Monday, Monday

Monday, Monday, can’t trust that day
Monday, Monday, sometimes it just turns out that way
Oh Monday morning, you gave me no warning of what was to be

These ‘Mamas and Papas’ lyrics certainly sum up Monday this week:

• Oil prices went to another record high, just under $140/bbl, as traders worried about the falling US$ and the risk that an attack on Iran might not be far away
• A leading US economist suggested that the next 18 months might parallel the 1988-92 US real estate crisis, ‘when more than 1000 banks and 1000 thrifts failed’.
• ICIS’ Nigel Davis highlighted the suggestion from Citigroup analysts that the chemicals industry was also‘heading for crisis’ due to its inability to pass through recent feedstock cost increases

About Paul Hodges

Paul Hodges is Chairman of International eChem, trusted commercial advisers to the global chemical industry. He also serves as a Global Expert for the World Economic Forum. The aim of this blog is to share ideas about the influences that may shape the chemical industry and the global economy over the next 12 – 18 months. It looks behind today’s headlines, to understand what may happen next in critical areas such as oil prices, China and Emerging Markets, currencies, autos, housing, economic growth and the environment. Please do join me and share your thoughts. Between us, we will hopefully develop useful insights into the key factors that will drive the industry's future performance.

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