Oil climbs as more producers join output cuts http://www.wsj.com/articles/oil-climbs-as-more-producers-join-output-cuts-1481510602?emailToken=JRrzdfl8YXifit00aMw71VltZa0JDuWSA1rMaXXNIEWJrGbSrf+qyr8uwtmwoGXqQltm/80YqmUiWSaU2TY6BZLIw+Anyw==
What’s not to like? Russia, Mexico, Iran, Saudi, Exxon and the Fed all win. Inflation in the USA rises, and the Fed can declare victory and start reducing bond holdings. Of course Trump voters are screwed as the cost of gasoline jumps back up “to where it belongs” along with the interest rate “back up to where it belongs.” Trump can boast to seniors that now they;ll get higher interest on their savings. Of course the value of their savings shrinks with inflation but at least they’ll have the illusion. Too bad Mexico didn’t hold on to its patrimony.
Gene