A brutal Saudi, Russian tax on global consumer
Brent crude’s meteoric 35% rise from $70 in early June to $95 as successive Saudi Arabian/Russian output cuts and a 3MBD supply deficit in the wet barrel market, have rewritten the monetary equations of global finance. This is a brutal tax on the global consumer that slams growth and boosts inflation at a time when China’s property crisis threatens a Japan style lost decade deflation, Europe’s industrial […]
