2009 Gloom & Doom update:batten down the hatches!

In the past months the global economy has become quite sickly. Oil prices are soaring, not because of supply shortages but because of the politics of energy markets and an ever-weakening US dollar. The USD itself is a reflection of the US economy, the ongoing mortgage crises and all its ripple effects.

The mortgage crisis coupled with a credit crisis (US savings rate was negative last year!) is quickly taking us towards a retail sector collapse.