Losing Energy

(1) Interesting week. (2) Separatists are agitating in Scotland & Spain. (3) Draghi throwing more spaghetti on the wall to see if it sticks. (4) Oil and gasoline prices plunging. (5) Oil at $75 would be bad news for RasPutin. (6) A timely call to underweight Energy. (7) US oil output close to 9.0mbd. (8) Industrial commodity prices also losing altitude. (9) China has too much debt, corruption, and capacity. (10) Chinese output fell in August m/m. (11) Railways freight traffic on slow track in China. (12) China’s shadow banks are getting squeezed. (13) Focus on overweight-rated S&P 500 IT.