recognise this chart?
You really should. It’s the price of oil in 2008, which started falling precipitously in July, presaging a violent, deflationary crisis a few months later (pay no mind to the September spike — that had something to do with a contract expiry). The sharp fall in oil was a good signal to GET OUT.
And though the stock market had a good week, we’re seeing the first signs of a new deflationary cycle in both gold and oil. Gold is at a 4-week low after an awe-inspiring rally. Oil is now around $70, well off its recent highs above $85.
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