There is a shard of 2008 around at the moment.
Remember when the equities markets in 2007 continued to rise as banks fell and debt contagion seeped into all aspects of life? Well I am confused because, unlike the bond markets which are looking shaky, equities are ignoring the Middle East crisis.
In the 1970s the oil crisis was nasty. Low rates, inflation, rising unemployment and structural issues caused the early 1980s recession, a time when you had to travel on the New York subway with a gun and we were all going to die from nuclear fall out. We are heading quickly in that direction now. The signs are all there. Low rates, inflation, rising unemployment and structural issues.
I know there are opportunists wanting to move into the Middle East because democracy is coming, but that is for 5 years time. Right now we have unemployed young people in all parts of the world funding the pensions of old people who caused the issues we have today. But isn't that always the case?
We have to blame the Hippies and Jimi Hendrix in particular.
Asians to inflate (bloomberg)
UK to abandon its police force (guardian)
Obama continues his will I, won't I stance on Libya (huffpost)
Libyan oil no longer in vogue (wallstreetjournal)
UK's SAS to be demoted to "cats in trees" duty.