Markets are under pressure again. European banks continue to be “repriced;” Asia appears to be adjusting to the idea of a global recession.
Europe’s overall health — financially, politically, economically — is very much in question.Markets on on the continent tumbled another 2.5%, with Germany down 3.5% of evidence that even its economy is slowing.
Crude oil = $80 ! No, this is NOT good for the economy as the eejits keep repeating — its a signal that demand for growth products are rapidly decelerating. Spot prices on Dr. Copper (see this) look to be getting ready to roll over.
More shortly . . .