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Oil to sink to $100
Oil at $100? That's certainly my call and I'll stick to it. So far my call of oil peaking at $150 is holding.( We'll see for how long). On July 9th, after oil's first pullback to $138 I said:Yesterday, oil fell the most in one day since…
Outlook for Spain: Recession
The well-deserved euphoria over the European Championship in football has brought welcome relief to Spanish consumers, weighed down by a slow economy. However, global economies have not decoupled from the U.S. slowdown. European economies…
Forget Inflation, debt deflation is the real threat
It has been my assertion for some time that writedowns and the attendant unraveling of the financial system is the most troubling problem during this credit crisis. This process is deflationary by its very nature because credit contracts.…
Spain: Next Stop – recession
Spain is perhaps the next domino in the global credit bubble to fall. The UK economy is slowing as well, but the pace of slowing in Spain is truly remarkable.According to Spanish-language news reports I have seen today (see Round-up),…
UK sure to follow the US into recession
I have been in Europe for a while and am back at blogging after a two-week hiatus. This morning I was listening to "Wake Up To Money," a British finance show that one can hear via podcast. The gist of the discussion was that the UK…