks between the US and China. In this week’s podcast, Chris and Charles deconstruct the key variables of the situation and explain why they don’t think a deal can get done anytime soon:

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What’s better than an Off The Cuff with John Rubino? Or Wolf Richter? Or Axel Merk?

How about one with ALL of them?

That’s what attendees of last weekend’s Peak Prosperity annual seminar were able to enjoy, live on stage.

This meeting of the minds was the first time Axel, Wolf and John had ever met one another in person. And the idea-exchange that ensued was pure magic.

For this week’s Off The Cuff, we’re giving you a huge treat. A chance to watch these great thinkers in action.

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In this week's Off The Cuff podcast, Chris and John Rubino discuss:

• Moral Hypocracy
  • One set of rules for the elites, another for the rest of us
• Inflation Is Coming
  • The Fed should be careful what it wishes for
• Uncharted Territory
  • All countries are pursuing extreme policies right now
• How The Game Ends
  • Hard assets will be the last man standing

In this week's discussion, John Rubino gives a useful revisitation of why owning hard assets is so important. While the exact path we take is still unpredictable, the endgame is increasingly clear: the world's current fiat currencies are losing their purchasing power at an accelerating rate.

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In this week's Off The Cuff podcast, Chris and Charles Hugh Smith discuss:

• Our Current System Is A Servitude Trap
  • You need to escape it to prosper
• The Rich Own The Assets & The Rest Own The Debt
  • Which is why its so hard to move up socio-economically these days
• Asset Bubbles Pevert Opportunity
  • Big lifedesicsions become much more speculative
• The Scary Side of Facebook/Google Media Monoply
  • Private industry & the government sharing our data

This was the podcast orginally planned to run last week, but we bumped it to rush to you the time-sensitve reveations from Art Berman regarding the Ghawar oil field depletion data.

In *this* podcast, Chris and Charles Hugh Smith pull back the veil covering the architecture underlying today's society, exposing how the system is designed to trap us all in servitude to the parties running it. From how we're eductated, to the options available to us with our jobs and our money, to how our own personal data is increasingly being used to manipulate us — increasingly the only way to prosper in terms of wealth and well-being is to break from convention and operate outside of the system as much as possible.

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In this week's Off The Cuff podcast, Chris and Art Berman discuss:

• Is the Ghawar oil field truly in decline?
• If so, what are the implications?
• What other important revelations does the Saudi Aramco prospectus contain?

In the light of the huge surprise contained in the recent Saudi Aramco prospectus, that Saudi Arabia's massive Ghawar “crown jewel” conventional oil field is in decline (currently at a maximum output of 3.8 million barrels per day vs the previous estimate of 5.8mbd), we rushed to interview seasoned petroleum geologist Art Berman on the news.

Is he as concerned about the revelation as we are?

Yes. In fact, he suspects the 3.8mbd is likely still an overly-exagerrated figure, and that the field's true max output is even lower.

In his estimation, the fiction the world has been telling itself — that Peak Oil isn't real — is about to be rudely disproven. The recent (and much more expensive) shale bonanza will prove to be a short-lived distraction, and we'll soon be face-to-face with the predicament of how to power the global economy with less net energy.

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In this week's Off The Cuff podcast, Chris and Axel Merk discuss:

• Powell's Non-Message
  • He's trying to be as boring as possible to keep the markets placid
• Rising Inflation
  • We may quickly go from “too little” inflation to “too much”
• Good Times?
  • Many of the metrics the Fed looks at are still green
• The Boeing Crash & Energy
  • Why one is related to the other

Fresh off his own reaction to Jerome Powell's appearance on 60 Minutes, Chris sits down with Fed watcher Axel Merk to hear his seasoned perspective on the central bank's future moves:

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In this week's Off The Cuff podcast, Chris speaks on:

• The Immorality Of Central Planning
  • The banks are stealing our future
• The Poor 99.9%
  • The system is now geared solely for the 0.1%'s interests
• Our Money Or Our Lives
  • The real damage is happening across our critical ecosystems
• This Will End
  • Remember that collapse is a process. And local mileage may vary.

Chris recorded this podcast shortly after completing his recent report on the in-process collapse occurring in the key systems around us. Economically, envrionmentally, socially — it's happening everywhere. Chris spend an hour exploring the collapse dynamic further, ending with this succinct prediction…

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