There are two great myths in the modern world. One, as discussed yesterday, is that central banks can restore growth to SuperCycle levels. The other is that China’s economy will grow consistenly at high rates for the next decade. Both are wishful thinking, not robust strategies. The chart above highlights the problems with the second […]
Chemicals and the Economy
FT’s Gillian Tett named ‘Journalist of the Year’
The blog is delighted that the Financial Times’ Gillian Tett has been named Journalist of the Year, in the annual UK awards. She was the first journalist to call attention to the dangers developing in financial markets, and has been an invaluable source of information. Two postings, from March 2008 and December 2007, illustrate her […]
Canada suspends Parliament
The downturn is starting to impact politics all over the world. As an example, take the recent sequence of events in Canada: • In October, Prime Minister Harper increased his vote, but still ended 12 seats short of a majority, after calling an early General Election • Last week, the opposition parties united against his […]
Russian crude supply ‘peaking’
Russia is the world’s 2nd largest oil producer. And it has been the main source of increased crude production in recent years. Its output rose 58% between 1999-2006, from 6.2mbd to 9.8mbd. Now Lukoil’s VP, Leonid Fedun, has told the Financial Times that he thinks 2007 output will be ‘the highest he will see in […]
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