It seems some of us question what the 'experts' say? Mystic Meg et al probably earn a sight more than most of us contributing to this website. Fuel prices at the local garage have reached a painful level, of that even I am sure. Fuel sources are not infinite that to we can be sure of. LC are not low cost and have not been so for some time. Boom and bust has been part of the financial market since the 1900's therefore I fail to see why many seem to be surprised at the present scenario. As for the pundits so far they have been correct and if they state things are going to get a lot worse many would do well to heed the warnings not scoff at them.
p.s MM will still be in a job whatever the state of world finanace. Who is the Spanish equivalent?