John Myers Archive
John Myers is editor of Myers’ Energy and Gold Report. The son of C.V. Myers, the original publisher of Oilweek Magazine, John has worked with two of the world’s largest investment publishers, Phillips and Agora. He was the original editor for Outstanding Investments and has more than 20 years experience as an investment writer. John is a graduate of the University of Calgary. He has worked for Prudential Securities in Spokane, Wash., as a registered investment advisor. His office location in Calgary, Alberta, is just minutes away from the headquarters of some of the biggest players in today’s energy markets. This gives him personal access to everyone from oil CEOs to roughnecks, where he learns secrets from oil insiders he passes on to his subscribers. Plus, during his years in Spokane he cultivated a network of relationships with mining insiders in Idaho, Oregon and Washington. Email this author.
What is truly unique to the 21st century is that we are running out of affordable crude oil, the fuel that propelled staggering economic growth during the previous 100 years. And while the wheeler-dealers in Congress can lift the debt ceiling with the stroke of a pen, all the king’s horses and all the king’s men can’t put oil back in the ground again.
America’s recovery has run out of steam. Job growth is nonexistent. Stock indexes cling to highs set earlier this year. Barack Obama’s moneyfest has failed to right America’s listing ship. The U.S. is facing a deflationary collapse worse than anything that has happened in 80 years.
Stock indexes went postal on Washington’s debt deal celebration. Last Thursday, the Dow Jones industrial average declined more than 500 points, its worst setback since the Crash of 2008. Then on Friday, Standard & Poor’s downgraded America’s debt from AAA to AA+. In response, the market suffered an even greater setback on Monday, with the Dow Jones industrial average falling 643 points. The sky is falling.
What really worries me about our future is the unknown that might jump up and bite us. Things that are not only unpredictable but are counter to anything we might expect. Essayist and practitioner of mathematical finance Nassim Nicholas Taleb has a term for unpredictable events: “Black Swans.”
Only once have I looked down the barrel of a gun. I can tell you it was damn disconcerting. It happened 25 years ago. The automatic rifles that were drawn on me then are pointed at America today. Yet President Barack Obama refuses to acknowledge that America is facing Middle Eastern guns.
With oil priced at just two-thirds of its highs set three years ago, President Barack Obama launched yet another spend-now-pay-later program. But this time the President has done it with something much harder to replenish than fiat dollars. He is spilling out the nation’s emergency crude oil reserves.
Sometimes, we are in danger because we are in the wrong place at the wrong time. Knowing what to do to avoid such a situation, or what you must do if you cannot, can be a lifesaver.
I doubt any of the nine justices on the U.S. Supreme Court have ever shopped at a Walmart. That probably helped the retail giant when the Court dismissed the largest employment discrimination case in U.S. history last month. But the Supreme Court’s refusal to hear the case hardly makes Walmart a paragon of good business.
Blood is being spilled in Western democratic cities like Vancouver, Canada, and Athens, Greece. With America’s economy stuck in recession and with the dismal and arrogant leadership provided by President Barack Obama and Congress, it is not hard to imagine similar violence in American cities.
Almost all of Afghanistan’s economy is supported by foreign aid, most of which comes from the United States. We have a President who is borrowing money from a potentially much larger enemy, China, to finance foreign wars against Islamic countries who hate us.