Thursday, 29 May 2008
Over at Bloomberg, I've been writing about the oil and commodities bubble. I was arguing that it was the market at work. An oil price shock is going to force people to increase production, and cut consumption, which is what the world needs. It's the market at doing what it should be doing - brutal, perhaps, but effective. There was a lot of feedback on that one, most of it positive, which shows the financial community is more sophisticated on these issues than the mainstrean media.