Browsing Tag

recession

Economy

Refiners as a canary in the coalmine

Edward Harrison
I am on record for expecting a drop in oil prices in the very near future due to demand destruction. Regarding the super spike, I believe much of the end rally in oil prices had little to do with fundamentals and everything to do with…

Ten predictions for 2008

Edward Harrison
With 2008 now half over, it's obvious that the global economy has lurched to the downside. While many have remained unrealistically optimistic about the workout of the present credit crisis, downside risks have been the determining factors…
Economy

UK retail sales drop most in 22 years

Edward Harrison
The headline says it all. The U.K. has fallen into its economic downturn with much greater speed than the U.S. Retail sales were down in June3.9% after a rise of 3.6% in May.U.K. retail sales dropped in June by the most since at least 1986…
Daily

Oil to sink to $100

Edward Harrison
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…
Economy

Retail sales: don’t be fooled

Edward Harrison
You've probably heard the adage that the American consumer just won't quit. And this last month's retail sales numbers seems to follow that saying. However, if you look beneath the surface, American consumers are cutting back indeed.…
Business

Starbucks’ closure list

Edward Harrison
Starbucks has released the full list of the 600 stores it expects to close in the coming year. Long a Wall Street darling, Starbucks' retrenchment is very much representative of the magnitude of the slowdown we are now seeing. Apparently,…

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