Stop obsessing about the oil price. Its a red herring. The real issue is outlined by Albert Edwards, chief strategist at Société Générale speaking this week:
"We see a deep global recession. Growth prospects in the Eurozone, Japan and the UK have deteriorated. Most now accept that recession has already begun in all three,". Mr Edwards predicted a "collapse" in emerging markets next. "You ain't seen nothing yet," he said.
America sneezes.... this time we get bird flu.
WWW