Levitra Prescription
“Another reason to fear a double-dip recession is that oil, energy and food prices are now rising faster than economic fundamentals warrant, and could be driven higher by excessive liquidity chasing assets and by speculative demand – levitra prescription.Last year, oil at $145 a barrel was a tipping point for the global economy, as it created negative terms of trade and a disposable income shock for oil importing economies; levitra prescription.The global economy could not withstand another contractionary shock if similar speculation drives oil rapidly towards $100 a barrel.” Click for ARTICLE
- The risk of a double-dip recession is rising
- Nouriel Roubini
- Financial Times Opinion
- August 23, 2009
One of the world’s most respected and listened-to economists can see what is obvious to market observers: namely oil was a bubble in 2008 and it is looking bubbly again in 2009. Since oil is the single most important commodity on the planet it makes no sense for the oil price to be determined by Wall Street commodity market vigilantes.
Note that Roubini has been examining and commenting on the speculative bubble in oil prices since at least 2006. See earlier POST.