Quote from: bryant.coleman on December 31, 2014, 01:36:06 AM

Quote from: panju1 on December 30, 2014, 11:49:47 PM

This is real good news for a lot of countries which import oil.
Precious foreign exchange gets saved.

Yes. Good news for China, India, Japan, South Africa.etc.

I think the Japanese will be the most happy.

Won't help them avert a massive collapse (India may be an exception).

The significant impact of the falling oil price is it indicates the global economy is collapsing and it will set off a derivative chain reaction contagion due to the $trillions of derivative contracts written when oil was $100. Which will cause banking insolvency, which will cause a need for more bailouts, but this next time the plan is to take the bailouts directly from the bank depositors, which will be massively deflationary.