Mixing oil and water with Lindsay Hall and Stephen Leeb!
The US unemployment rate fell from 8.3% to 8.1%, however this drop is most likely due to a fall in the labor force participation rate. Meanwhile stocks rallied after the ECB announced its unlimited bond buying program yesterday. We discuss. Also, China's growth is slowing and analysts are concerned about slumping iron ore prices, a gauge of industrial production. We talk to commodities expert Steven Leeb, chairman of Leeb Capital Management, about what effect stimulus might have and the effect that marginal cost increases have on commodities more broadly, and the important role that water scarcity plays. Plus, at the DNC Barack Obama spoke about a path where the US reduces its dependence on foreign oil and takes more control of its own energy future. We talk to Lindsay Hall, chief market strategist for the RMB Group about why she still anticipates higher prices for oil despite economic slowdowns in China and Europe and SPR injections.