by Brian Maher
Daily Reckoning
We exist in a time of “firsts”…
A microbe shutters the global economy for the first occasion in history… the stock market careens from bull market to bear market in record time… never have so many millions filed for unemployment in so short a stretch…
And now a barrel of oil fetches less than zero.
That is, oil producers must pay a fellow to lift this barrel off his hands.
This was the sudden reality we confronted yesterday.