zerohedge | Easy money by The Fed expanding their balance sheet ENABLED tight oil to be produced 'economically'...
But the signals this sent to the market became self-fulfilling (thanks to an endless Fed put) further creating record US crude production (as the oil 'gold rush' ensued), forcing a real 'deflating' world to be 'glutted' with ever-increasing output of mal-investment-driven 'expensive' oil...
of course until that facade of 'boom', busted and crushed the price of the over-produced by 75% (back to 'reality')
Can you spot the moment The Fed jumped the shark?
So the question is - If The Fed enables mal-investment booms by mandate (or ignorance), will they ever learn from the inevitable busts?
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