Nothing can trump oil when it goes down. No amount of good news. So once again the markets sold off, the dow sinking 89 points, the s p losing 0. 38 . Were not going to get out of this Oil Conundrum easily. As ive told you many a time, you can deride it all you want, the linkage, absolutely. But you see, you cant dismiss the fact that oil is in control. And weve got a very firm pattern going here. Oil is a hardtime rally on the fundamentals because we have a dramatic glut thanks to aggressive pumping really by the saudis. The correlation with the stock market revolves around demand. The supposition is when oil is weak, its because of u. S. Demand weakening. Therefore our economy must be slowing. This linkage will not break until it breaks. See, we dont know when the market will come to its senses. The oversupply drives oil down to the 40 level. Right now its at 43. When we got to 40, you know what happens . Like clock work, the renewalors begin that the saudis are going to cut back or
Were not going to get out of this Oil Conundrum easily. As ive told you many a time, you can deride it all you want, the linkage, absolutely. But you see, you cant dismiss the fact that oil is in control. And weve got a very firm pattern going here. Oil is a hardtime rally on the fundamentals because we have a dramatic glut thanks to aggressive pumping really by the saudis. The correlation with the stock market revolves around demand. Weak, its because of u. S. Demand weakening. Therefore our economy must be slowing. This linkage will not break until it breaks. See, we dont know when the market will come to its senses. The oversupply drives oil down to the 40 level. Right now its at 43. When we got to 40, you know what happens . Like clock work, the rumors begin that the saudis are going and then what happens . Crude rallies. It rebounds to the 45 to 47 range. Taking the stock market with it. Because the buyers of stocks dont seem to care how oil surges. They just assume its because of
Prove it this is going to stick around then maybe ill invest in it myself. I think we have early adopters. We call them lowhanging fruit and people that are more cautious and thats fine. They have to be around it. They have to experience it and taste it and feel it themselves then we have people who are no matter what you say, its going to feel like we are giving special attention to some people and not others because they have trauma. And we have to work on that. So we have to it is a horizontal approach but its bottomtoop. I think the 2pointal , theyre the people that have a hard time trusting that we mean what we say. There is no funding. Were doing it from the inside out. Its not like were going to lose funding. Were doing it. This is not costing a lot of money to the department. Were not relying on external grants or consultants or anybody coming in from different parts of the droin. Were doing it ourselves. No matter who leaders are, we want to create the change and embed it into
Questions . Roll call commissioner president adams commissioner Vice President brandon commissioner kounalakis and commissioner woo ho. Item 2 approval of the minutes for the april 2016. 2013 opposed . Inclusive session any Public Comment seeing none, Public Comment is closed. Collective session. All in favor, say i. I. Motion motion second all in favor, say i. I. Opposed . Were in executi congratulations. I move to call the meeting to order. Second. All in favor, say i. I. Opposed . Meeting is in order. I move not to disclose anything discussions in session. Second. All in favor, say i. I. Opposed . Next order pledge of allegiance of the United States of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Are prohibited at this meeting. The ringing or use of a cell phone, pager, o
I. Opposed . Were in executi congratulations. I move to call the meeting to order. Second. All in favor, say i. I. Opposed . Meeting is in order. I move not to disclose anything discussions in session. Second. All in favor, say i. I. Opposed . Next order pledge of allegiance of the United States of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Please be advised the ringing of and use of cell phones, pagers and similar soundproducing Electronic Devices are prohibited at this meeting. Are prohibited at this meeting. The ringing or use of a cell phone, pager, or other similar soundproducing Electronic Devices. Please be advised members of the public has up to 3 maintenance for each agenda item unless the Port Commission adopts a shorter air item 8 items not listened on the items on the agenda Public Comment is closed. Next item, please. Item 9 a executive directors report gm good afternoon commissioner president adams