Rate of Default

Going for Market Share

OPEC is growing its market share by means of consolidation.

If you recall, the price of oil peaked when the story was about the limited supply (“peak oil”), but now the interpretation is all about the oversupply as it goes below $40pbl (just like Goldman Sachs predicted), falling over 5% today.

If supply is really peaked out, the incentive to keep producing it, at falling prices, is the rate of default.

Notice the significant ambivalence to the law of supply and demand, emerging from the arguable ambiguity, all based on the law of large numbers.

The large number of units on the market (overproduction) causes a small price. Reduction of the price per unit results in financial default (deflation). So, now, financial markets are unstable, once again, due to consolidation of industry and markets.

Remember that the Great Recession was precipitated by peak-oil prices (and the biggest “market maker” was Goldman Sachs). Manipulation of oil prices by TBTF banks (again, due to consolidation of this market, which exists the purpose of the TBTF proportion) caused a high rate of general default. The rate is measured by how much is possessed in the market, and like Bernie Sanders says, just about all new income is going to the top 1%.

For most people, falling gas prices are less and less beneficial if it must be bought at the going rate of default, which is empirically valued not by its undersupply, but now its oversupply.

According to economists (conforming to what I call the doctrine of Available Ambiguity and Arguable Ambivalence), this all just kind of, sort of, you know, happens accidentally on purpose?

(Looks like twisted, pathological, nihilistic cause-without-purpose philosophy in operation to me!)

Life is imitating the work of art (accumulating massive detriment at an accelerating rate) to occupy your space, and mine, over time, by default.


About griffithlighton

musician-composer, artist, writer, philosopher and political economist (M.A.)
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