285 sats \ 6 replies \ @Undisciplined 16 Nov 2023 \ parent \ on: Oil: Deflationary Shock At The Door? meta
Enjoy the lower prices while you can, they won't last long.
Nothing would terrify the U.S. govt more than deflation. Interest rates would be back at 0 quicker than you could say Bernanke.
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Seems likely...Elsewhere, UK BOE (small beer compared to the Fed, I know!) already flagging rate cuts next Summer as jobs market starts to stop.
Europe's ECB only got up to 4.5% and stopped there with recession indicators already flashing red.
They're gonna get the slowdown they wanted and then hit reverse!!
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I got the impression this week with europ. industry production cratering to -6.9% YoY they will be cutting far earlier.
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Jaw dropping!
Also saw EU imports down 24%, exports down 9%; seems crazy but presumably values are heavily impacted by oil and gas prices?
https://tradingeconomics.com/euro-area/balance-of-trade
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That's very true
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That's for sure. It would give my family a nice chance to relocate. Probably would be pretty bad for everyone else though
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