A global recession is on the horizon - please read OP for mod warning

Firestick is the way to go

Sounds like OPEC's 2 main exporters cannot increase capacity. Also many OPEC members are unable to reach it's quotas for oil production, so now the G7 are proposing an oil cap on Russian oil we could be in for oil shortages coming up soon and a higher oil price across the board.

Macron dropping the news to Joe. You would of thought these leaders would check on what capacity is available before sanctioning Russian oil by ship.

Unless they get the Iranians selling theres next to nothing to offset sanctioned Russian oil

Almost 50 years on since 1973 it looks like a new oil crisis may be on the cards

Morons. Shouldn't we have secured extra supply before banning Russian energy? I can only see huge pressure from the West to agree to a large Russian annexation of Ukraine. Europe is screwed this winter otherwise.

All the talk of green this, green that is fantasy policies, shut down this etc when all it took was one country to invade another and the world will come to a halt.

Looks like Iran is going on it's own path.

Spain hit 37 year high @ 10.2 % against a forecasted 9%

Core inflation now 5.5 %

It is beyond stupid. 40 countries say to Russia we are only going to pay x for your oil or we won't buy it. What if Putin says ok, i will reduce production by 3 million BPD and you can buy from someone else. Then the price goes up because it can't be replaced. So instead of paying 70 / barrel they have to go and pay the market price which will be double that.

Then the countries who will be happy to pay 90 will buy it, refine it into other products and sell it to the west for a big profit. All it means is more inflation for those paying extra.

If they dont address the causes of inflation then hyperinflation is a very real risk.

Either we see an inability to retain staff because the work simply doesnt pay enough to live anymore, people going hungry/homeless etc. Or wages rise to meet inflation, which can add to inflation and has potential of a wage-inflation spiral. Letting inflation run riot is incredibly risky

Lithuania hit 20.5% inflation and today it was announced by The press service of the State Council for Energy Regulation of Lithuania that gas will increase in value by 27.5-41.5%,and electricity-by 40%.

Mainly due to ending all imports of energy from Russia and buying far more expensive LNG which they never needed to do straight away. Could well be looking at 30% inflation within 3 months.

Wait until you find out how fucked the banks really are

I'd keep an eye on the American reverse repo market, If that start to fall that means the banks are rushing back for more money to smooth things, until I see this I would not be too worried about the banks but If this starts to fall then I think we could be getting it from all angles.