Brent Passes $110
Submitted by Tyler Durden on 02/23/2011 10:19 -0500
CrudeGreat Depressionrecovery
A $10 move in a week is just what the doctor ordered to destroy the last trace of surreality in the whole "economic recovery" story. At this rate we will take out all time high crude prices by mid March. As we have been saying since December, a rapid move in oil will undo years of carefully planned propaganda and money printing. Yet the weakness that "nobody could have possibly predicted" is just as we had forecast: global and US weakness in late February/March, market swoons in March/April (as per DeMark's repeat appearance), Fed releases early indications of QE3 in May. In the meantime, we also get a war as a bonus to boost the US military-defense industrial complex. Pretty much a rerun of the first great depression to the dot.
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