Sunday, February 26, 2012


Liam Halligan said something in his latest commentary about oil prices that surprised me: oil prices in euro are now above their previous peak, just before the 2008 crash. So I went and checked, and sure enough, he's right (oil price in euro over past ten years from Index Mundi):

As Liam notes, this is way bigger than the Greek fiasco. But never mind, another good recession will sort it out...

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