Conflicting Signals Abound in Oil
Let me throw in another spanner – just for the fun of it. It cannot have gone completely unnoticed that China’s growth figures are a pure sham and they likely have been for quite a while. I have argued for years that China is already shrinking in real terms. Now reality seems to play catch up with us. But much smaller china will also use a lot less oil and gas which will provide a pretty powerful deflationary effect on those commodity prices. Its not getting simpler.
