Has inflation peaked? Beware 2023 outlooks - who forecast oil prices would end 2022 unchanged over the year? IDA has a good year. Fine Gael is actually left-wing. Germany's Ukraine wobbles.
Jim worries about a charisma deficit
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US consumer price inflation has now come in better than expected for two months in a row. Is inflation’s peak now in the rear-view mirror? Can we now discern the accompanying, but lagged, peak in interest rates?
2023 Outlooks are now arriving into our inboxes. It’s a kind of date fetish that rarely means much. Everyone is firm in their expectations of a US recession, a lousy year for global growth and a forever war in Ukraine.
Next year might be tricky but the machine that is the IDA continues to purr, pulling in capital and jobs.
Germany needs to learn the value of consistency and delivering on its promises. The much vaunted boost to deface spending ‘might’ arrive in 2025. Scholz mutters about normalising things with Russia as soon as the war is over. Other German politicians still want to buy Russian gas.
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Fred, i think it could take at least a decade before/if it will be revisited.
Hi Lads,
I noted that in a recent show you said oil prices were back to the pre-invasion levels. It is also notable that the US Strategic Petroleum Reserve has been reduced from about 600M barrels to 380M barrels, and is at the lowest level in nearly 40 years, so this release of oil cannot continue for forever.
What happens when the US stops oiling the market? US administrators think they should start to refill the SPR when it oil is >$70. The big question is will OPEC let oil below $70?