on February 27, 2015

Living standards have risen 20-fold over the past 200 years.  Yet they rose just 3-fold over the previous 800 years.  What enabled this dramatic change...

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on February 26, 2015

I was kindly invited last week to give a keynote address at the annual ME-TECH conference in Dubai.  Naturally, there was intense interest in my argument that oil...

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on February 25, 2015

Data over the past month continues to confirm my fears that the US housing recovery is going into reverse.  The argument was summed up...

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on February 24, 2015

The 10-day wonder of the SuperBowl oil rally has ended.  Instead, we are returning to the world of the Great Unwinding, and prices are coming...

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on February 23, 2015

One by one, the Western economies are falling into deflation.  The Eurozone began the process, with deflation of -0.2% in December followed by -0.6%...

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on February 20, 2015

The world’s major shipping index, the Baltic Dry (BDI), has collapsed by 2/3rds since November, and by 80% since its earlier December 2013 peak,...

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on February 19, 2015

There has been a lot of wishful thinking over the past 15 years about the BRIC countries (Brazil, Russia, India and China).  The experts told us...

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on February 18, 2015

A mild winter, combined with 20% price discounts, has kept EU auto sales in growth mode.  Latest data from ACEA shows January sales at...

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on February 17, 2015

European chloralkali producers ended up having a relatively good year in 2014, despite having been over-optimistic about likely demand levels in Q3.  They held operating rates at...

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on February 16, 2015

There are some signs of a recovery in some markets, but the overall picture is still very quiet for what should be the seasonally...

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